MacGyver
In Flanders Fields
Premium,ExMod 2003-05
join:2001-10-14
Orleans, ON | If you thought the economy was bad here....
Zimbabwe inflation at 2,200,000%
What a screwed up country that is. Their central bank (if you could call it that) is now issuing bank notes of ridiculous proportions. |
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AR
Premium,ExMod 2001-04
join:2000-09-21
Toronto, ON | Don't bother with Zimbab-whatever...just look at the US:
»www.money.cnn.com
Daily dose of depression there. |
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elwoodblues
join:2006-08-30
Toronto, ON
| reply to MacGyver
Greed , hard at work, as come back to bite everyone in the ass.
This has only begun, I saw a few quarterly reports in the paper today... losses.. losses..
Oh but the spin is ".. the loses are not as high as expected"
Nothing like turning a pigs ear into silk |
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capdjq
Citius, Altius, Fortius, Phelpsius.
Premium
join:2000-11-01
Vancouver
| The losses are already factored in the current Stock prices, of Companies ahead of the data release. The gains and losses come as no great shock to the stock market. They already forecast certain Companies quarterly reports and if it beats expectations then the stocks will rise.
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Despite the cost of living, have you noticed how it remains so popular? |
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Wolfie00
Premium
join:2005-03-12
| reply to MacGyver
said by MacGyver  :Zimbabwe inflation at 2,200,000%What a screwed up country that is. Their central bank (if you could call it that) is now issuing bank notes of ridiculous proportions. I gotta get me some of that currency while it lasts ... think of all the uses: you could frame it, you could leave it as a tip when the service was a little sub-par, you could go into your bank late on a Friday afternoon and try to deposit it..... 
According to CNN, real prices on the black market are even worse than the official inflation rate: "...laundry soap on the black market went up by 70 million percent, cooking oil by 60 million percent and sugar by 36 million percent".
Essentially there is no longer any concept of "money". According to the BBC article a Zimbabwean economist named Rejoice Ngwenya, who apparently has been studying the situation closely, declared it "not sustainable"!  (I'm sure he also described it as "really bad"!) I'm guessing that "Rejoice" came to this alarming conclusion when he found out that the $100,000,000,000 in his wallet was worth less than one Canadian loonie or U.S. dollar (literally true)! 
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"Until he extends his circle of compassion to include all living things, man will not himself find peace" -- Dr. Albert Schweitzer
"A dog is like a child who never grows old ... always there to love and be loved" -- Aaron Katcher
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pat_lc2000
join:2006-02-04
Ottawa, ON | reply to MacGyver
I really want some of that money...it would look great on the wall next to my New York Central stock. |
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Desi
Premium
join:2002-05-05
Kanata, ON
clubs:
| It would be cool to have a 500,000,000 Note and be able to say that it was at one point legal currency. I wonder how I can get one?
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The User formerly known as Desi StYlE |
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dirtyjeffer
fagetaboutit
Premium
join:2002-02-21
London, ON
 ·Rogers Hi-Speed
| reply to MacGyver
buy $20 worth of their money and put it in your safe for twenty years...then, when Mugabe is long dead and other people have turned the country around, their currency might be worth something. 
the ZWD used to be worth MORE than the USD, imagine if it could recover and you have billions in your safe!!
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Best Marketplace Ever: »www.cbc.ca/marketplace/speed_bumps/ |
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ManMachine
Musique non stop
Premium
join:2006-07-10
t2p-2j3
| reply to MacGyver
Notice his shirt |
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Desi
Premium
join:2002-05-05
Kanata, ON
clubs:
| reply to MacGyver
Zimbabwe's currency is now collectable, worth more on eBay then on the streets
»search.ebay.ca/search/search.dll···ch&fgtp=
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The User formerly known as Desi StYlE |
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Wolfie00
Premium
join:2005-03-12
| said by Desi :Zimbabwe's currency is now collectable, worth more on eBay then on the streets I'm tempted, but I can't find a good price on a whole wad of them. The cheap ones are just a couple of bills, and the bundles come to real money.
A lot of them are being sold out of African countries, which is a nice example of entrepreneurialism: the dude has a banknote for $500 million (which if you are reading this today is worth about half a cent, tomorrow maybe one-third of a cent!) and sells it on eBay for $20. That's 4,000 times face value!
This just gets better -- they don't only have huge denominations, but also this kind of thing -- now, this would be absolutely perfect to leave as a tip someplace where the service was pretty bad!
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"Until he extends his circle of compassion to include all living things, man will not himself find peace" -- Dr. Albert Schweitzer
"A dog is like a child who never grows old ... always there to love and be loved" -- Aaron Katcher
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Devanchya
Smile
Premium
join:2003-12-09
Pickering, ON | Read that note. It's an actual Cheque.
It's only good for 1 year.
Issued Aug 1, 2006. Expires July 31, 2007. |
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Wolfie00
Premium
join:2005-03-12
| That's right -- they are all like that, though. That's as real as it gets, down there in Zimbabwe! They also have some other weird stuff called "Agro-notes" which are something even more flaky!! Basically, none of it is worth the paper it's printed on, in terms of intrinsic value. |
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Krispy
Premium,VIP
join:2001-12-11
the stix
| reply to ManMachine
said by ManMachine :Notice his shirt Cool although it's actually quite common to see that in 3rd world countries. In addition to donations it's a regular practice for clothing manufacturers and/or promotional companies to, for example, pre-print two versions of t-shirts for the winner of the Stanley Cup prior to the actual game and then they ship the losing team's shirts off to 3rd world for tax credits and to ensure they don't hit the western markets.
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you can lead a horse to the water but you cannot make him drink...you can put a man through school but you cannot make him think --ben harper
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Mashiki
Balking The Enemy's Plans
join:2002-02-04
Woodstock, ON | reply to MacGyver
Actually reminds me of Germany pre-WWII. People used to do the same thing, wheelbarrows full of money to buy a loaf of bread, and use it for heating their homes.
Big surprise he's run the country into the ground however. |
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