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Official inflation soared to 2.2 million percent in Zimbabwe

I guess we have it good with our low inflation rate. Zimbabwe just started printing 100 BILLION Zimbabwe dollar notes. And they expire Dec 31st. What does that mean?

http://www.cnn.com/2008/WORLD/africa/07/19/zimbabwe.banknote...

A 4-pound (2-kilogram) bag of sugar cost about 20 billion Zimbabwe dollars ($1) at the government's fixed price, and 90 billion on the black market ($1 at the black market exchange or $4.50 at the bank exchange rate.)

http://www.cnn.com/2008/WORLD/africa/07/17/zimbabwe.inflatio...




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German Hyperinflation

A sound short Article:

http://www.pbs.org/wgbh/commandingheights/shared/minitext/es...

"My father was a lawyer," says Walter Levy, an internationally known German-born oil consultant in New York, "and he had taken out an insurance policy in 1903, and every month he had made the payments faithfully. It was a 20-year policy, and when it came due, he cashed it in and bought a single loaf of bread."

Dr. Paul cured my apathy

Ron Paul was right

Yahoo also published this article, that I posted here late

last night, and it also mentioned that independent economists put their actual price inflation rate somewhere closer to the 10 to 15 million percent range, rather than "only" 2.2 million percent. Well, once you go above 1 million percent price inflation, I submit that the difference in the pain level is probably of little consequence. :)

One is left to wonder how long it will be before $1 Trillion notes will become part of that government's "solution" to the problem. The end of the week perhaps? One poster mentioned that their paper supplier had refused to deliver paper.......no doubt, not wanting to be stuck with worth-less paper money in payment for more paper. How long will it be until, as in Germany of the 20s, it will actually be cheaper to burn the paper notes in one's stove, rather than using them to buy wood.

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"An economy built on fiat money is a society on its way to ashes."

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"An economy built on fiat money is a society on its way to ashes."

Dont Worry

Ours will only hit 1,300,000%