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And Now, Even Zimbabwe Opines On The Emerging Market Crisis

Tyler Durden's picture





 

Courtesy of an epic liftathon in the USDJPY, concerns about the containment of the EM crisis seem to have abated for the time being, even though not only nothing has changed (just ask Argentina whose USD reserves are down to $28.5 billion from $30 billion two weeks ago), but the Fed just confirmed even less - $10 billion per month to be exact - hot money will be entering the frontier economies. However, behind the scenes things are rapidly changing fast. So fast, in fact, that even Zimbabwe, that paragon of currency stability, has opined on the EM drubbing. As AFP reports, Zimbabwe retailers, concerned about the rapid devaluation of the currency of their southern neighbor, South Africa's Rand, have now stopped accepting it entirely.

One would think Zimbabwe knows about failing currencies. But for now, all eyes on the USDJPY which is the only risk-setter that matters.

 


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Thu, 01/30/2014 - 10:37 | Link to Comment pragmatic hobo
pragmatic hobo's picture

that would be a perfect onion headline.

Thu, 01/30/2014 - 10:39 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

Zimbabwe retailers, concerned about the rapid devaluation of the currency of their southern neighbor, South Africa's Rand, have now stopped accepting it entirely.

They will, of course, still accept Krugerrands.

Thu, 01/30/2014 - 10:42 | Link to Comment LawsofPhysics
LawsofPhysics's picture

At this point, Zimbabwe has just as much credibility as anyone else.

Thu, 01/30/2014 - 10:43 | Link to Comment Sudden Debt
Sudden Debt's picture

To be honest, their currency goes for a nice price on Ebay you know :)

I have a framed set like maloney showed in his vids in my study

Thu, 01/30/2014 - 10:45 | Link to Comment WarriorClass
Thu, 01/30/2014 - 10:48 | Link to Comment THX 1178
THX 1178's picture

Zimbabwe knows a worthless currency when they see it.

Thu, 01/30/2014 - 10:56 | Link to Comment Pure Evil
Pure Evil's picture

If so, its a shame they still accept FRN's.

Thu, 01/30/2014 - 10:59 | Link to Comment THX 1178
THX 1178's picture

True, but they also know that if they spurned the USD/FRN they would be droned and invaded in half a jiff.

Thu, 01/30/2014 - 11:19 | Link to Comment SoilMyselfRotten
SoilMyselfRotten's picture

Waiting for the Weimar Street Journal to chime in...

Thu, 01/30/2014 - 11:21 | Link to Comment Pure Evil
Pure Evil's picture

Are you saying the Black Man in the White House would bomb his own people?

Thu, 01/30/2014 - 12:16 | Link to Comment Save_America1st
Save_America1st's picture

He oversaw the bombing of the Boston Marthon...that False Flag was so busted in 5 minutes it made o-bomb-ya's Marxist head spin.  They were so set on blaming patriots/conservatives, blah, blah, blah, etc. etc. etc...but the overwhelming photo evidence blew their fake story right outta the water and they had to go to the Plan "B" patsies w/ those brothers.

But that doesn't mean he's going to stop with Boston.  Each False Flag they learn better how to conduct another one.  They don't always go over well, and I think they realized that trying one in daylight in an area full of people and hundreds of cameras was a big mistake. 

Their next one will be at night and I think it will be a small, tactical nuke set off inside Detroit somewhere or some rural area where they can once again try to blame it on conservative patriots. 

The great thing about Boston was that it was such a epic failure that the term "False Flag" hit the main stream and woke a LOT of sheeple up.  Now nearly everyone knows what a False Flag event is and who perpetrates them (governments/military/etc.) against innocent people.

The narrative is going to be harder to spin, especially from these sociopathic, habitually lying, criminals in D.C.  But they're so arrogant and psychotic that they will still try try try again.

Thu, 01/30/2014 - 12:55 | Link to Comment Herd Redirectio...
Herd Redirection Committee's picture

Still bewildered by the whole 'Sandy Hook' debacle.  Kids dead, and yet, I have yet to see a single photo (call me a grim bastard) as evidence to the fact.

Thu, 01/30/2014 - 13:07 | Link to Comment Tall Tom
Tall Tom's picture

Of course it will be another Saudi Arabian Operation.

