Re:MasterCard to open up network to cryptocurrencies
by nexthash on Thursday February 11, 2021 @05:28PM
(#26108256)
Yeah, it's crazy sad. Apparently the same thing is starting to happen now in Zimbabwe again with a 737.9% annual increase. At this point they are screwing over their people and any reasonable citizen shouldn't rely on or trust the currency at all.
https://www.bloomberg.com/news/articles/2020-07-14/zimbabwe-...
Here's the worst I've ever heard of:
https://en.wikipedia.org/wiki/Hyperinflation_in_Zimbabwe
Yes, you read that right:
"However, Zimbabwe's peak month of inflation is estimated at 79.6 billion percent month-on-month, 89.7 sextillion percent year-on-year in mid-November 2008."
I recall interviews with government employees, who were quitting in droves. The Government wasn't keeping up with inflation, so at the end of 2 weeks, your check was basically worthless.
The place was falling apart.
People would run to the bank, cash pay checks, and buy STUFF. Anything. Anything physical. TVs, couches, bikes, blenders, ANYTHING. In one interview, a woman's living room was filled with random pieces of furniture, stacked to the ceiling, and a TV.
To trade. For barter.
Because even an hour later, that paycheck was worth so much less.
Madness.