Posts Tagged ‘Zimbabwe’

Zimbabwean 100 trillion dollar bill

January 17, 2009

Can it get any more absurd, other than 2200 people dying of (the alleged) epidemic of cholera, a perfectly preventable and treatable disease? Unfortunately, I can’t locate a photo of it. The Z$100,000,000,000,000 bill is worth maybe US$33 on the street, as of when the referred posting was made. This currency converter says as of right now that US$1 is worth Z$16,574,420., surely an underestimate. BTW The libertarian Cato Institute estimates Zimbabwe’s inflation rate to be 89.7 sextillion percent. How many zeros is that? How long before the 10 sextillion dollar bill comes out?

Lessons in not being able to parody real life sometimes. I don’t think this image is of actual legal Zimbabwean tender, but it is from a parody posted in late 2007. Quaint nowadays. Now, this is really quaint. 

Meanwhile, dig this statement by the head of Zimbabwe’s Central Bank currently posted on the homepage of his website:

this Statement comes at a

time when the ugly heads of indiscipline,

corruption, fraudulent activities and underhand

manipulation of our money and capital markets

have reached epic proportions that are

threatening to wipe the face of our economy.

Is he talking about Zimbabwe or the US? Have to think for second. 

Further down the document dig this dollar amount:

Between the 10th and the 20th of November,

2008, total fraudulent cheques we intercepted in

the clearing system had risen to $60 hexillion

($60,000,000,000,000,000,000,000)…

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New multi-million Zimbabwean dollar bills

December 12, 2008

The art has changed on the bills. Some rock formation (Great Zimbabwe ruins?) is now on the 100 million dollar bill. Today, another 500 million dollar bill was introduced, as well as a 200 million dollar bill. According to the linked article, that 50o million dollars is worth about $2.50 US. Inflation was last pegged at 231 million percent, but now it’s off the scale.

Meanwhile hundreds die from cholera. Mugabe says one day that there’s no cholera in his country, then says that it was planted by the nasty British to try to soften up Zimbabwe for a joint US-British attack (not Israel too, why not??) First things first, we have to pull out of Iraq, win in Afghanistan, then Iran, then Venezuela, then after all that, then Zimbabwe.

Now if Mugabe needs to prepare for war with the UK and the US, he’ll have maybe 10 years to prepare given the priorities I outlines. Till then, he has to mobilize his army. He’ll need weapons, small arms to start with. He can go to Somalia and pick up all the Kalashinkovs he’ll need for around $150 US apiece. That would be, at the going rate of 50 cents US per $100 million Zimbabwean, $30,000,000,000 Zimbabwean per rifle. If there are any survivors left after HIV and cholera in 10 years, that is.

Zimbabwe dollar to be redenominated

July 30, 2008

Apparently the spectre of bread costing Z$250 billion, the government will be dropping ten (10) zeros off of the currency.  That’s 10,000,000,000. So that loaf of bread will now cost Z$25. As of yesterday a single US dollar was going from anywhere from Z$110 billion to Z$500 billion (quite a range, those particular currency dealers must not be on the same street). It’s nice to be a dictator, where you can arbitrary wash that inflation right out of your hair, however much Mugabe has left. Mugabe says that if things keep getting worse with the Z-dollar, then ’emergency measures’ will be needed. How much more emergency can things get there?

For those who purchased your bills on EBay you better hurry to redeem your bills because I would assume the old bills will be pulled from circulation, except for the report that Zimbabwe was running out of paper to print bills on.

Zimbabwe should just post all its currency on Ebay

July 23, 2008

The official exchange rate for Zimbabwe dollars is (July 23, 2008) is 1 US Dollar = 33,288,144,660 Zimbabwe Dollars, but according to this story a UK pound is trading for $1.4 trillion Zimbabwe dollars.

However today on Ebay a $100 billion Zimbabwean note (real?) has a bid price of 40 GBP (practically $80 US) and a number of bidders for 12 available bills.  Clearly Zimbabwean currency is worth a lot more than the usual channels!

Zimbabwean 500,000,000 dollar bill photo

July 17, 2008

Inflation has hit 2.2 million percent in Mugabeland, AKA Zimbabwe, as admitted by the government. Here’s a photo of a man holding some Zimbabwean $500 million bills. And another. There’s actually a 50 billion dollar bill too, haven’t seen a photo of it.

Things are so bad the country is running out of paper to print money on. The German supplier of bank note paper has cut off Mugabe off. If Mugabe can’t keep printing money, he can’t pay the outrageous salaries (trillions of dollars) that prop him up. The United States government, Queen Elizabeth stripping him of his honorary knighthood and his domestic political opposition haven’t been able to oust him. The surrounding African leaders refuse to try to oust him. So it’s up to a German paper maker to do it.

Inflation hell that a US child of the 70s wouldn’t even recognize:

The impact on consumers of the inflation juggernaut is now such that prices of basic goods like bread, when available, go up by 30-40 percent per day.

For example, the price of a loaf of bread on Monday which stood at 60 billion Zimbabwe dollars — one US dollar at the then black market rate but 400 according to the official exchange — had risen to 100 billion little more than 24 hours later.

A three-star hotel in the capital has been hiking its room rates by around 300 percent every three days and in the latest round of increases, rates shot up from around four trillion dollars to 10 trillion.

At a black market rate of 1 US dollar == 100 billion ZImbabwean dollars, A hotel room in Harare would still be $100 US. Not bad I guess.

LA Times:The price of the state-owned Herald newspaper has leaped from 200,000 Zimbabwean dollars early this month to 25 billion now. Before the crunch, a beer at a bar in Harare, the capital, cost 15 billion Zimbabwean dollars. At 5 p.m. July 4, it cost 100 billion ($4 at the time) in the same bar.

An hour later, the price had gone up to 150 billion ($6).

And you’re worried about the price of gas??

Followup on Oracle: Thankfully Oracle doesn’t price its products in Zimbabwean dollars. Maybe then companies would have to be even more accepting of open source databases.