World Zimbabwe introduces $100 trillion banknote

[The Helper]

Zimbabwe's central bank will introduce a $100 trillion Zimbabwean banknote, worth about US $33 on the black market, to try to ease desperate cash shortages, state-run media said on Friday.

Prices are doubling every day and food and fuel are in short supply. A cholera epidemic has killed more than 2,000 people and a deadlock between President Robert Mugabe and the opposition has put hopes of ending the crisis on hold.

Hyper-inflation has forced the central bank to continue to release new banknotes which quickly become almost worthless.

There is an official exchange rate, but most Zimbabweans resort to the informal market for currency transactions.

In addition to the Z$100 trillion dollar note, the Reserve Bank of Zimbabwe plans to launch Z$10 trillion, Z$20 trillion and Z$50 trillion notes, the Herald newspaper reported.

Zimbabwe introduces $100 trillion banknote

Zimbabwe's central bank will introduce a $100 trillion Zimbabwean banknote, worth about US $33 on the black market, to try to ease desperate cash shortages, state-run media said on Friday.

www.telegraph.co.uk

 

[Samael88]

Is "trillion" even a number?
I never heard of it

They are doing the same as the germans did after the first world war

 

[Tythoid]

Thier thinking of printing money in England and Zimbabwe is the utlimate example of why not to. When you need a bucket full of cash instead of a wallet to do the shopping and you need to save a few thousand pennies to buy a penny sweet the system is broken.

 

[New_U.S.]

Zimbabwe's central bank will introduce a $100 trillion Zimbabwean banknote, worth about US $33

100 Trillion in Zimbabwe's currency is only 33 dollars here?

 

[BANANAMAN]

wow talk about shitty.

 

[MurderMode]

yeah I've read stories on this before. Money is tied up in bricks and weighed (not counted) because it costs so much to buy even the most mundane of things, eg. something like $6 billion for a carton of eggs. They need to keep increasing the note value to keep up with the rest of the world, but the thing I don't understand is why...

 

[phyrex1an]

yeah I've read stories on this before. Money is tied up in bricks and weighed (not counted) because it costs so much to buy even the most mundane of things, eg. something like $6 billion for a carton of eggs. They need to keep increasing the note value to keep up with the rest of the world, but the thing I don't understand is why...

http://www.youtube.com/watch?v=t_LWQQrpSc4

 

[Romek]

I couldn't stop laughing at this.

A box of matches costs over $1,000,000 there! (I couldn't be bothered to work out the exact amount)

 

[Miz]

Is "trillion" even a number?
I never heard of it

They are doing the same as the germans did after the first world war

Million -> Billion -> Trillion -> quadrillion -> quintillion

100 Trillion Note = A 100 Million Millions Currency Note

http://en.wikipedia.org/wiki/Names_of_large_numbers

 

[NoxMortus]

100 Trillion Note = A 100 Million Millions Currency Note

Is it not a 100 thousand million note?

~ I searched it and you are indeed correct.

 

[enouwee]

Quite a while ago, as seen in Dilbert:

 

[Akatsuki]

I remember reading that Germany did this after World War I. Money became so useless that parents gave children bricks of money to play with because it was so worthless.

 

[Wiseman_2]

I hope Mr. Brown is listening...
...but I seriously doubt it.

 

[DogOfHavoc]

Hmm imagine you were to exchange and get $1 trillion dollars in Zimbabwe, and then in the future their economy balances to a point where it is actually worth something...RICH

 

[Akatsuki]

If only they can find something that will make them rich very quickly. Like find a ton of oil, finding a bunch of precious metals, some rich guy decides to move there and start a huge business and he also brings an army with him to protect himself and his company but because this rich guy decides to move there he ends up creating a bunch of jobs and helps stimulate the economy.

 

[BANANAMAN]

printing more money doesn't solve anything....