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TorgoX (1933)

TorgoX
  sburkeNO@SPAMcpan.org
http://search.cpan.org/~sburke/

"Il est beau comme la retractilité des serres des oiseaux rapaces [...] et surtout, comme la rencontre fortuite sur une table de dissection d'une machine à coudre et d'un parapluie !" -- Lautréamont

Journal of TorgoX (1933)

Saturday December 20, 2003
12:06 AM

When Zimbabwe ran out of money

[ #16435 ]

«The difficulties of getting to grips with inflation and the black market were compounded weeks ago when Zimbabwe ran out of money. [I.e., as inflation want kookoo, the entire national supply of banknotes eventually came to be worth so little that if you divided it evenly among the populace, each person would barely have enough to pay for a loaf of bread. -- SB]

Mr Mugabe's government dealt with the problem by interrupting a run of Z$50 notes - worth less than squares of toilet paper - and over-printing them on one side as "bearers' cheques" worth between Z$5,000 and Z$20,000. They have a limited life, some expiring next week, others at the end of June - raising the prospect of a national game of monetary musical chairs as the due dates approach.»

--"Money no longer talks in Mugabe's empire": Zimbabwe's entrenched international isolation is unlikely to alleviate the daily burden of its people

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  • This over-printing thing sounds familiar... was it in the 1920's where German inflation ran rampant?

    I believe it was common to put an extra ",000" or even ",000,000" on with rubber stamps since the banknote presses couldn't keep up with the inflation.
    --

    -- 
    Esli epei eto cumprenan, shris soa Sfaha.
    Aettot ibrec epesecoth, spakhea scrifeteis.