The Reserve Bank of Zimbabwe announced its official intention that April 30, 2016, will be the final day for paying anything—anything at all—to people who turned in the now-decommissioned $100,000,000,000,000 bills, $10,000,000,000,000 bills, $1,000,000,000,000 bills, and old bills of lower denominations. That announcement: “Demonetisation of the Zimbabwean Dollar — The demonetisation of the Zimbabwe dollar which was […]
Tag: trillion
Investment hint from Ig Nobel Prize winner Gideon Gono
Exciting investment news from Zimbabwe: Every now-nearly-worthless 100-trillion Zimbabwe dollar bill might, just might, soon be worth more than 100 trillion US dollars. Eyewitness News reports: [President Robert ] Mugabe urged people who still have worthless Zimbabwe dollars not to tear them up, as they will be compensated. Central Bank chief Gideon Gono told Mugabe […]
Experimental economics: Trade an island for a debt
Paul V. Kane, described as “a former international security fellow at the Harvard Kennedy School”, published (in the New York Times) his idea to solve two nations’ economic problems in a single stroke. He suggests that the United States should sell Taiwan to China for one trillion dollars. (Thanks to investigator Jonas Nyman of the […]
100-trillion-dollar bills again fuel the economy
The Associated Press reports that Zimbabwe’s 100-trillion-dollar bills are again helping fuel the nation’s economy: Visitors snap up 100 trillion Zimbabwe bank notes HARARE, Zimbabwe – Western visitors to Zimbabwe are looking for zeros. They’re snapping up old, defunct Zimbabwe bank notes, most notably the one hundred trillion Zimbabwe dollar bill, as an economic souvenir. […]