NationStates Jolt Archive

Zimbabwe is facing a quite strange problem: while most of the population are trillionaires, they can not buy anything for their money -- because there are apparently too few lower-denomination banknotes:


Illegal foreign currency dealers at Ximex Mall in the city centre were yesterday selling US$1 for Z$10 trillion note or alternatively Z$2 trillion in Z$50 billion notes.

Some were willing to exchange Z$2 trillion in $50 billion notes for a $10 trillion note.

Shops in the city centre pegged most of their goods at a $10 trillion or $20 trillion to avoid change problems.

A 300ml bottle of soft drink was costing $10 trillion at Shen Yeng Restaurant along George Silundika Avenue. The same was being sold at US$0,50 at King Pie outlets.

Some unscrupulous commuter omnibus conductors were also taking advantage of the $10 trillion notes to fleece commuters.

They were not giving commuters any change after getting the notes.

Commuters with $50 billion notes, $10 billion notes and other smaller denominations were made to pay fares ranging between $700 billion and $1 trillion.

source: http://www.herald.co.zw/inside.aspx?sectid=354&cat=1 (no comment on my choice of reading material)

I do not know who said that Mugabe at least brought Money to Zimbabwe... can he now bring it in the right denominations?

And on a more serious note: What would you do against the Zimbabwean hyperinflation?

And on a more serious note: What would you do against the Zimbabwean hyperinflation?

I think I'm going to get one of those Z$10,000,000,000,000 notes to keep in my wallet for giggles.

Declare Bankruptcy and have a military coup.

To me this just shows that governments are good caretakers of the economy and should be trusted to intervene for the greater good.

Zimbabwe is facing a quite strange problem: while most of the population are trillionaires, they can not buy anything for their money -- because there are apparently too few lower-denomination banknotes:


source: http://www.herald.co.zw/inside.aspx?sectid=354&cat=1 (no comment on my choice of reading material)

I do not know who said that Mugabe at least brought Money to Zimbabwe... can he now bring it in the right denominations?

And on a more serious note: What would you do against the Zimbabwean hyperinflation?

I'd probably have fun with it by opening a taco stand that sells tacos for 1 Zimbabwean dollar. Exact change only. Then enjoy watching people twitch. ;)

I'd probably have fun with it by opening a taco stand that sells tacos for 1 Zimbabwean dollar. Exact change only. Then enjoy watching people twitch. ;)
You are an evil person ;)

I think I'm going to get one of those Z$10,000,000,000,000 notes to keep in my wallet for giggles.
Y, I want some too. Wonder where I could get them...



P.S. LG: WIN.

Y, I want some too. Wonder where I could get them...


Ebay, most likely!

The rate will be inflated :-(. As an amateur currency trader I can't force myself to buy for such a rate against all the instincts.

And on a more serious note: What would you do against the Zimbabwean hyperinflation?

Declare the South Korean Won the new currency, as it's much weaker than the US dollar (1200 won to the US dollar or somethign), yet in a surprisingly stable country.

Exact change only.
Now that's change we can believe in!

The rate will be inflated :-(. As an amateur currency trader I can't force myself to buy for such a rate against all the instincts.
Buy uncirculated notes and mentally classify the notes as collector items not as something you actually pay stuff with. ;)

last time i heard of this ,you need 50 million Zimbabwean dollars to get one US dollar

Now that's change we can believe in!

I bet those Zimbabweans would get their economic shit together for tacos. *nod*

I'd probably have fun with it by opening a taco stand that sells tacos for 1 Zimbabwean dollar. Exact change only. Then enjoy watching people twitch. ;)

Wow, I could get a trillion tacos then for like 1 American dollar. Never have to buy food again.

last time i heard of this ,you need 50 million Zimbabwean dollars to get one US dollar

You're out of the loop, then; currently it's 5 trillion ZWD to the USD.

Tommorrow, of course, the exchange rate will be even worse.

Wow, I could get a trillion tacos then for like 1 American dollar. Never have to buy food again.

