Hyper-Inflation, Up Close and Personal
By Mary Theroux • Tuesday September 29, 2009 10:34 AM PDT • 4 Comments
Dear Anonymous Donor:
Thank you for your contribution of a 2008 1,000,000,000,000 Zimbabwean dollar (ZWD) note, received by mail today. We note that the Zimbabwean government redenominated the ZWD again on February 2, 2009, at a rate of 1,000,000,000,000 old ZWD to 1 new ZWD, and as I write this your donation is currently valued at $0.00275961.
Since we don’t know where to send a letter thanking you for your contribution, please consider this your official notification that, in accordance with IRS regulations, your entire gift is tax-deductible, in return for which no goods or services were provided.
Please consult your own tax counsel to determine if you can deduct the cost of the stamp you used to mail it to us: its value is nearly 160 times that of your enclosed cash donation.
Very truly yours,