Rest in peace Zimbabwe dollar (ZD). We barely knew you. What actually happened to this practically extinct currency? According to the Cato Institute, Zimbabwe experienced the second highest rate of inflation in a single month in recorded history back in November of 2008. During that span of time, the ZD was suffering a 98% DAILY inflation increase and prices of goods doubled approximately every 24.7 hours.
What killed off the value of the ZD? It was a little thing called hyperinflation. As the first country in the world to hyperinflate this century, perhaps we should have a moment of silence for the recently deceased.
We’re always reminding you how inflation is your best investment hedge against inflation, especially when undertaken in the form of income property. Should we all run out and pad our portfolio with a healthy portion of Zimbabwean real estate?
Probably not. We’re talking runaway hyperinflation in this case, which can easily disintegrate into social unrest or even revolution. At that point, all bets are off. Your best investment then would probably be one good gun and lots of ammo.
No, we suggest you keep your property investments right here in the good old USA. So far, we’ve managed to hold the spectre of inflation somewhat under control. We still believe with all our hearts that you should find the strong local markets that still exist today and buy the heck out of them.
Where are these local markets? Click over to https://www.jasonhartman.com and one of Jason Hartman’s expert investment counselors at Empowered Investor Network will be glad to fill you in.
The Empowered Investor Team