 

Prince Bandar claimed to Putin that he controls the Chetchen Terrorist Organizations. As the Tsarnev's were Chetchen you can bet that the Operation was sanctioned by the Saudis. (The US Government was complicit. Notice how fast that the Tsarnev's were identified and neutralized. What was not as widely reported was that a Saudi National was arrested and deported.

 

Then going back to the World Trade Center attacks on September 11, 2001, Fifteen of the Nineteen REPORTED Hijackers were Saudi Nationals.

 

While it is true that there is absolutely no video evidence that they ever boarded the airplanes and Gates are videotaped then one can be certain that it did not happen as reported. But the point is that Saudi Money was involved in that Op as well.

 

If any place needs to be an ocean of Nuclear Glass then Ground Zero needs to be located at the House of Saud.

 

All that it will take is one Strategic Nuke targeted appropriately.

Thu, 01/30/2014 - 13:55 | Link to Comment Rafferty
Rafferty's picture

"They don't always go over well, and I think they realized that trying one in daylight in an area full of people and hundreds of cameras was a big mistake."

Dunno.  Worked ok for 9/11.

Thu, 01/30/2014 - 14:00 | Link to Comment Tall Tom
Tall Tom's picture

Good point.

Thu, 01/30/2014 - 12:08 | Link to Comment Save_America1st
Save_America1st's picture

...and on a long enough timeline, the credibility rate of every Ponzi drops to zero...

Thu, 01/30/2014 - 10:46 | Link to Comment Stoploss
Stoploss's picture

This shit is gonna spread like wild fire.

All it ever has taken is 1.

We got three. So far..

Thu, 01/30/2014 - 10:57 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

Argentina, Venezuela, South Africa, Turkey, Ukraine, etc., etc., etc., etc...

Thu, 01/30/2014 - 11:05 | Link to Comment THX 1178
THX 1178's picture

Whats happening in venezuela?

Thu, 01/30/2014 - 11:15 | Link to Comment Clowns on Acid
Clowns on Acid's picture

What's happening under your rock ?

Thu, 01/30/2014 - 11:23 | Link to Comment THX 1178
THX 1178's picture

Miley cyrus is shaking her dinners again.

You?

Thu, 01/30/2014 - 11:24 | Link to Comment Dr. Engali
Dr. Engali's picture

 +1 LOL

Thu, 01/30/2014 - 10:56 | Link to Comment fonestar
fonestar's picture

That's nice, I will give you a couple satoshi for you Krugerrands in a few years.  They will go in the special prize box along with Zimbabwe Dollars and Alf memorabilia from eBay.

Thu, 01/30/2014 - 11:10 | Link to Comment BandGap
BandGap's picture

I gave you a +1 for not writing in the first person. As far as being able to tell the future, good luck.

Thu, 01/30/2014 - 13:30 | Link to Comment Tall Tom
Tall Tom's picture

fonestar wrote in the First Person tense in the previously referenced post.

I think that you may have inadvertently used the adverb, "not".

 

 

Thu, 01/30/2014 - 13:37 | Link to Comment Miffed Microbio...
Miffed Microbiologist's picture

Caught that as well. Or substitute first for third. However I chose not to reply so he could fix it at some point. ;-)

Miffed;-)

Thu, 01/30/2014 - 13:58 | Link to Comment Tall Tom
Tall Tom's picture

Oooops.

Thu, 01/30/2014 - 10:55 | Link to Comment Al Gorerhythm
Al Gorerhythm's picture

But who can possibly ever conemplate accepting the American Rand? You know of whom I speak, that Quisling in Libertarian clothing.

Thu, 01/30/2014 - 10:38 | Link to Comment One And Only
One And Only's picture

Isn't that where Obama is from? I know he's from some African hell hole, maybe Zimbabwe or the Sudan?

Eitherway Africa is a failed continent. If Africa just got wiped off the planet the Earth would be a better place. Only two things that come from Africa are hurricanes and welfare recipients.

Thu, 01/30/2014 - 10:39 | Link to Comment The_Ungrateful_Yid
The_Ungrateful_Yid's picture

Afreeka for afreekans.

Thu, 01/30/2014 - 10:48 | Link to Comment Dr. Engali
Dr. Engali's picture

Let me guess, we should turn the middle east into glass as well right?

Thu, 01/30/2014 - 11:02 | Link to Comment Pure Evil
Pure Evil's picture

Well, there is a lot sand over there. And glass is made from sand right?

