Thursday, June 26, 2008 @ 10:57 PM
Zimbabwe has a shortage of food, abundance of zeros.
Zimbabwe is believed to be the only country in the world that now carries out routine financial transactions in dizzying set of quadrillions _ one quadrillion is a 1 with 15 zeros behind it, or 1,000,000,000,000,000.
Bread has disappeared from stores. Previously, a loaf in a supermarket cost 2 billion Zimbabwe dollars (20 U.S. cents at the official exchange rate), or 15 billion Zimbabwe dollars ($1.50 U.S.) on the black market, where prices of scarce items can vary up to 10 times higher.
Zimbabwe is believed to be the only country in the world that now carries out routine financial transactions in dizzying set of quadrillions _ one quadrillion is a 1 with 15 zeros behind it, or 1,000,000,000,000,000.
Bread has disappeared from stores. Previously, a loaf in a supermarket cost 2 billion Zimbabwe dollars (20 U.S. cents at the official exchange rate), or 15 billion Zimbabwe dollars ($1.50 U.S.) on the black market, where prices of scarce items can vary up to 10 times higher.
A shopper lucky enough to find milk will spend 3 billion dollars (30 U.S. cents) for about 1 pint. A tray of 30 eggs, also scarce, can bought in a store for 45 billion dollars ($4.50 U.S.).
Butter is hard to find, but 17 1/2 ounces of margarine will cost 25 billion dollars ($2.50 U.S.) and a pack of 10 cookies costs 19 billion dollars ($1.90 U.S.).
Most stores and business across Zimbabwe have already knocked six zeros off price tags, showing 45,000 dollars for two pounds of scarce low grade beef _ but at the cash register, it's tallied back at 45 billion dollars ($4.50 U.S.).
Moyo said a car battery was priced Monday at 2.4 trillion dollars ($240 U.S.), a tenfold increase in the past two weeks.
The largest Zimbabwean bill in circulation is a 50 billion note ($5 U.S.), while the smallest currency unit a one cent coin, which buys nothing by itself.
read the full article at: http://sg.news.yahoo.com/ap/20080626/twl-zimbabwe-economy-1be00ca.html
this reminds me of one situation which is super duper similiar- Germany's hyperinflation during world war 1. and even worse. 2 billion dollar bread?!? it was worse than Germany's situation. thi is what needs the world's attention, yet little is given. what on earth is the world coming to? everyone seems so embroiled in their own conflicts and clashes that no one bothers about this dangerously worrying situation.
perhaps its time for a much needed wake-up call that the Zimbabweans need our help. and they need it now. no one deserves to live in a situation like THAT.
read the full article at: http://sg.news.yahoo.com/ap/20080626/twl-zimbabwe-economy-1be00ca.html
this reminds me of one situation which is super duper similiar- Germany's hyperinflation during world war 1. and even worse. 2 billion dollar bread?!? it was worse than Germany's situation. thi is what needs the world's attention, yet little is given. what on earth is the world coming to? everyone seems so embroiled in their own conflicts and clashes that no one bothers about this dangerously worrying situation.
perhaps its time for a much needed wake-up call that the Zimbabweans need our help. and they need it now. no one deserves to live in a situation like THAT.
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