Zimbabwe introduces new $50 billion note

Re:Zimbabwe introduces new $50 billion note by vaksel on Saturday January 10, 2009 @03:04PM (#428260)

How can an economy survive with such an inflation? How can you work, knowing that the salary you agreed to at the beginning of the day, is now worth 10 times less

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Re:Zimbabwe introduces new $50 billion note by DougBTX on Saturday January 10, 2009 @03:13PM (#428275)

At 80% unemployment, I guess they don't.

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Re:Zimbabwe introduces new $50 billion note by ii on Saturday January 10, 2009 @03:18PM (#428286)

Salary is in foreign currency. As everything else.

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Re:Zimbabwe introduces new $50 billion note by quantumhobbit on Saturday January 10, 2009 @03:14PM (#428277)

I'd imagine a sort of barter system takes the place of the currency. You could also try to rely on foreign currencies.

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Re:Zimbabwe introduces new $50 billion note by jwilliams on Saturday January 10, 2009 @08:25PM (#428631)

They actively crack down on those using foreign currency, it's actually illegal to use foreign currency for transactions there - although of course everyone does and there is a massive black market for this.

Mugabe also tried to fix the price of common goods - e.g. Bread, Milk, etc.

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Re:Zimbabwe introduces new $50 billion note by jwilliams on Sunday January 11, 2009 @01:31AM (#428906)

Edit: Hmm - Apparently this has changed and they allow foreign currency trading now.

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Re:Zimbabwe introduces new $50 billion note by mattmcknight on Saturday January 10, 2009 @05:01PM (#428415)

Hello, gold. Mugabe can't inflate it unless he's a real alchemist. I wonder if the US could get into this sort of situation?

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Re:Zimbabwe introduces new $50 billion note by eru on Saturday January 10, 2009 @07:02PM (#428558)

Gold is somewhat impractical. Having access to a lot of foreign currencies (on the black market, if necessary) is a substitute.

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