What is Hyperinflation? Take a look at Zimbabwe
Posted on Wednesday, February 4th, 2009 | In Gold MarketsAlex’s Notes: Think it “cant happen here”?
You sure about that?
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Zimbabwe removes 12 zeros from currency
CNN.com/World
February 2, 2009
HARARE, Zimbabwe (CNN) — Zimbabwe slashed 12 zeros from its currency as hyperinflation continued to erode its value, the country’s central bank announced Monday.
“Even in the face of current economic and political challenges confronting the economy, the Zimbabwe dollar ought to and must remain the nation’s currency, so as to safeguard our national identity and sovereignty. … Our national currency is a fundamental economic pillar of our sovereignty,” said Gideon Gono, governor of the Reserve Bank of Zimbabwe.
“Accordingly, therefore, this monetary policy statement unveils yet another necessary program of revaluing our local currency, through the removal of 12 zeros with immediate effect.”
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 About Alex Stanczyk (http://rapidtrends.com/blog)
Alex Stanczyk is the editor of Your Financial Future. Mr. Stanczyk has launched numerous businesses, acted as the CEO of a Publicly Traded US Company, and brings over 21 years of business experience to YFF. He has authored numerous articles, mentored hundreds in personal finance and wealth building, and spends at least 4 hours each day studying the global markets, drawing insight and conclusions from the flows of global commerce. As an Affiliate of Anglo Far East Bullion Company, Mr. Stanczyk specializes in teaching foundational principles of money, the gold market, and why gold has been a storehouse for wealth for thousands of years. |
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