Hyper-Inflation, Up Close and Personal

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,
Mary Theroux

Mary L. G. Theroux is Senior Vice President of the Independent Institute. Having received her A.B. in economics from Stanford University, she is Managing Director of Lightning Ventures, L.P., a San Francisco Bay Area investment firm, former Chairman of the Board of Advisors for the Salvation Army of both San Francisco and Alameda County, and Vice President of the C.S. Lewis Society of California.
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