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2006-08-21 Africa Subsaharan

Zimbabweans scramble to offload old currency

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Posted by Fred 2006-08-21 00:05|| || Front Page|| [4 views since 2007-05-07] Top

#1 The Reserve Bank of Zimbabwe last month announced it was lopping three zeros off the Zimbabwe dollar in a move aimed at taming hyperinflation

oh that'll werk, especially since we're not bound by colonial rules anymore.

Posted by Bob 2006-08-21 00:33|| 2006-08-21 00:33|| Front Page Top

#2 What is not mentioned is, that with panic buying, comes higher prices.

There have been other drastic actions within the government. Perhaps what we are seeing here is a sort of campaign amongst the younger government officials within ZANU-PF; an effort to prove that one can lead both the party and this failing state.

Posted by Fordesque 2006-08-21 01:11|| 2006-08-21 01:11|| Front Page Top

#3 It is the soalist Dream!!

Posted by newc">newc 2006-08-21 01:14|| 2006-08-21 01:14|| Front Page Top

#4 How, exactly, does changing Z$1000 to Z$1 "tame hyperinflation"? Someone want to explain the economics of this one to me?

Posted by gromky 2006-08-21 01:41|| 2006-08-21 01:41|| Front Page Top

#5 "As in all situations in life, there will always be genuine cases that merit exceptional consideration. We will treat each case on the basis of ~~its own circumstances~~ how much they're willing to bribe us"

There - fixed that for ya', Mr. Gono~~rrhea~~.

Posted by Barbara Skolaut">Barbara Skolaut 2006-08-21 03:10|| http://ariellestjohndesigns.com/page/15bk1/Home_Page.html]">[http://ariellestjohndesigns.com/page/15bk1/Home_Page.html] 2006-08-21 03:10|| Front Page Top

#6 Simply whacking 3 zeros off the note won't do shit to stop inflation. It won't trade internationally at a higher rate, it will simply look and carry a little lighter in your pockets. Maybe you can use a smaller wheelbarrow to go to the bread store.

Posted by bigjim-ky 2006-08-21 07:06|| 2006-08-21 07:06|| Front Page Top

#7 Start smuggling in counterfeit French Francs and watch Bob lose his cool when it starts replacing his funny money in people's wallets.

Fiat money - it's worthless by definition. One of the few true lessons to come out of the Soviet State and it's centrally-managed "economy".

ALL HAIL THE NEW FIVE-YEAR PLAN!

Posted by mojo">mojo 2006-08-21 12:07|| 2006-08-21 12:07|| Front Page Top

#8 French francs would be hilarious, seeing as they were replaced by Euros almost 5 years ago. But no doubt they're still worth more than ZimBob dollars.

Posted by Ulating Glolurong5291 2006-08-21 17:55|| 2006-08-21 17:55|| Front Page Top

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