Zimbabwe Introduces $100 Billion Banknotes - Page 2

Site Notices

[ARCHIVED THREAD] - Zimbabwe Introduces $100 Billion Banknotes (Page 2 of 2)

Posted: 7/19/2008 3:23:03 PM EDT

[#1]

The breadbasket of Africa destroyed by Marxist/Socialism. Is anyone surprised? Obama can't wait to bring such government control to America. He promises the change will make America better. Ha!

Posted: 7/19/2008 3:28:57 PM EDT

[#2]

Quoted:

Quoted:
Printing more money will help.

Nothing they do or could have done with their money would make a difference...

When you completely destroy all significant economic activity within your country, you can go 2 ways: hyperinflation or hyperdeflation....

Either your money becomes worthless, or it quickly leaves the country...

Farm Nationalization for the FAIL...

What is the proper course of action that needs to be taken to fix their economy?

Maybe a nuclear bomb and start over?? j/k...

Not sure how things will get fixed. I am sure it will many decades with at least 1 or 2 rfull-out revolutions thrown when the general public gets fed-up with the government

Posted: 7/19/2008 3:31:51 PM EDT

[#3]

Quoted:

Quoted:
Printing more money will help.

Nothing they do or could have done with their money would make a difference...

When you completely destroy all significant economic activity within your country, you can go 2 ways: hyperinflation or hyperdeflation....

Either your money becomes worthless, or it quickly leaves the country...

Farm Nationalization for the FAIL...

What is the proper course of action that needs to be taken to fix their economy?

White colonial imperialism.

Posted: 7/19/2008 3:31:52 PM EDT

[#4]

IIRC Zimbabwe used to be the "bread basket" of Africa. Then the farms got taken away from those oppresing white people.

Posted: 7/19/2008 3:37:13 PM EDT

[#5]

I'm gonna get $20 turned into Zimbabwe currency so I can brag to all the chicks that I'm a billionaire.

Posted: 7/19/2008 3:40:59 PM EDT

[#6]

Quoted:
I'm gonna get $20 turned into Zimbabwe currency so I can brag to all the chicks that I'm a trillionaire.

Fixed it for you

Posted: 7/19/2008 3:42:07 PM EDT

[#7]

Quoted:
Zimbabwe Ran out of Money to Print Money

CASH shortages have returned to haunt Zimbabweans.

Banks started rationing money on Friday, allowing clients to withdraw only Zim$5 million (about US$49) to avert crowd trouble, but most ran out of mint-print, prompting desperate clients to form overnight queues outside.

Official sources said the recent 150 percent pay rise for soldiers, teachers, policemen and nurses had put a strain on money supply.

Reserve Bank officials told IRIN that plans to print about Zim$60 trillion (about US$592.9 million) were briefly delayed after the government failed to secure foreign currency to buy ink and special paper for printing money.

Inflation has shot to 1,042 percent and is still climbing as the economic meltdown continues, putting Zimbabwe's rapidly dwindling working class in an ever more precarious position. Cash shortages were last experienced in 2003 and only ended after the introduction of high- denomination bearer cheques.

One bank manager told IRIN: "We don't have enough money. The best we can do is to share the little money that is there among our clients," but added quietly, "As the manager I can use my discretion and assist genuinely desperate cases."

However, his voice was not low enough and he was immediately surrounded by more than 20 people. "I need to pay $40 million [US$395] at the hospital, $5 million [US$49] is of no use to me," pleaded one man.

Another in his late 20s was equally desperate. "I need to withdraw $200 million [about US$1,976] by Saturday to pay the bridal price for my girlfriend, but at $5 million [US$49] a day I will not have enough money on the day," he lamented.

The manager, sweating profusely, escaped to the safety of another office.

Margaret Phiri, 36, who teaches at a school 70km east of the capital, was equally devastated.

"I had borrowed a total of $6 million [US$59] from friends and I was supposed to pay them back this week after getting my salary from the bank, but as things stand now I am in trouble because those people expect me to bring them their money, while I also need to get money to sustain myself," she said.

A soldier who refused to identify himself could not hide his frustration. "What do you think I will do with this $5 million[US$49]? It cannot buy much. I usually withdraw all my salary at once, but now I am being given the burden of coming to the bank again for more withdrawals," he complained.

The soldier was followed by murmurs of: "The government has failed," and "This is a sign of poor economic management."

It took a long wait on the sidewalk in a temperature of 25 degrees centigrade before Given Maramba, a Harare resident, reached the bank teller. "You really need nerves of steel to endure the torture of those queues - I queued for a solid three hours before I was finally served," he said, brandishing a wad of notes -

It's this quote that caught my attention. If the army is not getting paid then they will turn, and then the end is near. Just like Russia in 1918.

A soldier who refused to identify himself could not hide his frustration. "What do you think I will do with this $5 million[US$49]? It cannot buy much. I usually withdraw all my salary at once, but now I am being given the burden of coming to the bank again for more withdrawals," he complained.

The soldier was followed by murmurs of: "The government has failed," and "This is a sign of poor economic management."

Posted: 7/19/2008 3:49:25 PM EDT

[#8]

Quoted:

Quoted:
Rhodesia was the last best hope for Africa.

So what?!.......

Black rule is FINALLY being shown for what it is.........a cluster fuck!

Can we go back to whitey running things now?

.

No, they're going to give the chinamen a try.

I don't think China's gonna stick their dick in that blender.

Posted: 7/19/2008 4:19:05 PM EDT

[#9]

Quoted:

Quoted:
Rhodesia was the last best hope for Africa.

So what?!.......

Black rule is FINALLY being shown for what it is.........a cluster fuck!

Can we go back to whitey running things now?

