516 Quintillion Percent Inflation Strikes Zimbabwe: Is U.S. Next?
By Mike Adams, November 14, 2008 | Key concepts: Hyperinflation, Central banks and Zimbabwe
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Inflation is so high in Zimbabwe that prices are doubling every 15 hours or so. The cause? The Zimbabwean version of the Federal Reserve. Central banks are always the root cause of hyperinflation that ultimately devastates the economy, destroying the life savings (and incomes) of the People. The U.S. Federal Reserve, which isn't even part of the U.S. government, is pushing the United States in the same direction. The more money it creates out of nothing, the greater future inflation it kicks into gear.
From Telegraph.co.: The latest figures put the country's annual rate at 516 quintillion per cent – 516 followed by 18 zeros – overtaking Yugoslavia in 1994 and putting it behind only Hungary in 1946.... more
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