Zimbabwe Banks Create 100-Billion-Dollar Note

Posted by: BookGirl on: July 19, 2008

In: Global| Shady
Comment!

Before you go movin’ to Zimbabwe looking for the American dream, understand the country is introducing the $100 billion dollar bill because their inflation rate is at 2.2 million percent.

That’s a low figure. The AP reports the inflation rate could be as high as 15 million. Currently, 80% of the nation lives under the poverty line. A $100 billion dollar bill must feel like a cruel joke to them.

They will probably be burning their currency to heat their ovens like Germans did after WWI.

Article HERE.

Tags: currency, Economy, Money, poverty, yikes, zimbabwe

8 Responses to "Zimbabwe Banks Create 100-Billion-Dollar Note"

1 | Allison
July 22, 2008 at 10:24 am

I’m pretty sure the answer would have been to take money out of circulation, not print more of it. But it’s been a long time since I took an economics class. Those poor people need a whole monetary policy change.

2 | lolajones
July 23, 2008 at 8:37 am

I’m here in Zimbabwe right now. it beggars belief what’s going on here. I write about it occasionally on our blog xtremesport4u.wordpress. About once every 2 weeks I have blogged about the changing prices here etc. You might find it interesting reading!

3 | batguano101
July 23, 2008 at 8:57 am

Here is your chance to become a billionaire over night.

4 | Alec
July 23, 2008 at 1:09 pm

They won’t even have money soon, the German company responsible for printing the bills has opted out of its contract, which might begin to help. Just to keep value, a bus driver in Zimbabwe exchanges the Zimbabwean currency for other’s over three times a day because that is how much the Zdollar decreases in value every minute.

5 | BookGirl
July 24, 2008 at 3:34 pm

Allison:

You are my go to person for economics, so if you think they need a new monetary change that’s pretty bad news for those people.

Just comes to show you that even in our darkest hour we are still lucky bastards.

6 | BookGirl
July 24, 2008 at 3:35 pm

Lola:

Thank you so much for passing on this information. I appreciate your feedback. Good luck in Zimbabwe, keep in touch.

7 | BookGirl
July 24, 2008 at 3:36 pm

Batguano101:

Yeah, you are probably better off pretending to be a billionaire with Monopoly money… lol.

8 | BookGirl
July 24, 2008 at 3:37 pm

Alec:

Yikes.. you know you are in trouble when the company that prints your money doesn’t even want to waste the ink. That’s horrible. Thanks for passing that interesting information my way.