Metropol

I saw 10 million dollars today. Only it was a zimbabwean $10million note . It even has an expiry date to cash it in by.
It is probably the equivalent of about 8 english pence.
The paper it is printed on is probably worth more than its cash value.

And we think we've got it tough! Thats the closet i'll ever get to a million quid and its worth peanuts.

I actually suspect that's already expired. A few months ago the Zimbabweans decided to reissue their currency again, getting rid of all those million/billion dollar denominations in favour of more standards fives, tens, fifties etc. But given an inflation rate of over 231 million per cent (that was in July - it's certainly higher now), they'll be back to needing billions of dollars to buy a loaf of bread before long. Robert Mugabe is clearly the... ermmm... Robert Mugabe of Zimbabwe.

For some unknown reason Mr Robert Mugabe, put a litmed on how much you can actually take out of the bank,

as everyone say, It wont get better until his in that coffin!

barcode wrote:For some unknown reason Mr Robert Mugabe, put a litmed on how much you can actually take out of the bank,

It's not an 'unknown reason'. There simply isn't enough money - hence the hyperinflation and the multi-billion dollar banknotes.

Mr Q wrote:It's not an 'unknown reason'. There simply isn't enough money - hence the hyperinflation and the multi-billion dollar banknotes.

Latest estimates are that the annual inflation rate has increased at such an exponential rate that it's now probably more than 1 trillion percent. Apparently the amount allowed in daily cash withdrawals is barely enough for a one-way bus ticket to work and whatever they earn when they get there is practically worthless by the time they are paid it. Even electronic transfers were suspended last month, so I imagine that the entire economy is grinding to a halt.

There is little point knocking even more zeros off the banknotes when they can't afford the paper to print another new set. Nobody seems to have suggested a solution to the spiral of hyperinflation once it reaches these proportions.

Stuart* wrote: Nobody seems to have suggested a solution to the spiral of hyperinflation once it reaches these proportions.

You should totally get onto that, stu.

Sput wrote:

Stuart* wrote: Nobody seems to have suggested a solution to the spiral of hyperinflation once it reaches these proportions.

You should totally get onto that, stu.

Many people have suggested n idea, we all got a nice big gun and shot uncle bob.

This "millions = peanuts" thing reminds me of the old Turkish currency, and it also makes me think of Weimar Germany's plight in 1923, which I am studying in History.

Don;t forget Hungary

barcode wrote:Don;t forget Hungary

Ah yes the old Forient (Ft), that kinda threw me back when I went over there, it averaged usually that a £1 was about 350Ft.