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Pictures From Zimbabwe
Just because "Spanish banks are fine" 12 days before they got a full-blown bailout, and global hyperinflation can never happen in this world, where every central planner is now preparing to hold the CTRL and P buttons until the bitter end, here are some pictures from Zimbabwe.
And some charts:
And the chart most familiar to Americans as at least when it comes to government debt, Zimbabwe is America.
But don't worry. The USD will never lose its reserve status. Oh wait...
Finally, a timeline:
- April 1980
- The (first) Zimbabwean dollar replaces the Rhodesian dollar at par, which buys US$1.54. A series of bank notes is issued, ranging from Z$2 to Z$20.
- From 1994 to 2006
- The Reserve Bank issues a new series of notes, from Z$2 to Z$100. As inflation rises and erodes the currency’s purchasing power, Z$500 and Z$1,000 banknotes are issued from 2001 to 2005. In the first half of 2006, new Z$50,000 and Z$100,000 denominations debut.
- Aug. 1, 2006
- The first currency reform is implemented in an effort to contain spiraling inflation. The Zimbabwean dollar is redenominated by lopping off three zeros from the old currency. The new (second) Zimbabwean dollar is revalued at one new dollar = 1,000 old
dollars.
- The first currency reform is implemented in an effort to contain spiraling inflation. The Zimbabwean dollar is redenominated by lopping off three zeros from the old currency. The new (second) Zimbabwean dollar is revalued at one new dollar = 1,000 old
- July 1, 2007
- The Z$500,000 note is introduced, valued at about US$16 at the official exchange rate.
- Dec. 31, 2007
- The Z$750,000 (US$25) note begins circulation.
- Jan 1, 2008
- The Z$1 million, Z$5 million and Z$10 million denominations debut.
- April 2, 2008
- Z$25 million and Z$50 million bills are introduced. Prices of basic goods are in millions—a T-shirt costs Z$276.5 million, pants Z$2.75 billion. Tomatoes and other local produce are priced in millions.
- At a restaurant, two beers and water cost Z$1.24 billion.
- May 2, 2008
- The Z$100 million, Z$250 million and Z$500 million notes debut. Annual inflation reaches more than 100,000 percent.
- May 15, 2008
- Z$5 billion, Z$25 billion and Z$50 billion notes are printed.
- July 1, 2008
- A Z$100 billion note is issued, about the price of three eggs at the time.
- Aug. 1, 2008
- Another round of currency reforms is implemented. The government slashes 10 zeros from each second Zimbabwean dollar bill and the third Zimbabwean dollar is valued at 10 billion old dollars (second Zimbabwean dollars). Inflation continues rising.
- Sept. 29, 2008
- New Z$10,000 and Z$20,000 notes are introduced.
- Oct. 13, 2008
- The new Z$50,000 bill is printed.
- Nov. 5, 2008
- Z$100,000 and Z$500,000 notes are issued.
- Dec. 4, 2008
- The Z$1 million, Z$10 million, Z$50 million and Z$100 million bills appear. Ten days later, the Z$200 million and Z$500 million banknotes debut, followed by the Z$1 billion, Z$5 billion and Z$10 billion notes issued on Dec. 19, 2008.
- Jan. 12, 2009
- The government issues two new denominations: Z$20 billion and Z$50 billion bills.
- Jan. 16, 2009
- Even higher denominations are issued: Z$10 trillion, Z$20 trillion, Z$50 trillion bills and the largest banknote ever—the Z$100 trillion bill.
- Feb. 3, 2009
- The Reserve Bank of Zimbabwe introduces the fourth Zimbabwean dollar, with 12 zeros removed from old bills, making 1 trillion old dollars equal to one new dollar. Denominations of the new currency are the Z$1, 5, 10, 20, 50, 100 and 500 notes. However, loss of confidence quickly leads to abandonment of the Zimbabwean dollar in favor of foreign currencies, primarily the U.S. dollar and the South African rand.
Source: Dallas Fed
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Are you sure those pictures aren't from Detroit?
Damn honky, that hurts. Didn't you bitchez hear we're getting a new bridge
So that people can move out faster?
To nowhere?
Zimbabwe, Detroit, Philadelphia --- you know they all look the same to me!
