Zimbabwe to print first $100 trillion note

[Soulmate7]

Zimbabwe's central bank says it will soon introduce a 100 trillion dollar note as the once prosperous country battles to keep pace with hyperinflation that has caused many to abandon the country's currency.

The Reserve Bank of Zimbabwe said the new notes that includes 50 trillion, 20 trillion and 10 trillion would be released for the "convenience of the public," according to statement released Thursday.

"In a move meant to ensure that the public has access to their money from banks, the Reserve Bank of Zimbabwe has introduced a new family of bank notes which will gradually come into circulation, starting with the 10 trillion Zimbabwe dollar," the bank said in its announcement.

The new 100 trillion dollar bill would be worth about $300 in U.S. currency. A loaf of bread in Zimbabwe now costs about 300 billion Zimbabwean dollars -- and like most commodities, the price increases every day.

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Watch this happening on a global scale. We are now in a period of deflation. It is "usually" followed by hyper-inflation.

[Steve_A]

Hi Soulmate7,

That should crank up the billionaires club then. Forbes will have a hey day!

Best regards,

Steve

Originally Posted by Soulmate7

Full article

Watch this happening on a global scale. We are now in a period of deflation. It is "usually" followed by hyper-inflation.

[Soulmate7]

Originally Posted by Steve_A

Hi Soulmate7,

That should crank up the billionaires club then. Forbes will have a hey day!

Best regards,

Steve

Hello Steve A,

Your comment reminds me of an article I read some time ago. It said that in the year 2012 there would be a record number of new millionaires. I may have an idea how that could work out.

As for billionaires, Forbes came with a new list yesterday. They lost a lot of their wealth it seems and their number has decreased dramatically.
http://www.forbes.com/2009/03/11/wor...ires_land.html