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Friday, January 16, 2009

Zimbabwean's to print 100 Trillion Dollar Bank Notes !

This guy is going out to get a pack of smokes and a newspaper !

Zimbabwe's hyperinflation has become so extreme that the treasury there is set to print 100 trillion, 50 trillion, 20 trillion and 10 trillion notes. 100 trillion Zimbabwean dollars are worth about US$300.

Even vegetable vendors prefer the U.S. dollar, South African rand or Botswanan pula, and most workers now demand their salaries in foreign currency. Doctors and nurses have been on strike since last September, demanding salaries in U.S. dollars. The strike coincided with a cholera epidemic that now has claimed more than 2,000 lives.

Last week, the state media reported that most teachers had left their jobs. As a result, the end-of-year examinations taken in November are yet to be graded after the markers demanded their wages in foreign currency. Schools are yet to re-open this year awaiting the examination results

Zimbabwe had issued 10 billion dollar notes in January 2008. They went to 100 billion dollar notes by July 2008 and now 100 trillion dollar notes...That is 100,000% inflation !...but don't worry that could never happen here...Right ?

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