Buddy Can You Spare a Million
The Zimbabwean dollar has plunged to a new low: One US dollar now costs 25 million Zimbabwean dollars. Only four months ago, US$1 was equivalent to Z$1 million. The inflation rate has topped a mind-boggling 100,000 per cent. magic statistics
The fun part of this African economic miracle is that the currency is being printed in Germany. I suspect paid for in what little hard currency the Mugabe thugs have left.
March 8th, 2008 at 11:30 pm
“printed in Germany” hmm oddly funny when you recall the Wiemar Republics battle with inflation – people literally pushed wheelbarrows full of Marks around, Marks were wrapped up in Hershey Chocolate bars in the USA as a free give – away etc. I guess the Germans have experience with high volume printing.