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Message
From
18/09/2008 11:54:21
Dragan Nedeljkovich (Online)
Now officially retired
Zrenjanin, Serbia
 
 
To
18/09/2008 11:33:27
General information
Forum:
Politics
Category:
Other
Miscellaneous
Thread ID:
01348236
Message ID:
01348648
Views:
19
>The mistake was not dropping 3 zeros or a multiple of 3, to make it easy to do the conversion, dropping by the thousands is easier and more "natural".
>
>We dropped 3 more zeros in 1985 and 4 more in 1992. So we went from having a stable currency for 90 years since 1881 (when the country really "started"), to dropping 13 zeros between 1970 and 1992. Nice management by the politicians.
>
>So one peso of today equals 10,000,000,000,000 pesos of 1881.

Your inflation was legendary... I remember a joke when el presidente makes a speech and says "our enemies' propaganda says we have a 600% inflation - pure lies, it's only 400%"... but then we had our 1993, where the inflation went to ridiculous heights. We denominated by one zero in mid-1992, then I think two more by the end of the year, then probably four some time in June 1993, then six more in December, three more by New Year, and then on 24th of January the money was replaced by new one at the rate of 13,000,000:1, which lasted for a few days and then went on to 12,000,000:1. The old and new money were in circulation in parallel for six months. The new money held its ground (just like the inflation was a decision of the government, so was the abstinence from it) rather well, and though it had to undergo six more years under the same government (Miloševic LLC), it went down by only a factor of 30 - which is only about 70% inflation annually, but a toy when compared to previous years, when you could get that much over a weekend.

back to same old

the first online autobiography, unfinished by design
What, me reckless? I'm full of recks!
Balkans, eh? Count them.
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