Zimbabwe Giving Up On Their Own Currency

[mrjarrell]

From the about damn time files. Zimbabwe is ditching their currency for foreign currency. Citizens will be allowed to turn in their Zim dollars for US dollars.

Bank accounts with balances of up to 175 quadrillion Zimbabwean dollars will be paid $5. Those with balances above 175 quadrillion dollars will be paid at an exchange rate of $1 to 35 quadrillion Zimbabwean dollars.

 

[BogWalker]

I thought they had done this a while back. I guess not. Oh, Zimbabwe. Went from the bread basket of Africa to one of the poorest nations on Earth almost over night. I guess that's what happens when you launch a war against the economic producers of a nation.

 

[Jomibe]

Oh, Zimbabwe. Went from the bread basket of Africa to one of the poorest nations on Earth almost over night. I guess that's what happens when you launch a war against the economic producers of a nation.

Rhodesia was a nation with a future. Zimbabwe doesn't have one. Congratulations "zimbabweans", enjoy living in your paradise free of white people.

 

[srad]

enjoy living in your paradise free of white people.

Millions of Zimbabweans have left to enjoy freedom, opportunity, and prosperity in nations run, ironically, by white people. The Zimbabwean diaspora in the UK, Europe, Australia, and North America is massive. Folks living in Zim pretty much have to depend on the forex coming in from friends and relatives via MoneyGram & Western Union.

My first trip to Zim was in '87 right after Mugabe changed the Constitution to become Dictator For Life; old joke from a good friend in Salisbury (now Harare), "What did Zimbabweans use for light before candles?"... "Electricity".
The nation has gone downhill since 1980... it fell off a cliff in '08 when inflation hit 500 BILLION PERCENT.

View attachment 39171

 

[Drail]

If the U.S. doesn't get a grip on our inflation we'll be heading down this road too. As Steve Miller says - your cash ain't nothing but trash.

 

[IndyDave1776]

If the U.S. doesn't get a grip on our inflation we'll be heading down this road too. As Steve Miller says - your cash ain't nothing but trash.

This needs repeated just in case anyone missed it the first time. The only reason the $USD is valuable is because people believe that it is valuable. It has no backing aside from the health of the US economy and the integrity of the Fed, neither of which have much market value these days. As soon as we hit some double-digit inflation which we are not really that far from reaching, people will see really quickly that the emperor is buck naked.

 

[Mr Evilwrench]

Our inflation is way more than reported, maybe a bit into double digits already. The .gov reports on a "basket of goods", but they keep leaving out such things as food, energy, etc. that keep rising, and replacing them with stuff that supports their narrative. They play tricks with unemployment and interest rates, too.

 

[MisterChester]

Our inflation is way more than reported, maybe a bit into double digits already. The .gov reports on a "basket of goods", but they keep leaving out such things as food, energy, etc. that keep rising, and replacing them with stuff that supports their narrative. They play tricks with unemployment and interest rates, too.

Not necessarily. If it wasn't artificial inflation then our wages should have increased along with it, but they haven't.

 

[Loco179]

This is way interesting! Rhodesia was doing well.

 

[IndyDave1776]

Our inflation is way more than reported, maybe a bit into double digits already. The .gov reports on a "basket of goods", but they keep leaving out such things as food, energy, etc. that keep rising, and replacing them with stuff that supports their narrative. They play tricks with unemployment and interest rates, too.

I know. Based on general observation regarding things I buy without doing any really hard math, it seems to run at least 5%, maybe a bit higher. I never pay much attention to the official rates of inflation or unemployment rates in the knowledge that both are highly contrived numbers.

Not necessarily. If it wasn't artificial inflation then our wages should have increased along with it, but they haven't.

They haven't and they won't. This is how we can be pushed into the condition of a third-world cesspit without actually cutting anyone's income. The hard money people take a hit today as most people are in debt and repay that debt with devalued dollars, but the hard money people can make that money back tomorrow. In the mean time, most people who work for a living have taken a significant de facto pay cut by virtue of the stagnant numeric value of their wages combined with the money being actually worth significantly less than it had been. Sounds like a nasty little trap to me with no winners other than the select handful who are manipulating the currency. Soros, I'm looking at you (among others).

 

[IndyDave1776]

This is way interesting! Rhodesia was doing well.

Deport or kill everyone who knew their asses from holes in the ground and this type of thing will happen.

 

[Leadeye]

Bobbie Mugabe has been playing this game a long time. Too long really.

 

[indiucky]

Deport or kill everyone who knew their asses from holes in the ground and this type of thing will happen.

Here is some neat pics of those that "knew their a$$e$$ from holes in the ground" along with a popular country song of the time (in Rhodesia)....

[video=youtube;RrvXTIT2yJ0]https://www.youtube.com/watch?v=RrvXTIT2yJ0[/video]


FYI the video is "gun porn" if you have a thing for UZI's and FN FAL's...

 

[Dosproduction]

Stupid Zimbabweans they switch from there currency to the dollar only to have the dollar be inflated to the same level as there own currency. SUCKERS.

 

[IndyDave1776]

Stupid Zimbabweans they switch from there currency to the dollar only to have the dollar be inflated to the same level as there own currency. SUCKERS.

Come on. If that were that damned smart, they wouldn't be in the situation they are in.

 

[1DOWN4UP]

http://img1.photographersdirect.com/img/5171/wm/pd3124971.jpg

 

[IndyDave1776]

http://img1.photographersdirect.com/img/5171/wm/pd3124971.jpg

Is that a Zimbabwean Brinks driver?

 

[Bill of Rights]

I'll just leave this here:

Not a Photoshop. I own two of these, but this one is just a pic I found online.