(RCSD) Zim Hyperinflation continues.

Ralphael1 wrote:
On Nov 3, 10:25 pm, "Blair (TC)" wrote:
Zimbabwe eyes high-value banknotes (again)

Reuters

Mon 3 Nov 2008, 7:37 GMT

HARARE (Reuters) - Zimbabwe will soon introduce higher denomination
banknotes, of up to one million Zimbabwean dollars, in a bid to ease
the
effects of hyperinflation, the country's central bank said on Monday.

The southern African country lopped 10 zeros off the currency on
August 1,
but it continues to lose value as inflation surges.

The government put inflation at 230 million percent for July, the
world's
highest, although the Washington-based Cato Institute foundation
estimates
it now at 10.2 quadrillion percent.

Currently, the highest denomination banknote is Z$50,000, not enough
to buy
a loaf of bread, and the central bank plans to introduce Z$100,000,
Z$500,000 and Z$1 million (about $8) banknotes in a bid to help
consumers
battling to make simple purchases.

Hello Blair...what about the 100 Billion Zimbabwe banknote in my
pocket? Issued 1 July 2008, expores 31 December 2008.

Zimbabwe revalued its money effective 2008-08-01 - Z$1E10 became Z$1 that day,
removing ten zeros. The exchange rate is already past that level again.

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

On Nov 4, 1:00*am, "Michael G. Koerner" wrote:
Blair (TC) wrote:

Zimbabwe eyes high-value banknotes (again)

Reuters

Mon 3 Nov 2008, 7:37 GMT

HARARE (Reuters) - Zimbabwe will soon introduce higher denomination
banknotes, of up to one million Zimbabwean dollars, in a bid to ease
the
effects of hyperinflation, the country's central bank said on Monday.

The southern African country lopped 10 zeros off the currency on
August 1,
but it continues to lose value as inflation surges.

The government put inflation at 230 million percent for July, the
world's
highest, although the Washington-based Cato Institute foundation
estimates
it now at 10.2 quadrillion percent.

Currently, the highest denomination banknote is Z$50,000, not enough
to buy
a loaf of bread, and the central bank plans to introduce Z$100,000,
Z$500,000 and Z$1 million (about $8) banknotes in a bid to help
consumers
battling to make simple purchases.

"In the measures underway, the Reserve Bank plans to introduce a
number of
new, higher denominations; review the cash withdrawal limits, as well
as
commence aggressive campaigns for increased usage of alternative means
of
payment," the central bank said in a statement.

Well, at Z$3.52E13 = USA$1 (Monday's rate), it'll take a truckload of those
Z$1M notes to buy anything, so they may as well be used as cooking fuel.

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



Unfortunately, they cannot buy food to cook.

Blair

On Nov 4, 8:11*am, Ralphael1 wrote:
On Nov 3, 10:25*pm, "Blair (TC)" wrote:

Zimbabwe eyes high-value banknotes (again)

Reuters

Mon 3 Nov 2008, 7:37 GMT

HARARE (Reuters) - Zimbabwe will soon introduce higher denomination
banknotes, of up to one million Zimbabwean dollars, in a bid to ease
the
effects of hyperinflation, the country's central bank said on Monday.

The southern African country lopped 10 zeros off the currency on
August 1,
but it continues to lose value as inflation surges.

The government put inflation at 230 million percent for July, the
world's
highest, although the Washington-based Cato Institute foundation
estimates
it now at 10.2 quadrillion percent.

Currently, the highest denomination banknote is Z$50,000, not enough
to buy
a loaf of bread, and the central bank plans to introduce Z$100,000,
Z$500,000 and Z$1 million (about $8) banknotes in a bid to help
consumers
battling to make simple purchases.

Hello Blair...what about the 100 Billion Zimbabwe banknote in my
pocket? Issued 1 July 2008, expores 31 December 2008.

Ralph


100,000 of those banknotes would give you US $6 today.

1,000 of those banknotes would give you US 6c today.

100 of those banknotes would give you US 0.600 cents today.

and 1 of those banknotes would give you US 0.006 cents today.

Blair

On Tue, 4 Nov 2008 13:46:07 -0800 (PST), "Blair (TC)"
wrote:

On Nov 4, 8:11*am, Ralphael1 wrote:
On Nov 3, 10:25*pm, "Blair (TC)" wrote:

Zimbabwe eyes high-value banknotes (again)

Reuters

Mon 3 Nov 2008, 7:37 GMT

HARARE (Reuters) - Zimbabwe will soon introduce higher denomination
banknotes, of up to one million Zimbabwean dollars, in a bid to ease
the
effects of hyperinflation, the country's central bank said on Monday.

