Wednesday, February 4, 2009
One Is a Trillion
Yesterday, Celia W. Dugger reported that Zimbabwe has officially "chopped 12 zeros off the Zimbabwe dollar" in his article, Zimbabwe: One Is a Trillion. As he states, the Zimbabwean dollar is "grow[ing] more worthless by the hour" with an inflation rate of 231 million percent. (While this is the value given by the country's government, independent economists say it is in fact "many times higher.") The government seems to be simply treading water, as only six months ago they were forced to drop another 10 zeros from the dollar. How many more dropping of zeroes will it take before a real solution is found?
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