Zimbabwe prepares to introduce new currency this month

Associated Press ^ | Nov 1, 2016 9:41 AM EDT

[Olog-hai]

Zimbabwe’s president has formalized a law allowing the introduction of a new currency this month.

The new bond notes, backed by a $200 million Afreximbank bond facility, will be regarded as legal tender for all local transactions.

This southern African nation abandoned its own currency in 2009 after inflation hit 231 million percent, according to government figures. …

[PGR88]

This is how African countries become “African.”

[thesharkboy]

inflation hit 231 million percent

That'll buff right out.

[Dilbert San Diego]

The country has a cash shortage due to low exports????

This country formerly known as Rhodesia was at one time the breadbasket of Africa. They were a net food exporter.

Any relation here to their policy of forcibly taking farmland from white farmers, and giving the land to blacks who don’t know the first thing about agriculture???

[Tenacious 1]

At one point in Zimbabwe, it was cheaper to burn money than wood.

[IC Ken]

You mean my 1 Trillion dollar bill I keep is no good anymore?

[Tenacious 1]

Any relation here to their policy of forcibly taking farmland from white farmers, and giving the land to blacks who don’t know the first thing about agriculture???

Is the Pope Catholic? I mean does a bear poop in the woods?

[politicianslie]

President Trump will soon have to introduce a new currency in the US.

And there will be no Federal Reserve.

America's FIRST Muslim President thought he could screw the US for decades with his mass spending and anti-American policies. Trump has made the Muslim TRAITORS look like idiots as the Clintons and thousands of others watch from jail.

Just a prediction......

[Lazamataz]

I’m convinced Satan is in charge now.
How else does a bast’d like Mugabe stay n alive well into their 90s

[heterosupremacist]

[Olog-hai]

Might become a collectible . . . some of the $100 trillion bills are nowadays.

[Olog-hai]

Don’t forget that old saying, “The devil takes care of his own”.

[Oatka]

At one point in Zimbabwe, it was cheaper to burn money than wood.

"History doesn't repeat itself, but it does rhyme.” - Mark Twain.

A German woman uses banknotes to light her stove. 1923.

[Mr. Douglas]

In honor of the Hitchhiker’s guide, I think they should use leaves.

[C210N]

after inflation hit 231 million percent...

Obviously, they are exaggerating for effect. Probably for a single second, or due to rounded up to the nearest 231 million.

In reality, I bet the inflation never went over 225 million percent.

[Rebelbase]

One of my kids paid $15 for a $10 Trillion Zimbabwe note a few years back.

[GraceG]

They used to put Carl Sagan on their currency but with his billions and billions that was just not big enough for numbers....

Maybe they should start using exponents on their cash, but since they are too dumb to understand the simple concept of inflation it would just confuse them further...

[rfp1234]

They should call the new currency the “Obama”.

[VTenigma]

Made me laugh even though I know it’s true.

[ArcadeQuarters]

Everyone in Zimbabwe is rich! Creating money with no production to back it worked!