What happened to the genius Gordon Gono?
Posted on 01/29/2009 8:18:12 PM PST by TigerLikesRooster
Zimbabwe abandons its currency
Zimbabweans will be allowed to conduct business in other currencies, alongside the Zimbabwe dollar, in an effort to stem the country's runaway inflation.
The announcement was made by acting Finance Minister Patrick Chinamasa.
BBC southern Africa correspondent Peter Biles says the Zimbabwean dollar has become a laughing stock. A Z$100 trillion note was recently introduced.
Until now only licensed businesses could accept foreign currencies, although it was common practice.
The country is also facing a deepening humanitarian crisis as well.
A cholera outbreak has killed over 3,000 people according to the World Health Organization (WHO).
And the World Food Programme (WFP) has revised up the number of people it says need food aid.
It now says seven million Zimbabweans are in need
(Excerpt) Read more at news.bbc.co.uk ...
The US dollar is now being used by businesses in Zim. It must grate on the Zim govt to have all those evil white fellows on the banknotes.
This is just really, really terrible.
So where do we get one of these Z$1T notes, just for a collector’s item... and how much would it cost in US$?
“Just how do you abandon a currency?”
“Zimbabweans will be allowed to conduct business in other currencies, alongside the Zimbabwe dollar, in an effort to stem the country’s runaway inflation.”
Perhaps they finally realize that it’s not possible to stem the use of other currency...?
It’s become too expensive to continue to print their own...?
Their ink and paper sources have cut them off...?
Mugabe foresees his expulsion and is building up his retirement fund in exchangeable currency...?
The deal with China fell through?
I’d venture that after abandoning their populace, doing the same with their useless script is easy.
Actually, now that they’ve quit printing the $100 trillion notes, I’m sure the value of that note will go up. I wouldn’t mind having a few of them. I’d be willing to pay as much as $5 US for one.
“Can you break a $100 trillion note?”
“Sorry, that is the smallest denomination there is.”
It really isn’t that hard... most people are like sheep... so it takes only a few dedicated militant supporters.
Anyone know where to buy some Zimbabwe currency? I have been trying to find some (I just wand a couple for conversation pieces). All the trading houses apparently no longer have access to it...
It looks like there’s some on ebay, at premium prices.
Is this about Robert Mugabe being dumped by the Zimbabweans??
The approximately 4 dozen senior powerbrokers inside the Mugabe regime had been using the currency manipulation as the last resort option to pay their downstream payrolls. They would exchange freshly printed Zimbabwe currency at the official exchange rate for hard cash foreign currency. If this is over there is nothing left but imminent collapse and internecine warfare to control the mines. There is now nothing but blood diamonds to pay the praetorian troops with, let alone the ragtag conscript army.
LOL!
And pay them with:
Zimbabwe
Industries:
mining (coal, gold, platinum
yitbos
You could always go online and get an image and print it yourself....would be worth just as much. :)
What happened to the genius Gordon Gono?
There was a limit on how much you could withdraw from the banks, so any currency, regardless of how degraded, disappeared as soon as it appeared. Gono even prohibited electronic transactions. I don’t know if that ban is still in place.
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