Zimbabwe: Gold Deliveries Fall 181,6 Percent (The Herald)

AllAfrica Global Media ^ | Nov 20 , 2008

[george76]

ZIMBABWE'S gold deliveries fell 181,6 percent last month compared to the same period last year.

According to the Chamber of Mines, gold output for October was 125 kilogrammes, down from 352kg last year.

[george76]

This must be the new Zimbabwe math. It would be impossible to fall more than 100% unless they were taking gold back rather than delivering it.

By the article's own numbers of 352 kg last year and 125 kg this year, gold deliveries only fell by 64.5%

Back to school! Oh that's right, they're all closed.

ht comments

[george76]

The sector has virtually shut down as miners cannot fund operations, senior Zimbabwe chamber of mines official Douglas Verden told Reuters.

At its peak, Zimbabwe produced more than 2 400 kg of gold monthly, but miners, who are owed millions of dollars by the central bank and have to cope with the world’s highest inflation rate above 231 million percent, have ground to a halt.

http://www.fin24.com/articles/default/display_article.aspx?Nav=ns&ArticleID=1518-25_2429845

[null and void]

You didn’t factor in the inflation rate...

[george76]

Apart from funds owed by the central bank, Zimbabwean miners are plagued by frequent power cuts, the flight of skilled labour and foreign currency shortages.

[WayneS]

WOW!

So you mean they might have fallen MORE than 181.6%?

Astonishing!

[WayneS]

I sure wish fuel prices would fall 181.6%...

[null and void]

Yeah, ;^)

[SMARTY]

That place is a blueprint for how to dismantle an economy and F up your country. Probably ‘The “Mr. I Hate America” President’s’ playbook for his administration. Can’t wait!!!

[norraad]

I know oil companies keep several sets of books (they never pay the stated per barrel cost).

These guys have to be just as bad or worse.

Never think what whorescum like these tell you is anything more than a nice yarn spun to sway opinion in their favor, it's the only thing that spurs them on to flap lips in the first place.

[USFRIENDINVICTORIA]

They must teach such things in journalism school — “Math 001: Those pesky percentages”.

[abb]

What the hell!?!?!? You mean people have to actually WORK and then be paid for it for things to happen?

But they told us Utopia was no work and everyone’s every desire would be fulfilled!

[ctdonath2]

Apparently the miners are so mad they’re putting gold back into the ground.

[Stentor]

At its peak, Zimbabwe produced more than 2 400 kg of gold monthly, but miners, who are owed millions of dollars by the central bank and have to cope with the world’s highest inflation rate above 231 million percent, have ground to a halt.

Are they saying that people won't work when they're not being paid in currency that's worthless anyway? Who'd a thunk it?

[Stentor]

the flight of skilled labour and foreign currency shortages.

So white guys are running ahead of a necklacing and what foreign currency is earned is probably being spent by the powerful government ministers on their wives Paris shopping trips.

[Doctor Raoul]

They have their own Obama.

[TheThinker]

Can you imagine living in a place like Zimbabwe, where you work like a dog, you’re money’s worthless and there’s just stilfling government regulations? Oh, wait, did I just describe America under current and future Democrat rule?

[Jaded]

ditto

[50sDad]

Obviously, even the soldiers are too week to do any mining, what with living on tree bark and insects.

[Clive]

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