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Hyperinflation In Action: Beer For Bag Of Cash - Video

Hyperinflation In Action: Beer For Bag Of Cash

In May 2011, Belarus surprised its citizens by devaluing its currency by 50% overnight in an attempt to kickstart its economy, leading to swift and brutal hyperinflation. And while written narratives of the most recent episode of monetary collapse are one thing, nothing is quite as amusing, and grounding for those attempting to "value" money (such as Nobel prize winning economists writing out of their steel exoskeletal ivory towers), as watching a bag of cash be used to pay for seven boxes of beer. And nothing is quite a cathartic as spending several hours trying to count said cash - cash backed by the "full faith and credit" of the Belarus central bank...

At today's rates, seven cases of beer costing $30/case it would be
1820693.43 Belarusian Ruble (BYR).

http://www.zerohedge.com/news/2013-01-12/hyperinflation-acti...

http://www.youtube.com/watch?feature=player_embedded&v=RgAcH...

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Well it seems it's a prank

some people in the zerohedge comments are saying those guys pranked the cashier girl with the lowest denominated bills, much like if you went and bought a car with $1 bills..

It makes sense looking how everyone is reacting.

However, they weren't buying

However, they weren't buying a car. They bought only seven boxes of beer, I believe.

At today's rates, seven cases

At today's rates, seven cases of beer costing $30/case it would be
1820693.43 Belarusian Ruble (BYR).