Thu, 01/30/2014 - 13:42 | Link to Comment Tall Tom
Tall Tom's picture

Yeah. But there is not too much demand for Radioactive Glass. However if there was a demand for Radioactive Glass then that is a good place to manufacture it on a large scale.

 

It is about the laws of Supply and Demand. Why invest into something that lacks demand...like Foreclosed Houses...or US Treasury Bonds? That is why the Federal Reserve buys them up. Lack of Demand. And we know that the Fed is becoming insolvent if it is not already there.

 

Do you want to be insolvent like the Federal Reserve and NOT HAVE A PRINTING PRESS?

 

Then start a manufacturing firm that produces Radioactive Glass. You will end up insolvent.

 

It is just not a good business model.

Thu, 01/30/2014 - 13:36 | Link to Comment Tall Tom
Tall Tom's picture

I think that the House of Saud deserves that as they have attacked us on 9-11 and in the Boston Marathon..

 

Other than that I would trade with the Middle East, and with the African Continent.

 

Why bomb customers? It is not a good business model.

Thu, 01/30/2014 - 10:46 | Link to Comment Bearwagon
Bearwagon's picture

You obviously never asked yourself where the uranium for the first atomic bomb came from, did you?!  ;-)

Thu, 01/30/2014 - 15:00 | Link to Comment snr-moment
snr-moment's picture

True, but we have HUGE reserves in Virginia (Virginia won't let us touch it) and under Yellowstone (UN world heritage site, but I am sure we can get THAT status revoked)

Thu, 01/30/2014 - 11:02 | Link to Comment 15horses1donkey
15horses1donkey's picture

As you write that people like bill gates and bill nye are working.

http://goodmenproject.com/good-feed-blog/bill-nye-science-guy-dispels-my...

 

Thu, 01/30/2014 - 12:00 | Link to Comment pods
pods's picture

A lot of the shiny comes from Africa.

pods

Thu, 01/30/2014 - 13:59 | Link to Comment Rafferty
Rafferty's picture

"Only two things that come from Africa are hurricanes and welfare recipients."

That's most unfair.  What about AIDS, bush meat, cannibalism?

Thu, 01/30/2014 - 14:53 | Link to Comment wtf1369
wtf1369's picture

And killer bees....

Thu, 01/30/2014 - 15:03 | Link to Comment DontGive
DontGive's picture

Dats rayciss

Thu, 01/30/2014 - 10:38 | Link to Comment 401K of Dooom
401K of Dooom's picture

Ha ha ha ha, Zimbabwe is a opinion leader of economic conditions?  OMG the end is near!  ROLFMAO!!!!!!!

Thu, 01/30/2014 - 10:43 | Link to Comment agent default
agent default's picture

I don't see why not.  They are as good as any other central bank in monetary policy.  Probably better, they are way ahead of them.

Thu, 01/30/2014 - 11:12 | Link to Comment Pure Evil
Pure Evil's picture

I think the Italians could still teach them a lesson or two on inflating away a currency.

Thu, 01/30/2014 - 10:38 | Link to Comment youngman
youngman's picture

If you live in a glass house...dont be the first to throw stones...or something like that

Thu, 01/30/2014 - 10:48 | Link to Comment Bearwagon
Bearwagon's picture

If you live in a glass house - shit in the dark!

Thu, 01/30/2014 - 11:19 | Link to Comment Pure Evil
Pure Evil's picture

If you live in a glass house...........get nakid..........and give the neighbors a show they'll never forget.

Thu, 01/30/2014 - 13:47 | Link to Comment Tall Tom
Tall Tom's picture

Hmmm....Radioactive Glass...Glass Houses...Yeah. You are right.

 

There might be an opportunity.

Thu, 01/30/2014 - 10:40 | Link to Comment Sudden Debt
Sudden Debt's picture

yeah... take dollars... they rot less fast...

Thu, 01/30/2014 - 10:44 | Link to Comment Dr. Engali
Thu, 01/30/2014 - 10:46 | Link to Comment Spungo
Spungo's picture

"Let me guess, we should turn the middle east into glass as well?"

You can start with Saudi Arabia.

Thu, 01/30/2014 - 10:51 | Link to Comment Dr. Engali
Dr. Engali's picture

Ooorrrr... We can get the hell out of the middle east and let them settle it amongst themselves.

