Zimbabwe is to introduce a bank-note worth Z$100bn in response to rampant inflation - but the note will barely cover the cost of two loaves of bread.
Some Zimbabweans are already calling for higher denominations in a country where the official annual inflation rate has exceeded 2,200,000%.
Independent economists believe the real rate is many times higher.
Mind you, as I've pointed out before, we have seen even more rampant hyperinflation. The modern-day record is still held, I believe, by Hungary. [Emphasis mine.]
Hungary went through its worst inflation in modern history in 1945-46. Before 1945, the highest denomination was 1,000 pengő. By the end of 1945, it was 10,000,000 pengő. The highest denomination in mid-1946 was 100,000,000,000,000,000,000 pengő.
The rate of inflation was 4.19 quintillion (4.19 x 1018) percent.
A special currency the adópengő—or tax pengő—was created for tax and postal payments . The value of the adópengő was adjusted each day, by radio announcement. On January 1, 1946 one adópengő equaled one pengő. By late July, one adópengő equaled 2,000,000,000,000,000,000,000 or 2×1021pengő.
When the pengo was replaced in August 1946 by the forint, the total value of all Hungarian banknotes in circulation amounted to one-thousandth of one US cent. It is the most severe known incident of inflation recorded, peaking at 4.19 × 1016 percent per month (prices double every 15 hours).
The overall impact of hyperinflation: On the 1st of August, 1946 400,000,000,000,000,000,000,000,000,000 or 4×1029 (four hundred octillion [ short scale ] ) pengő became 1 forint.
Cap'n Bob Mugabe has some way to go to beat that, but he does seem to be trying awfully hard. Perhaps he is trying to get into the Guinness Book of Records under something other than the "Most Useless Cunt Of An African Leader And That's Fucking Saying Something" category...