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Wednesday, October 01, 2008

Tens of thousands flood Zimbabwe banks as 11,000,000% inflation sparks cash shortage

Tens of thousands of Zimbabweans have been besieging the country's banks to withdraw their cash before it loses its value.
With inflation at 11million per cent, the savers wanted to take advantage of a higher limit on withdrawals. Previously the maximum that could be taken out was 1,000 Zimbabwean dollars - barely enough to buy a newspaper.
The new limit of 20,000 dollars was still, however, too low for campaigners who want the cap scrapped.

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Take note America and the UK, If the central banks just keep printing imaginary money to try and print their way out of a crisis...

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