Oh Crap

http://www.news.com.au/story/0...html?from=public_rss

Funny money but a very sad story. My sympathies to all the PHs and their families in Zim.

How is this ever going to end? The people of Zim deserve so much better.

I have a $50,000,000,000 (that's 50 billion dollars) note issued in May, 2008, but that's the "old" funny money, before they took nine zeros off to make the new dollars. In September, 2008, it was worth 2/10 of a US cent.

The "new" dollars were worth 300 to the US dollar when I started my safari and 2,300 when I finished.

I suspect that most of the PHs are smart enough to get paid in US dollars and to keep them in another country.

I'm confused. Indy mentions a 50 Billion dollar note; I'm holding a 100 Billion dollar Zimbabwean "Special Agro-Cheque" issued on July 1, 2008 which is good for 24 more days.

If a new 100 Million dollar note is worth $14. What is my Agro-Cheque worth. I've been telling people, about a dime.

Kensco- Your 100 billion note is worth 10 new new dollars. So far the governmen t has droped 13 zero's off the currency.

the exchange rate today is 10 million new new dollars :1us if you want cash or 4 quadrillion new new dollars :1 us if you will take a cheque (Zim cash is in very short supply- banks don't have any).

so, If you go back to basic zim dollars and put all the Zero's back on, the cash for cash rate is 100,000,000,000,000,000,000: 1 US $

quote:

so, If you go back to basic zim dollars and put all the Zero's back on, the cash for cash rate is 100,000,000,000,000,000,000: 1 US $

How do you say that figure?

I've REALLY gotta get me some of those notes so I can send one to my ex wife and tell her I've finally made her a multi millionaire just like she always wanted!

Ganyana,

Does the newest new currency have any subdivisions, like cents? Or, shall I rather ask what is the smallest newest currency note printed?

Hang in there, the end must be near!

Andrew McLaren

quote:

Originally posted by David Hulme:

quote:

so, If you go back to basic zim dollars and put all the Zero's back on, the cash for cash rate is 100,000,000,000,000,000,000: 1 US $

How do you say that figure?

Easily in scientific notation: One times ten to the twenty!

But the dropping of thirteen "0" makes it easier even to say the exchange rate is: One US $ buys you one times ten to the seven of the newest Zim dollars. As soon as the financial sector learns of the scientific notation you will get prices quited in that notation: Like Beer 340 ml Z-brand only ten to the eight! Or Z$ 1x10E8.

My next question should probably be asked in the "Politics" section - but will be swmaped there by Obama-related postings - but what can a country like Zimbabwe do? I mean what are the options? Switch to US $ as the official currency? Adopt South African rand? If US $ become official money it should stop the price inflation? I mean if at the start a beer cost US $1, by the time 'inflation' pushes up the price to US $ 2, it will really start paying entrepeneurs to flood the country with beer bought at about US $ 1 in South Africa and so push down the price again. Will it stop the prices rising?

Common, get the ideas, and hair trigger sense of humor, going to help solve this serious problem.

In good hunting.

Andrew McLaren

Andrew,

I actually can't think of a joke about the Zim economy that can beat the joke of the Zim economy......... sorry buddy!

I can't see the SA or other neighbouring Governments being too happy about their currency being adopted over there in case it affected their exchange rates etc. (Not that I know squat about finance)

I'd guess they must have had a similar problem in Germany at the end of WWII. - What was the answer there?

All that said, as soon as Mad Bob pops his clogs or bugs out, the whole country is gonna be awash with all kinds of aid agencies etc and they'll be throwing all kinds of money around like it's going out of fashion.

Why doesn't Zim gov. just start exporting their money as toilet paper

at least they could claim a new industry is emerging--colorful toilet paper in a new "billfold" stackable size

quote:

Originally posted by quickshot:
Why doesn't Zim gov. just start exporting their money as toilet paper

at least they could claim a new industry is emerging--colorful toilet paper in a new "billfold" stackable size

Is Bob's portrait on any of these notes?

I was helping my wife with a school lesson plan concerning currency exchange a couple of months ago, and came across a web site that said Germany was no longer supplying Zim with paper to print their currency on as the paper was worth more than the bill it was turned into.

Don't remember the figure, but as I figured it, it took MANY large denomination bills to purchase a single sheet of 2-ply!

When I was in Zim in September, big purchases like a cup of coffee or the firearms entry fee at Vic Falls airport were made in US dollars. I saw Zim money being used to buy celery and the like at a market. Bigger purchases, like wives, are made in cows (one wife = five cows). Safari tips (obviously) were made in US dollars. I paid money in advance which was put in escrow in the USA and then sent out after the safari.

My $50,000,000,000 note is also a "special agro-cheque" and expires December 21, 2008. I told my PH I would like to get one and he gave me two for free.

I recently read that the official inflation rate is 211 million percent per year.

Geez, if the US gov't keeps bailing people out, we may have the same problem on our hands. At least I can pay off the mortgage with a weeks wages!!