(RCSD) Zimbabwe Inflation Update

500 billion for one meal !

Commodity Online, India

2008-07-20 10:30:00

HARARE : No, this meal is not hosted
by Laxmi Mittal, Bill Gates or Warren
Buffet nor any other billionaires but the
poorest of the poor in Zimbabwe.

As the Central Bank in Zimbabwe introduced
a 100 billion note (Zimbabwean Dollars), to
counter its inflation, the meals have become pricier.

Now people in Zimbabwe are counting Zeros
that its president Robert Mugabe has
showered on them. Many of them cannot
count the number of zeros in their annual inflation
rate. Well, officially it is 2,200,000%.
(privately over ten million)

"I think guns are easier to handle than these
zeros," said a resident of Harare resident Thomas
Mabuki. The bread he used to buy last month for a
Z$10 bn is now costing ten times that.

"Window shopping here is out of question because
the shopkeeper may snatch the produce from you
and re-label it with a new price. The prices are
increasing with seconds and minutes not days and
months," Mabuki lamented.

Earlier this year, the Central Bank had introduced
a Z$10 million note, followed by Z$50 million. And
now there is no count of what notes should be
issued.(Latest note is $100 Billion)

To many, this may be a classic example of turning
one of the richest countries in Africa to the poorest
country by a person who was once equaled
with Nelson Mandela is mysterious to the outside
world, but for Mabuki, it is clear.

"Wealth, greed and power made him worthless. He
is not worth this loaf of bread I have with me," he
remarked.

Current parallel exchange rate is about $28 Billion per USD.
Current parallel exchange rate is about $400 Billion per USD.
Postal rates on the Zimpost website havent been updated,
so sending a letter overseas at under $2 billion would be
a bargain (half a cent)

http://www.zimpost.co.zw/postalrates.html

On Jul 21, 12:25*am, "Blair (TC)" wrote:
500 billion for one meal !

Commodity Online, India

2008-07-20 10:30:00

HARARE : No, this meal is not hosted
by Laxmi Mittal, Bill Gates or Warren
Buffet nor any other billionaires but the
poorest of the poor in Zimbabwe.

As the Central Bank in Zimbabwe introduced
a 100 billion note (Zimbabwean Dollars), to
counter its inflation, the meals have become pricier.

Now people in Zimbabwe are counting Zeros
that its president Robert Mugabe has
showered on them. Many of them cannot
count the number of zeros in their annual inflation
rate. Well, officially it is 2,200,000%.
(privately over ten million)

"I think guns are easier to handle than these
zeros," said a resident of Harare resident Thomas
Mabuki. The bread he used to buy last month for a
Z$10 bn is now costing ten times that.

"Window shopping here is out of question because
the shopkeeper may snatch the produce from you
and re-label it with a new price. The prices are
increasing with seconds and minutes not days and
months," Mabuki lamented.

Earlier this year, the Central Bank had introduced
a Z$10 million note, followed by Z$50 million. And
now there is no count of what notes should be
issued.(Latest note is $100 Billion)

To many, this may be a classic example of turning
one of the richest countries in Africa to the poorest
country by a person who was once equaled
with Nelson Mandela is mysterious to the outside
world, but for Mabuki, it is clear.

"Wealth, greed and power made him worthless. He
is not worth this loaf of bread I have with me," he
remarked.

Current parallel exchange rate is about $28 Billion per USD.
Current parallel exchange rate is about $400 Billion per USD.
Postal rates on the Zimpost website havent been updated,
so sending a letter overseas at under $2 billion would be
a bargain (half a cent)

http://www.zimpost.co.zw/postalrates.html

With all the zeros Zim stamps are now non-denominated.
Being the rates change so often I wonder if the stamps bought last
month are still good for postage this month.

Ralphael, the OLD one

On Jul 21, 7:19 am, Ralphael1 wrote:
On Jul 21, 12:25 am, "Blair (TC)" wrote:



500 billion for one meal !

