What is Digg?255 Comments
- squirrelza, on 07/19/2008, -1/+273Zimbabwe - Home of the most billionaires
- henrikakselsen, on 07/19/2008, -22/+242Don't worry Zimbabwe, the US dollar will catch up any minute now.
- cg4et, on 07/19/2008, -2/+211Does anybody have change for a trillion?
- leontes, on 07/20/2008, -6/+160Let this be a warning to all of us:
Diggs are just being granted willy nilly: we should make do with the diggs already in production. Soon 100 diggs soon will be the original equivalent of 4 diggs back when the site was first launched. I think we need to raise interest rates in order to control diggflation. So, those of you borrow diggs would have a low interest rate should spend the diggs into infrastructure rather than commodiities or the diggs are going to become essentially meaningless. Pay back your diggintrest rather than digging up silly comments like this. - ryan83189, on 07/20/2008, -2/+86So I guess the show "Who Wants to be a Millionaire" is not popular in Zimbabwe.
- xwfilm, on 07/20/2008, -9/+89I totally thought this was The Onion.
- Dumbledorito, on 07/20/2008, -1/+62And now the race is on: Which country will be the first to have notes that express their monetary units with exponents?
- chungmaster, on 07/20/2008, -1/+61/buried for being old. You can only buy 2 oranges now.
- jmreid, on 07/20/2008, -1/+55I think it's called "Who Wants 4 Oranges"
- nblsavage, on 07/20/2008, -0/+53I dugg you down in order to conserve diggs.
- zizzy, on 07/20/2008, -1/+48We already thought about it when squirrelza called Zimbabwe "Home of the most billionaires" in a comment three hours before yours.
- scott1, on 07/20/2008, -1/+48Billionaires that can't afford a loaf of bread
- HappyScrappy, on 07/20/2008, -0/+43I have a 100 ZIM dollar bill I got in 1997. It was worth about 3 US dollars at the time.
There was a 1,000:1 revaluation in 2006. So this 100 billion dollar note is really like a 100 trillion dollar bill when compared to the same units as my 100 ZIM dollar bill.
So my bill (which is technically not valid anymore) is worth one 10,000,000,000th of a (US) cent. I have it in a ziploc bag that is worth 0.4 cents, or about 25 billion times more than the bill itself. - Dumbledorito, on 07/20/2008, -1/+40An onion? I'll need at least three notes for one of those.
- inactive, on 07/20/2008, -13/+49And it's happened because of racism.
- Mononuclear, on 07/20/2008, -1/+30"The name Zimbabwe derives from "Dzimba dza mabwe" meaning "great houses of stone" in the Shona language"
- charlie763, on 07/20/2008, -0/+28You know your economy is in trouble when prices need to be expressed in scientific notation.
- inactive, on 07/20/2008, -2/+30It's generally not a great idea to kill all the white people in your country, who happen to be the only people who are skilled at leading, and to replace them with a person that thinks food comes from U.N. bags.
- dabura, on 07/20/2008, -0/+26That would be 2 chickens or half a duck..
- Eyebee, on 07/20/2008, -0/+26It's about time that the worthless scumbag that has raped the country since 1980, died.
- Braxo, on 07/20/2008, -5/+29Would you like that in singles and fives?
- ElBoss, on 07/20/2008, -2/+25As long as African nations allow dangerously insane ego-maniacal politicians to take power then they can expect that their country's economy will be used as nothing more than a presidential bank account and all of the hyperinflation that goes with it.
- Ramenhood, on 07/20/2008, -1/+24Who else would pay at least $5 for a bill just for the novelty?
- SuperRat, on 07/20/2008, -3/+25It's a long story but basically, yeah it happened because of racism.
- ngresonance, on 07/20/2008, -1/+23It's happened in large part due to racism against white farmers by Mugabe and ZANU-PF.
- Dested, on 07/20/2008, -0/+21This just in: Sudden influx of American money into Zimbabwe stimulates economy.
