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Honored Advisor

Exchange your Zimbabwean Dollars before they become worthless.

You have until September 30th to exchange Zimbabwean dollars, for every $175 Quadrillion Zimbabwe dollars you can get 5 US Dollars.

 

http://www.bloomberg.com/news/articles/2015-06-11/zimbabwe-officially-removes-local-currency-from-ci...

 

 

Or another way to look at it, I supose is the Zimbabwe government is exchanging 5 US Dollars for every  175 Quadrillion Zimbabwean dollars  Smiley Very Happy   ...it`s all relative

 

When we strat talking in the Quadrillions, all of a sudden the US national debt of $18 Trillion doesn`t seem so insurmountable. 

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6 Replies
Veteran Advisor

Re: Exchange your Zimbabwean Dollars before they become worthless.

$40,000 for a family car...$1200 per ounce for gold...$10,000 per acre for prime agland.....all are showing that the dollar is buying less ....$60 per barrel oil and $3 per bushel corn not withstanding.

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Honored Advisor

Re: Exchange your Zimbabwean Dollars before they become worthless.

If Zim could only index their currency to the life expectancy of political opponents the currency would stabilize...

 

Really makes me proud that the brain trust in Zimbabwe chose the US dollar out of all the other world currencies.  That's a real vote of confidence....... Smiley Happy

 

 

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Honored Advisor

Re: Exchange your Zimbabwean Dollars before they become worthless.

Do you remember the old SNL skit with " Jimmuh and Amuh Carter".. " Infkation is our friend"?
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Veteran Advisor

Re: Exchange your Zimbabwean Dollars before they become worthless.

Why is it such a crisis when the   $$  devalues folks started cussing - when it increases they fret also as commodity prices relax - interesting ---Seems the anology of the market gossips should be in print next to the magazine rack at the check out counter -?-- 

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Honored Advisor

Re: Exchange your Zimbabwean Dollars before they become worthless.

My friend from Zim tells me that a a bundle of Zim million dollar bills weighing 1-2 lbs taken to the grocery will buy what you need and no one will count it.  Just stack it in the corner.  And on your way out the door you can start picking up Zim bills, they are the primary litter on the streets.  They only put ink on one side, if they use ink on both the sides of a $100 billion note, it costs more than it is worth...

It is where economies that destroy private economic activity, expand government, and borrow endlessly go to die......

I just think it is a dangerous addiction to flirt with....

 

Zim's have been using every other currency they can get for several years, they are not the only people that do not want Zim currency...  Since the US is printing currency in ever increasing amounts, they have a lot of access to the old used dollar.... 

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Honored Advisor

Re: Exchange your Zimbabwean Dollars before they become worthless.

What you are describing is a real world example of what I a, trying to understand right now, reading " The Death of Money". I admit I fell prey to the Project Phrophesy video,featuring its author, Jim Rickards, and had to know more.

Rickards is an interesting character, and it is wuite difficult to argue with his premise...that China and Russia are in cahoots to gut the US dollar. This is done by a number of means, many of which are clearly in motion today. I am sure the computer securoty breaches just announced, with exposure of US government employees, including CIA, is just another volley, a warning of what's to come.

The prodigious printing of dollars post-2008 has left our dollar very vulnerable. We jointly decided in our household last year not to continue waiting to see snything resembling a real interest rate, ever in our remaining lifetimes, on savings. That resulted in a fairly good investment i to cattle and new equipment to support them.

This book explains the constant tug o' war between the forces of onflation and deflation. It analyzes a lot of different world economic sectors, including the myth of the Chinese Miracle. Their social and economic policies have resulted in untold wealth, which Chinese in the know are investing and/ or laundering outside their own country as fast as they can...sound familiar?

We have decide to work hard, as always, but not worry so much about The Number, that amount of $$$ necessary to support ourselves in our dotage. If we own a few cows and some laying hens, we'll have the means to eat. If not, we have queue up with the rest, for soup.

The new warfare is cyber and economic, not so much with soldiers and weapons of mass destruction. Clearly, after this week's revelations...that China was in the government's systems for four months, unnoticed, we have been warned.