Commodity Online, India

2008-07-20 10:30:00

HARARE : No, this meal is not hosted
by Laxmi Mittal, Bill Gates or Warren
Buffet nor any other billionaires but the
poorest of the poor in Zimbabwe.

As the Central Bank in Zimbabwe introduced
a 100 billion note (Zimbabwean Dollars), to
counter its inflation, the meals have become pricier.

Now people in Zimbabwe are counting Zeros
that its president Robert Mugabe has
showered on them. Many of them cannot
count the number of zeros in their annual inflation
rate. Well, officially it is 2,200,000%.
(privately over ten million)

"I think guns are easier to handle than these
zeros," said a resident of Harare resident Thomas
Mabuki. The bread he used to buy last month for a
Z$10 bn is now costing ten times that.

"Window shopping here is out of question because
the shopkeeper may snatch the produce from you
and re-label it with a new price. The prices are
increasing with seconds and minutes not days and
months," Mabuki lamented.

Earlier this year, the Central Bank had introduced
a Z$10 million note, followed by Z$50 million. And
now there is no count of what notes should be
issued.(Latest note is $100 Billion)

To many, this may be a classic example of turning
one of the richest countries in Africa to the poorest
country by a person who was once equaled
with Nelson Mandela is mysterious to the outside
world, but for Mabuki, it is clear.

"Wealth, greed and power made him worthless. He
is not worth this loaf of bread I have with me," he
remarked.

Current parallel exchange rate is about $28 Billion per USD.
Current parallel exchange rate is about $400 Billion per USD.
Postal rates on the Zimpost website havent been updated,
so sending a letter overseas at under $2 billion would be
a bargain (half a cent)

http://www.zimpost.co.zw/postalrates.html

With all the zeros Zim stamps are now non-denominated.
Being the rates change so often I wonder if the stamps bought last
month are still good for postage this month.

Ralphael, the OLD one


Yes. Even ones bought last year are.

Blair

"Blair (TC)" wrote in message
...
snip for brevity

Current parallel exchange rate is about $28 Billion per USD.
Current parallel exchange rate is about $400 Billion per USD.
Postal rates on the Zimpost website havent been updated,
so sending a letter overseas at under $2 billion would be
a bargain (half a cent)

http://www.zimpost.co.zw/postalrates.html

I suppose that the official exchange rate is about $28 Billion per USD, and
the parallel (black market) exchange rate is about $400 Billion per USD.

Therefore for a letter upto 10g sent to Europe, that should be franked with
a Z$ 1.4bn stamp, one has to pay in Zimbabwe something between 0.3 and 5 US
cents.

Could be an idea for the mass mailers, even if the envelope & the letter
paper will probably cost them more then the franking ;-)

--
Victor Manta

----------------------------------------------------------------------------
Philatelic Webmasters Organization: http://pwmo.org/
Art on Stamps: http://artonstamps.org/
Romania by Stamps: http://marci-postale.com/
Communism on Stamps: http://reds-on.postalstamps.biz/
Spanish North Africa: http://www.sna-on.postalstamps.biz/
----------------------------------------------------------------------------

Blair (TC) wrote:
On Jul 21, 7:19 am, Ralphael1 wrote:
On Jul 21, 12:25 am, "Blair (TC)" wrote:



