Posted on 06/10/2016 3:12:01 PM PDT by Lorianne
So whats the problem? Just but more money.
Did they let the ink dry first?
They did that until they ran out of zeros. That's when they had to switch from their own currency to the U.S. Dollar.
The article speaks as though the citizenry there walk around with the same greenbacks we have.
They print this monopoly money thing based on their closet full of US cash.
So basically, they write money based on our performance in the IMF basket - How good our money is sees how good their money is.
The nicest thing is that technically a movie should cost a nickel.
Yet another country that emerged from “colonialism” to prove that these ferals can’t run themselves. I laugh at their predicament.
Another Marxist shithole proves that Hillary and Bernie are ideological fools and pinkos.
A good PhD project for some enterprising young graduate student, would be to go back to the 70’s and 80’s and see who in U.S. politics and the media told us how great a free-from-white-rule Rhodesia would be.
Start with Sen. Ted Kennedy (D-Mass) and work your way down the food chain of the left.
The history of Zimbabwe is one of Marxist iron-fisted rule, genocide against the white farmers who were the economic backbone of Rhodesia, massive rape against white women, intertribal fighting, No. Korean troops putting down revolts, and a nearly total failure of the Marxist economic system.
After all this time, what do you have? It is not a “failed state” as John Batchelor would call it. It is a “successful Marxist state” in every sense of the word “Marxism”. No. Korea is a “successful” “Communist state” too. So is Red China, the old Soviet Union, Communist Vietnam, Laos, and semi-Marxist Cambodia, among others.
Al Qaeda, ISIS, Hamas, Hezbollah, Fatah, Boko Harum, the Taliban etc. are all successful Islamic extremist movements, not JV operations. A couple of them will be smashed and reduced to nuisances but the fact that we did not crush them when we had the opportunity due to Obama’s cowardice and treason, means that their survival was assured for the foreseeable future.
Unless we get a “mindset” change in the US leadership and academia/media, we will still get the leftist anti-American Obama view thru Hillary, Elizabeth Warren, the Democrat Party and the Bernie Sander’s Marxist/stupid “Childrens’ Crusade”.
In other words, America is screwed until we stand up now and tell the truth about our country’s Marxist domination, their destruction of our basic republican/democracy system, the destruction of the free enterprise system, and how the Democrats are deliberately surrendering to our enemies - Marxist, Islamist, Uber Alles sexual minorities, and anti-American Hispanics mainly from Central America/Mexico.
You know, I’ve never really looked at it that way.
Thanks for the eye-opener. (I’m NOT being snarky!) :)
They do. It was that or the South African Rand. But the kleptocrats in South Africa are developing a similar problem.
Zimbabwe ditches ‘worthless’ currency for the US dollar (2015)
http://www.ft.com/cms/s/0/34d75e42-10e8-11e5-8413-00144feabdc0.html
You can also use Chinese or Japanese currency, and perhaps the Rupee. But the U.S. Dollar is the standard.
So basically, they write money based on our performance in the IMF basket
Wrong, and wrong again.
Bookmark
Reminds me of Noah Berry in PANCHO VILLA. He had lots of money printed, tried to pay the printers with the printed money, but the printers wanted pay in Silver!
“Doves! I hate doves!”
So Please! I ask again where in the world with a BLACK government (like ours) doesn’t spend money like a crackhead with a stolen credit card?......Negroe please enlighten me.
“Wrong, and wrong again.”
(Also the link you posted requires a membership to read, and I would appreciate a kind, sort of “in person” style of response instead of the online anonymity sort of response that runs rampant in these parts.
The US dollar that the Zimbabwean banks are pushing take a single amount of US holdings - US Dollars. So lets say, for argument sake that this amount is $1000.
So among that $1000 it gets divided up into enough paper to serve the whole country. Since this is the basket that they are deriving from, and 10000 citizens hold an equal share of the US $1000 basket that means each person (Again, in equal holding) is holding a dime. If the countrys native currency is totally dead then everything in that country is now measured against the $1000 in US Dollar holdings.
This means that these dimes that people have are worth a few million dollars in their market.
That said, they do NOT walk around with green slips of papers with president faces on them. They have a new paper design that has the faces of Zimbabwean people, in a classic blue bank color and banking script. But the writing on it says “US Dollar Certificate” or something similar (I’ve seen two designs)
Obviously the amounts are not $1000 for the whole country. It may be something like $1,000,000,000. Seeing a “1 US Dollar” may not be unusual.
So like the US used to work in gold and silver certificates, Zimbabwe is now going to start working in US Dollar certificates.
My name isn’t important because this is online and “loose lips sink ships” but I’ll tell you more about me in private message if you need. I made a living for over 8 years in high finance data and system analysis where I worked with Fortune 50 companies, accounting firms, major government think tanks and even for the Canadian Government to build and test systems that could process monetary trade. My resume includes Checkfree, ADS, Dun&Bradstreet, META Group, United Technologies, Arthur Andersen and Deloitte and Touche. I have worked in physical asset trading for Asbury Automotive, Penske and Chevron.
I know many of you are used to dealing with people on the internet who have no clue of what they are talking about, but some of us DO have a clue what we are talking about.
Weren’t they the ones printing counterfeit US dollars?
I found one of those in a Geocache. It was worth less than a little plastic monkey in the box. I took the monkey.
Why should they change? They know they are correct.
time to consider the wife ....
= = =
And can’t afford to fatten her up first ....
The link works for me without a subscription.
Here’s an excerpt from the June 12, 2015 article:
“The Reserve Bank of Zimbabwe said that it will begin a process to “demonetise” its all-but-worthless currency on June 15. The move was planned by the minister of finance and economic development last year and the process is expected to be complete by September 30.
“Within that window, the notes can be exchanged for US dollars. After that they will be worthless — which is not so different from their value now: the RBZ said that accounts “with balances of zero to Z$175 quadrillion will be paid a flat US$5”.”
Since they are running out of dollars/rand/euros/etc, they are planning to start printing their own ‘U.S. Dollars’, allegedly backed by $200 million from the African Export-Import Bank. (Exporters can, for now, get a portion of their money in real hard currency - 40% of their export money in Rand, and 10% in Euros.
You posted:
“This means that these dimes that people have are worth a few million dollars in their market.”
and I’ll say wrong, again. The old millions/billions/trillions have be demonetized, and are now worthless. The newly minted local ‘U.S.Dollars’ are just hitting the market, and while we all should anticipate that they will join the previous output when the government blows through the first $200 million, they haven’t gotten there yet.
M4L Zimbab finance
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