The southern African country lopped 10 zeros off the currency on
August 1,
but it continues to lose value as inflation surges.

The government put inflation at 230 million percent for July, the
world's
highest, although the Washington-based Cato Institute foundation
estimates
it now at 10.2 quadrillion percent.

Currently, the highest denomination banknote is Z$50,000, not enough
to buy
a loaf of bread, and the central bank plans to introduce Z$100,000,
Z$500,000 and Z$1 million (about $8) banknotes in a bid to help
consumers
battling to make simple purchases.

Hello Blair...what about the 100 Billion Zimbabwe banknote in my
pocket? Issued 1 July 2008, expores 31 December 2008.

Ralph


100,000 of those banknotes would give you US $6 today.

1,000 of those banknotes would give you US 6c today.

100 of those banknotes would give you US 0.600 cents today.

and 1 of those banknotes would give you US 0.006 cents today.

Ouch - you'd need an armored car to get them to and from the store.

Per Tsvangirai's "commission" or "omission" of duties here, how many
weeks has it been? How many newcomers to office have had inflation
sort itself out within a month and stabilize?

On Tue, 04 Nov 2008 00:00:14 -0600, Michael G. Koerner wrote:

Well, at Z$3.52E13 = USA$1 (Monday's rate), it'll take a truckload of
those Z$1M notes to buy anything, so they may as well be used as cooking
fuel.

At this point, currency is absurd, right? Surely at least a marginally
efficient barter system has arisen out of necessity? I speak in utter
ignorance, not following the situation.

In California, those of my political stripes have been eagerly exploring
alternative economies, which we do expressly and intently, despite a
(more or less) functioning currency around us. Were the situation to be
more dire, these explorations would certainly accelerate and involve
people who participate for purposes other than experiment or protest.

I haven't been following this, but exchange of food, services, durable
goods, luxuries, etc. will spontaneously arise, I expect. Loaf of bread
equals how many boxes of matches? Fixing a roof equals how many kilos of
rice? Ten grams of tea equals what amount of silver? Surely the
market's hand is scribing answers.

--
Joshua H. McGee, Los Angeles, California, USA
Member: APS, ATA, ISWSC, AFDCS, MBPC, MCC, BPS
President: http://www.penguinstamps.org
Trade?: http://www.mcgees.org/stamp-offers/

On Tue, 04 Nov 2008 23:50:29 -0600, Joshua McGee
wrote:

On Tue, 04 Nov 2008 00:00:14 -0600, Michael G. Koerner wrote:

Well, at Z$3.52E13 = USA$1 (Monday's rate), it'll take a truckload of
those Z$1M notes to buy anything, so they may as well be used as cooking
fuel.

At this point, currency is absurd, right? Surely at least a marginally
efficient barter system has arisen out of necessity? I speak in utter
ignorance, not following the situation.

In California, those of my political stripes have been eagerly exploring
alternative economies, which we do expressly and intently, despite a
(more or less) functioning currency around us. Were the situation to be
more dire, these explorations would certainly accelerate and involve
people who participate for purposes other than experiment or protest.

I haven't been following this, but exchange of food, services, durable
goods, luxuries, etc. will spontaneously arise, I expect. Loaf of bread
equals how many boxes of matches? Fixing a roof equals how many kilos of
rice? Ten grams of tea equals what amount of silver? Surely the
market's hand is scribing answers.

No doubt many of the people have the barter system down to a science,
having used cowrie shells as currency as well as crops / animals.

The BIG lending agencies such as IMF and World Bank, amongst others,
could help with a bailout but why bail out Mugabe again? His was not
the only country / tin horn to get over on the system.

Eventually, something has to break through, but unfortunately, above
them there is strife. Below them, well, who knows...

On Nov 4, 4:51*pm, wrote:

Ouch - you'd need an armored car to get them to and from the store.



Well Tracy, they have done it again.

Chopped off 10 zeros in August and four months later,
they are issuing new Z$100 million (8 zeros) banknotes.

Blair

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

RBZ unveils new notes

http://www.herald.co.zw

Herald Reporter

THE Reserve of Bank of Zimbabwe has unveiled new $10 million, $50
million
and $100 million notes that go into circulation tomorrow.

The release of the new notes follows the recent review of cash
withdrawal
limits to $100 million and $50 million for individuals and company
account
holders per week respectively.

