On Tue, 10 Jul 2007, Ed Weick <[EMAIL PROTECTED]> wrote: > Just a little more MV=PT from this ancient troglodyte. I understand > from the on-line Daily Reckoning that the global current worst case of > inflation is Zimbabwe, where the inflation rate is said to be about > 5,000% per year. About ten years ago, the Zimbabwe $ and the US$ > stood at parity. What's happened since then is that the Mugabe > government has printed tons and more tons of money. Now it takes 50 > Zimbabwe pennies to make up one American penny!
How many Zw pennies to a Zw dollar? The _official_ exchange rate today is $250ZWD to the USD, according to XE.com. Knowing that doesn't jibe with numbers from a while back, I did some digging and found that the government revalued the currency last august, lopping off three zeroes, which makes more sense, because a Globe and Mail online article from April 2006 notes the official rate as 100,000 ZWD to the USD. So, a fair comparison to ten years ago would put the current conversion at 250,000 (old)ZWD to the USD. -Pete Prices are said to be > going up 10% per day, and because you can only draw so much money out > of the bank at a time, you have to stand in line for several days to > put enough money together to buy a tank of gas! Please oh please > don't lets hire Mugabe to run Canada! The Daily Reckoning notes that > there is a move afoot to get rid of the Canadian penny. Why? > Because the metal in the penny is now worth more than the exchange > value of the penny. _______________________________________________ Futurework mailing list Futurework@fes.uwaterloo.ca http://fes.uwaterloo.ca/mailman/listinfo/futurework