Thu, 01/30/2014 - 11:14 | Link to Comment Pure Evil
Pure Evil's picture

Blasphemy! Are you saying we should cut back on the Empire? Wait until Darth Sidious hears about this.

Thu, 01/30/2014 - 13:50 | Link to Comment Tall Tom
Tall Tom's picture

I agree with your sentiments. But the problem is that the Saudis attacked us on 9-11 and during the Boston Marathon.

 

Other than that I would TRADE with the rest....since we need their Oil.

Thu, 01/30/2014 - 15:04 | Link to Comment snr-moment
snr-moment's picture

same result

Thu, 01/30/2014 - 13:54 | Link to Comment Tall Tom
Tall Tom's picture

Just the House of Saud. The rest of them are Tax Cows like most of us here.

Thu, 01/30/2014 - 10:48 | Link to Comment alphamentalist
alphamentalist's picture

you know you currency sucks when even zimbabwe shuns it?

Thu, 01/30/2014 - 10:48 | Link to Comment buzzsaw99
buzzsaw99's picture

there can only be one. [/highlander]

Thu, 01/30/2014 - 10:49 | Link to Comment Agent P
Agent P's picture

It's not that I'm trying to doubt this, but a Tweet by someone who heard something about what's supposedly happening in parts of Zimbabwe doesn't exactly send shivers down my spine. 

Thu, 01/30/2014 - 11:13 | Link to Comment Tyler Durden
Tyler Durden's picture

AFP head reporter for Johannesburg: one of the few somewhat credible news services remaining.

Thu, 01/30/2014 - 13:41 | Link to Comment Agent P
Agent P's picture

I looked her up before I posted, so yeah, I'll agree it carries more credibility than some random Tweet.  Still, it seems a little subjective to me.  Now this Tweet from Ms. Njanji on the other hand....

 Jan 28

Farts from 90 cows in a German barn spark a methane gas explosion, damages the building, injures one cow

Thu, 01/30/2014 - 11:26 | Link to Comment Pure Evil
Pure Evil's picture

If that tweet didn't send shivers down your spine,

then, the question yet to be asked is?

Did Obama's SOTU address send a tingle up your leg?

If so, then Chris Matthews would like to set up a play date in an undisclosed location.

Thu, 01/30/2014 - 13:30 | Link to Comment Agent P
Agent P's picture

You're barking up the wrong tree.

Thu, 01/30/2014 - 10:55 | Link to Comment whatthecurtains
whatthecurtains's picture

Not only does Zimbabwe accept the Yuan, it's become their currency  http://www.bdlive.co.za/africa/africanbusiness/2014/01/30/zimbabwe-adopt...

Thu, 01/30/2014 - 10:59 | Link to Comment Jason T
Jason T's picture

"We don't want your X confetti"

 

but they'll happily accept gold I"m sure.. for now, until the dark age, post 2032.. then only food will suffice as money.

Thu, 01/30/2014 - 11:18 | Link to Comment Pure Evil
Pure Evil's picture

Ah, my young grasshopper, you've forgotten the oldest currency on the planet............sex.

Thu, 01/30/2014 - 11:10 | Link to Comment Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Zimbabwe, that paragon of currency stability

 

That one made me laugh hard. Sadly it might prove to be true once the wheels come completely off this wagon.

Thu, 01/30/2014 - 11:14 | Link to Comment Smiley
Smiley's picture

"You have to give up"

Thu, 01/30/2014 - 11:19 | Link to Comment Clowns on Acid
Clowns on Acid's picture

The Southern African collapse is nearly complete. South African gold mines will be nationalized (Anglo looking to sell) Botswana platinum mines will be overrun and ultimately nationaized.

There is knowlwdge, and then there is African knowledge.

Thu, 01/30/2014 - 11:28 | Link to Comment Alpha Monkey
Alpha Monkey's picture

http://nehandaradio.com/2013/05/17/mugabe-wants-to-liberate-zimbabwe-fro...

Zim gold currency next year? Came across this in a search for Zimbabwe gold reserves.

Thu, 01/30/2014 - 12:11 | Link to Comment falak pema
falak pema's picture

A good insight into EM turmoil here : http://www.nakedcapitalism.com/2014/01/george-mangus-warns-broad-impact-...

Keep your eye on the Chinese Shadow banking crisis.  China is the swing market for EM sentiment and momentum. 

Apparently it has a bigger impact on EM plays than the FED taper does.

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