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HARARE (AFP) – Zimbabwe unveiled a 100 trillion dollar note Friday in the latest grim measure of its staggering economic collapse, heightening the urgency of a new round of unity talks set for next week.
The new 100,000,000,000,000 Zim-dollar bill would have been worth about 300 US dollars (225 euros) at Thursday's exchange rate on the informal market, where most currency trading now takes place, but the value of the local currency erodes dramatically every day.
Originally posted by David9176
"... Could this be where the US is headed?"
Governments will often try to disguise the true rate of inflation through a variety of techniques. These can include the following: Outright lying in official statistics such as money supply, inflation or reserves. Suppression of publication of money supply statistics, or inflation indices. Price and wage controls. Forced savings schemes, designed to suck up excess liquidity. These savings schemes may be described as pensions schemes, emergency funds, war funds, or something similar. Adjusting the components of the Consumer price index, to remove those items whose prices are rising the fastest.
Originally posted by David9176
"I can't even imagine .... That's almost mindboggling to even think it's possible."
Originally posted by David9176
"... Would they tell truth? What am i saying...lol..of course they wouldn't! Makes me wonder how bad it has really become....