This article today kind of shocked me: Zumbabwe knocks 10 zeros off currency. 10 zeros??? How can somebody have a currency in which you have to deal with such large numbers. Certainly an inflation rate somewhere in between 2.2 million and 12.5 million percent (according to this article at MSNBC) can do something like that really quickly. I kind of vaguely remember the hyperinflation period in Brazil and basically you get two things:
1) Banks become very important and need to make things move quickly. That’s why the banking system in Brazil right now is so good (compared to here in the US).
2) You just don’t keep money laying around. Every minute that you have cash you are losing money. So there were rushes to stores and banks during payment days. And everything would get even more complicated when there were all the plans to freeze prices and such. Life was not fun.
But this was many orders of magnitude lower than Zimbabwe. I can’t think that anybody there can use money. As the bills get out of the press, they are pretty much not worth the paper that was used to make them. Yikes! It saddens me to even think of life there…