Some of the security features on the new notes include a colour shift
stripe
with RBZ on it, the Zimbabwe Bird colour shift on the front and a
see-through 10 000 000 on either side which are in perfect register on
the
$10 million note.

The see through 50 000 000 and 100 000 000 also appears on either side
of
the $50 million and $10 million notes respectively.

Before the recent increase the withdrawal limit for individual account
holders was $500 000 while companies were allowed to withdraw $1
million a
day.

The new family of notes join the $20 000, $50 000, $100 000, $500 000
and $1
million notes introduced during the course of the year.

The introduction of the new notes comes at a time when depositors have
been
spending hours in long queues at banking halls and ATMs to withdraw
cash.

RBZ Governor Dr Gideon Gono recently announced that the central bank
was
working to ensure workers have enough cash during the festive season.

On Wed, 3 Dec 2008 10:20:21 -0800 (PST), "Blair (TC)"
wrote:

On Nov 4, 4:51*pm, wrote:

Ouch - you'd need an armored car to get them to and from the store.



Well Tracy, they have done it again.

Chopped off 10 zeros in August and four months later,
they are issuing new Z$100 million (8 zeros) banknotes.


This is truly sad for those people. I wonder if they're simply trying
to go for the record to get public sympathy? It may work, but that
would be a shady tactic.

Maybe their government will go defunct. One can hope that Mugabe is
ousted. I am surprised that assassination attempts haven't been made,
except for retaliation by his cronies.




RBZ unveils new notes

http://www.herald.co.zw

Herald Reporter

THE Reserve of Bank of Zimbabwe has unveiled new $10 million, $50
million
and $100 million notes that go into circulation tomorrow.

The release of the new notes follows the recent review of cash
withdrawal
limits to $100 million and $50 million for individuals and company
account
holders per week respectively.

Some of the security features on the new notes include a colour shift
stripe
with RBZ on it, the Zimbabwe Bird colour shift on the front and a
see-through 10 000 000 on either side which are in perfect register on
the
$10 million note.

The see through 50 000 000 and 100 000 000 also appears on either side
of
the $50 million and $10 million notes respectively.

Before the recent increase the withdrawal limit for individual account
holders was $500 000 while companies were allowed to withdraw $1
million a
day.

The new family of notes join the $20 000, $50 000, $100 000, $500 000
and $1
million notes introduced during the course of the year.

The introduction of the new notes comes at a time when depositors have
been
spending hours in long queues at banking halls and ATMs to withdraw
cash.

RBZ Governor Dr Gideon Gono recently announced that the central bank
was
working to ensure workers have enough cash during the festive season.

wrote in message
...
On Wed, 3 Dec 2008 10:20:21 -0800 (PST), "Blair (TC)"
wrote:

On Nov 4, 4:51 pm, wrote:

Ouch - you'd need an armored car to get them to and from the store.



Well Tracy, they have done it again.

Chopped off 10 zeros in August and four months later,
they are issuing new Z$100 million (8 zeros) banknotes.


This is truly sad for those people. I wonder if they're simply trying
to go for the record to get public sympathy? It may work, but that
would be a shady tactic.

Maybe their government will go defunct. One can hope that Mugabe is
ousted. I am surprised that assassination attempts haven't been made,
except for retaliation by his cronies.

It belongs to a "successful" dictator be lucky too.

http://www.zimbabwetoday.co.uk/2007/...motorcade.html

--
Victor Manta

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On Nov 3, 10:25*pm, "Blair (TC)" wrote:
Zimbabwe eyes high-value banknotes (again)

Reuters

Mon 3 Nov 2008, 7:37 GMT

HARARE (Reuters) - Zimbabwe will soon introduce higher denomination
banknotes, of up to one million Zimbabwean dollars, in a bid to ease
the
effects of hyperinflation, the country's central bank said on Monday.

The southern African country lopped 10 zeros off the currency on
August 1,
but it continues to lose value as inflation surges.

The government put inflation at 230 million percent for July, the
world's
highest, although the Washington-based Cato Institute foundation
estimates
it now at 10.2 quadrillion percent.

Currently, the highest denomination banknote is Z$50,000, not enough
to buy
a loaf of bread, and the central bank plans to introduce Z$100,000,
Z$500,000 and Z$1 million (about $8) banknotes in a bid to help
consumers

Not true, I have a 100 BILLION banknote issued by the RESERVE BANK OF
ZIMBABWE, 1st July 2008, expires 31st December 2008.This is the only
maoney I can recall having an expiration date.

Ralphael, he OLD one