The plight of Zimbabwe

Discussion in 'The Intelligence Cell' started by Blogg, Jul 24, 2008.

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  1. Saw this pic. today of the new Zim. banknote and what it bought, on Monday at least.

    Takes real talent to manage to screw things up so badly.
  2. Fcukin'ell! I thought the price of petrol was bad, but this really takes the biscuit :wink:
  3. I've just done a quick search and this article suggests that Zimbabwe's government are considering making Z$100 billion the monthly minimum wage. Its clearly not going to go very far.

    When that article was written (03/06/2008), Z$7.5 billion was worth $1 US and the average wage in Zim was Z$6 billion. Now 7(ish) weeks later its more than halved in value - Z$18.6 billion to $1 US ( currency conversion).

    I assume that if the above trend continues, by mid September, the monthly minimum wage (if it has been implemented) will buy you one and a half eggs. The June minimum wage would buy you 1/6th of an egg.
  4. You should try getting petrol in Zim!
  5. Dr Evil... Austin Powers' archnemesis would be impressed... "ONE HUNDRED BILLION DOLLARS! .....Sh*t, is that all it gets??"

    Comes to something when Monopoly money IS in fact worth more....
  6. Wow, and i thought the US dollar was kinda bad :p
  7. They're going to have to have 2 pieces for one bank note soon to hold all the zeros!
  8. in_the_cheapseats

    in_the_cheapseats LE Moderator

    Find said note on ebay going for £35 a go with 8 days left. An investment for someone with a return of 1000% so far...........

    Smart move
  9. IIRC, the company that supplies the paper the Zim banknotes are printed on has stopped selling to Zimbabwe.
  10. Yeah the German one, apparently they let it be known at the start of this month that they were stopping. Now whether they finally saw the light, the pressure from people telling them that they shouldn't be dealing with the Zimbabwean govbernment or Zimbabwe just can't pay the bills any longer due to shortages of hard currency I couldn't say. But when you think that Zimbabwean central bank is running their printing presses twenty-four hours a day, seven days a week churning out banknotes to try and keep up and still had to import half of what they needed from the German company and that they've now stopped, it isn't good news for them. Best guess they probably get someone like the Chinese to take over from the Germans but whilst they're sorting things out there's still going to be window where they're critically short of bank notes.