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$100 Trillion Note valued at 40 US Cents

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There should be no doubt about the country! It is Zimbabwe!

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Source:The Int'l Spectator
 
No one would ever like to keep currency like that! another innovative way to wards cash less economy!!
 
Hyper inflation in Zimbabwe!

Read the analysis:

The big reason was that Zimbabwe's government had debt. There are two ways for a government with its own currency and a floating exchange rate can acquire the money it needs to pay off debt.

1) It can tax its citizens.
2) It can print more money.

Now, nobody likes the idea of higher taxes - people might argue that they're necessary, but that doesn't mean they like the idea - so printing more money seems like the more politically savvy choice. For small debts over a short term period, it may very well be. The problem comes in when you have to print massive amounts of money over a long period of time which, in order to finance its debts without raising taxes, Zimbabwe had to do.

The reason for this is that money is not inherently valuable. It is a store and a measure of value, but it is not inherently valuable. It's sort of like meters: if the world declares that the meter will be half as long as it currently is, that means it'll be twice as many meters to get from Zimbabwe to Algeria as it was before - but the distance won't have changed. So if you print more money in a country, the value of everything in that country won't have changed - the money you're printing will just become worth less.

This is called inflation. As a result of money being worth less, people want more of it, which means that nominal prices get higher - you need to print even more money, even though the real value of the goods in your country hasn't changed. This is, if you allow it to get too far, a vicious cycle, and it's one that Zimbabwe fell into.

In an attempt to shore up consumer confidence, the government of Zimbabwe revalued the ZWD three times. Didn't matter - Zimbabwe still needed trillion dollar notes. And when your money is worth that little and you need a wheelbarrow to carry the banknotes needed to purchase an apple, your money is serving no purpose at all. Hence, Zimbabwe abandoned its currency and dollarized - adopted a foreign currency as its own.

Source: www.quora.com
 
Another response:

The Zimbabwean currency as well as the economy of Zimbabwe faced "Hyperinflation"
Hyperinflation in Zimbabwe was a period(2000-2008) of currency instability that began in late 1990s, shortly after confiscation of private farms from landowners, towards the end of Zimbabwean involvement in Second Congo War. The currency in Zimbabwe has been experiencing a rapid decline in value for the past eight years. Because of the hyperinflation, the largest denomination of the former Zimbabwean dollars was not able to buy a loaf of bread. Earlier this month, the Reserve Bank of Zimbabwe (RBZ) announced that the high inflation rate (of 231 million percent) has forced the bank to remove 12 zeros from its paperbacks.
Over the past decade, Zimbabwe has accrued the largest public debt in the world, amounting to 240 percent of their GDP6. As the deficit has grown, the government has been paying it off by continually printing out money, leading to an exponentially increasing inflation rate. Since 1995, the inflation rate in Zimbabwe has risen annually from 22.5 percent, to 58.5 percent in 2000, to 6,723.7 percent in 2007, to 231 million percent in July of 20086. The only other instance of this level of hyperinflation was the Hungarian currency in 1946.
In any economy, as you print more dollars, the value of each dollar decreases resulting in inflation. An inflation rate of 240 million percent means that the price of goods doubles at least once a day. The hyperinflation that Zimbabwe is currently experiencing is crippling the economy. Money has three functions; to act as a store of value, a medium of exchange, and a unit of account. Hyperinflation negates these functions.
Prior to 2000, agriculture was the backbone of Zimbabwe's economy, but there was a scarcity of useful farming land and a great disparity between the quality of land owned by black and white Zimbabwean farmers. White Zimbabweans had controlled a majority of the arable land (which only accounts for 8.24 percent of the total land in Zimbabwe) since Zimbabwe was colonized by Britain. The land was used for both private and commercial purposes, but the commercial sector was a huge proponent to Zimbabwe’s agricultural stability. Black Zimbabwean farmers, however, were living on land that was arid and infertile. Because of the social and economic inequalities, the Zimbabwean Government was faced with growing discontent amongst the population.
Beginning in 2000, President Mugabe instituted the Land Acquisition Act, which was supposed to remove thousands of white Zimbabwean farmers from their lands so that it could be redistributed and given to black farmers. The plan was supported by Kofi Annan, then the U.N. Secretary-General, who voiced his agreement by saying, “the equitable distribution of productive capital, such as land, is not only economically important, but also essential to ensure peace and stability”.
There were numerous problems with Mugabe's land reform. First, it was never properly funded. The plan called for every removed farmer to receive a 'fair compensation' for his property, but the government was never able to produce the capital required. As delays ensued, many black Zimbabwean farmers began to feel as if their government had lied to them.
The Zimbabwean dollar has lost its aspect of being a store of value because the value of any biodegradable good will decrease slower than the value of the money that was used to buy that good. If you are a farmer, you are better off holding on to your goods than exchanging them for money. The currency cannot serve as a medium of exchange because businesses are refusing to use it, favoring foreign currencies instead. Lastly, the currency cannot serve as a unit of account because it cannot properly measure the value of the goods in the market; they are changing too rapidly.

Source: www.quora.com
 
I have had the experience of handling ....Rs 10000/- notes ( light brown in colour) and Rs 5000/ notes (violet colour).........in 1975. These notes were subsequently demonetised.

At that time my salary as Grade I officer in Bank was only around Rs 1000/-
 
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