You're gonna need an awful lot of freezers in your basement. :p

You're out of the loop, then; currently it's 5 trillion ZWD to the USD.

Tommorrow, of course, the exchange rate will be even worse.

well i don't need to worry if i need to carry more money to get one USD

last time i heard of this ,you need 50 million Zimbabwean dollars to get one US dollar
All exchange rates change by the minute, but Zimbabwean changes HARD by the hour.


Buy uncirculated notes and mentally classify the notes as collector items not as something you actually pay stuff with.
That would take all the fun out of it. They have to be real.

Hmm, though, if I can get a bank to sell me those... I think I could then resell them as souvenirs.
TBH, I think Zimbabwe could boost their economy by selling their notes abroad. Imagine the ad, "Become a trillionaire!". If say 10 million people buy them around the world, 1-5 notes for $2-$10 each, that's at least USD 100 million for Zimbabwe. And for a country with GDP of USD 2 billion, that's quite a lot.

You're gonna need an awful lot of freezers in your basement. :p

*Looks outside at the vast winter landscape* The world is my freezer. It also doubles as my beer fridge.

All exchange rates change by the minute, but Zimbabwean changes HARD by the hour. .

it's no wonder they have to do This (http://yeinjee.com/discovery/wp-content/uploads/2008/03/zimbabwe-cash-inflation.jpg)

it's no wonder they have to do This (http://yeinjee.com/discovery/wp-content/uploads/2008/03/zimbabwe-cash-inflation.jpg)
This guy seems to be lucky though as we won't have to pay for a bus ticket with a $10tn note.

I'd probably have fun with it by opening a taco stand that sells tacos for 1 Zimbabwean dollar. Exact change only. Then enjoy watching people twitch. ;)

And then you'll be bought to the tune of 50 billion tacos, forced to close shop, and then watch as the buyer sells tacos at 50 billion Zimbabwean dollars a piece. Heck, I'd probably do it, so I can be the only person on the planet to claim a 5000,000,000% profit on the first day of business, be declared an economic guru, get offered massive payments as a CEO of some major blue chip company where I'll putter around for a while before getting a golden parachute worth several hundred million USD once I'm done.

And when people ask me how I got to the top of the ladder, I'll tell them "It all began with a single dollar."

Zimbabwe is facing a quite strange problem: while most of the population are trillionaires, they can not buy anything for their money -- because there are apparently too few lower-denomination banknotes...


[marx mode]Trillionaires? They're all kapitali$ts![/marx mode]

And on a more serious note: What would you do against the Zimbabwean hyperinflation?
Nothing.
The real issue is: who has interest in keeping Zimbabwe in ruins?

wiki: zimbabwe

Mineral exports, agriculture, and tourism are the main foreign currency earners of Zimbabwe.[74] The mining sector remains very lucrative, with some of the world's largest platinum reserves being mined by Anglo-American and Impala Platinum.[75] Zimbabwe is the biggest trading partner of South Africa on the continent.[76]
That is, South Africa favours trade with Zimbabwe over trade with any other African country. Nu-nu-nu...

wiki: economy of Zimbabwe

The country has reserves of metallurgical-grade chromite. Other commercial mineral deposits include coal, asbestos, copper, nickel, gold, platinum and iron ore.

Main export partners South Africa 36.4%, (China, Japan, Zambia) 7.3% each, Mozambique 4.7%, (US, Botswana, Italy, Germany, Netherlands) 3.6% each (2006)
Main import partners South Africa 43%, China 4.6%, Botswana 3.3% (2005)
In July 2005 Zimbabwe was reported to be appealing to the South African government for US$1 billion of emergency loans, but despite regular rumours that the idea was being discussed no financial support has been obtained from South Africa.

wiki: platinum in africa

South Africa - World's leading platinum producer.
Anglo American Platinum Company - Anglo Platinum - Anglo American plc
Impala Platinum - Implats
Lonplats
Aquarius Platinum


I guess that there is a country, which traditionally bases its economy on ores, who has all the interest to keep Zimbabwe ultra-poor. Guess which one...

