Hyperinflation is hard to grasp, harder still to tolerate

Loose change IN 1946 Gyorgy Faludy, a Hungarian poet, received 300bn pengo for a new edition of his works. The sum would have been worth $ 60bn before the second world war. But after the Nazis departed with Hungary’s gold reserves and the Russians occupied its territory, the country’s currency was not what it was—and […]

When paper money goes to zero value: Venezuelan hyperinflation explained (PHOTO)

Inflation in Venezuela this year could top one million percent, the International Monetary Fund (IMF) predicts. This gallery puts the buying power of today’s bolivar into perspective. A kilogram of meat costs 9,500,000 bolivars, or the equivalent of $ 1.45. A 2.4 kg chicken is worth 14,600,000 bolivars, or $ 2.22. A 1kg packet of […]