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Author Topic: Zimbabwe introduces $100 Trillion note ($30 USD)  (Read 1982 times)

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Offline Chris

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Zimbabwe introduces $100 Trillion note ($30 USD)
« on: January 16, 2009, 03:59:03 PM »
Zimbabwe rolls out Z$100tr note

Zimbabwe is introducing a Z$100 trillion note, currently worth about US$30 (£20), state media reports.

Other notes in trillion-dollar denominations of 10, 20 and 50 are also being released to help Zimbabweans cope with hyperinflation.

The latest annual figure for inflation, estimated in July last year, was 231m% - the world's highest.

"In a move meant to ensure that the public has access to their money from banks, the Reserve Bank of Zimbabwe has introduced a new family of banknotes which will gradually come into circulation, starting with the Z$10 trillion," Zimbabwe's state-run Herald newspaper quotes a bank statement as saying.

On Tuesday, a 50bn Zimbabwean dollar note was issued, less than a month after a Z$500m bill was released.


(more...)
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Offline Rick

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Re: Zimbabwe introduces $100 Trillion note ($30 USD)
« Reply #1 on: January 16, 2009, 04:18:29 PM »
Something to look forward too, with our currency.

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Offline Happy Fun Ball

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Re: Zimbabwe introduces $100 Trillion note ($30 USD)
« Reply #2 on: January 16, 2009, 04:43:40 PM »
I would be surprised that by summertime, Z$500 quintillion will seem like chump change.
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Offline Jim

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Re: Zimbabwe introduces $100 Trillion note ($30 USD)
« Reply #3 on: January 16, 2009, 09:18:48 PM »
Quote from: Ranger Rick on January 16, 2009, 04:18:29 PM
Something to look forward too, with our currency.





sadly, only too possible.

send my regards to SDJ !  missed hearing from my other old friend.
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My fellow Americans, there is nothing audacious about hope. Hope is what makes people buy lottery tickets instead of paying the bills. Hope is for the old gals feeding the slots in Atlantic City. It destroys the inner-city kid who quits school because he hopes he'll be a world-famous recording artist.

What's the difference between Sarah Palin and Barack Obama?

One is a well turned-out, good-looking, and let's be honest, pretty sexy piece of eye-candy.

The other kills her own food.

Offline SSG Snuggle Bunny

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Re: Zimbabwe introduces $100 Trillion note ($30 USD)
« Reply #4 on: January 24, 2009, 06:53:38 AM »
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Offline JohnnyReb

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Re: Zimbabwe introduces $100 Trillion note ($30 USD)
« Reply #5 on: January 24, 2009, 10:44:06 AM »
Quote from: Ranger Rick on January 16, 2009, 04:18:29 PM
Something to look forward too, with our currency.



Won't happen here.....you'll be expected to make your own rubber stamp and stamp the zero's on as required.
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“The American people will never knowingly adopt socialism. But, under the name of ‘liberalism’, they will adopt every fragment of the socialist program, until one day America will be a socialist nation, without knowing how it happened.” - Norman Thomas, U.S. Socialist Party presidential candidate 1940, 1944 and 1948

"America is like a healthy body and its resistance is threefold: its patriotism, its morality, and its spiritual life. If we can undermine these three areas, America will collapse from within."  Stalin

Offline Chris_

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Re: Zimbabwe introduces $100 Trillion note ($30 USD)
« Reply #6 on: January 24, 2009, 12:32:32 PM »
Why don't they just devalue or introduce a new currency?  Mexico successfully did that with the Nuevo Peso 10 years ago or so.  They were able to go from 3,000:1 to 3:1 to USD.  Of course when the Mexican President let the NP float it devalued a lot dang near overnight (I was there the week that it happened -- it was, to say the least, interesting).

But it can be done.
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