Market Review and Trends
Zimbabwee goes to barter trade–What happens when fiat money collapses
By Investment Moats  •  December 23, 2010
Zimbabwee goes to barter trade–What happens when fiat money collapses 19zimbabwe span articleLarge Here is a story found from New York Times. I believe a lot of folks know that Zimbabwee had hyperinflation for quite some time. Paper money there is basically worthless. So how would you procure healthcare services? By Trading Peanuts.
The hospital’s cavernous chapel is now filled with what looks like a giant sand dune of unshelled nuts. The hospital makes them into peanut butter that is mixed into patients’ breakfast porridge, spread on teatime snacks and melted into vegetables at dinnertime. “We literally are providing medical services for peanuts!” exclaimed Kathy McCarty, a nurse from California who has run this rural hospital, 35 miles from the nearest tarred road, since 1981. The hospital, along with countless Zimbabweans, turned to barter in earnest in 2008 when inflation peaked at what theInternational Monetary Fund estimates was an astonishing 500 billion percent, wiping out life savings, making even trillion-dollar ...
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By Investment Moats
Investment Moats is set up by Kyith Ng and have been around since 2005. He aims to share his experiences making sense of money, how money works and ways to grow his money. It hopes that by sharing his experiences, both good and bad, season investors can advice and critique his decisions and new investors can learn from them and find their own style ...
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