500 billion for one meal !
Commodity Online, India
2008-07-20 10:30:00
HARARE : No, this meal is not hosted
by Laxmi Mittal, Bill Gates or Warren
Buffet nor any other billionaires but the
poorest of the poor in Zimbabwe.
As the Central Bank in Zimbabwe introduced
a 100 billion note (Zimbabwean Dollars), to
counter its inflation, the meals have become pricier.
Now people in Zimbabwe are counting Zeros
that its president Robert Mugabe has
showered on them. Many of them cannot
count the number of zeros in their annual inflation
rate. Well, officially it is 2,200,000%.
(privately over ten million)
"I think guns are easier to handle than these
zeros," said a resident of Harare resident Thomas
Mabuki. The bread he used to buy last month for a
Z$10 bn is now costing ten times that.
"Window shopping here is out of question because
the shopkeeper may snatch the produce from you
and re-label it with a new price. The prices are
increasing with seconds and minutes not days and
months," Mabuki lamented.
Earlier this year, the Central Bank had introduced
a Z$10 million note, followed by Z$50 million. And
now there is no count of what notes should be
issued.(Latest note is $100 Billion)
To many, this may be a classic example of turning
one of the richest countries in Africa to the poorest
country by a person who was once equaled
with Nelson Mandela is mysterious to the outside
world, but for Mabuki, it is clear.
"Wealth, greed and power made him worthless. He
is not worth this loaf of bread I have with me," he
remarked.
Current parallel exchange rate is about $28 Billion per USD.
Current parallel exchange rate is about $400 Billion per USD.
Postal rates on the Zimpost website havent been updated,
so sending a letter overseas at under $2 billion would be
a bargain (half a cent)
http://www.zimpost.co.zw/postalrates.html
With all the zeros Zim stamps are now non-denominated.
Being the rates change so often I wonder if the stamps bought last
month are still good for postage this month.

Ralphael, the OLD one


Yes. Even ones bought last year are.

I observed several months ago that they use 'forever' stamps.

--
___________________________________________ ____ _______________
Regards, | |\ ____
| | | | |\
Michael G. Koerner May they | | | | | | rise again!
Appleton, Wisconsin USA | | | | | |
___________________________________________ | | | | | | _______________

Victor Manta wrote:
"Blair (TC)" wrote in message
...
snip for brevity
Current parallel exchange rate is about $28 Billion per USD.
Current parallel exchange rate is about $400 Billion per USD.
Postal rates on the Zimpost website havent been updated,
so sending a letter overseas at under $2 billion would be
a bargain (half a cent)

http://www.zimpost.co.zw/postalrates.html

I suppose that the official exchange rate is about $28 Billion per USD, and
the parallel (black market) exchange rate is about $400 Billion per USD.

Therefore for a letter upto 10g sent to Europe, that should be franked with
a Z$ 1.4bn stamp, one has to pay in Zimbabwe something between 0.3 and 5 US
cents.

Could be an idea for the mass mailers, even if the envelope & the letter
paper will probably cost them more then the franking ;-)

Well, as of this typing (13h27 CDT on Monday, 2008-07-21), it is now
Z$5.027^11 = USA$1.00.

--
___________________________________________ ____ _______________
Regards, | |\ ____
| | | | |\
Michael G. Koerner May they | | | | | | rise again!
Appleton, Wisconsin USA | | | | | |
___________________________________________ | | | | | | _______________

Michael G. Koerner wrote:
Victor Manta wrote:
"Blair (TC)" wrote in message
...
snip for brevity
Current parallel exchange rate is about $28 Billion per USD.
Current parallel exchange rate is about $400 Billion per USD.
Postal rates on the Zimpost website havent been updated,
so sending a letter overseas at under $2 billion would be
a bargain (half a cent)

http://www.zimpost.co.zw/postalrates.html

I suppose that the official exchange rate is about $28 Billion per
USD, and the parallel (black market) exchange rate is about $400
Billion per USD.

Therefore for a letter upto 10g sent to Europe, that should be franked
with a Z$ 1.4bn stamp, one has to pay in Zimbabwe something between
0.3 and 5 US cents.

Could be an idea for the mass mailers, even if the envelope & the
letter paper will probably cost them more then the franking ;-)

Well, as of this typing (13h27 CDT on Monday, 2008-07-21), it is now
Z$5.027^11 = USA$1.00.

(oops, I forgot the source link)

http://www.zimbabweanequities.com

--
___________________________________________ ____ _______________
Regards, | |\ ____
| | | | |\
Michael G. Koerner May they | | | | | | rise again!
Appleton, Wisconsin USA | | | | | |
___________________________________________ | | | | | | _______________

"Michael G. Koerner" wrote in message
...
Michael G. Koerner wrote:
Victor Manta wrote:
"Blair (TC)" wrote in message
...
snip for brevity
Current parallel exchange rate is about $28 Billion per USD.
Current parallel exchange rate is about $400 Billion per USD.
Postal rates on the Zimpost website havent been updated,
so sending a letter overseas at under $2 billion would be
a bargain (half a cent)

http://www.zimpost.co.zw/postalrates.html

I suppose that the official exchange rate is about $28 Billion per USD,
and the parallel (black market) exchange rate is about $400 Billion per
USD.

