New Currencies

Greetings fellow stampers:

I hope that you had a wonderful holiday season
and wish you all a New Year of health, happiness
and prosperity.

As a New Years present, here are some new
currencies for you to worry about. I assume
that new stamps will follow shortly.

1) Azerbaijan introduces a new currency, today.
The new Manat is effective January 1, 2006.
One (new) Manat (AZN) is equal to 5000 old Manats (AZM).

2) Mozambique redenominated its currency,
the metecal, (1,000 - 1) by taking three zero's
off effective January 1, 2006.

3) Expect a new currency from Zimbabwe this year.
It's not quite as bad as Germany in 1923 but it is
getting there.

Inflation was 385% in 2003, 624% in January 2004
and 502% in 2005. Depreciation of the Zim $
(Jan 2003 - Jan 2006) was = 99.935%

5 Pounds bought you Z$10 at independence, in 1980.
It now buys you about one million Zimbabwean Dollars.

It's no wonder that their postage rates rise almost daily.

I have virtually done a total rewrite of the Wikipedia page
on the Zimbabwe Dollar. You can see the details at:
http://en.wikipedia.org/wiki/Zimbabwean_dollar

Happy Holidays
Blair

"Blair (TC)" wrote in message
oups.com...
Greetings fellow stampers:

I hope that you had a wonderful holiday season
and wish you all a New Year of health, happiness
and prosperity.

snip for brevity

3) Expect a new currency from Zimbabwe this year.
It's not quite as bad as Germany in 1923 but it is
getting there.

Inflation was 385% in 2003, 624% in January 2004
and 502% in 2005. Depreciation of the Zim $
(Jan 2003 - Jan 2006) was = 99.935%

5 Pounds bought you Z$10 at independence, in 1980.
It now buys you about one million Zimbabwean Dollars.

It's no wonder that their postage rates rise almost daily.

I have virtually done a total rewrite of the Wikipedia page
on the Zimbabwe Dollar. You can see the details at:
http://en.wikipedia.org/wiki/Zimbabwean_dollar

Happy Holidays
Blair

I wish you a Happy New Year and a much better one to all Zimbabweans!

HARARE, Zimbabwe (UPI) -- Consumer prices for food in Zimbabwe rose more
than 1,000 percent this year, the BBC said Thursday.

http://news.monstersandcritics.com/b...s_1000_percent

The cause of inflation (government)

An analysis of the country's total rainfall endowments
since 1901(Figure 3) to the current season reflect a
clear downward trend which signals increased
susceptibility of the county's productive systems to the
vagrancies of droughts.

http://www.rbz.co.zw/inc/publication...20May%2005.pdf

The cause of inflation (economists)

Economist and financial consultant John Richards says government spending is
fueling the country's inflation. "Government spending in the year to
September increased by a thousand percent. When you spend a thousand
percent, you will likely get the same amount in inflation. ..."

Idem (UN)

The government of President Robert Mugabe said it bulldozed
hundreds-of-thousands of homes and small businesses as part of a campaign of
urban renewal. The United Nations called the program "disastrous."

http://www.voanews.com/english/2005-12-20-voa77.cfm

--
Victor Manta

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