The pinnacle of inflation- the new $100 trillion note
Filed under: Banks
Remember the tales of distraught Germans after WW I hauling wheelbarrows full of inflation-devalued Papiermarks to the bakers to pay for a loaf of bread? Since that time, governments have taken a much more conservative approach to printing money, to avoid such rampant inflation. A notable exception, tragically, is the government of Zimbabwe thug-in-charge Robert Mugabe. The result of his misrule is hyperinflation and the need to print a new $100 trillion note ($100,000,000,000,000) -- worth about $33 US.
Note- no picture is yet available for the $100 trillion note, but here's what the $100 billion one looks like.
According the UK Telegraph, prices are doubling daily as scarce resources and currency backed by nothing conspire to bring even more misery to a country already dealing with a cholera epidemic. Neighboring South Africa is awash in a massive influx of refugees.
The country's mint is also preparing to print $10 trillion, $20 trillion and $50 trillion notes, probably to address a shortage of toilet paper. This is what happens when a government expands its money supply far faster than its GDP.
Fortunately, we'd never take such a foolish approach in the U.S.
Right?
Reader Comments (Page 1 of 1)
1-18-2009 @ 2:00AM
v.j.demarco said...
The USA is well on it's way to this form of financial nightmare.Within 6 months the bailout total will exceed 1.8 Trillion dollars planting the seeds for an inflation never seen in our country. As we sit here,every major industry,every State,most cities are in line for bailouts.There is no return on investment for bailouts,it is printing press money and eventually people will want more of it in return for anything,goods or services,then "away we go into hyperinflation". When our elected leaders say that bailouts will solve the problem of unemployment,remember,their greatest talent is to lie!
Reply
1-20-2009 @ 2:06PM
cannotbelievethis said...
Every economy dips and rises. Keynesian Economics favors deficit spending to "keep the economy on an even keel". This type of spending was instituted with FDR, not Obama. It wasn't until 30 years later, someone actually READ this clap-trap, and realized 44 pages of explanation and equations was missing. When the text was located, it was run through a computer and discovered KEYNES was WRONG! But we were too up to our eyeballs even then to just turn off the Mint and let the chips fall where they might. It wa also FDR that did away with the gold standard... this has been a long time developing, it's nothing new, people are just getting their heads out of their rumps to take a look around and say; "What the Hell happened?!?!?!?!?"
Reply
1-20-2009 @ 2:18PM
lgr8golf said...
The picture is of a $100 BILLION dollar bill, not $100 trillion. So does that make it worth $3.33 US? So I can make my wife become the millionaire she always wanted to be for $0.33 and a plane ticket to Zimbabwe? Well shit, I'll help her mother out too!
Reply
1-20-2009 @ 2:52PM
DwightMann said...
Actually, if 100 trillion is worth $33, 100 billion would be worth $0.033 or about 3 1/3 cents
1-20-2009 @ 2:18PM
Acgwipeout said...
Does anyone notice that the image of the note says 100 billion not 100 trillion?
Reply
1-20-2009 @ 2:37PM
jim said...
TAKE NOTICE USA,, that will be repeated HERE thanks to the SOCIALISTIC OBAMAPRESSION!! Hope all you IDIOTS who voted for barry are happy,,it's coming!!
Reply
1-20-2009 @ 2:43PM
Angiebaby said...
When ransom is delivered to the dumbass pirates, they should be given one or two of these. Wouldn't they feel successful?Heehee.
Reply
1-20-2009 @ 2:45PM
Eddie said...
A typical AOL news screw-up. This bill is worth 99,900,000,000 less dollars than a 100 trillion dollar bill. Very well reported AOL, I applaud you.
Reply
1-20-2009 @ 2:55PM
MyKisa said...
coming soon to a town near you
Reply
1-20-2009 @ 3:01PM
Earl Bailey said...
What difference does it make? When we get Socialism, the government will pay for everything! We will all work for government owned manufacturing plants and be paid with scrip that can only be redeemed in a government owned store. We will go to government paid doctors and government owned hospitals when we get sick. There will be no classes of rich, poor & middle. We will all be equals "finally"
Reply
1-20-2009 @ 4:04PM
Ann said...
Ye of little faith. Keep being negative. I believe that if we keep our faith we will over come this depression too. I was laid off and have seen no income for several months. I still have my home and thank God I am not starving. Therefore, I don't feel that I have anything to complain about. Give the new president a chance, can't be any worse than the last eight years. Personally, I voted for Hillary.
Reply