Scary hypothetical question, is it possible for bread to cost 100 trillion dollars?
26-30, F
ViciDraco · 41-45, M
If it were to happen during our lifetime I think society itself would collapse before that level of hyperinflation could set in.
On the other hand, if the United States or some other dollar using nation managed to survive long enough without overhauling the economic system or revamping their currency, then maybe! Bread was 12 cents in 1950. Over a long enough time scale even regular inflation could take it there. The power of compounding increases!
On the other hand, if the United States or some other dollar using nation managed to survive long enough without overhauling the economic system or revamping their currency, then maybe! Bread was 12 cents in 1950. Over a long enough time scale even regular inflation could take it there. The power of compounding increases!
Peaceandnamaste · 26-30, F
@ViciDraco Similar thing like that happened in Zimbabwe, the hyperinflation got so bad that they had to start over again. Bread became astronomical and there were homeless billionaires.
ElwoodBlues · M
In Zimbabwe it was even worse than that!!
This article is from 2015
P.S. you can buy a Zimbabwe 100 Trillion Dollar Gold Foil Note for under $3. I don't think it was ever real currency though.
https://www.ebay.com/itm/383776512603
This article is from 2015
As part of a “demonetization” program, Zimbabwe's central bank plans to remove the 100-million dollar, 100-trillion dollar and other bank notes from circulation.
Zimbabwe will rely on the US dollar for purchases
And what will Zimbabweans get for their cash? For every 175 quadrillion Zimbabwe dollars, locals will get $5 in exchange. So, 250 trillion Zimbabwe dollars will be worth just $1.
Source: https://theworld.org/stories/2015/06/12/what-can-you-buy-100-trillion-zimbabwe-maybe-ice-creamZimbabwe will rely on the US dollar for purchases
And what will Zimbabweans get for their cash? For every 175 quadrillion Zimbabwe dollars, locals will get $5 in exchange. So, 250 trillion Zimbabwe dollars will be worth just $1.
P.S. you can buy a Zimbabwe 100 Trillion Dollar Gold Foil Note for under $3. I don't think it was ever real currency though.
https://www.ebay.com/itm/383776512603
JPWhoo · 36-40, M
Trappedmermaidsoul · 26-30, F
@BlueVeins Yep Hyperinflation can cause that
Trappedmermaidsoul · 26-30, F
@TheOneyouwerewarnedabout Hyperinflation basically
Trappedmermaidsoul · 26-30, F
@TheOneyouwerewarnedabout Thank goodness they got sleep Jo out of there before that would happen.
TinyViolins · 31-35, M
Once hyperinflation gets that bad, money is essentially useless. Might go back to the barter system before things ever get that expensive
I doubt that the Fed would even bother printing money at that point. The paper would be more expensive than the bills
I doubt that the Fed would even bother printing money at that point. The paper would be more expensive than the bills
Tennessee · 46-50, F
Time to invest in lots of gold and silver.
And Bitcoin also.
And Bitcoin also.
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BohemianBabe · M
Trappedmermaidsoul · 26-30, F
@BohemianBabe moral of the story Wealth is subjective
BohemianBabe · M
@Trappedmermaidsoul I'm sure there are plenty of millionaires who think the reason they're still not happy is because they're not billionaires.
Trappedmermaidsoul · 26-30, F
@Tastyfrzz And then we need money racks to buy apples and ice cream.
Peaceandnamaste · 26-30, F
Hyperinflation that happened in Germany and Zimbabwe and also Venezuela.
bijouxbroussard · F
Someone could charge that. Doesn’t mean they’d get it.
