• Sprott Money
    05/26/2016 - 05:58
    How many “emergency” “secret” meetings do the central planners around the world need to have before the citizens of the respective countries begin to fully understand and take notice that something...

Zimbabwe To Trade Diamonds For Gold As It Prepares To Launch Gold-Backed Currency

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Fri, 05/20/2011 - 11:32 | 1295557 brian0918
brian0918's picture

Gold and silver breaking north!

Fri, 05/20/2011 - 11:44 | 1295621 FEDbuster
FEDbuster's picture

What will my 10 trillion dollar Zimbabwe bank notes convert to in troy oz?  I would take $10,000,000,000,000 to one oz of gold all day long.

Fri, 05/20/2011 - 11:50 | 1295659 Attitude_Check
Attitude_Check's picture

HA I have a 100T Zim note!

Fri, 05/20/2011 - 12:32 | 1295833 TheTmfreak
TheTmfreak's picture

Probably will be a collector item someday worth far more fiat than its currently worth!

woooo

http://cgi.ebay.com/100-TRILLION-BILL-1-ZIMBABWE-DOLLAR-INFLATION-MONEY-/300557811429?pt=Paper_Money&hash=item45faa43ee5

 

Sat, 05/21/2011 - 06:29 | 1297856 Sudden Debt
Sudden Debt's picture

Maybe in the near future, those bills will be worth a 5 carat blood diamond!

WAW!

 

Fri, 05/20/2011 - 19:51 | 1297024 Nick Fecteau
Nick Fecteau's picture

Haha!  I ordered mine yesterday! 

Fri, 05/20/2011 - 12:21 | 1295674 Attitude_Check
Attitude_Check's picture

.

Fri, 05/20/2011 - 12:21 | 1295772 Attitude_Check
Attitude_Check's picture

.

Fri, 05/20/2011 - 11:48 | 1295623 TheTmfreak
TheTmfreak's picture

Holy shit! Hold onto ya butts.

Fri, 05/20/2011 - 12:09 | 1295653 Michael Victory
Michael Victory's picture

 

The fascination with Gold.

Touch it, smell it, kiss it, save it.

 

 

 

Fri, 05/20/2011 - 12:22 | 1295803 DocLogo
DocLogo's picture

So either "Al Queda" is discovered operating out of Zimbabwe or another "organic" people-power, Twitter revolution begins there.

Fri, 05/20/2011 - 17:22 | 1296809 FEDbuster
FEDbuster's picture

Gold backed currencies have already been classified as "weapons of mass destruction" by the FED.  Look for military action by NATO, IMF, World Bank, JP Morgan Foreclosure squads and anyone else the FED can get to attack the hostile rouge central bank.

Mon, 05/23/2011 - 10:25 | 1301743 dropdeadfed
dropdeadfed's picture

Exactly.  If not by force then some other kind of bullshit media fiction followed by sanctions and tariff package.

Fri, 05/20/2011 - 13:48 | 1296161 Aquiloaster
Aquiloaster's picture

Nah uh uh, you didn't say the magic word.

Nah uh uh, you didn't say the magic word.

Nah uh uh, you didn't say the magic word.

Nah uh uh, you didn't say the magic word.

Fri, 05/20/2011 - 14:31 | 1296318 tmosley
tmosley's picture

NICE reference.

Fri, 05/20/2011 - 12:45 | 1295874 redpill
redpill's picture

Ride, Sally, Ride!

Sat, 05/21/2011 - 04:04 | 1297802 Jalaluddin
Jalaluddin's picture

Zimbrazoo breaking south!

Fri, 05/20/2011 - 11:33 | 1295558 NOTW777
NOTW777's picture

is this why gold is popping

Fri, 05/20/2011 - 12:10 | 1295710 Arius
Arius's picture

some crazy goldbugs at Goldman getting ready for the rapture...

 

btw, never count out Gideon Gono...zimbabwe is turning out to be the rehersal case...

Fri, 05/20/2011 - 12:10 | 1295744 NOTW777
NOTW777's picture

seems like gold shorts are panicky.  it would not take much

my guess is that the side of the boat with dollar longs/short PMs is getting crowded

eur looks sick

Fri, 05/20/2011 - 12:15 | 1295765 Arius
Arius's picture

got to pay the piper at some point ...no more free rides...it couldnt happened to a nicer group of people!

Fri, 05/20/2011 - 12:49 | 1295892 ZapBranigan
ZapBranigan's picture

 

No, it's Laissez Faire Friday...manipulation efforts often wane whilst planning yachting events for the weekend.  Don't worry though, once they see that it has spiked, they will attempt a smack-down reigning-in Au below the psychological 1500 before the close.

 

Fri, 05/20/2011 - 11:34 | 1295565 Sophist Economicus
Sophist Economicus's picture

Gono for President!

Fri, 05/20/2011 - 11:55 | 1295684 buzzsaw99
buzzsaw99's picture

Gono is the scumbag who looted the country for years.

Fri, 05/20/2011 - 12:41 | 1295857 Sabibaby
Sabibaby's picture

Hey, I don't live in Zimbabwe but the leaders of my country do the same thing!

Fri, 05/20/2011 - 12:39 | 1295858 The Navigator
The Navigator's picture

Gono is our president and he's only been looting the country for 2.5 years.

Fri, 05/20/2011 - 11:37 | 1295567 Troy Ounce
Troy Ounce's picture

 

Great idea. Even when Mugabe is in charge. Accepted with a kiss on the mouth!

