Coming Soon To A Banking System Near You: The Zimbabwe Dollar Effect

January 29, 2009

Following the Zimbabwe Dollar since about mid-December, we see:

“On December 16th, 2008 one million Zimbabwe dollars was worth $1.69. The day before that, one million Zimbabwe dollars was worth $3.44. As of now ( Dec. 29, 2008 ) one million Zimbabwe dollars are worth $0.37.”

Back to the present, one million Zimbabwe Dollars is now worth around $0.03. Maybe. It’s hard to say. Because the value of Zimbabwe’s currency has fallen so much, the currency converter I’ve used in previous posts no longer works with the figures provided. A few weeks after my first post on the ZD, Zimbabwe issued a $100 trillion dollar note in the midst of 230+ million percent inflation.

A handful of toilet paper is worth more than one Zimbabwe dollar.

Fasten your seatbelts. It’s going to be a bumpy night in America.

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2 Responses to “Coming Soon To A Banking System Near You: The Zimbabwe Dollar Effect”

  1. Harbinger Says:

    Everyone should prepare for the worse. Except of course, the wine and cheesers who are sitting pretty with their bonuses and bloated pay. The IMF says the global economy will grind to a halt this year.

    http://www.wsws.org/articles/2009/jan2009/econ-j29.shtml

    “The International Monetary Fund (IMF) said yesterday that it expects world economic growth this year to be the lowest since World War II. The Fund’s latest update to its 2009 World Economic Outlook forecasts global gross domestic product (GDP) growth of just 0.5 percent—sharply lower than the 2.2 percent annual growth it expected last November.

    IMF chief economist Olivier Blanchard declared: “We now expect the global economy to come to a virtual halt.”

    How did they get out of the last depression? Can anyone say Draft? It’s time for the shadow powers that be to make their move and go for it all, I suspect.

  2. jezekiah Says:

    Harbinger said: “It’s time for the shadow powers that be to make their move and go for it all, I suspect.”

    I feel like we live in a world that’s being wagered in a huge game of Texas Hold ‘Em by people that aren’t much smarter than the poker players that get put on TV.


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