Zimbabwe inflation soars to 2.2million%

[kumarmohit]

@naveen

Why shud US help, what would they gain? After all every country looks for its own profit first and US is the king of the hill in such things..

 

[Rahim]

^Then why UN was constituted? To bring peace & stabilty, right? Where are they? Busy looting Iraq, i guess.

 

[goobimama]

but don't you think its somewhat odd now ? that we people discuss about technology, engage in fan wars and start eagerly waiting for different hardware, while at the same time, those poor people of zimbabwe suffer, with their money seeming more worthless than ever and the government being forced to print 1,000,000$ notes ?

Hmm. You appear not to understand what I meant to say. I meant to say that here I was thinking of such trivial things like iPhones when these people are having such major problems.

 

[narangz]

God, bless citizens of Zimbabwe

 

[thewisecrab]

@Goobimama
Thats exactly what MetalHead said
And thats right..while we talk about poor download speeds, MS flame wars, and the likes, these people (in an era of technological advancement) live each day with fear of going bankrupt and dying of starvation. I've learnt about Hyper inflation during the Great Depression of the 30s in Europe which effected Germany the most and (sadly) led to the rise of dictatorship (Read: Nazism, Fascism came about during the Depression and showed how disgraceful can life be).
I hope the situation improves and History doesnt repeat itself

 

[MetalheadGautham]

@Goobimama
Thats exactly what MetalHead said
And thats right..while we talk about poor download speeds, MS flame wars, and the likes, these people (in an era of technological advancement) live each day with fear of going bankrupt and dying of starvation. I've learnt about Hyper inflation during the Great Depression of the 30s in Europe which effected Germany the most and (sadly) led to the rise of dictatorship (Read: Nazism, Fascism came about during the Depression and showed how disgraceful can life be).
I hope the situation improves and History doesnt repeat itself

+1. All this suffering makes me feel like a hypocrite when I try to decide which distro to use, while these poor people are trying to decide which item to mortgage or which country to run away to. Families decide which child goes hungry each night.

 

[thewisecrab]

Reading this i remember the saying:
I cried and cried when I didnt get new shoes until I saw the man who had no feet

 

[enticer86]

1 Indian Rupee = 577,882,197 Zimbabwe Dollar

Source:
Current rate from *www.oanda.com/convert/classic

 

[kumarmohit]

^Then why UN was constituted? To bring peace & stabilty, right? Where are they? Busy looting Iraq, i guess.

UN aur US mein confuse mat ho. US country hai - America, UN international body hai. Iraq mein US hai, UN ne attack allow nahi kiya tha!

UN ne Zimbabwe mein jo ho sakta tha woh kiya tha. yahan se aagey woh bhi kuch nahi kar sakta.

 

[mayanks_098]

OMG thats fu**ing sad.
All our good wishes to them.
wish i had a few US $ in my paypal for them.( Those USD will mean huge for them.)

 

[hellknight]

Here's an update.. Zimbabwe issued the first 100bn dollar note
Here check this out
*timesofindia.indiatimes.com/World/Zimbabwe_prints_Z100bn_note/articleshow/3254421.cms

 

[it_waaznt_me]

I am really appalled at the measures they are taking for curbing inflation. They are printing notes ..!! From whatever little economics I know, the currency rate is a function of balance of payment of a country and if you keep putting a lot of liquidity in the system (what Zimbabwe is doing right now) the price will rise. Now this will have cascading effect : your currency value will deteriorate and your imports will become dearer while your exports will become cheaper and the same cycle will continue. Your trade partners will start charging you more because your risk profile has gone up .. Phew ..

Im looking on Ebay to find a billion ZWD note to keep just for record that I am a multi billionare in ZWD ..

 

[goobimama]

I am really appalled at the measures they are taking for curbing inflation. They are printing notes ..!! From whatever little economics I know, the currency rate is a function of balance of payment of a country and if you keep putting a lot of liquidity in the system (what Zimbabwe is doing right now) the price will rise. Now this will have cascading effect : your currency value will deteriorate and your imports will become dearer while your exports will become cheaper and the same cycle will continue. Your trade partners will start charging you more because your risk profile has gone up .. Phew ..

Im looking on Ebay to find a billion ZWD note to keep just for record that I am a multi billionare in ZWD ..

Okay I didn't understand a word of what you just said

Although I'm in for buying a 100bn note. If you find someone, do consider me as well.

 

[Faun]

Interesting ...

more abt this hyperinflation in wiki
talking abt burning money....!!!


*img329.imageshack.us/img329/5338/hyperinflationwf7.jpg
*img329.imageshack.us/img329/5338/hyperinflationwf7.550ed396d7.jpg

Viva la revolucion !

 

[Gigacore]

Thats nuking futs!

 

[d1g1t]

*img519.imageshack.us/img519/9400/19sld1jv8.jpg

 

[MetalheadGautham]

I am really appalled at the measures they are taking for curbing inflation. They are printing notes ..!! From whatever little economics I know, the currency rate is a function of balance of payment of a country and if you keep putting a lot of liquidity in the system (what Zimbabwe is doing right now) the price will rise. Now this will have cascading effect : your currency value will deteriorate and your imports will become dearer while your exports will become cheaper and the same cycle will continue. Your trade partners will start charging you more because your risk profile has gone up .. Phew ..

+1.
You put things in the simplest possible language yet you gave a perfect analysis of the situation in Zimbabwe.

Im looking on Ebay to find a billion ZWD note to keep just for record that I am a multi billionare in ZWD ..

Count Me In Too

How much does it translate to in Rupees and/or Dollars ?

 

[it_waaznt_me]

Well ... I tried and found that they are issuing only bearer cheques .. (they have a validity period) .. And ZWD doesnt appear that cheap on eBay ..


Too bad SBI doesnt have any office in Zimbabwe or I'd have tried something from there ..