Nerdy Note: The easy way to be a millionaire
Former_MSE_Andrea
Posts: 9,614 Forumite
The easy way to be a millionaire
Just because you’re a miilionaire, it doesn’t mean you’re rich. The easy way is convert £55 into 1,000,000 Iranian Rials or Indonesian Rupiahs, or just £31 to get a million Vietnamese Dong. Sadly the turmoil in Zimbabwe and its hyperinflation, means it’d take only 0.012p to get a million Zimbabwean Dollars.
Prices taken from xe.com on 17 Jun 08
Three Million Dong
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Just because you’re a miilionaire, it doesn’t mean you’re rich. The easy way is convert £55 into 1,000,000 Iranian Rials or Indonesian Rupiahs, or just £31 to get a million Vietnamese Dong. Sadly the turmoil in Zimbabwe and its hyperinflation, means it’d take only 0.012p to get a million Zimbabwean Dollars.
Prices taken from xe.com on 17 Jun 08
Three Million Dong
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Got a nerdy money fact you'd like to see in the weekly email? E-mail [EMAIL="nerdynote@moneysavingexpert.com"]Nerdy Notes[/EMAIL]
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Comments
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Yeah but sadly for everyone a million vietnamese dong would probably barely buy you a weeks shopping even in Vietnam. I bet the vietnamese don't think a million vietnamese dong is a lot of money."Keep away from people who try to belittle your ambitions.
Small people always do that, but the really great make you feel that you, too,
can become great."
- Mark Twain0 -
Why stop at being a millionaire? With the Zimbabwean currency gone not just into hyper-inflation, but now being pushed to ludicrous levels with the upcoming elections and Mugabe's "financial incentives" (ahem) and the spending of most of the real money the country has left on printing more ever higher-numbered bank-notes or weapons to fight the upcoming civil-war, you could be a billionaire for pennies.
It's rising constantly, official online sites show in the region of 130 million ZWD for a pound (so £8 makes you a billionaire, if you can afford the cost of transporting all the worthless paper banknotes), but the real exchange rate there is a lot higher- estimated at being in the region of 5 billion ZWD per pound today.
Tomorrow it will be somewhat higher as the exchange rate is doubling roughly every week now- equivalent to an inflation rate of... (works this out- 2^52 increase in price over a year, * 100%) = roughly equivalent to a rate of 450 quadrillion percent per year if it kept this up. A quadrillion is a thousand trillion for those unaware of it, so that is a current rate of 450,000,000,000,000,000%.
Compared with that, our economy is doing very well indeed really
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How can I buy one million Zimbabwe dollars, please?0
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The picture entitled "Three Million Dong" could have been much worse...Pure Profile: £5.40
Valued Opinions: £2 (not that impressed by them)
RPoints/Quidco: Not much, waiting for a couple to appear on the radar.
Financial Achievements 2008: 1) £46 Agent Provocateur for just £22.43, new and legal!
2) Had HSBC waive £100 of fees0 -
MSE_Andrea wrote: »Sadly the turmoil in Zimbabwe and its hyperinflation, means it’d take only 0.012p to get a million Zimbabwean Dollars.
Although the currency exchange would probably charge you £15 fee on top of that.0 -
Does anyone make any money by investing in foreign currency?
Andy0
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