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Abstract

macrumors Penryn
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Dec 27, 2002
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http://news.bbc.co.uk/2/hi/africa/7515823.stm

Zimbabwe is to introduce a bank-note worth Z$100bn in response to rampant inflation - but the note will barely cover the cost of a loaf of bread.

Some Zimbabweans are already calling for higher denominations in a country where the official annual inflation rate has exceeded 2,200,000%.

Independent economists believe the real rate is many times higher.

Zimbabwe's meltdown has left at least 80% of the population in poverty, facing mass shortages of basic goods.

The country's central bank has introduced several new notes already this year in response to the hyperinflation.

In January, a Z$10 million note was issued, followed by a Z$50 million. By June the denominations had reached tens of billions.

Daily bread

In a notice in the state-controlled Herald newspaper, central bank governor Gideon Gono said the Reserve Bank of Zimbabwe would introduce the new notes - known as special agro-cheques - to help consumers.

"This new $100 billion special agro-cheque will go into circulation on Monday," the notice said.

But Zimbabwe residents say the latest note is already worthless, and does not even cover their daily lunch.

"Nowadays, for my expenses a day, I need about Z$500 billion," one resident said.

"So Z$100 billion can't do anything because for me to go home I need Z$250 billion, so this [note] is worthless."

Zimbabwe was once one of the richest countries in Africa.

But it has descended into economic chaos in recent years, with many international observers blaming the policies of President Robert Mugabe.
I hope their Zimbabwean accountants are proficient at bookkeeping in scientific notation. :eek:
 
I hope their Zimbabwean accountants are proficient at bookkeeping in scientific notation.

Oh I LOL'd on that one.

I would love to get my hands on one of these.
just to have that 'much' $ on me.

too bad cannot exchange 1:1 for US dollar, then I could retire. :D
 
I would love to get my hands on one of these.
just to have that 'much' $ on me.

too bad cannot exchange 1:1 for US dollar, then I could retire. :D

I saw some notes for sale yesterday.
Just have a look at shops or dealers in Coins and medals etc.

You too can be a Zim millionaire (err… billionaire, no scratch that… zillionaire) for as little as £10… :eek:

The notes themselves are terribly crude… you could easily run off copies with a decent scanner and printer. Which I suspect is how they are being printed. Truly not worth the paper they are printed on.
 
I saw some notes for sale yesterday.
Just have a look at shops or dealers in Coins and medals etc.

You too can be a Zim millionaire (err… billionaire, no scratch that… zillionaire) for as little as £10… :eek:

The notes themselves are terribly crude… you could easily run off copies with a decent scanner and printer. Which I suspect is how they are being printed. Truly not worth the paper they are printed on.

My friend and I were looking to 'invest' in some Zimbabwean dollars. Obviously we know it's impossible to recover from hyperinflation without massive reform, so there was zero hope of making a dime off of it. In fact, at their rate of inflation, it'd be worth nil in several days. Nonetheless, spending a couple bucks to say that you are legitimately a billionaire would be tremendously fun.
 
Sorry, but can someone please explain how this is funny?

I bet you wouldn't be laughing if it was your economy collapsing to an unrecoverable state.

I have some close ties to Zim, and I think it's utterly horrific what's going on there because of inflation (ignoring all the other problems for a moment).
 
Sorry, but can someone please explain how this is funny?

I bet you wouldn't be laughing if it was your economy collapsing to an unrecoverable state.

I have some close ties to Zim, and I think it's utterly horrific what's going on there because of inflation (ignoring all the other problems for a moment).
It isn't exactly 'funny' but it just quite interesting. Some people word things wrong....
 
Sorry, but can someone please explain how this is funny?

I bet you wouldn't be laughing if it was your economy collapsing to an unrecoverable state.

I have some close ties to Zim, and I think it's utterly horrific what's going on there because of inflation (ignoring all the other problems for a moment).

I think it's possible for a topic to be both funny and serious. Why deny either?
 
...I bet you wouldn't be laughing if it was your economy collapsing to an unrecoverable state...
While my economy is collapsing it's nice to have something to laugh about, and 100,000,000,000.00 denomination notes are funny in an absurd sort of way.
 
While my economy is collapsing it's nice to have something to laugh about, and 100,000,000,000.00 denomination notes are funny in an absurd sort of way.

Sorry to say this due to bigandy's feelings regarding this, but I posted it because I thought it was funny too. The situation Zimbabweans are in isn't funny. I just find the absurdity of a 2 200 000% inflation and $100,000,000,000 banknote funny.
 
Sorry, but can someone please explain how this is funny?

I bet you wouldn't be laughing if it was your economy collapsing to an unrecoverable state.

I have some close ties to Zim, and I think it's utterly horrific what's going on there because of inflation (ignoring all the other problems for a moment).


It can be recovered from but I really do not know how. Germany after WWI when though a state of that inflation where it took wheel barrial full of Marks to buy a bread. And sometimes prices where climbing so fast by the time you got though the line to buy the bread prices had already shot up.
 
Sorry, but can someone please explain how this is funny?

I suppose we could find someone who could say the same of your "abducted by aliens" avatar or your "I love your mother" signature

You have close ties to this one, so the humor is understandably lost on you

I don't think anyone thinks the plight of the people is funny, but the absurdity of the bill's denomination is what is attracting attention

Woof, Woof - Dawg
pawprint.gif
 
Sorry, but can someone please explain how this is funny?

I bet you wouldn't be laughing if it was your economy collapsing to an unrecoverable state.

I have some close ties to Zim, and I think it's utterly horrific what's going on there because of inflation (ignoring all the other problems for a moment).

My father was born in Rhodesia, and everyone in his family who used to live there has left, and it is very sad. However, we still chuckle about it occasionally (in more of a sad, ironic reflection).

Hard to believe that only a little while ago this was the breadbasket of Africa. :eek::(
 
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