Saturday, June 13, 2015

Zimbabwe is Paying People $5 for 175 Quadrillion Zimbabwe Dollars


This is the coda to Zimbabwe's monetary madness, which, at its peak in 2008, saw prices double every 25 hours, writes WaPo.

Six years since the hyperinflation ended, the government has decided it's finally time to retire its old currency. The U.S. dollar replaced it as Zimbabwe's official currency back in 2009 — that's what ended the inflation.

You can buy a 100 Hundred Trillion Dollars note as a souvenir at Amazon.

 -RW



at 8:40:00 PM

1 comment:

  1. BrutusJune 13, 2015 at 9:04 PM

    I get a kick out of how official that toilet paper looks. Reserve Bank of Zimbabwe… fat lot it did them. The most sincere thing about that artwork are the rocks, as in "dumb as rocks" to allow such printing madness.

    I'm grateful to their recent hyperinflation, however, because it helps me prove a point among people when discussing monetary policy or, in this day and age, lunacy. Most point to the new highs in our stock markets as an indication of a robust economy and wealth creation. I then ask them if they can tell me the best performing stock exchange in 2006. They're shocked to find that it was Zimbabwe's, rising a whopping 12,000% in one year. Those people must have been really really prosperous!

    Then I sit back and watch them squirm.

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