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Zimbabwe slashes 16 zeros from currency but dollar still a joke
euronews ^
| 6-12-2015
Posted on 06/12/2015 9:00:55 AM PDT by Citizen Zed
From next Monday Zimbabweans with have their mental arithmetic simplified for them with the news some zeros are coming off the currency.
Quite a lot of zeros. No less than 16, as the federal reserve attempts to end funny money by offering one new Zimbabwe dollar in exchange for 35 quadrillion old ones.
However the real hyperinflation rate is in fact worse. The money being replaced was only issued in 2008, when the exchange rate was one for 10 billion. The real hyperinflation rate has 25 zeroes attached.
This is now hyperinflation an elderly German would recognise, with all its attendant risks.
Since 2009 the dollar and other foreign currencies have been vital for Zimbabwe to remain afloat as confidence in the local currency and government’s economic policy of continually printing money has collapsed.
From being a nation of multi-billionaires Zimbabweans will be much poorer from next week; but then most people knew that already.
TOPICS: Chit/Chat
KEYWORDS: alexistsipras; currency; dollar; europeanunion; greece; money; syriza; weimar; weimarrepublic; zimbabwe
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To: Bucky14
Obama dollars instead of U.S. Dollars.Has a good ring to it.A worthless Dollar from a worthless president.
21
posted on
06/12/2015 9:40:41 AM PDT
by
puppypusher
( The World is going to the dogs.)
To: Bloody Sam Roberts
I think that I buy stack and sell them here as ‘African Art’ or some such for 5 bucks each and make some cash
22
posted on
06/12/2015 9:46:28 AM PDT
by
NativeSon
( Grease the floor with Crisco when I dance the Disco)
To: Citizen Zed
"I'm going to go stand in line to buy some bread, see you next Tuesday honey"
23
posted on
06/12/2015 9:50:36 AM PDT
by
GeronL
To: Citizen Zed
24
posted on
06/12/2015 9:51:34 AM PDT
by
uncitizen
(The GOPE is bruisin' for a Cruz'n)
To: Citizen Zed
When Zimbabwe was Rhodesia (Cecil J Rhodes), it was an exporter of food and successful. Now as Mugabe's Zimbabwe, it is one of the most miserable places on earth as the anti-colonial fight migrated to anti-white fight to the current thugocracy. Just goes to show, if you have the guns you too can be a dictator and survive hyper-inflation! NOTE: This chart was only for 2000 to 2010, the hyper period. Inflation 'moderated' in the past several years. FYI: The PRC Chinese are very involved in this area.
25
posted on
06/12/2015 9:51:57 AM PDT
by
SES1066
(Quality, Speed or Economical - Any 2 of 3 except in government - 1 at best but never #3!)
To: SES1066
“The PRC Chinese are very involved in this area”
Of course they are. They financed his faction. All the while Britain, South Africa and the US (Jimmy Carter) sold out Rhodesia and the middle of Africa fell to the communists.
If you’re interested, have a look at
Bitter Harvest
Zimbabwe and the Aftermath of its Independence by Ian Smith.
Everything he predicted has come to pass.
26
posted on
06/12/2015 10:04:49 AM PDT
by
Stormdog
(A rifle transforms one from subject to Citizen)
To: mc5cents
Hate to be picayune, but there are 15 zeros in a quadrillion, not 16.Quite true, but:
No less than 16, as the federal reserve attempts to end funny money by offering one new Zimbabwe dollar in exchange for 35 quadrillion old ones.
So, the exchange is not a quadrillion to 1 (equivalent to striking 15 zeroes)... and not even 10 quadrillion to 1 (striking 16 zeroes) - but 35 quadrillion to 1.
Regards,
27
posted on
06/12/2015 10:07:06 AM PDT
by
alexander_busek
(Extraordinary claims require extraordinary evidence.)
To: Citizen Zed
A smart Zimbabwian would put trillion dollar notes on e-bay as curiosities for a few bucks American plus postage.
28
posted on
06/12/2015 10:25:58 AM PDT
by
JimRed
(Excise the cancer before it kills us; feed & Ifwater the Tree of Liberty! TERM LIMITS NOW & FOREVER!)
To: SeaHawkFan
Gee, there was no starvation when the white Europeans ran the farms. What happened? /sarcasmThat's not sarcasm, it's truth; and TRUTH is the new HATE SPEECH!
29
posted on
06/12/2015 10:27:22 AM PDT
by
JimRed
(Excise the cancer before it kills us; feed & Ifwater the Tree of Liberty! TERM LIMITS NOW & FOREVER!)
To: Citizen Zed
Coming soon -- from those wonderful people who brought you the Obama Phone...
Obama Dollars!!
30
posted on
06/12/2015 10:28:43 AM PDT
by
Cincinatus
(Omnia relinquit servare Rempublicam)
To: Citizen Zed
31
posted on
06/12/2015 10:29:59 AM PDT
by
FredZarguna
(It looks just like a Telefunken U-47 -- with leather.)
To: MeshugeMikey; Slings and Arrows; Nachum
Do you have any of those Zimbabwe Brazillion Dollars?
32
posted on
06/12/2015 10:32:54 AM PDT
by
a fool in paradise
(Funny how Hollywood's 'No Nukes' crowd has been silent during Obama's Iranian nuclear negotiations.)
To: SeaHawkFan
Gee, there was no starvation when the white Europeans ran the farms. What happened? /sarcasm I just sent this link to my friends who were farmers in Zimbabwe until their farm got taken (now they live in Zambia). They replied that this story is nothing new... everyone's been using US dollars there for a long time now.
To: alexander_busek
34
posted on
06/12/2015 10:52:30 AM PDT
by
mc5cents
(Pray for America)
To: JimRed
The Truth sounds like hate speech to those who hate the Truth.
35
posted on
06/12/2015 10:59:09 AM PDT
by
Bloody Sam Roberts
("It is never untimely to yank the rope of freedom's bell." - - Frank Capra)
To: FredZarguna
6.022 × 1023 DOLLARS$1 for each molecule in 2 grams of H2 . . . .
36
posted on
06/12/2015 11:29:23 AM PDT
by
conservatism_IS_compassion
('Liberalism' is a conspiracy against the public by wire-service journalism.)
To: Citizen Zed
Government: the only entity that can take a valuable commodity like paper and make it worthless by adding ink.
L
37
posted on
06/12/2015 11:32:51 AM PDT
by
Lurker
(Violence is rarely the answer. But when it is it is the only answer.)
To: Citizen Zed
Did someone send them a “Reset” button?
38
posted on
06/12/2015 11:35:36 AM PDT
by
exit82
("The Taliban is on the inside of the building" E. Nordstrom 10-10-12)
To: GeronL
The wheelbarrow is worth more. LOL
39
posted on
06/12/2015 11:55:45 AM PDT
by
728b
(Never cry over something that can not cry over you.)
To: Lurker
Government: the only entity that can take a valuable commodity like paper and make it worthless by adding ink. Ding, ding, ding - we have a WINNER!
40
posted on
06/12/2015 12:16:47 PM PDT
by
SES1066
(Quality, Speed or Economical - Any 2 of 3 except in government - 1 at best but never #3!)
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