Zimbabwe introduces 100-billion-dollar note

Hello

There is a photo from the link below showing the
Demand Note. I cannot imagine inflation that high.

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

FROM:
http://news.yahoo.com/s/afp/20080719...n_080719174524

Zimbabwe introduces 100-billion-dollar note

Sat Jul 19, 1:45 PM ET

HARARE (AFP) - Zimbabwe, grappling with a record 2.2 million percent
inflation, has introduced a new 100-billion-dollar bank note in a
bid to tackle rampant cash shortages, the central bank said Saturday.

The new note will go into circulation on Monday, the bank said in a
statement cited by state media, joining about half a dozen new
high denomination notes already issued this year.

In January, a 10-million-dollar note was issued, then a
50-million-dollar note in April. In May, notes for 100 million and
250 million dollars were issued, swiftly followed by those for five
billion, 25 billion and 50 billion.

The southern African nation, currently gripped by a post-election
crisis, has been ravaged by hyperinflation which shot up from
165,000 percent in February to 2.2 million in June.

Independent economists however believe the official inflation
figure is grossly understated, estimating it could be running
between 10 million and 15 million percent.

Zimbabwe's chronic economic crisis has left at least 80 percent
of the population living below the poverty threshold and mass
shortages of basic goods in shops.


...

On Sat, 19 Jul 2008 20:21:39 -0700, "Arizona Coin Collector"
wrote:

Hello

There is a photo from the link below showing the
Demand Note. I cannot imagine inflation that high.

You'd certainly have to spend your money quickly. Wait just a day or
two and your paycheck could be almost worthless.

"Arizona Coin Collector" wrote:

Zimbabwe, grappling with a record 2.2 million percent
inflation, has introduced a new 100-billion-dollar bank note in a
bid to tackle rampant cash shortages, the central bank said Saturday.

Note that these Bearer Cheques also have expiration dates,
in this case 2008-12-31. They will be worthless paper long
before then, or before the ink dries.

People count "money" in the Peoples Paradise of Zimbabwe by
weighing stacks of this junk.

The southern African nation, currently gripped by a
post-election crisis ...

That's not all it's gripped by. The culprit is the goon
at the top of the thugocracy, who is quickly becoming a
puppet of the Chinese (who lately built him a nice mansion).
The PLA will keep Mugabe around only so long as he is
useful. Their long term plans for that continent don't
really require his presence.

Independent economists however believe the official inflation
figure is grossly understated, estimating it could be running
between 10 million and 15 million percent.

Most of the currently active politicians everywhere have no
idea what inflation is (or understand it perfectly), and are
quite willing to repeat this experience almost anywhere.
A near-term US Admin, for example, might see it as a way to
"solve" the looming Social Security crisis.

Meanwhile, having a few of these bills on hand might be
worthwhile. Use them to remind people that:
a. this is not a joke, and
b. yes, it could happen anywhere, including here, given
a sufficiently corrupt admin and ignorant populace.

--
Regards, Bob Niland
http://www.access-one.com/rjn email4rjn AT yahoo DOT com
NOT speaking for any employer, client or Internet Service Provider.

In , on
07/20/2008
at 09:15 AM, rjn said:

Note that these Bearer Cheques also have expiration dates,
in this case 2008-12-31. They will be worthless paper long
before then, or before the ink dries.

I'm not so sure about that ... they seem to be bringing big bucks on eBay.
Ok, ok, certainly NOT billions of dollars, but as an extremely low priority,
I like to accumulate world banknotes (note that I didn't say "collect"
and I love old bills with large inflationary numbers on them. So I looked:

http://coins.shop.ebay.com/items/Pap...1QQ_sacatZ3411

Seems other do, too. I'll have to wait to see if any of these hit the
paper-money junk boxes next year, I guess

Worthless as currency, perhaps, but collectors are seeing some value in
them.

Nick

"Nick Knight" wrote:

... they seem to be bringing big bucks on eBay.

The prices are surprisingly high, and the denominations
appear to be about 6 months behind the presses.

This may reflect the physical danger of obtaining and
exporting this wallpaper.

The ever iffy Wiki notes that security features in RBZ
notes has been declining, and that their German printer
just quit. So who is printing these new $100Bs?

Top guesses include:
* People's Bank of China
* RBZ's own color laser printer

If you bought a counterfeit RBZ note on eBay,
how would you know?

--
Regards, Bob Niland
http://www.access-one.com/rjn email4rjn AT yahoo DOT com
NOT speaking for any employer, client or Internet Service Provider.