Therefore for a letter upto 10g sent to Europe, that should be franked
with a Z$ 1.4bn stamp, one has to pay in Zimbabwe something between 0.3
and 5 US cents.

Could be an idea for the mass mailers, even if the envelope & the
letter paper will probably cost them more then the franking ;-)

Well, as of this typing (13h27 CDT on Monday, 2008-07-21), it is now
Z$5.027^11 = USA$1.00.

(oops, I forgot the source link)

http://www.zimbabweanequities.com

This reminds me the Hungarian ado (or tax) pengo of 1946. 1 ap = 5 * 10**18
pengos.

Don't know the exchange rate of the ap to the $ but for Hungary in 1946 this
wasn't relevant anymore.

--
Victor Manta

----------------------------------------------------------------------------
Philatelic Webmasters Organization: http://pwmo.org/
Art on Stamps: http://artonstamps.org/
Romania by Stamps: http://marci-postale.com/
Communism on Stamps: http://reds-on.postalstamps.biz/
Spanish North Africa: http://www.sna-on.postalstamps.biz/
----------------------------------------------------------------------------

On Jul 21, 2:28*pm, "Michael G. Koerner" wrote:
Michael G. Koerner wrote:
Victor Manta wrote:
"Blair (TC)" wrote in message
....
snip for brevity
Current parallel exchange rate is about $28 Billion per USD.
Current parallel exchange rate is about $400 Billion per USD.
Postal rates on the Zimpost website havent been updated,
so sending a letter overseas at under $2 billion would be
a bargain (half a cent)

http://www.zimpost.co.zw/postalrates.html

I suppose that the official exchange rate is about $28 Billion per
USD, and the parallel (black market) exchange rate is about $400
Billion per USD.

Therefore for a letter upto 10g sent to Europe, that should be franked
with a Z$ 1.4bn stamp, one has to pay in Zimbabwe something between
0.3 and 5 US cents.

Could be an idea for the mass mailers, even if *the envelope & the
letter paper will probably cost them more then the franking *;-)

Well, as of this typing (13h27 CDT on Monday, 2008-07-21), it is now
Z$5.027^11 = USA$1.00.

(oops, I forgot the source link)

http://www.zimbabweanequities.com

--
___________________________________________ *____ * * * * * * *_______________
Regards, * * * * * * * * * * * * * * * * * *| * *|\ * *____
* * * * * * * * * * * * * * * * * * * * * * *| * *| | *| * *|\
Michael G. Koerner * * * * * * * May they * | * *| | *| * *| | * rise again!
Appleton, Wisconsin USA * * * * * * * * * * | * *| | *| * *| |
___________________________________________ | * *| | *| * *| | _______________- Hide quoted text -

- Show quoted text -

Does anyone care to make SWAG when the country will collapse?

Ralphael, the OLD one

"Blair (TC)" wrote in message
...
snip for brevity
Current parallel exchange rate is about $28 Billion per USD.
Current parallel exchange rate is about $400 Billion per USD.
Postal rates on the Zimpost website havent been updated,
so sending a letter overseas at under $2 billion would be
a bargain (half a cent)

http://www.zimpost.co.zw/postalrates.html


New monthly Wages for farm Workers today.....

All A2 workers are entitled to $396 billion (USD 1)
per month up from last month's $1.525 billion.

The highest earning Grade C2 workers will earn
$491 billion, up from last month's $1.89 billion.

Negotiations for the review of these wages will be held
to determine next month's wages. Most farm workers
were now opting to be given food hampers instead of
cash as the stipulated wages were no longer enough
to buy even one grocery item. - Harare Bureau.