Declare Bankruptcy and have a military coup.
Well the second half might have been achieved already...

http://www.timesonline.co.uk/tol/news/world/africa/article4092858.ece

And then you'll be bought to the tune of 50 billion tacos,
A shop has the right to refuse service to anyone for any reason, or, especially, for no reason at all.

Although demanding exact change for the exact number of tacos available would work too.

Can we PLEASE kill Mugabe?

I guess that there is a country, which traditionally bases its economy on ores, who has all the interest to keep Zimbabwe ultra-poor. Guess which one...

There is one country that looses most money in loss of trade, and has to deal with vast numbers of refugees from Zimbabwe. Guess which one...

What they should do, is introduce notes in denominations of, say, 1, 5 and 10 zillion dollars, and then leave it to the population to determine what they think a zillion actually is. :D

Wouldn't lift a finger to help a single Zimbabwean until the disapporpriated white farmers are restored to their land, and Mugabe is out of office.

Wouldn't lift a finger to help a single Zimbabwean until the disapporpriated white farmers are restored to their land, and Mugabe is out of office.
Even though the ordinary people are, for the most part, mostly without blame for the actions of their awful government?

It is rather sad that a nation's problems can be reduced to a collector's item, but you get the sense that that's what's happening in Zimbabwe and its currency.

A shop has the right to refuse service to anyone for any reason, or, especially, for no reason at all.

Although demanding exact change for the exact number of tacos available would work too.

Not a problem. Zimbabwe has 50 billion dollar notes. And depending on what country you're in, no, you don't get the right to refuse service for any reason you can think up.

Can we PLEASE kill Mugabe?
For the Zimbabweans, I also wish that he is replaced by someone capable, but I would love to keep him around, ruling a virtual Zimbabwe, fscking it up at will without endangering human lives. That way we all could have our laughs as well.

Maybe Mugabe needs a trillion dollar bullet inside of him.

Not that I'm suggesting anything...

Bring in a new currency, or use another country's currency with their permission to get trade going again.

Bring in a new currency, or use another country's currency with their permission to get trade going again.

It is actually considered right now:

The country’s central bank is reported to have recommended adopting the South African Rand as part of its formal currency, alongside the now valueless Zimbabwe dollar.


however:

The problem for Zimbabwe, as Mashakada pointed out, is that it has no control over the supply of Rands inside the country. He says even if the country were to join the Rand monetary union, that links countries like South Africa, Lesotho, Namibia and Swaziland, Zimbabwe’s economic problems have the potential to destabilize the Rand.


Source: http://www.swradioafrica.com/news220109/dollar220109.htm

For the Zimbabweans, I also wish that he is replaced by someone capable, but I would love to keep him around, ruling a virtual Zimbabwe, fscking it up at will without endangering human lives. That way we all could have our laughs as well.
I think if Zimbabwe was his NS nation, it would be classified as a Psychotic Dictatorship.

Not a problem. Zimbabwe has 50 billion dollar notes. And depending on what country you're in, no, you don't get the right to refuse service for any reason you can think up.

Your tacos wil be ready when you can bring in enough trucks to hold them all. :D

And on a more serious note: What would you do against the Zimbabwean hyperinflation?

Same thing I always say - Shoot Mugabe, as if ever there was a bollix needed shooting, its him.

Bit sad that thats the only solution open, but there ye go.

I don't actually think the elimination of Mugabe would solve anything. The clique around him would just keep going.

They should sell some of those here, Id like a 10 trillion Note...

Can we PLEASE kill Mugabe?
No. He's going to die of old age soon and we don't want ZANU-PF looking like the ones who got hard done-by when he does.

I don't actually think the elimination of Mugabe would solve anything. The clique around him would just keep going.

I agree, I mean, look what happened when we took out Saddam...

We have to let people sort out their own shit, the people of Zimbabwe need to rise for themselves....Now, Im not saying we couldnt support such a rising....just that Zimbabweans need to be the ones doing the rising...

I like the way TR did the Panamanians...If GW had only read up on that, lol...