Coming Soon To A Banking System Near You: The Zimbabwe Dollar Effect
January 29, 2009
“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.