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April 4, 2009

1

When a trillion really is worthless (or will be, sooner than you think)

by quaesitor

1 trillion is a big number. And it’s making big news in G20 circles. Of course, we’re all very pleased and happy as it’s going to save the world, thanks to Messrs Brown and Obama. Hurrah for them. Trillions really are the new billions, it seems.

But spare a thought for ordinary Zimbabweans. Where a trillion really isn’t what it once was. Nor for that matter, is 100 trillion Zim dollars…

The exchange rate currently (but probably meaninglessly) stands at £1 = Z$55 million. So this not is in itself worth £1.8 million. But they’ve presumably printed them because they expect it to be enough to buy a loaf of bread next month.

Check out these ingenious adverts for The Zimbabwean newspaper (strapline: a voice for the voiceless) – they’re printed on actual Zim dollars – to show how worthless they have become. It’s cheaper to do that than buy printing paper. See other examples at their Flickr page. It is a courageous, but necessary stand – the injustices of the situation reinforced by the fact that Mugabe recently celebrated with another lavish birthday party.

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