Sunday, February 01, 2009

Zimbabwe pulls ahead...

...in the race for highest inflation ever (or at least the highest denomination banknote):
Zimbabwe has the world's highest official inflation, with its currency now printed in the trillions of dollars. This month, the central bank introduced a new 100 trillion Zimbabwe dollar note.
Surprise, surprise:
State control of foreign currency has allowed a ruling clique to enrich themselves by buying U.S. dollars at lower government rates and selling them at the much higher black market rate.
Just two months after printing their first Z$200,000,000 note. Apparently the Z$100,000,000,000,000 is the new world record.

I want one.

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