Fri, 05/20/2011 - 11:38 | 1295570 GoldenDragon
GoldenDragon's picture

I expect that if Zimbabwe actually makes such a move, NATO will need to invade for "humanitarian" reasons.

Fri, 05/20/2011 - 11:46 | 1295617 speconomist
speconomist's picture

How long do they have until the invasion happens?

This would be too much, after Sadam and Qaddafi.

Fri, 05/20/2011 - 13:07 | 1295960 DeadFred
DeadFred's picture

The trend line for invasions if sloping sharply downward. If you extrapolate from the early Afgahanistan/Iraq days through Libya on to Zimbabwe what do you get? Maybe a half dozen drunkards in a broken-down hummer armed with shotguns. I'm bearish on invasions, I think there's another plan to take down this threat. Bribery? Hotel maids?

Fri, 05/20/2011 - 11:39 | 1295576 SheepDog-One
SheepDog-One's picture

So then Zimbabwe is next to be bombed for 'humanitarian reasons'? Libya was last to be quietly moving to a gold backed currency.

Fri, 05/20/2011 - 18:01 | 1296878 Geoff-UK
Geoff-UK's picture

We are bombing Libya FOR THEIR OWN GOOD, you racist bastard.

Fri, 05/20/2011 - 18:45 | 1296929 Rodent Freikorps
Rodent Freikorps's picture

Zimbabwe is the former Brit colony known as Rhodesia.

Let them be the open oppressor again.

Hypocrisy needs sunshine these days.

Euros = hypocrites. Shout it to the world.

Fri, 05/20/2011 - 11:36 | 1295577 sabra1
sabra1's picture

time for another no fly zone, eh oBLAHma?

Fri, 05/20/2011 - 11:39 | 1295580 SheepDog-One
SheepDog-One's picture

Heh heh exactly.

Fri, 05/20/2011 - 11:39 | 1295591 falak pema
falak pema's picture

China play in Africa via Zimbabwe as stalking horse of the gold backed monetary standard. There you are, it is now showing its strategic face...

Fri, 05/20/2011 - 12:08 | 1295729 Arius
Arius's picture

here is their reply to the west for ignoring their candidate for the imf job...

Fri, 05/20/2011 - 13:07 | 1295982 falak pema
falak pema's picture

Have they thrown that towel in?

Fri, 05/20/2011 - 11:39 | 1295592 Vincent Vega
Vincent Vega's picture

I wonder if the US$ will be pegged to the new Zimbabwe$. <sarc of course>

Fri, 05/20/2011 - 11:42 | 1295593 LawsofPhysics
LawsofPhysics's picture

This will indeed be an interesting development to follow.

Fri, 05/20/2011 - 11:44 | 1295602 akak
akak's picture

Reuters-

"Clone of Osama Bin Laden recently discovered to be hiding in a compound in Harare, coincidentally adjacent to the residence of President Mugabe."

Fri, 05/20/2011 - 11:46 | 1295606 KlausK
KlausK's picture

OT, just out: Lots of transitoryness for Germany - food prices up 10%. As you know: If we do inflation over here, we do it Autobahn style.

Google says:
The Germans have to adjust to rising costs for food: dairies, slaughterhouses, roasters and other food producers raised their prices in April so sharply than it has been almost three years.

They rose by an average of 7.2 percent the previous month, the Federal Statistics Office said on Friday. "A stronger increase was most recently in August 2008, whereeight percent, " it said. The prices for butter and fruit and vegetable juices shot up bymore than a third up. Coffee cost 17.8 percent more meat (except poultry) 10.6percent more.

One reason for the steep upward trend in higher prices for agricultural commodities on world markets. Arabica coffee rose in price from the beginning to the end of Aprilby nearly a quarter, while corn cost almost 15 percent more.

 

http://de.reuters.com/article/economicsNews/idDEBEE74J0BK20110520

 

Fri, 05/20/2011 - 11:42 | 1295608 Id fight Gandhi
Id fight Gandhi's picture

The usual people have been exploiting them and other Africans for diamonds. Diamond while having value, even in industry, is a highly variable asset, hard to find buyers and subjective values. Gold much better store of wealth.

Fri, 05/20/2011 - 11:47 | 1295638 earnyermoney
earnyermoney's picture

Off your game. No where to go but down after 250+ junks.

Fri, 05/20/2011 - 11:57 | 1295679 akak
akak's picture

Your mentor, HarryWanger, was a better troll than you Hamy.

The trick lies in being less obviously transparent, and at least occasionally mixing in some truth with the half-truths and dissembling.

Fri, 05/20/2011 - 12:08 | 1295741 Arius
Arius's picture

you mean like mixing diamond, gold and some fiat currency...

Fri, 05/20/2011 - 12:13 | 1295760 spartan117
spartan117's picture

Another Cash for Gold shop opened up here in Pasadena, CA.  Just exactly who are they buying all that metal?

Fri, 05/20/2011 - 12:14 | 1295763 SheepDog-One
SheepDog-One's picture

'How far goldbugs have fallen'...I guess $20 below all time high is a great tragedy?

Fri, 05/20/2011 - 11:42 | 1295611 HelluvaEngineer
HelluvaEngineer's picture

Hmmm, trade for diamonds (which are plentiful and only valuable thanks to DeBeers cornering the market?)  No thanks.

Fri, 05/20/2011 - 11:55 | 1295689 reachsb
reachsb's picture

Don't forget that due to the world-wide mining boom (namely in precious metals), mining companies use diamond tipped drills to crush the ore. No other material has been useful for this purpose. And you have no idea what the replacement rates of these diamond tipped drills are because they only have a finite life. Kinda poetic if you ask me.

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