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Wednesday, August 17, 2005

BBC NEWS | Africa | Cameroon's beer bottle 'currency'

BBC NEWS | Africa | Cameroon's beer bottle 'currency': "Beer bottle caps are being used as currency in parts of Cameroon, which is in the grips of a promotion frenzy by rival breweries.
Intense competition between beer companies has seen 20 million bottles given away since the start of the year.
The prizes, which are revealed beneath the bottle top, include mobile phones, luxury cars and of course more beer.
With a beer costing $1, some punters are using their winning bottle tops to pay for taxi rides."

I'd really like to know what economists think of this. Would a cab guy take gold from me instead of money. Isnt money the most liquid form and thus most valuable ? Ofcourse he would if the bullion markets are on a rampage. But something beer bottle-caps ?? So this is indication of the public feeling that these caps have a sustained and liquid value in the current economy.

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