- Reziarfg, on 07/20/2008, -1/+21I dugg you up for "diggflation"
- alexra, on 07/20/2008, -1/+20you have just won 100 billion.......zimbabwe dollars, congratulations.
- CobaltBlue, on 07/20/2008, -1/+20Actually, an apple digg is still worth as much as an original digg, considering how few it takes to get apple stories to the front page.
- Hangly, on 07/19/2008, -7/+26Ahh, it makes sense now. Bernanke is from Zimbabwe!
- byrdgang, on 07/20/2008, -1/+20Why would a government issue larger banknotes in light of extreme inflation? If anything, you'd think they would try to get things under control. How this keeps things in control is beyond me.
But then again, I am not an economist, and this could explain why I don't understand what's going on. - Goldbricker, on 07/20/2008, -0/+18At that point why even bother with currency? Just carry around a pocketful of shells or something.
- inactive, on 07/20/2008, -3/+21MUGABE!
- Mononuclear, on 07/20/2008, -0/+17people make millions of $US by buying up currencies when they are cheap and selling them for profit. 5 years ago $1 US was 4 Brazilian Reais. Now $1 US is 1.5 Brazilian Reais. So if you bought a load of Brazilian Reais 5 years ago and then sold them now you would make a lot of money. Other currencies have had even more drastic changes.
Just as people invest in stock markets many people invest in foreign currencies. - blankis, on 07/19/2008, -2/+19Get one now, and wait for the storm to pass.
Oh wait, that's not happening. - jkleinfeld, on 07/20/2008, -3/+19I lost you at "Let"
- braeden0613, on 07/20/2008, -0/+16Let's hope no one decides to pirate music over there...the fines would cause the calculator to explode
- acceleration, on 07/20/2008, -0/+16Zimbabwe - Home of the most expensive loaf of bread?
- digglet08, on 07/20/2008, -0/+14"chicken/wife"
- chrisbarr, on 07/20/2008, -2/+16LOUD NOISES!!
- grumpyrain, on 07/20/2008, -0/+13Zimbabwe is not a democracy except by name. Mugabe lost the "election" but refused for weeks to release the results. The MDC pulled out of the presidential run-off despite winning the original round, but then again I don't blame them. Mugabe had already all but promised civil war if he lost.
Mugabe prints more money to pay his cronies, his security service, his police and his army. The currency subsequently devalues because (a) the amount of currency in proportion to the GDP is increasing and (b) everyone knows that Mugabe will just print more money in the future making it even worse.
Even without sanctions, there would be almost no foreign investment (certainly none paid for in Zimbabwean dollars). With no motivation to earn soon-to-be-worthless money, there are massive workplace participation problems, and hence food shortages. - aptanalogy, on 07/20/2008, -0/+13That's 31,250,000 tons. Get ready for the most epic money exchange of all time!
- grumpyrain, on 07/20/2008, -1/+14Nonsense.
This article was written yesterday.
Inflation rate estimation = 2.2 million% / year = 6,000% / day (or 60x per day)
So today that note would buy perhaps 1/20 of a single orange. - Syntheticbadger, on 07/20/2008, -2/+15dugg because the title puts the value of zimbabwe currency in terms of barter.
$100 trillion for a chicken/wife... - inactive, on 07/20/2008, -13/+26Yeah, because black people sure know how to manage their money. Chompa donka chompa che!
- airwalkery2k, on 07/20/2008, -3/+15If anybody has a website where I can buy some of these for the street value exchange rate, I'd buy a few. They seem like great novelty items. Maybe that's what they are aiming for.
- timpkmn89, on 07/20/2008, -2/+14I want to get one just to say I'm a hundred billionaire. Now where did I put those oranges...
- petraska, on 07/20/2008, -0/+12Well, until December 31st, when all your billions expire.
- Myonosken, on 07/20/2008, -0/+12***** I want 4 oranges now.
- Reziarfg, on 07/20/2008, -3/+14@Mononuclear
Dugg up for not being ignorant. -
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