Commentary Somewhere in Africa - McClatchy Newspapers

Latest sign of the hyperinflationary apocalypse

Posted by Shashank

Fri Jul 25, 3:05 AM ET

So it has come to this: The new Zimbabwean 100-billion-dollar note - released Monday and worth less than 50 U.S. cents, is selling for upwards of $74 on eBay. (Thanks to my buddy Neel in L.A. for the tip.)

This particular seller -- maybe an enterprising Zimbabwean expat, or someone with connections to the Reserve Bank -- is offering to ship the "uncirculated" note from the UK in a plastic sleeve and "quality envelope" that's probably worth more than the bill itself. There are already 11 bids.

The bidding ends in a few hours. But don't overspend, folks. This note can't even buy a loaf of bread in Zimbabwe, and with the news yesterday that an Austro-Hungarian firm will take over printing of Zim's currency, the 250-, 500- and 750-billion notes can't be far behind.

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