I blogged last year about Zimbabwe and their issues.
Back then, ZW$10 million notes sounded like a lot:
but they are not.
Today this note is worth just nothing in the local economy which is why, last June, the National Bank of Zimbabwe released the ZW$100 billion note:
but ZW$100 billion is only enough to buy a couple of loaves of bread, according to the National Post.
Back then, we all thought this massive denomination banknote would deal with the country's roaring hyperinflation, which reached around 2,200,000% officially, although economists reckoned it was up at around 12.5 million percent!
This is why, today, the Zimbabwe Government issued the $100 trillion note:
Worth about US$300 at today's exchange rates, the trillion dollar note is a waste of time as it will just by replaced by a gazillion dollar note next year.
It's not a waste of time for the Zimbabwean people however, who are suffering massively and only survive thanks to access to the US dollar.
I guess there is no statement to make here, other than that some of us wish the United Nations would intervene and sort the situation out.