.

No, they're going to give the chinamen a try.

I don't think China's gonna stick their dick in that blender.

do a search of gd for china, there's a thread about how they're moving into africa in a big way

Posted: 7/19/2008 5:17:04 PM EDT

[#10]

Quoted:

do a search of gd for china, there's a thread about how they're moving into africa in a big way

In the end, they'll probably get disgusted with it, too.

Posted: 7/19/2008 6:02:26 PM EDT

[#11]

Quoted:
<snip>

It will also probably be the first currency printed in scientific notation.

DUDE! My poor monitor

Posted: 7/19/2008 6:15:59 PM EDT

[#12]

Quoted:
Printing more money will help.

That is exactly what they've been doing.

CJ

Posted: 7/19/2008 6:20:42 PM EDT

[#13]

It just occurred to me...

With maybe, $2,000 USD, with the exchange rate, and Zimbabwian inflation what it is, a person could probably buy the whole country of Zimbabwe.

Posted: 7/19/2008 6:28:16 PM EDT

[#14]

I have a 10,000,000 Mark note in my collection, and before the Weimar inflation, the Mark was worth around $5. The ironic thing is that this note is only printed *on one side*, to save money.

People cling to the old systems even after they become comically irrational.

Posted: 7/19/2008 7:12:56 PM EDT

[#15]

Boys, this is nothing new. Seen it many times before.

It won't be long now... the Army isn't getting paid. There will be a coup any minute now.

Mugabe will be shot or hung, the military will take over for a while and make it worse.

Time to get out the popcorn.

Posted: 7/19/2008 7:30:38 PM EDT

[#16]

For years, it has been illegal in Zimbabwe to hold foreign currency. While that law was ignored for practical reasons by much of the populace, it actually was enforced. Getting caught with USDs could be dangerous for them.

A revolution with Mugabe and about 15% of the population dead is what is needed to save that country.
All the whites that were chased off the farms are out of the country. It's going to be hard to get professional farmers to take the risks to come back. Even at their high point, farming probably wasn't as good of a life as those ex-patriots now have in Zambia, Australia or one of the high refuge countries.

So, high death toll, a decade of hard work, and they'll be back on track. I look forward to seeing them come around, it's a beautiful country.

Posted: 9/21/2008 1:16:57 AM EDT

[#17]

Bump. I just wanted to brag that I bought a 500 Million Dollar banknote for 5 bucks at the western union here on base.

They probably made a helluva profit off it too

Posted: 9/21/2008 3:55:38 AM EDT

[#18]

Ol Whitey kicked off the farm and there's no one to grow the crops. Is it too lazy or too stupid or what? Little wonder why they're starving but at least their millionaires.

Posted: 9/27/2008 4:55:30 PM EDT

[#19]

There's a lesson for US here, if we're willing to listen to it.

The .fed's bailout of the insurance and loan industries is essentially a "print more money an distribute it to these schmucks" band-aid. It will almost certainly cause some devaluation of our currency. The dollar will weaken because of it. But then again, a full-blown
depression would be even worse.

Money woes can not be solved by printing more. They are much better solved by managing
money in a more practical and responsible manner. And speculators are possibly the worst
enemy that our money supply has to contend with, in my opinion. They drive up paper
value (or destroy it) without affecting work output on the part of the associated organization. And it doesn't take a genius to know that there's a problem if the
paper value of a company or organization is substantially different from its actual
valuation of goods, services, assets, and debts. Speculators are likely the prime
cause of such disconnects between perceived and actual value.

CJ

Posted: 9/27/2008 5:05:07 PM EDT

[#20]

What are the chances that the Paulson Plan really just needs $700 Billion of Zimbabwe currency to get us on track?

Posted: 9/27/2008 5:41:18 PM EDT

[#21]

Why don't they just revalue? Say 100,000,000,000 old Z dollars = $1 new Z dollar. Then they could start all over again!

Posted: 9/27/2008 5:43:40 PM EDT

[#22]

Quoted:

Reserve Bank officials told IRIN that plans to print about Zim$60 trillion (about US$592.9 million) were briefly delayed after the government failed to secure foreign currency to buy ink and special paper for printing money.

Send them some inkjet printers, a few reams of white copy paper, and some paper cutters.

heck, it sounds like letting people just print up their own money at home might help them...

Posted: 9/27/2008 5:48:24 PM EDT

[#23]

Quoted:

Quoted:

do a search of gd for china, there's a thread about how they're moving into africa in a big way

In the end, they'll probably get disgusted with it, too.

China, at least, won't give two shits about world cries of "Racism!". They could back a coup, topple Mugabe, install a government that will do what they say, and then send troops to "maintain order during the transition". One of the things those troops could do would be to "seize strategically valuable farmland help by guerillas and terrorists" so that people who knew how the hell to run a farm could.

Posted: 9/27/2008 5:58:04 PM EDT

[#24]

wow, this is crazy to say the least

Posted: 9/27/2008 6:04:51 PM EDT

[#25]

I wish that would happen here for a short time, a loaf of bread would be like a couple of million bucks so of course my job (if I still had it) would have to pay me about a billion a week so I could live. I could work one day and then pay off the 86k I owe on my house. Hyperinflation would be a great way to get out of debt

Posted: 9/27/2008 10:29:03 PM EDT

[#26]

Quoted:
Hyperinflation would be a great way to get out of debt

...and that's why we have constant inflation. How else does the government have a prayer of meeting their financial obligations?

[ARCHIVED THREAD] - Zimbabwe Introduces $100 Billion Banknotes (Page 2 of 2)

General » General Discussion

Warning

Confirm Action

About AR15.COM

Stay Connected

Newsletter

Contact Us