Zimbabwe bank to issue $10m bill http://newsvote.bbc.co.uk/2/hi/africa/7195569.stm Sad but true, the inflation rate in Zimbabwe is 50,000%, and Z$10,000,000 is worth less than US$4.
Only time before they need to issue Billion Dollar bills. Oh wait, someone beat them to it: http://www.thesmokinggun.com/archive/0315062billion1.html
absolutely crazy. i wouldnt be surprised if that $1 bilion note was attempted to be used at a local McDonalds for a double cheesburger on their 99cent menu For the Zimbabwe note... i want some
You would think the second clue about the authenticity of those notes would be the blue seal. (the first being too obvious to even have to mention it)
The Federal Reserve Bank of New York has a website that discusses these type of scams. These notes are part of the article about 1930 Bonds and Notes. http://www.newyorkfed.org/banking/frscams.html
I doubt they could even conceptualize a billion dollars back in the 30's, let alone make a bill... I doubt there was that much money in the entire country.
If the Zimbabwe Governmet put the $10,000,000 bills on E-Bay for $9.99 each (+4.99 S/H) they could probably earn enough US Currency to help their economy. Just an idea.
it the conversion to US is only around $4, i for one would not pay $10 plus $4 for shipping for it. I want one, but not for $10 over face!
It was a joke- should've used a smiley. If they put them on ebay somebody will buy them. But on a more serious note- i'd like to have one too if the price is reasonable- anybody have friends in Zimbabwe? Andy
I'm surprised the Federal Reserve hasn't printed any yet. The politicians in our government seem to love to print more notes backed by nothing and thus further dilute our money supply. Come to think of it, maybe the next President will just have them print several one trillion dollar notes and then we will be able to pay off the entire national debt and fund a bunch of new pork barrel spending projects.
You've got some good ideas! Care to be our next President?:smile The field isn't looking too promising right now. Just think of all the cool currency that could be issued with a numismatist in the White House.
I'm not interested in the job but there is one guy running that for the republican ticket that cares deeply about our money supply and the damage the Fed has done to it. However, I can't post his name here because it would earn me another Cointalk demerit. But if you follow politics even a little bit then you probably know of whom I refer.
mentioning a name would earn a demerit? anyway - is it the same guy who NORFED printing a ton of paper notes for?
It is against Cointalk policy to name a political figure. Yeah, and does anyone really trust those Norfed notes now that their silver rerserves have been seized by the government. Paper money: you gotta love it!
I realize that it was said in jest but having the Fed print trillion dollar notes and using them to pay off the debt would not solve the problem. The US government borrows money from the Fed. All this would do is change the creditor. The Treasury would have to print Legal Tender Notes and the government use them to pay off the debt.
If they did issue a billion dollar bill it would be the highest denomination ever on a piece of paper money... they could sell them as novelties, perhaps help out their economy a little lol... the eBay idea might actually be a feasible way to bring in some hard currency. Actually wouldn't be that different than several countries that produce NCLT to sell to collectors as a way of raising money. I wonder if there's a feasible way to get one of these 10 million dollar notes? Would love one for my currency collection. Actually keep your eyes on eBay... they have lots of modern notes from Zimbabwe currently and I'm sure this one will show up soon.
