Zimbabwe Demonetizes: Offers US$5 Per 175 Quadrillion Zimbabwe Dollars

[singular_me]

can hardly wrap my mind around the 500 billion percent figure... is this how far the west can/will go?

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Zimbabwe Demonetizes: Offers US$5 Per 175 Quadrillion Zimbabwe Dollars
Friday 12th June 2015

http://www.davidicke.com/wordpress/wp-content/uploads/2015/06/20150611_zim.jpg


‘It’s over! Starting June 15th and ending September 30th, the Zimbabwe Central bank will begin its process of “demonetization” of the old Zimbabwe Dollar. The Zimbabwe dollar will be removed as legal tender after the currency’s use was abandoned in 2009 following a surge in inflation to 500 billion percent.

For bank accounts containing up to 175 quadrillion Zimbabwe dollars they will be paid $5, the country’s central bank said. The people remain angry slamming this as “abusing one’s rights in the banking system,” and claiming this is being done to enrich a chosen few.’...........

http://www.zerohedge.com/news/2015-06-11/zimbabwe-demonetizes-offers-us5-175-quadrillion-zim-dollars

[madfranks]

Some people are expecting the central bank to compensate for the ills of inflation. That is not the role of government and no one in the world has been compensated for the ills of inflation.

What a hoot - they create mass inflation then say it's not their problem to compensate people for their losses.