Hiroshima vs. Detroit (64 years later)
~~~
http://www.freerepublic.com/focus/chat/2349112/posts
There was a loud silence today at 3:59-4:00pm EDT, as if millions of people's minds dropped into their guts
Totally bullish!
Bullish toilet paper
Great post. Martin Armstrong says system will collapse before hyperinflation could set in.
The FED knows that and is limiting inflation to 22% a year.
I thought Ben was targeting 2%. Is he smoking that hopium again?
The US is not Zimbabwe. We have normal futball
Thats the trouble with trillions
More money, more problems - Puff Daddy
Is using Zimbabwe dollars at the toilet an example of "channel stuffing"?
When, just when is the moment that i have to switch from stacking pm to stacking food. And how do i atack a guy carrying an ak47 with a knife so i can take over his ak47. Just wondering what my next question will be. Access to ZH?
the guy with the AK will not have any food or pms so either bribe him or slay him after you entice him with a meal, WINNING!!!
Add sleep agent to food and then conveniently drop food near him.
No thanks, i've had enough of sleeping agents in this fucking EU.
1. You should always have a decent supply of non-perishable food items, unless you want to depend on FEMA in case of an emergency.
2. from behind
1. agree
2. agree
Or just hire him to guard your estate with his AK in exchange for some food.
This is the optimal solution. Get extra food and let somebody else do the dying. Enough food and you can be a fuedal warlord like the old days.
Hey even feudal warlords had to keep their subjects happy, because they couldn't just print more money out of thin air.
"Starving Billionaire"
I love the smile, they know more than most Americans.
Don't blame me, I voted for Obomney.
Jeezus, bitchez...
Will the USD be able to stave off a similar style exponential curve into oblivion?
This is going to be interesting.
You see, lack of food stamp programs seems to be the main reason these countries collapse, whether it be revolution or hyper-inflation. The key to maintaining your grasp on society is to ensure everyone has food.
As long as the farmers produce food, Wal-Mart sells it, and people can buy it with their JPM EBT Card, the game will keep going.
To ensure everyone has food, they're going to have to be pretty creative to keep the balance sheets "low"...
Like maybe using cost reducing methods like cattle containment. Cheap, unhealthy feed that basically kills the cattle that can't move enough to burn any of the dead calories they take in.
Yeah, that sounds about par for course with our government.
Don't forget the plastic rice for all
However the cost curve is maintained he is right. The food keeps flowing, Hollywood commies keep producing circuses and this country grinds into one large FEMA camp the wire will just be a bit harder to see. Of course for many ZH'ers the wire is already blinking neon, but what to do?
Speaking of keeping the people fed, take a look at the OK Quik-E-Mart photo above...shelves are totally empty except for one loaf of bread at the end of the aisle...that thing must have a huge turd baked into it or something.
No food at the Quik-E-Marts, but plenty of GMO corn based slop at the cattle containment FEMA camps. At first they will be voluntary, enticing the sheeple with plenty of "sustenance," then mandatory.
Mmm, turd bread (packed with GMO corn)!
Thats really funny :-)
Get me a f'ing ticket out of this place....
Bullish... they've reached the bottom, it's only up from now!
Those real Rhodesians, before the U.N. administered elections, were saying, "One man, one vote, one time". Mugabe was the man.
Because in a country of 10% white and 90% black having democracy was such a good idea
OT....what happens if Hong Kong buys out the LME? Will that crimp the CME's stepping on silver?
Look what happens when the Whites get shafted, killed and ruled by a black Communist.
Man, it is a good thing America doesn't have a black...
Oh. Ohhhh. Ohhhhhhhh. FUCK.
Don't worry, Mittens will get in and make it all better.
/sarc
Your break's over, CommunistStandard, time to log back in to Huffpo.
I will never forget my teacher German language who brought one of those German 'Weimar' bills to school. It was a beautiful woman.
Source: Dallas Fed
Yes, but they didn't include the, "Reserve Currency Status does not last forever" graph.
Do they have gold in Zimbabwe??
Not exactly related to this story but gold actually went down when priced in euros today. It is puzzling.
There were parts in Zimbabwe where you could not get food without trading it for gold during the peak of the collapse of the financial structure.
And the likely reason why gold went down when priced in euros is because the European Banks were likely leasing the shit out of their gold reservees to find capital for their insane debt rolls they will be doing for the next six weeks.
