Saturday, January 17, 2009

The 100,000,000,000,000 Dollar Bill (that's $100 trillion)

It was on;y six months ago that Zimbabwe came out with a $100 billion bill. It finally happened; inflation in Zimbabwe is so bad, that the country finally issued a $100 trillion bill - that's 100,000,000,000,000 Zimbabwe dollars. This is happening because the government in July reported that they are experiencing inflation of 231 million percent - that's 231,000,000%. Yet the Libertarian think tank, the Cato Institute, believes that the real inflation rate is 89.7 sextillion percent - that's 89,700,000,000,000,000,000,000%.

By the way, that 100,000,000,000,000 Zimbabwe Dollar Bill is equal to about $300. And to think that just last April, the country had inflation of 'only' 100,000%.

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