March 11, 2014

Fake it til you Make it

You've probably heard the saying before. Well, when it comes to money, the Zimbabwe 100-trillion-dollar note takes the cake. In 2008 the Zimbabwe government decided to turn up and add a few zeros to their economy by just going ahead and printing some new money. Ka-ching, straight to the bank. The introduction of all this "money" out of thin air meant that now everyone was charging more.

(All this bread just to get some bread!!!!)

At one point in 2009, a hundred-trillion-dollar bill couldn't buy a bus ticket in the capital of Harare.

The true number of 100-trillion-dollar bills in circulation is only known to central bank officials in Zimbabwe, but dealers estimate there to be between 5-7 million of them ever printed and only a few million ever released. The country abandoned the currency completely in 2009. However, since then the actual 100-trillion dollar note itself has been gaining value outside the country. A piece of paper that had once cost less than 20 cents to produce, because it became rare and storied, has now become collectible and a novelty item. These bills sell from anywhere between $5 to $5000 depending on when & where you're getting it from.

This just goes to show that sometimes what don't make sense, will make dollars.