Guests

It seems that officially the USD is now Zim's currency, at least for the forseeable future !!

Hope the USD does not start to crash (-:

Cheers, Peter (Officially now a trillionaire) Bill Gates eat your heart out ....




---------------------------

Published by the government of Zimbabwe

Zimbabwe: Banks Adopt U.S. Dollar As Base Currency - 9 June 2009

Harare — BANKS have successfully adopted the use of the United States dollar as the base currency for their systems.

The changeover which took effect from the beginning of the month relegating the Zimbabwean dollar, which has since independence been the base currency, to being the equivalence of foreign currency.

Zimbabwe dollar accounts were also converted to reflect the change in the currency base at a rate, which saw an equivalent of $6 quadrillion being converted at US$0,11.

Despite the adoption of multiple currencies at the beginning of February by the then Finance Minister, Senator Patrick Chinamasa in the 2009 National Budget, the local unit had continued to operate as the base currency.

However, this changed at the beginning of this month with the system change, which was initiated by the central bank.

What it now means is that all transactions in the country are based on US dollars and the local unit now functions like an external currency.

No shit!

What's the difference between Michelle and Mugabe?

Mugabe is better looking.

I guess this means a price increase on all mdse purchased in Zim. as it appears there is no USD denomination small enough to have a direct conversion for most items. If the above is corrret $6 + $0.11.

This probably means the Zim Gov't thinkds it now has available counterfeiting equipment that will fool the average Zimbabwe native.
However, if they do, it will be the old style $100's and $50's, which many folks there are reluctant to accept already.

quote:

What's the difference between Michelle and Mugabe?

Mugabe is better looking.

Out of left field....

Glad to see that our old friend Will has come out of the closet.
Good thing we have a "don't ask, don't tell" policy here on AR.
Peter.

quote:

Originally posted by Peter:

quote:

What's the difference between Michelle and Mugabe?

Mugabe is better looking.

Out of left field....

Glad to see that our old friend Will has come out of the closet.
Good thing we have a "don't ask, don't tell" policy here on AR.
Peter.

I agree with Will.
What's the difference between Obama and Mugabe?
Obama's economic plan has not started working yet.

I understand that the Zim's PM Morgan T will be meeting with Obama today ... Maybe Comrade Obama with his deep Africa roots will be kind enough to consider a NICE BAILOUT for Zim's, YES he can !!

Is it on the cards or does he insist Bob goes first ??

All the best to Zim's for the future

Cheers, Peter

You know what Bob says about Oboma's economic plan "IT looks a lot like mine".

and Bob is right!! and Obama's plan will work just about as well.

Could anyone from that part of the world send me a few billion or more of Zimbabwe currency? Proper compensation will be made!
Thank you-Jeff in Texas

And this morning on CNN it is reported that the US is going to send 73 Million in Aid to Zimbabwe. Must be they want to use our currency for everything now.

After viewing the video I am reasonably encouraged by the Obama/USA support being offered to Zim's. The 73 million pledged is (hopefully) going to the right sectors and we presume the USA will have some checks and balances to ensure this occurs.

I do believe that by dollarising their currency it has started the road to recovery which we all know will be long and require many many more millions/billions of money.

I would hope that (behind the scenes) the USA seeing it is handing out American taxpayers money that it will seek out the millions that have been stashed away in Mugabe and Gono's bank accounts aroung the world and return it to the country to compliment the donations which are forthcoming.

WE do live in hope for a brighter future in Zim's but there is still work to be done to ease Mugabe out of the rocking chair

The meeting on Video

Cheers, Peter

I hope our friend Mugabe hasn't hitched his cart to a dead horse.

With Obama's spending, the deficits will skyrocket. The dollar is in for a big fall.

It will be interesting to see when our US inflation rate will be right up there with Zims. Just let Obama loose and it will happen.

I have just returned from Zim and the absolute poverty and lack of infrastructure is most daunting. Not being a worldly traveler I found it most surpising that the "family" begins and ends with a "tribal village" with little to no marriages (no brothers and sisters, mothers and fathers, etc). So far I find no way to even begin to lift these people from the grips of hundreds of years of bush life. Do we really want to and even more do THEY want us to?

Just my $.02 on a subject that I find overwhelming from my first personal observation.