The catalyst that set the stage for the Hyperinflation in Zimbabwe was in the late 1990s shortly after the confiscation of private farms from white landowners, and the governments being involved in the Second Congo War. As a result of the chaos their economy collapsed and as usual the government turned to the printing press. The last governments official inflation rate in July 2008 was 231,150,888.87%, by the Mid-Nov 2008 the inflation rate was estimated to be 79,600,000,000%. Take a good look at all those zero's, to us outsiders we just think it's ridiculous but to the Zimbabwean people it was utter devastation.
Now the zero's really start to multiply into the trillions.
Why did they use a pile of rocks pictured on the notes?
Because you would have to have rocks in you head to trust government paper.
The last printed note was the largest note ever printed by a government.
If you look at the top left corner it has written I promise to pay the bearer on demand What are they promising to pay?
As with all fiat paper rubbish the governments word isn't worth the paper it's printed on.
Thanks for visiting my post and I hope you liked it.
Have you bought your silver and gold yet?
I remember wen Mike Maloney use to give these away in bundles at his conference years ago.
Today these are collection fiat currencies that are worth in the thousands.
http://m.ebay.com/itm/222535869331?_mwBanner=1
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Yeah I know, I wish I bought a few thousand off the when I had the chance. Cheers
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Main question should be, have you bought your Bitcoin and Ethereum yet? ;)
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How many zero's can you put on a bitcoin, 00000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
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If that's what you choose my friend, that's up to you, I prefer metal myself. Cheers
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Funny how people forget about yesterday so quickly.
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It wont be funny my friend when it happens to the whole world at the same time. Thanks for the comment. Cheers
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It was sarcasm, no not funny at all but instead really sad.
And it is coming.
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Yes I knew that my friend, I was just thinking of the ramifications of what I was writing about at that time. Just thinking how much of peoples wealth is being stolen every bloody day by these a-holes. Thanks for the reply. Cheers
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I remember news reports from the time talking about a dozen eggs or a loaf of bread costing 1 billion dollars, and it only got worse. It sounded like a scifi story to me then as a kid.
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Thanks for the reply, it was very devastating for the people trying to live under these circumstances. Cheers
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I have a 50 trillion note that I use as a bookmark. It is in a plastic sleeve that is worth more than the note lolz.
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Have you seen what these larger note are selling for on Ebay now? Cheers
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Huh, 20 bucks...not bad. I think I bought it for 4 bucks a few years ago. I should have bough a whole stack of them!
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Paper is paper, metal is better!
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I think so too
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We all have a choice were we put our money. Cheers
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Cool the numbers are a bit bigger than my pre inflation ones. Thanks for sharing.
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I own one of those 100 trillion dollar Zim notes. Bought it off ebay for $2. It's worth much more as a souvenir than as a debt instrument for Zimbabwe.
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Yes I know they are selling for a pretty good price now, wish I had bought a few thousand of them.LOL
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I was about to write about this topic the hyper-inflation in Zimbabwe.
In Venezuela we are in highway to Zimbabwe, as far hyper-inflation is concerned.
I can tell, you read and study hyper-inflation in economy, as I did. But living it, it is a complete different story. It is really horrible.
BTW, the bank notes in the photos are from your collection?
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I really feel sorry for the people of Venezuela, You are being undermined by your own government and outside forces, It's really sad to see. The sadest thing is Venezuela is just the canary in the coal mine my friend, the rest of the world will be joining the misery in the future. Yes these notes are from my collection. Thanks for the reply. Cheers
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Coming to a place near you soon. Cheers
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I think so my friend, but it wont be an isolated event this time, it will be global. Cheers
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Oh yeah. Keep stacking my mate
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