A plaque remaining from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem.

Above, a 1934 plaque from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem. Discarded as trash in 2006.

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Entry from July 24, 2012
Rabbits (dollars, or any fiat currency that can be printed in large amounts)

The first Belarusian ruble had a European hare on the currency, giving it the nickname of “rabbits.” In July 2012, Simon Black of the Sovereign Man blog wrote a post from Ukraine titled “You’ll love the new nickname they have for the dollar here…” The post was also featured on the popular financial blogs Zero Hedge and Business Insider.

Black wrote:

“They even have a funny nickname for these regional currencies that get inflated and devalued by corrupt central bankers and politicians—rabbits… because they grow and multiply in such huge numbers so quickly.”

Several comments mentioned that “rabbits” refers to the Belarusian ruble only, and not to the dollar or the euro.


Belarusian ruble
1 ruble
Image of the running European Hare or “zaichik” which earned the currency its nickname.

Sovereign Man
You’ll love the new nickname they have for the dollar here…
Simon Black on July 23, 2012
July 23, 2012
Kiev, Ukraine
(...)
Here in Ukraine, for example, people who have any level of wealth whatsoever hold hard currency– dollars and euros, rather than the local hryvna.

(Naturally, their relative confidence in dollars and euros is misplaced, though I was pleased to see that gold is starting to penetrate the cultural psyche here.)

They even have a funny nickname for these regional currencies that get inflated and devalued by corrupt central bankers and politicians—rabbits… because they grow and multiply in such huge numbers so quickly.

Zero Hedge
Guest Post: You’ll Love The New Nickname They Have For The Dollar Here…
Submitted by Tyler Durden on 07/23/2012 12:27 -0400
(...)
COMMENTS
marriedgeordie
Tue, 07/24/2012 - 02:03
Simon, you have got to be kidding to suggest that there is wealth creation in Ukraine, when the country is literally governed by a gang of criminals. The air conditioning business story is much more typical of what’s going on in that country now. Oh, you did not actually bother to give a single example to support your claim anyway.

And, rabbits is the nickname of the national currency of Belarus only - because one of the denominations actually had a rabbit depicted on the note. Ukrainians used to call their currency notes “candy wrappers” a while ago, but I have not seen this name used for a number of years.

Business Insider
You’ll Love The New Nickname They Have For The Dollar Here…
Simon Black, Sovereign Man|Jul. 23, 2012, 6:23 PM
(...)
COMMENTS
Abandoned on Jul 24, 3:11 AM said:
What a… No one calls hryvnia “rabbits”. Rabits is a nickname of belorussian rouble, cause originally there were animals on them. 

Posted by Barry Popik
New York CityBanking/Finance/Insurance • (0) Comments • Tuesday, July 24, 2012 • Permalink