Zimbabwebound

It only felt like a couple of months ago that I told you about the new $10 million note … hang on it was only a couple of months ago.  I have to tell you what has been introduced since the last monetary update.  It was only about a month ago that we had two newer notes introduced; they were the $25 million note and the $50 million note and then just last week a $250 million note and a $500 million note were put into circulation.  My sources within the banking networks also advise that there will soon be a $50 billion note put into circulation for the agricultural sector … please don’t ask me to explain how this will work as I get a headache trying to explain it to myself.  With the reserve bank now “floating” the official rate (please also don’t ask me about this either as I don’t think that I would have enough time or allocated storage space on the server to write a valid and easy to understand explanation) it means that the above notes (except for the $50 billion) are only work a few US dollars … this I can explain.  The official bank rate at the moment is about $300,000,000 (300 million) to the one USD; so that means that new $500 million note is only worth about $1.60 USD; the $250 million note is about $0.84; the $50 million note is about $0.16 and the $25 million note is only worth about 8 US cents.