With $5 you can be a Zimbabwe millionaire

BBC:

Zimbabwe is to start circulating a new 200,000 Zimbabwe dollar note, in a bid to tackle the country's inflation, the highest in the world.

The new note, issued by the Reserve Bank of Zimbabwe from Wednesday, can buy 1kg (2.2lb) of sugar.

Food and fuel shortages have become common as the government relies more heavily on imports, pushing prices to new heights.

The official annual rate of inflation in Zimbabwe is nearing 5,000%.

In practice, this means the price of a loaf of bread costs 50 times more in cash than it did a year ago.

The new note is worth US$13 at the official exchange rate or $1 on the black market.

...
I think Bob Mugabe and his printing press can drive inflation to new records. I think he is missing an opportunity to raise funds by not marketing them in the US. Of course there is the problem of paying for the transportation when the carriers will not accept the currency.

Comments

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

29 % of companies say they are unlikely to keep insurance after Obamacare