The disadvantages of paper currency

[The_Traveler]

Laos currency is kip.
The kip to dollar is 8978:1 (this morning)
They have no coins and there are paper bills down to 5 or 10 kip so money is often exchanged in large hunks.
This shop is in Muang Sing in the center of what used to be called the Golden Triangle and lies just a very few km from the Chinese and Burmese border. (my guess is that Muang means something like 'town.')

(We came up for the day by bus from Luang Nam Tha about 60 KM south)

from Wikipedia
The district has a history of drug trading from at least French colonial times as it is a key transit point for smuggling, lying on a road (known as Opium Road) which connects to Burma and to the Chinese town of Zaho, passing through Oudomxay and Botom. The area is part of what is known as the Golden Triangle,[12] one of the world's most productive and notorious areas for drugs and smuggling. A number of opium dens are known to operate in the area and in 2000, Laotian police confiscated 398,000 methamphetamine pills in a truck.[3][13] Since 1992, political difficulties and territorial disputes between Laos and China has also led to increased trafficking of goods across the border including beer, cigarettes, fruit, rice, batteries and clothes.[5] Tourism has also begun in Muang Sing, with both wealthy travellers and young backpackers, the main focus being to visit the remote Akha villages.
There are over nine minority groups in Mueang Sing District. As of 2000 there were some 68 Akha villages, 26 Tai Lue villages, 5 Tai Neua villages, 5 Yao villages, 3 Hmong villages and 1 Tai Dam village in the district.[6] These ethnic groups are classified in terms of altitude such as Lao lum (lowland Lao) and Lao sung (highland Lao).[6] There are also many ethnic Yunnanese people in the area, mainly traders. The Akha which comprise about 45%, speak Tibeto-Burman languages and are mostly found in the rural parts of the district, especially the hills, and the Tai Lu, 30% of the people, form the largest ethnic group living in the main town

View attachment 191397

View attachment 191398

A local product is Lao-Lao rice whiskey, distilled locally and very strong.

I had a shot directly from this still and my throat and stomach burnt for 24 hours. The locals laughed.

View attachment 191399


Lao Lao retail - about USD .75 for the small bottle.
View attachment 191401

 

[Jeff15]

Interesting, your story reminds me of my only visit to Bali where you always had wads of notes being of very little value. You are very brave visiting countries like Laos. I am too long in the tooth now to go anywhere other than other European countries.

 

[Original katomi]

Image 1
Is that his cash register lol

 

[tirediron]

Bank manager to teller: "Hey, Thoc, call the police, someone just parked a dump-truck out front. Looks like it's a robbery!"

I've never understood the logic behind that sort of financial structure, but it's not uncommon. Why not simply devalue the currency.

 

[The_Traveler]

You are very brave visiting countries like Laos. I am too long in the tooth now to go anywhere other than other European countries.

I am older than you and, except for my endurance being lower than it used to be, like being in slower societies..

Image 1
Is that his cash register lol

Bank manager to teller: "I've never understood the logic behind that sort of financial structure, but it's not uncommon. Why not simply devalue the currency.

Laos is a poor country and the costs of trading in bills and re-issuing would be significant.
There is a lot of cross-border trade and that has to be a significant issue.

L

 

[K9Kirk]

Nice set and thanks for sharing.