Don framed this for his office and wasn't able to post the photo. Personally, I think he should hang it in the bathroom in case he runs low on the Charmin.

quote:

The Associated PressPublished: March 5, 2008

HARARE, Zimbabwe: The Zimbabwe currency tumbled to a record low of 25 million for a single U.S. dollar Wednesday, currency dealers said.

With Zimbabwe dollars mostly available in bundles of 100,000 and 200,000 notes, one US$100 note bought nearly 20 kilograms (40 pounds) of local notes at the new market rate Wednesday.

And this is excluding the zero's that were dropped!

What would be really tough is handing over that C note for a wheelbarrow of Zim money. That's a bad day.

Looks like you are going to have one heck of a collection until its all said and done!



And at the current 41 million to 1 USD, these bills are worth way more as collector items then currency. And actually, they are pretty good looking.

The $1000 Bearer Check from Aug 2006 is selling for $7.00 on www.banknotes.com - 142:1, aw the good old days!

Old Rhodesian currency, before and after UDI.
http://rhodesian.server101.com/Rhodesian%20Currency.htm

Don has .11 cents

quote:

Originally posted by Bill C:
And at the current 41 million to 1 USD, these bills are worth way more as collector items then currency. And actually, they are pretty good looking.

The $1000 Bearer Check from Aug 2006 is selling for $7.00 on www.banknotes.com - 142:1, aw the good old days!

And I was going to complain that thas was a waste of a nice wooden frame, but maybe not then

quote:

Originally posted by SGraves155:
Old Rhodesian currency, before and after UDI.
http://rhodesian.server101.com/Rhodesian%20Currency.htm

I think post-UDI they put that picture of the Queen on their notes just to piss Her off.

Sure, there are shortages of the big bills but I still don't know why someone doesn't sell Zim money at the hunting shows.

I'd pay $20US for Don's Zim$10,000,000 note (reported above as officially worth $0.40US in Zimbabwe at 25,000,000 to 1), for example, and I'm widely known for being a cheapskate.

Is it illegal under Zimbabwe or U.S. law?

Bill Quimby

A zim $100,000 note was raffeled at the Namibian AGM- Raised N$1600 (US$200). Our Government takes rather a dim view of such activities though, and I wouldn't be inclined to try it off the Zimbabwe stand at SCI!

I have wondered what has happened to the money as it devalues so quickly. What happened to all of the smaller bills? They literally are worth nothing as money.

They would make interesting wallpaper....

And the glue would cost more than the paper

They said on our local radio station that the zim dollars to the value of one USD is about 20kg

exchange rate to the US$ today is

Official 30.000:1
Cash for cash 27, 000,000:1
Transfer 40,000,000:1

New legislation makes it an offence to have more than 500 mill zim cash on you at any one time- ie US$12.50!!!

The reason for the disparity between the cash and transfer rate is because of the shortage of local cash.

Business Day

14 March 2008

Evan Pickworth

I-Net Bridge

AS ZIMBABWE faces up to the pain and ridicule of cumulative hyperinflation
of 3,5-million percent since 1998, a leading world economist, Steve Hanke,
suggests a rather controversial solution: get rid of their central bank.

Hanke, a previous economic adviser to Ronald Reagan and now professor of
applied economics at the prestigious Johns Hopkins Uni-versity, has
published a report, Zimbabwe: Hyperinflation to growth, in which he explains
his observations and solutions to the mess.

He draws parallels between the Zimbabwean hyperinflation and the plot
followed by the German mark during the great German hyperinflation of the
1920s. This leads him to say that "worse is yet to come".

He says the root cause of hyperinflation is that government policies have
forced the Reserve Bank of Zimbabwe (RBZ), headed by Gideon Gono, to print
money.

"From January 2005 to May 2007, the RBZ issued currency at a rate that even
exceeded that of Germany's central bank from January 1921 to May 1923, the
ramp-up phase of the great German hyperinflation," he said.

He says that replacing the central bank with a new monetary regime is
therefore the best way to stop hyperinflation as it signals a "clean break"
with the practices that have created hyperinflation.

"It would give Zimbabweans reliable assurances that inflation will
henceforth be controlled."

Hanke acknowledges that while countries such as Angola and Mozambique have
checked inflation in the hundreds of thousands of percent a year by changing
policies and yet retaining central banks, he feels it is far too late in the
day for Zimbabwe.

"Given the current state of affairs in Zimbabwe and the dramatic
hyperinflation, the only way for Zimbabwe to make a credible commitment to
stop the hyperinflation rapidly and avoid high transition costs is to
replace central banking with a different type of monetary regime."

Three options exist: official "dollarisation", adopt free banking; and
introduce a currency board.

"None of these options requires preconditions prior to their implementation
and any one of them would establish stability and restore economic growth,"
Hanke says.

He points out that Panama, Ecuador and El Salvador are no less sovereign
after adopting the dollar.

"Estonia, Lithuania, Bulgaria and Bosnia and Herzegovina are no less
sovereign for having currency board or currency board-like systems."

Consider also Montenegro. "It became an independent sovereign state in 2006
largely because it replaced the Yugoslav dinar with the German mark (now
euro) in 1999.

"Using the euro enabled Montenegro to break loose from the bad economic
policies undertaken at the time by Serbia, its much larger partner in the
Federal Republic of Yugoslavia.

"The effect of dollar-isation or a currency board is not to create a
colonial relationship, but to achieve more credibility than a local central
bank can," he says. In Zimbabwe, official dollarisation could take the form
of using the rand, US dollar or the euro.

"If Zimbabwe uses the rand it could negotiate a profit-sharing agreement
such as Lesotho and Namibia now have." SA shares the profit it derives from
issuing currency according to estimates of how many rand notes and coins are
in circulation in the partner country.