Zimbabwean 500,000,000 dollar bill photo

July 17, 2008

Inflation has hit 2.2 million percent in Mugabeland, AKA Zimbabwe, as admitted by the government. Here’s a photo of a man holding some Zimbabwean $500 million bills. And another. There’s actually a 50 billion dollar bill too, haven’t seen a photo of it.

Things are so bad the country is running out of paper to print money on. The German supplier of bank note paper has cut off Mugabe off. If Mugabe can’t keep printing money, he can’t pay the outrageous salaries (trillions of dollars) that prop him up. The United States government, Queen Elizabeth stripping him of his honorary knighthood and his domestic political opposition haven’t been able to oust him. The surrounding African leaders refuse to try to oust him. So it’s up to a German paper maker to do it.

Inflation hell that a US child of the 70s wouldn’t even recognize:

The impact on consumers of the inflation juggernaut is now such that prices of basic goods like bread, when available, go up by 30-40 percent per day.

For example, the price of a loaf of bread on Monday which stood at 60 billion Zimbabwe dollars — one US dollar at the then black market rate but 400 according to the official exchange — had risen to 100 billion little more than 24 hours later.

A three-star hotel in the capital has been hiking its room rates by around 300 percent every three days and in the latest round of increases, rates shot up from around four trillion dollars to 10 trillion.

At a black market rate of 1 US dollar == 100 billion ZImbabwean dollars, A hotel room in Harare would still be $100 US. Not bad I guess.

LA Times:The price of the state-owned Herald newspaper has leaped from 200,000 Zimbabwean dollars early this month to 25 billion now. Before the crunch, a beer at a bar in Harare, the capital, cost 15 billion Zimbabwean dollars. At 5 p.m. July 4, it cost 100 billion ($4 at the time) in the same bar.

An hour later, the price had gone up to 150 billion ($6).

And you’re worried about the price of gas??

Followup on Oracle: Thankfully Oracle doesn’t price its products in Zimbabwean dollars. Maybe then companies would have to be even more accepting of open source databases.


One Response to “Zimbabwean 500,000,000 dollar bill photo”

  1. […] Zimbabwean 500,000,000 dollar bill photo […]

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