Zimbabwe introduces 100-billion-dollar note
Sat Jul 19, 1:45 PM ET
HARARE (AFP) - Zimbabwe, grappling with a record 2.2 million percent
inflation, has introduced a new 100-billion-dollar bank note in a
bid to tackle rampant cash shortages, the central bank said Saturday.

The southern African nation, currently gripped by a post-election
crisis, has been ravaged by hyperinflation which shot up from
165,000 percent in February to 2.2 million in June.

Independent economists however believe the official inflation
figure is grossly understated, estimating it could be running
between 10 million and 15 million percent.

Zimbabwe's chronic economic crisis has left at least 80 percent
of the population living below the poverty threshold and mass
shortages of basic goods in shops.


Of course there are developed countries, emerging market countries, and
frontier countries. Zimbabwe is a frontier country. But Zimbabwe was taken
over by a dictator and farm owners (former colonists) had farms taken away
from them. But major mining companies still operate in Zimbabwe but I
suppose the tension is high. And Zimbabwe is not representative of Africa as
Tanzania is a mining haven...

But the high inflation is difficult to understand except to say that people
hold gold or dollars or commodities and avoid the local currency.

But as an investor you can actually consider emerging market bonds. Why ?
Well the emerging market countries are a step above the frontier countries.
And several emerging market countries are stepping up to developed country
status...meaning that credit quality is improving. Also emerging market
bonds are government bonds.

Finally a portfolio of emerging market bonds pays a dividend of about 5.8% .
And the bonds are at a low buy-in point on a two year basis or at a shoulder
chart point on a five year basis. Take a look at ticker pcy...

Problems ? Well the emerging market countries are said to be hurt by a level
of inflation that is relatively normal. But the inflation is caused by the
commodity bubble while the emerging market countries themselves are often
commodity producers. So if inflation is high then the price they get for
commodites is high. If inflation drops then the price they get for
commodites drops. So they are both helped and hurt by both situations which
possibly is a balance. However in the past few days emerging bonds went up
as commodities went down.

Of course there are developed countries, emerging market countries, and
frontier countries. Zimbabwe is a frontier country. But Zimbabwe was taken
over by a dictator and farm owners (former colonists) had farms taken away
from them. But major mining companies still operate in Zimbabwe but I
suppose the tension is high. And Zimbabwe is not representative of Africa
as Tanzania is a mining haven...

But the high inflation is difficult to understand except to say that
people hold gold or dollars or commodities and avoid the local currency.

But as an investor you can actually consider emerging market bonds. Why ?
Well the emerging market countries are a step above the frontier
countries. And several emerging market countries are stepping up to
developed country status...meaning that credit quality is improving. Also
emerging market bonds are government bonds.

Finally a portfolio of emerging market bonds pays a dividend of about 5.8%
. And the bonds are at a low buy-in point on a two year basis or at a
shoulder chart point on a five year basis. Take a look at ticker pcy...

Problems ? Well the emerging market countries are said to be hurt by a
level of inflation that is relatively normal. But the inflation is caused
by the commodity bubble while the emerging market countries themselves are
often commodity producers. So if inflation is high then the price they get
for commodites is high. If inflation drops then the price they get for
commodites drops. So they are both helped and hurt by both situations
which possibly is a balance. However in the past few days emerging bonds
went up as commodities went down.

Oh I forgot to mention that emerging market bonds are denominated in
dollars...

On Jul 20, 8:08*pm, "A You" wrote:

But as an investor you can actually consider emerging market bonds. Why ?
.....
Finally a portfolio of emerging market bonds pays a dividend of about 5.8% .
And the bonds are at a low buy-in point on a two year basis or at a shoulder
chart point on a five year basis. Take a look at ticker pcy...

Problems ?
- Hide quoted text -

- Show quoted text -

Thanks for the tip. Its a bit off the topic of coins. Even so, I see
many other choices for good dollar denominated securities that pay
better than 5.8%.

In order to truly understand the situation, one has to realize what is
running the country. It is being run by black beasts who operate on
pure primal instint. When they have to go to the bathroom, they
simply squat and poop right in the street gutters and no toilet paper
along the street. How can they possibly correct the inflationary
crisis when they don't even know how to use logic? Their logic is
guided by pure animal instinct.......me hungry, me thirsty, me have to
****.

wrote in message
...

Their logic is
guided by pure animal instinct.......me hungry, me thirsty, me have to
****.

Sort of like "Me stupid, me ignorant, me have to post?"