Spare me a quadrillion – only in a land of zeros
Source: http://www.investmentpostcards.comPosted on Wednesday, September 3rd, 2008 | In Market Commentary
1,000,000,000,000,000. That’s right, a quadrillion is a thousand trillion. These are the numbers Zimbabweans have to deal with when going about fairly modest everyday transactions. The sad truth is that hyperinflation is just one of the many items the country’s despotic ruler, Robert Mugabe, can list on his bio.
The check below, drawn on the MBCA bank in Zimbabwe, has just crossed my path. It is for Z$1.072 quadrillion which, as far as I can establish, equates to about US$27, but that is a rapidly moving target. The check is dated July 23, just prior to the Zim dollar having had 10 zeros cut off on August 1. But don’t hold your breath for an end to the erosion of the currency value, at least not while crazy Bob is calling the shots.
Source: Unknown
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 About Prieur du Plessis (http://www.investmentpostcards.com)
Prieur du Plessis has 25 years’ experience in professional investment research and portfolio management. More than 1,000 of his articles on investment-related topics have been published in various regular newspaper, journal and Internet columns. He has also published a book, Financial Basics: Investment. Prieur is chief executive and principal shareholder of South African-based Plexus Asset Management, which he founded in 1995. The group conducts investment management, investment consulting, private equity and real estate activities in South Africa and other African countries. Plexus is the South African partner of John Mauldin, author of the Thoughts from the Frontline e-letter, and also has an exclusive licensing agreement with California-based Research Affiliates for managing and distributing its enhanced Fundamental IndexTM methodology in the Pan-African area. Prieur is 52 years old and lives with his wife, television producer and presenter Isabel Verwey, and two children in Cape Town, South Africa. His recreational activities include long-distance running, motor cycling, traveling and reading. |
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