Japanese occupation currency in Hong Kong

My friend's mother was born and grew up in Hong Kong before the Japanese invaded.

She told us that after the Japanese came, the Hong Kong residents had to turn in their British colony dollars for Japanese Hong Kong Occupation Dollars. Everyone was in the survival mode and at that time no one knew who would win the war. They complied (don't ask me the exchange rate as my friend's mother was only four). After the Japanese were defeated and the British returned, they could exchange their Japanese Hong Kong Occupation Dollars for British Hong Kong dollars. Old pre-war currency was still honored too in the post-war era.

Anybody know if the Filipinos could exchange their occupation currency for Filipino dollars post war?

Anyway, she also told of a ship laden with gold that sunk in Kowloon Harbor. No one went near it b/c it meant execution if you were caught stealing from the Emperor. One family recovered one bar and shaved off pieces to survive with. Bold move there. Regarding exchange of currency, one Hong Kong family was moving a cart o' cash to exchange and a truck driven by the Japanese soldier ran them over (probably deliberately). No one dared to steal the cash (execution for stealing and Chinese lives were cheap meaning zero).

 

From Wiki,

Well, that's no surprise. Hyperinflation happens when there's too much printed and the public loses faith in the currency. I supposed it just vanished like in a crack-up boom and became toilet paper.
Another interestting point is that MacArthur had their "mickey mouse" peso forged in the US (paper source was in Texas and when that ran out, transferred operations to Australia) to devalue and demoralize the Japanese. The Germans tried the same thing in WW II and I saw a few German forged British pound notes in the Black Museum (Scotland Yard evidence room).

 

Australian occupation currency...Bastards never got to spend it.


Australia is still dealing with inflation problems (as is the US) - Because we printed too much money during COVID - We paid businesses to keep them open when they had no customers...Costed Billions. We doubled the welfare during COVID also...People like me who read history yelled at the TV "you can't just print money! It doesn't work like that!" - And here we are with a cost of living crisis. (Face palm)