What the real crisis is

posted in: Money

03.12.09 3:34 pm

The crisis in Zimbabwe began in 2000, after President Mugabe took the land from whites and gave them black.
Immediately the entire agricultural sector was broken, the sanctions were imposed against the country and the inflation started to grow.
This year, inflation stood at a record 231 million percent a year.
You understand the number? 231 000 000% a year. Unemployment - 80%, a one third of the population left the country

Now let’s look at this pictures…

Here is a boy beggar in December last year. Got banknotes of 200 000 Zimbabwean dollars.

Here is a boy beggar in December last year. Got banknotes of 200 000 Zimbabwean dollars.



Little millionaire. One such bill - is about 10 cents. Official rate several times higher, but nobody use it.

Little millionaire. One such bill - is about 10 cents. Official rate several times higher, but nobody use it.


On the 22 December the banknote 50 000 Zimbabwean dollars appeared

On the 22 December the banknote 50 000 Zimbabwean dollars appeared


Then 750 000 appeared...

Then 750 000 appeared...


In the middle of December - 10 000 000 Zimbabwean dollars

In the middle of December - 10 000 000 Zimbabwean dollars


Now its February. Begged now get huge packs of 200 000 dollar bills...

Now its February. Begged now get huge packs of 200 000 dollar bills...


zimbabwe_10
April... 50 000 000 dollar banknote appeared.

April... 50 000 000 dollar banknote appeared.


May, inflation grows. 250 000 000 dollar banknote appeared

May, inflation grows. 250 000 000 dollar banknote appeared


A house is full of money. Looks good, but it worth nothing...

A house is full of money. Looks good, but it worth nothing...


To save the day, government issued new money, cutting 10 zeroes from old.

To save the day, government issued new money, cutting 10 zeroes from old.


But this actions didn't stop inflation, very soon 20 000 appeared...

But this actions didn't stop inflation, very soon 20 000 appeared...

And now the real face of the crisis:

Zimbabwe - the only country in the world where the largest banknote - 50 000, but a roll of cheap toilet paper is worth 100 000.
If you take 100 000 to change them for the smallest banknotes, worth 5 Zimbabwe dollars, you will receive 20 000 banknotes. In rolls of toilet paper - 72 pieces.
It turns out that in Zimbabwe it is 278 times cheaper to use the money instead of toilet paper than buying this very paper.
Moreover, the cheapest toilet paper in Zimbabwe is such unpleasant as these bills.

Here is a real crisis.

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