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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.)
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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)
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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
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To: Citizen Zed

She’s buying a Popsicle


24 posted on 06/12/2015 9:51:34 AM PDT by uncitizen (The GOPE is bruisin' for a Cruz'n)
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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!)
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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)
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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.)
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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!)
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To: SeaHawkFan
Gee, there was no starvation when the white Europeans ran the farms. What happened? /sarcasm

That'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!)
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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)
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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.)
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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.)
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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.

33 posted on 06/12/2015 10:42:14 AM PDT by Cementjungle
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To: alexander_busek

:-) Yes


34 posted on 06/12/2015 10:52:30 AM PDT by mc5cents (Pray for America)
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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)
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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.)
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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.)
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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)
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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.)
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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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