Not embargoed - the Libya 1 Dinar post-Gaddafi issue available for purchase at www.robertsworldmoney.com
Not embargoed – the Libya 1 Dinar post-Gaddafi issue available for purchase at www.robertsworldmoney.com (scroll down to see note)

Who would have thought that an embargo to hurt other countries comes home to hurt US businesses. I understand fully that we cannot trade with certain countries and regimes, but I think the Government has “smitten a mighty ax” to fell small businesses in the US. Let’s face it, it will only be small US business that will follow the rules (and probably some European Countries)

Anyway, now eBay and PayPal (this is not bashing them, they have to follow Government regulations like anyone else, and it also hurts their business, so I am sure they would agree, in part, with my missive here) will not allow you to sell banknotes from:

  • North Korea
  • Sudan
  • Syria
  • Iran
  • Cuba

So all these listings have been removed from eBay and my website (just to bore: www.robertsworldmoney.com) and I will no longer sell them at this time. So, an embargo to hurt these countries have hurt American businesses, and not just small businesses like myself, but others in the US (and other compliant countries) such as coin sellers, stamp sellers, postcard sellers and probably more. Also, it has stopped collectors who wish to add these interesting items to their collection from doing so. In addition, just think of the income lost to eBay and PayPal – remember these companies hire people and pay wages.

Now these wage earners spend money here in the US, and that in turn employs other people – the circle of consumerism….

So, let me think (not easy for me I know) and ask a stupid question (again, I am pretty much an expert here) who is losing from this?  Surely not these countries, I don’t think selling paper notes (probably printed in China for most of these countries) or stamps, coins, postcards etc is going to bring the regime down, and remember this embargo (except maybe Cuba) was enacted after I personally (and sure this goes for other sellers of collectible items) had already brought the items. I am not going to buy more, but selling what we already have will not make any difference and the bottom line (I know, I don’t like using this term either, but suits this I think – bottom has no inference here to the people who think up these Government regulations, or don’t think in my opinion) is the only people being hurt are the good old American small business, who helped create the wealth in this country.

Well, the law is the law and I may not agree with it (and it is good we do actually live in a country where we can do so, unlike say some of the countries on the embargo list) but I will definitely follow the law and I have removed all my eBay listings and web listing for these countries, and will suffer the loss of income and sales (and reduce my spending accordingly – so can only spend 50 cents instead of my usual dollar a week) However, the thing that will “Irritate me the most” is that you will still see these items for sale on eBay (probably not many US, Compliant European countries) but from Singapore, China etc, who will reap the benefit of the extra sales – I suppose we should try to put a silver lining on this. China will have more money to lend us.

I am not political, so please don’t take this as a political blog, but just one that asks, why does the Government do it all can to hurt small businesses and stifle the freedom of American people to buy and collect items from these countries? Of course, because of the public media attention these countries are getting, guess what, people are interesting in collecting items, such as banknotes, stamps, coins, postcards etc from here – these are in the words of someone cleverer than I (that is about the whole population) These collectible items are a window these countries, and helps (maybe a little) in understanding them or seeing what is important to them – just see who is featured on the North Korea banknotes?

Finally, on a positive note, after Libya’s revolution, there are some beautiful new notes being issued (if there was an embargo on Libyan items, I missed that one) check out the amazing new 1 dinar note:

Robert – Robert’s World Money (except, North Korea, Syria, Sudan, Iran, and Cuba)

Here are some notes you can still buy, but hurry just in case they get embargoed also …

Cayman Islands10 Dollars p40a
Cayman Islands10 Dollars p40a – available for purchase at robertsworldmoney.com (scroll down)
East Caribbean States 5-100 Dollars pick new 2008-2012
East Caribbean States 5-100 Dollars – available for purchase at robertsworldmoney.com (scroll down)
Qatar 50 Riyals p28
Qatar 50 Riyals – available for purchase at robertsworldmoney.com (scroll down)
Taiwan 50 Yuan p1984
Taiwan 50 Yuan – available for purchase at robertsworldmoney.com (scroll down)
Ukraine1-100 Hryvnia Set 7 notes
Ukraine1-100 Hryvnia Set 7 notes – available for purchase at robertsworldmoney.com (scroll down)
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