Zimbabwe's hyperinflation has become so extreme that the treasury there is set to print 100 trillion, 50 trillion, 20 trillion and 10 trillion notes. 100 trillion Zimbabwean dollars are worth about US$300. Wait. Now it's US$290. Quick, spend it, while there's still time.
Even vegetable vendors prefer the U.S. dollar, South African rand or Botswanan pula, and most workers now demand their salaries in foreign currency. Doctors and nurses have been on strike since last September, demanding salaries in U.S. dollars. The strike coincided with a cholera epidemic that now has claimed more than 2,000 lives.
Last week, the state media reported that most teachers had left their jobs. As a result, the end-of-year examinations taken in November are yet to be graded after the markers demanded their wages in foreign currency. Schools are yet to re-open this year awaiting the examination results
Zimbabwe to print first $100 trillion note
My life-long work of performance art is to somehow maintain my original passport: notwithstanding the life and opportunities of a techno-nomad.
Trump's trade war has reduced the world's net worth by $2 trillion ($1.5 trillion of which came off the balance sheets of the 1%), with losses most deeply felt in China and Europe; North and South Americans took smaller losses, while the Middle East actually made gains: the richest Saudis have grown 7% richer during […]
Every day, the world's poorest countries lose $3b in tax revenues as multinationals sluice their profits through their national boundaries in order to avoid taxes in rich countries, and then sluice the money out again, purged of tax obligations thanks to their exploitation of tax loopholes in poor nations.
Is it just us, or does it feel like winter hasn’t been as horrendous as usual this year? Well, stats show it’s actually been one of the warmer winters on record so far this year for many eastern U.S. cities in January and February. But, almost on cue, weather experts warn signs of a serious […]
While mobile devices are all but essential and the center of so many individual universes these days, find one person who loves their wireless plan with that type of passion. Check around. We’ll wait… Didn’t find anybody, did you? That’s because most wireless plans are designed for the convenience of the provider and will nickel-and-dime […]
In the early days of the web, everyone wanted a .com domain for their site. As a result, all the good ones got snapped up. But .com no longer has the cachet it once did. In fact, many new businesses and individuals are opting for other top-level domain extensions. One of the most memorable is […]