The pinnacle of inflation- the new $100 trillion note

Before you go, we thought you'd like these...
Before you go close icon

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?

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners