Zimbabwe 100 trillion dollar bank note

[JackTheRipper]

Its equal to 0.40$

https://edition.cnn.com/2016/05/06/africa/zimbabwe-trillion-dollar-note/index.html

Zimbabwe’s 100-Trillion-Dollar Note Gains in Value

Zimbabwe's central bank allowed its citizens to exchange the country's almost worthless currency for US dollars. Its 100-trillion-dollar note is worth just 40 U.S. cents.

www.wsj.com

 

[Paitoo]

Why don't they just replace it with a new denomination. Someone like me will go nuts figuring out how much I am really spending

 

[flameboard]

Why don't they just replace it with a new denomination. Someone like me will go nuts figuring out how much I am really spending

What’s the cost of phasing out an old currency

 

[Paitoo]

What’s the cost of phasing out an old currency

No clue. Form the looks of Zimbabwe economy, it will probably be a good idea to save ink used in printing all those zeros and fat bundles of notes that don't amount to anything.

 

[Sharma Ji]

LOL

going to try and get my hands on one of these, I'll pay 10 times the price even.

 

[Wood]

Why don't they just replace it with a new denomination. Someone like me will go nuts figuring out how much I am really spending

They have already tried letting go of 0s at the end in the past.

Zimbabwe was prosperous when white farmers owned and cultivated in big farms. Land reforms were implemented without considering consequences to economy. The new landowners had no clue about farming and totaled the economy completely

EDIT: To clarify, I'm not against the native population of the country having equitable access to wealth and opportunities. But wealth redistribution should have taken into account the consequence of their policy actions and have moved carefully. Perhaps taxing farms to pay for education and employment of native population would have been better. It would be a slow but more manageable process

 

[Foinikas]

They have already tried letting go of 0s at the end in the past.

Zimbabwe was prosperous when white farmers owned and cultivated in big farms. Land reforms were implemented without considering consequences to economy. The new landowners had no clue about farming and totaled the economy completely

It was Rhodesia. And it was beautiful.

 

[Sharma Ji]

EDIT: To clarify, I'm not against the native population of the country having equitable access to wealth and opportunities. But wealth redistribution should have taken into account the consequence of their policy actions and have moved carefully. Perhaps taxing farms to pay for education and employment of native population would have been better. It would be a slow but more manageable process

I, otoh, and completely opposed to this "wealth redistribution" commie/socialist garbage..

maron ab, saalon.. enjoy your socialist bs where nobody is allowed to create any wealth

 

[HttpError]

If that is the case then 1 Bitcoin is equivalent to $30,000 as we speak. Why? for many reasons but one is a very limited supply of Bitcoin. The more you print, the less valuable things get.

 

[Pakistani E]

I have Zimbabwean 1 billion dollar notes already, looks like I'll have to dish out further pennies to become a trillionaire.

 

[Wood]

I, otoh, and completely opposed to this "wealth redistribution" commie/socialist garbage..

maron ab, saalon.. enjoy your socialist bs where nobody is allowed to create any wealth

This type of talk is moronic. People on the internet do not care for who you are or what you believe or want.

Wealth transfer is a reality in every country in the world. It happens in US or in India. Neither capitalism or socialism can exist in isolation.

 

[Sharma Ji]

but but good guy Mugabbey... gave everything to the people...

@jamahir what might have gone wrong here ?

 

[Sharma Ji]

This type of talk is moronic. People on the internet do not care for who you are or what you believe or want.

Wealth transfer is a reality in every country in the world. It happens in US or in India. Neither capitalism or socialism can exist in isolation.

me and jamahir have this back and forth, but not ill willed thing going for a whiles now.. i'm on a roll, karnai do pls... thank you, come again

there are already way enough government schemes going here, not opposed to it at all... after all nobody gets to take any of it to the grave and beyond, do they ?

We already have a mostly common sense laws and taxation system here, warts and all, as is the case literally anywhere else on earth... where these extreme ideologues go wrong is when, inevitably, like a grasshoper goes locust.. they go crazy.

decentralization is key, "less governance" pls,

 

[Wood]

me and jamahir have this back and forth, but not ill willed thing going for a whiles now.. i'm on a roll, karnai do pls... thank you, come again

there are already way enough government schemes going here, not opposed to it at all... after all nobody gets to take any of it to the grave and beyond, do they ?

We already have a mostly common sense laws and taxation system here, warts and all, as is the case literally anywhere else on earth... where these extreme ideologues go wrong is when, inevitably, like a grasshoper goes locust.. they go crazy.

decentralization is key, "less governance" pls,

You are entitled to your opinions as I am to mine.

I'm not a socialist. If you are new to this forum and have not read much of what I write, then you are not likely to have seen my leaning towards pro market determinism. But I do acknowledge the practical need for ALL countries to have wealth transfer mechanism in place. Those who do not understand the balance that is necessary between social support and 'less governance' are just immature. Walmart's low wage is subsidized by medicaid and food stamps. People who do not understand different view points on how social and economic factors influence each other are just like me when I was 20. A few years later, my view of the world matured by questioning everything I think I knew to be correct. I wish the same for others. But you are at your own mercy!

 

[Sharma Ji]

You are entitled to your opinions as I am to mine.

I'm not a socialist. If you are new to this forum and have not read much of what I write, then you are not likely to have seen my leaning towards pro market determinism. But I do acknowledge the practical need for ALL countries to have wealth transfer mechanism in place. Those who do not understand the balance that is necessary between social support and 'less governance' are just immature. Walmart's low wage is subsidized by medicaid and food stamps. People who do not understand different view points on how social and economic factors influence each other are just like me when I was 20. A few years later, my view of the world matured by questioning everything I think I knew to be correct. I wish the same for others. But you are at your own mercy!

My point, which you seem to have glazed over, was just that there is already enough of this "wealth transfer" in India via the various social welfare and medical and food schemes and other subsidies and so on.

the dynamics of a country like India are also vastly different from Canada etc.. one size does not fit all.

we're still figuring out inter species organ transplants, it wont work for the most part and will lead down the path of proven 100% genuine failed systems like communism.. and we should all be wary of that.

I know enough of the world, thanks.. you feel strongly about something, go do it.. do your charity, invest time, money and your own effort into whatever cause.. to expect everyone to be on board and go along with is a bit insane but, wtf

gtfo, already doing my part, not cheating anyone, not stealing.. nothing..