*robbery rage* *Hamid Mir* * We had heard a lot of stories about the amazing corruption of politicians. Yesterday afternoon we had the opportunity to hear the corruption stories of a man who, who, who, who, who, for many years, years, years, years, was both a wonder and anathema to many politicians. This person's name was Faiz Hameed. *I thought that I knew a lot about the person, person, person, person, but yesterday I met three such personalities at a friend's place, and after listening to their conversation, I felt that Faiz Hameed is not the head of any intelligence agency but of an underworld gang from 2019 to 2021. were* *After hearing the stories of Faiz Hameed's looting, I had to admit that there are other places beyond the stars and there are many more tests to trace Faiz's corruption.* * A businessman present in this gathering did not say anything that was heard, but he was telling his own bait. In 2021, a false case was made against hi...
💴 World's highest denomination currency note💵
One hundred trillion Zimbabwean dollar notes
Currency notes have no value of their own. Its value is determined by the government, for which it is necessary. That this country has assets of this value. The prices of things are fixed according to the amount of money in any country. Our currency note clearly states that Bank Daulat Pakistan will pay the holder on demand. Issued under the guaranty of the Government of Pakistan".
If the government withdraws its guarantee, the notes will have the same status as waste paper.
It is a receipt, a promise, an affidavit that the government of Pakistan will pay the gold, silver, commodities or whatever the bearer of the receipt demands.
When the number of notes in circulation increases due to printing more notes, it is called inflation.
In general, this leads to an increase in inflation.
When the number of notes in circulation decreases, it is called deflation. Usually prices start to fall at such an occasion.
All central banks create wealth by printing notes and want to float it in the market, hence inflation. Therefore, the central bank is the biggest supporter of inflation and always advocates that inflation is necessary for the economy. If inflation ever gets uncontrollable, central banks raise interest rates, allowing large amounts of notes in circulation to be deposited in banks or savings schemes and inflation can be controlled.
Deinflation is more difficult for central banks to control because there is no limit to raising interest rates but a limit to lowering them (which is zero). That's why central banks call deflation very destructive even though falling prices benefit the common man. But as the prices fall, the profits of the factory owners decrease and they are unable to repay the loans taken from the banks, so the banks suffer losses. The capitalist loses. Simultaneously, the assessment income of the public authority likewise falls.
Assuming the expansion pace of any nation surpasses 50%, it is considered as excessive inflation and it will end up being a difficult issue for that nation, however in 2008, the expansion pace of Zimbabwe arrived at 79.6 billion percent. In the African nation of Zimbabwe, after the worth of the dollar ran wild, the nearby cash fell such a lot of that it was as of now not feasible to count it lastly the public authority needed to report the finish of the neighborhood money. As Zimbabwe's financial issues deteriorated, expansion in the nation took off that costs started to rise two times per day.
And the value of the local currency fell so low that people had to carry sacks of notes even to buy salt. You can estimate this from the fact that Zimbabwe even issued the world's largest banknote in terms of count. But its price was not even equal to our rupees. Seeing this situation, the government decided to abandon the local currency and it was announced to the public that they can exchange the local currency they have with US dollars, but the amount of US dollars received in exchange for billions of local dollars. It will be negligible.
According to the British newspaper The Guardian, if a person goes to the bank with 250 billion local dollars, he will get one US dollar in return. The Zimbabwean government issued the last local dollar note in 2008 with a denomination of 100 trillion, but it was not even enough to pay the bus fare to get to the office. Even that didn't matter, inflation crossed all limits.
However, this note definitely became a world record, which was the largest currency note in the world in terms of count. This record may never be broken.
The value of our country's currency is also continuously falling. May God protect you
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