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 Hope we don't have to see this day !!!!!!
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Posted on 01-10-09 11:15 PM     Reply [Subscribe]
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I hope we won't see this day. But you never know, these fu@#ing politicians might make Nepal worst than Zimbabwe.


 


Zimbabwe introduces $50 billion note


HARARE, Zimbabwe (CNN) -- Zimbabwe's central bank will introduce a $50 billion note -- enough to buy just two loaves of bread -- as a way of fighting cash shortages amid spiraling inflation.


The country's acting finance minister, Patrick Chinamasa, made the announcement in a government gazette released Saturday.


Although Chinamasa did not give the date on which the $50 billion and new $20 billion notes would come into circulation, an official at the Reserve Bank of Zimbabwe said the notes would be distributed to all banks by the end of Monday.


Zimbabwe is grappling with hyperinflation now officially estimated at 231 million percent, and its currency is fast losing its value. As of Friday, one U.S. dollar was trading at around ZW$25 billion.


When the government issued a $10 billion note just three weeks ago, it bought 20 loaves of bread. That note now can purchase less than half of one loaf.


 


 
Posted on 01-11-09 5:11 AM     Reply [Subscribe]
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Wow! I wonder what a typical paycheck in Zimbabwe looks like!

Inflation @ 231 MILLION percent!! dang!
 
Posted on 01-11-09 9:57 AM     Reply [Subscribe]
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I am sure this will be that case in a year or two in Nepal, too. But I am really hoping we all don't have to see that day.

 


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