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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 | 4383918 pragmatic hobo
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that would be a perfect onion headline.

Thu, 01/30/2014 - 10:39 | 4383926 hedgeless_horseman
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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 | 4383932 LawsofPhysics
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At this point, Zimbabwe has just as much credibility as anyone else.

Thu, 01/30/2014 - 10:43 | 4383938 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 | 4383950 WarriorClass
Thu, 01/30/2014 - 10:48 | 4383962 THX 1178
THX 1178's picture

Zimbabwe knows a worthless currency when they see it.

Thu, 01/30/2014 - 10:56 | 4383989 Pure Evil
Pure Evil's picture

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

Thu, 01/30/2014 - 10:59 | 4383998 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 | 4384076 SoilMyselfRotten
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Waiting for the Weimar Street Journal to chime in...

Thu, 01/30/2014 - 11:21 | 4384082 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 | 4384229 Save_America1st
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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 | 4384361 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 | 4384394 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 | 4384518 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 | 4384546 Tall Tom
Tall Tom's picture

Good point.

Thu, 01/30/2014 - 12:08 | 4384211 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 | 4383949 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 | 4383963 hedgeless_horseman
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Argentina, Venezuela, South Africa, Turkey, Ukraine, etc., etc., etc., etc...

Thu, 01/30/2014 - 11:05 | 4384014 THX 1178
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Whats happening in venezuela?

Thu, 01/30/2014 - 11:15 | 4384048 Clowns on Acid
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What's happening under your rock ?

Thu, 01/30/2014 - 11:23 | 4384084 THX 1178
THX 1178's picture

Miley cyrus is shaking her dinners again.

You?

Thu, 01/30/2014 - 11:24 | 4384088 Dr. Engali
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 +1 LOL

Thu, 01/30/2014 - 10:56 | 4383985 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 | 4384030 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 | 4384458 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 | 4384468 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 | 4384533 Tall Tom
Tall Tom's picture

Oooops.

Thu, 01/30/2014 - 10:55 | 4383986 Al Gorerhythm
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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 | 4383919 One And Only
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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 | 4383925 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

Afreeka for afreekans.

Thu, 01/30/2014 - 10:48 | 4383935 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 | 4384002 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 | 4384479 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 | 4384466 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 | 4383948 Bearwagon
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You obviously never asked yourself where the uranium for the first atomic bomb came from, did you?!  ;-)

Thu, 01/30/2014 - 15:00 | 4384803 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 | 4384009 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 | 4384191 pods
pods's picture

A lot of the shiny comes from Africa.

pods

Thu, 01/30/2014 - 13:59 | 4384532 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 | 4384752 wtf1369
wtf1369's picture

And killer bees....

Thu, 01/30/2014 - 15:03 | 4384816 DontGive
DontGive's picture

Dats rayciss

Thu, 01/30/2014 - 10:38 | 4383922 401K of Dooom
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Ha ha ha ha, Zimbabwe is a opinion leader of economic conditions?  OMG the end is near!  ROLFMAO!!!!!!!

Thu, 01/30/2014 - 10:43 | 4383941 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 | 4384032 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 | 4383923 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 | 4383960 Bearwagon
Bearwagon's picture

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

Thu, 01/30/2014 - 11:19 | 4384073 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 | 4384501 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 | 4383933 Sudden Debt
Sudden Debt's picture

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

Thu, 01/30/2014 - 10:46 | 4383952 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 | 4383970 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 | 4384045 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 | 4384512 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 | 4384815 snr-moment
snr-moment's picture

same result

Thu, 01/30/2014 - 13:54 | 4384522 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 | 4383956 alphamentalist
alphamentalist's picture

you know you currency sucks when even zimbabwe shuns it?

Thu, 01/30/2014 - 10:48 | 4383957 buzzsaw99
buzzsaw99's picture

there can only be one. [/highlander]

Thu, 01/30/2014 - 10:49 | 4383968 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 | 4384040 Tyler Durden
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AFP head reporter for Johannesburg: one of the few somewhat credible news services remaining.

Thu, 01/30/2014 - 13:41 | 4384474 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 | 4384060 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 | 4384459 Agent P
Agent P's picture

You're barking up the wrong tree.

Thu, 01/30/2014 - 10:55 | 4383980 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 | 4383995 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 | 4384065 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 | 4384026 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 | 4384050 Smiley
Smiley's picture

"You have to give up"

Thu, 01/30/2014 - 11:19 | 4384069 Clowns on Acid
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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 | 4384104 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 | 4384213 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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