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“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.

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.