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I'm Fucking Rich!!!
by rabbi-tom
Thats MR Asshole to you!
17 years ago
Wait....no I'm not!
But this is actual Zimbabwe currency in use today.
Value...less than a dollar, But hey...how many can claim they have 100 Trillion Dollars in their pocket? (@Mouth Pinkies
The largest I saw previously was a 200 Million Mark German bill from the twenties...this is a mind blower they even printed it up!
But this is actual Zimbabwe currency in use today.
Value...less than a dollar, But hey...how many can claim they have 100 Trillion Dollars in their pocket? (@Mouth Pinkies
The largest I saw previously was a 200 Million Mark German bill from the twenties...this is a mind blower they even printed it up!
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Now, social theories, like say levels of trust (stopping at the tribal level but mostly at the family level, in much of Africa and SW Asia), on the other hand, are very relevant to the problems of many countries in those regions.
The value is less than a dollar of what country?.
It's a neat pic, but a scary reminder.
Yes, their inflation was being measured on a DAILY basis at levels that would cause riots here (USA) on an ANNUAL level. Paychecks were losing major value between the time they were handed out, and the time they could be deposited in a bank.
I mean, that's not an economy anymore... I'm surprised they didn't drop back to barter... it was probably close. May still be.
(stolen and summarized from, of course, Wikipedia)
The first Zimbabwean dollar was introduced in 1980 and replaced the Rhodesian dollar at par. At the time of its introduction, the Zimbabwean dollar was worth ZWD 1 = USD 1.47.
The ZWD was redenominated on 1 August 2006 at the rate of 1 revalued dollar = 1,000 old dollars. Together with the redenomination, the government devalued the dollar by 60 percent vs. the US dollar, from 101,000 old dollars (101 revalued) to 250 revalued dollars. ISO bank relabeled the redenominated Currency ZWN, but the bank of Zimbabwe couldn't make the change, so it remained ZWD. I'll use ZWN for this post. (ZWD 250,000 = ZWN250 = USD 1)
In February 2007, the Reserve Bank of Zimbabwe declared inflation "illegal", outlawing any raise in prices on certain commodities between 1 March and 30 June 2007. Officials arrested executives of some Zimbabwean companies for increasing prices on their products.
The Zimbabwe dollar was again devalued on 6 September 2007, to give an official exchange rate of ZW$30,000 to US$1, although the black market exchange rate was estimated to be ZW$600,000 to US$1. (USD 1 = ZWN 600,000 = ZWD 600,000,000)
On 14 February 2008, the Central Statistical Office announced that the inflation rate for December 2007 was 66,212.3%, and the unofficial exchange rate was ZWN $7.1 million to the US$1.
On 20 February 2008, the Central Statistical Office said that officially, inflation has in January 2008 gone to 100,580.2%.
On 21 May 2008, SW Radio Africa reported that, according to an independent financial assessment inflation in May 2008 jumped to 1,063,572.6%. The state statistical service has said there are not enough goods in the shortage-stricken shops to calculate any new (official) figures.
On 26 June 2008, the Central Statistical Offices (CSO) showed that annual inflation was set to end the month at well above 10,500,000%.
Reserve bank governor Gideon Gono announced on 30 July 2008 that the Zimbabwean dollar would be redenominated. Effective August 1, 2008, ZW$10 billion would be worth ZW$1; the new currency code was ZWR. (ZWR 1 = ZWN 10,000,000,000 = ZWD 10,000,000,000,000 = USD ???)
On 24 July 2008, the Institute of Commercial Management reported that ZW$1.2 trillion is worth the same as one British pound.
On February 2, 2009, the RBZ announced that a further 12 zeros were to be taken off the currency, with 1,000,000,000,000 ZWR being exchanged for 1 new (ZWL, fourth dollar). The banknotes of the fourth dollar are to circulate alongside the third dollar, which will remain legal tender until 30 June 2009.
Foreign currency was effectively legalised as a de facto currency on 13 September 2008 via a special program to officially license a number of retailers to accept foreign money. This reflected the reality of the dollarization of the economy, with many shop keepers refusing to accept Zimbabwe dollars and requesting U.S. dollars or South African rand instead.
As of the 29th January 2009 all Zimbabweans are to be allowed to conduct business in any currency.
Frickin' ow.
Along with the three fresh eggs it would buy, THAT DAY. Yeesh.
http://www.youtube.com/watch?v=4gfJzecctAE
The largest I have is a 500 billion dinar note from one of the old Yugoslav currencies. They went through awful hyperinflation in the late 80s and early 90s.
From the twenties of course...
Score!
during the 20 the Weimarian Republic government started to re-print existing money bills to save on paper costs. I have a bill originally printed early 20's which started out as 1000 RM, then got reprinted with 10.000RM, and a third time with 1 Billion RM (1.000.000.000.000)... in red ink. :P they even didn't use all those zeroes, they just printed the word onto it. apparently it didn't mean anything anymore to the people.
- W -
* Playing in the snow in Colorado like a cub *
just for the novelty value of course.
Another 10-15 years of Chinese imports and gainless foreign wars, and that'll be our future.