A few more thoughts of inflation

furious-one (69)in #money • 6 years ago

Did you know, that in 2008, inflation in Zimbabwe reached, wait, let it sink in a bit - 79.6 billion percent! Ponder on that number a bit. Most of us are blessed with stable economies, how our central banks manage money, is lunatic, but they mostly do a good job. We don't have to suffer our money losing most of it's value in hours.

Wikipedia shows us their inflation graph:

z rate.JPG
_{wikipedia.org}

As you can see, after Nov 2008, it's only estimates, as the World Bank stopped tracking Zimbabwe's inflation rate!

"In 2009, teachers and civil servants were still being paid in Zimbabwean dollars. Even though their salaries were in the trillions per month, this amounted to around US$1, or half the daily bus fare."

At the moment, the country doesn't have a currency of it's own. In June 2016, nine currencies were legal tender in Zimbabwe but it was estimated 90% of transactions were in US dollars and 5% in Rand.

_{img credz: pixabay.com}

Alas, cryptocurrencies were supposed to save the people, but due to the governments foolish efforts against the people's currency, the Bitcoin ATM in Harare has now run dry

Only fighting the good fight and moving life-essential barter between people to cryptocurrencies can save the people of Zimbabwe, as the government does not have the foresight to save their country.

Now here's another tragic story - Venezuelans have nothing to do with their money than to showel it into pits:

_{twitter.com/alonsovalenciav/}

Share the word of cryptos and Steem, where we can barter without the interference of malicious and incompetent parties. I'm happy to pay taxes in my country, but people come first - in some cases you have to move out of the goverments hands.

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_{Title image from pixabay}

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