Author Topic: Zimbabwe Revalues Currency  (Read 3586 times)

HankB

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Zimbabwe Revalues Currency
« on: July 31, 2008, 05:16:16 AM »
Zimbabwe just chopped 10 zeros off their currency, so 10 billion dollars becomes one dollar. A couple of years ago, they chopped three zeros off, so their currency is actually worth about one ten-trillionth of what it was worth a few years ago.

Their largest banknotes - most recently, Z$100,000,000,000 - were not quite enough to purchase a single loaf of bread in Harare (If you could FIND a loaf of bread to purchase!) and ATMs and cash registers were not set up to deal with transactions of hundreds of billions (or even trillions) of dollars, so they had to address the issue.

Obviously, it's a problem created by George Bush, Queen Elizabeth, Tony Blair, and various other sundry white devils.  rolleyes
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El Tejon

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Re: Zimbabwe Revalues Currency
« Reply #1 on: July 31, 2008, 05:36:21 AM »
Have they blamed Ian Smith yet? grin
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wmenorr67

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Re: Zimbabwe Revalues Currency
« Reply #2 on: July 31, 2008, 05:38:14 AM »
They haven't met fistful. laugh
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HankB

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Re: Zimbabwe Revalues Currency
« Reply #3 on: July 31, 2008, 05:46:27 AM »
Have they blamed Ian Smith yet? grin
He's one of the ". . . sundry white devils."
Trump won in 2016. Democrats haven't been so offended since Republicans came along and freed their slaves.
Sometimes I wonder if the world is being run by smart people who are putting us on, or by imbeciles who really mean it. - Mark Twain
Government is a broker in pillage, and every election is a sort of advance auction in stolen goods. - H.L. Mencken
Patriotism is supporting your country all the time, and your government when it deserves it. - Mark Twain

El Tejon

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Re: Zimbabwe Revalues Currency
« Reply #4 on: July 31, 2008, 06:43:43 AM »
You White Devils!

White Devil Police=> police
I do not smoke pot, wear Wookie suits, live in my mom's basement, collect unemployment checks or eat Cheetoes, therefore I am not a Ron Paul voter.

yesitsloaded

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Re: Zimbabwe Revalues Currency
« Reply #5 on: July 31, 2008, 06:59:13 AM »
So if the money isn't worth the paper it is printed on are you not losing money for every bill you print? Wouldn't it have been better just to burn some of the old money and tighten up the money supply, thus raising the value of the money? Or is this some African economic nonsensical retardedness.
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alex_trebek

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Re: Zimbabwe Revalues Currency
« Reply #6 on: July 31, 2008, 07:32:33 AM »
So if the money isn't worth the paper it is printed on are you not losing money for every bill you print? Wouldn't it have been better just to burn some of the old money and tighten up the money supply, thus raising the value of the money? Or is this some African economic nonsensical retardedness.

Careful there.....  Ever wonder why no one counterfeits the $1 bill?  It costs more than $1 to print, even the fake ones IIRC.  Also our government likes to create more money when it is convenient....

Regolith

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Re: Zimbabwe Revalues Currency
« Reply #7 on: July 31, 2008, 08:37:45 AM »
So if the money isn't worth the paper it is printed on are you not losing money for every bill you print? Wouldn't it have been better just to burn some of the old money and tighten up the money supply, thus raising the value of the money? Or is this some African economic nonsensical retardedness.

Careful there.....  Ever wonder why no one counterfeits the $1 bill?  It costs more than $1 to print, even the fake ones IIRC.  Also our government likes to create more money when it is convenient....

Actually, no.  There's a pretty large profit margin on dollar bills. 

Now, it does currently cost more to make a penny than they're worth.  The mint is currently considering going to cheaper metals like steel in order to save money.
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Scout26

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Re: Zimbabwe Revalues Currency
« Reply #8 on: July 31, 2008, 05:40:37 PM »
Say Hello to the Obama fiscal and economic plan !!!


(Not to mention the 80%+ unemployment rate in Zimbabwe).


And yes, El Tejon is correct, It's all the white man's fault....especially the one they call Fistful...
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Antibubba

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Re: Zimbabwe Revalues Currency
« Reply #9 on: July 31, 2008, 10:20:50 PM »
I'll have to see if my bank can get me a few billion Zimbabwe $$.
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The Annoyed Man

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Re: Zimbabwe Revalues Currency
« Reply #10 on: August 01, 2008, 03:09:46 PM »
I'll have to see if my bank can get me a few billion Zimbabwe $$.
Check eBay. I've seen those bills for sale there.