Chinese Ghost Money Experiences Underworld Inflation

For hundreds of years,Chinese tradition dictates the burning of “ghost money” to ensure the comfortof ancestors in the afterlife.  Ghostmoney is fake paper bills emblazoned with the image of the Emperor of theUnderworld and are sold in shops offering a wide range of other paper productsmeant to be burned for the dead’s benefit like iPods, cupcakes, suits, sixpacks of beer, and even pet products.

The Chinese have typically burnedsmall denominations of fives or tens, but due to inflation, the value of thebiggest bills has grown considerably in recent decades.  With the upcoming Hungry Ghost festival, themost popular bill is the $1 trillion dollar bill because “it allows the ghoststo buy many things, such as a fancy car and a big house.”  However, small bills are still sold becausethe ghosts do need some spare change.  Deceasedancestors also need ghost money in order to bribe bureaucrats and support theirgambling habits.

Click here for a videodescribing this otherworldly practice.

SeeTe-Ping Chen, In Hong Kong, Inflation WorriesSpook the Spirit World, The Wall Street Journal, Aug. 19, 2013.