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Between 2007 and 2009, Zimbabwe experienced a terrible vicious inflation.
While it sounds like a new original movie from the SyFy channel, hyperinflation is a serious business ---
People, like roadside killings, have swept away worthless money from the street.
We interviewed some people who witnessed the rise and fall of the Zimbabwe dollar. They told us . . .
Prices can change many times in just a few hours. Vicious inflation begins with the government printing more money to pay off heavy government bonds, wars with Congo and bad crops.
President Robert Mugabe of Zimbabwe announced
The land owned will be returned to the black majority.
The problem is that Mugabe wants white people to have no transitional time to teach new farmers how to do it. . . farm.
As a result, more and more farms have closed down, prices have risen, and the Zimbabwean dollar has expanded rapidly.
When inflation began to rise in the medium term
2000, no one seems to really care about it all.
Currencies, especially those in Africa, have been fluctuating.
But Zimbabwe's dollar fell sharply after years of poor crops.
The government's solution is to print more money. -
Anyway, it's just paper, right? No big deal.
2008, the price of simple goods is changing every day-
Sometimes even more often.
When inflation began to hit its worst, border driver Pieter was in Zimbabwe. says Piet.
It happens every day these days.
That bottle of Coke will cost trillions of dollars by October. With a T.
Piet remembers that it really disturbs people's daily lives.
Then Zimbabwe solved the currency problem once and for all.
Zimbabwe has no official currency.
The Zimbabwean dollar is.
Zimbabwe's dollar was re-used for ridiculous things, and until it was devalued as a currency, Zimbabwe's dollar had little value.
A bundle of trillions
Dollar notes can only be bought.
Then there is toilet paper: the water pipe can't handle all the money people flush the toilet.
They put up slogans to stop people from blocking pipes with trillions of dollars.
Do you remember how the previous "trillion" was spelled? It's with a T.
The ads on regular paper get too expensive, so the bill is glued together to make a big canvas and then the message is received.
Most of the time, it is advertising, but it can also be used to make a statement: 3 The Society becomes Barter
There are no paper money now in the Devin state, no hard currency like gold or silver, no laws prohibiting foreign currency, and no population that still needs to be purchased.
Welcome to battertown.
Zach visited Zimbabwe during this episode of hyperinflation: as Zach continued, even the damn health care was bargained ().
In the end, when a currency is restored, people still keep the barter system running. . .
Because they trusted the paper for the last time, they finally wiped their ass with their life savings.
The black market becomes the most legitimate market, because all markets and businesses are now operating through bargaining, and the old rules no longer apply.
For example, take a person who has been snapping up and storing shirts and he only changes them to what he needs.
The shirts are very rare and he can charge them whatever he wants and he makes the most of his monopoly on nipple coverings.
There must be competition in order to keep prices stable.
Fortunately, there is a friendly black market in the community. recalls Piet.
The black market guy sold what traders were asking about a quarter.
This forced the store to lower the price to compete at a price slightly lower than "a regular car.
You suddenly got the freedom you never dreamed of, and the Zimbabwean government didn't want to give up money and use "anything you get in you" as the official national currency.
So President Mugabe has to give up his pride, which has banned foreign exchange. says Piet.
When these laws about foreign currency are suddenly canceled, people realize that the government can actually do their job if you really push them to the government.
Promote the people.
On 2014, the Supreme Court of Zimbabwe lifted the publication ban. " (
In the past, the government defined "false statements" as "anything they don't like ". ")
Even Mugabe was forced to share power.
In 2009, Zimbabwe elected its first prime minister since 1987.
All of this stems from laws enacted to combat hyperinflation.
Sadly, after economic stability, this position was canceled, similar to the way Germany consolidated and concentrated its leadership in the 1930 s.
You know what they say: "Money, question.
In any case, Zimbabwe is now on a long road to recovery.
Its people are just the latest to know the terrible truth: hyperinflation is bad for everyone. . .
Except for the guy who monopolized the shirt.
He's not that bad. .