I watched a documentary about Zimbabwe a few years ago. here were some vendors that would trade in US dollars, most only gold.
Many, many people literally mining thier own gold out of riverbanks.
One woman stated "If you cannot get 1/3 gram of gold per day, you will die."
Do they have gold in Zimbabwe??
Yes, and during the worst of their mess, to eat they panned the local streams and rivers to get enough to live ONE more day.
I also read a story about people there resorting to eating some form of mud-like cakes or something like that. It's down right mideaval there now.
Rumor is they have a taste for radioactive waste. It dosen't last long unfortunately.
Probably healthier than hotpockets, or anything served (force fed) at a government youth prison camp (public school for the homies)
Standard food item in black countries. Popular in Haiti as well. Apparently clay makes you feel full for a while.
Soon coming to lots of the white countries too!
They got the recipe from McDonalds.
It's down right mideaval there now.
Detroit? Chicago? Camden, NJ?
Gold For Bread - Zimbabwe - YouTube
http://www.youtube.com/watch?v=7ubJp6rmUYM
Gotta close the blinds because this story is causing my screen to give off a strange shine.
How do you wipe your ass with cardboard? Must do a great job.
Very carefully.
Lucky for us the US will charge boldly into WW3 before the real hyper inflation kicks in. Got to wonder if Zimbabwe Ben will engage in a little nuclear blackmail.
Well after 4pm on Friday and no news of any downgrades or anything shitty in Europe?
Wow, they've got this nailed down tight.
Germany's parliament interrupted their session early today and stopped. Reason given is bullshit.
Merkel postponing her trip to Mexico by 12 hours to await Greece's vote. She might as well not go.
This is it. World as you knew it is ending on Sunday.
Everyone for themselves.
does seem a little quiet this afternoon
Monday will be just like last Monday - not even a ripple - gauranteed - money in the bank. Any takers? Usual amount.
Trying to explain to friends/relatives what going on in the world is difficult at best. Many people simply don't want to know. I've done a presentation for several people: I put a $1 and $10 (U.S) on a table and ask which they would rather have. Obvioulsy, everyone answers 'the $10'. I will quickly point out that both bills are the same size, color, texture, markings, etc... and ask, why the $10. The answer is always the same: 'because it has a zero on it'. Aha, its the zero's, I exclaim. At this point I pick up the $1, leave the $10 and put down various defunct currencies from around the world (including a 100T Zimbabwae note). I also plunk down a Morgan silver dollar and ask again (the deer in headlights photo would be appropriate here). The argument usually starts when I tell them it could happen here. People think currency devaluation can't happen in the U.S. even after I've just shown them that it has.
You are, of course, right. But if you truly in your heart want to convince the people you care about, you can't start with fear. That's why hopium has been winning the propaganda war - because fear doesn't sell.
The scenario I just described is usually not my opening to a preparedness type discussion. It is usually part of a larger set of discussions. btw, I did not down vote you.
Haha, don't worry. I find most people on this site don't really want to convince anybody.
Vincent, have them read this; it's an interesting article:
Using inflation to erode the US public debtJoshua Aizenman Nancy P. Marion
As the US debt-to-GDP ratio rises towards 100%, policymakers will be tempted to inflate away the debt. This column examines that option and suggests that it is not far-fetched. US inflation of 6% for four years would reduce the debt-to-GDP ratio by 20%, a scenario similar to what happened following WWII.
http://voxeu.org/index.php?q=node/4413
this kind of information calls for a joint press conference with baghdad bob, gideon gono, and larry summers to help us all understand what it really means.
paris hilton and kim kardashian begin the questioning.
Are the coming US $1 Billion bills going to have Supreme Comandante Obongo's face on them?
No, his ass.
It'll really be a PSA... showing you exactly what you should use the bill for.
You wanna buy a chicken?
5 000 000 000 000. Cheap cheap .
In Zim no part of the chicken goes to waste. You can buy bags of beaks and feet to make a broth. They call them "walkie talkies"!
They used to throw the wings away in NA.
DON'T LAUGH .... USA ... you're NEXT !!
keep stacking
New Canadian dollar bank note http://i46.tinypic.com/23rl91d.png
Zimbabwe Dollars, Bernanke Bucks! Soon to be same thing!
I have a few rhodesian silver crowns just for the fun of it. 60$ a piece!
And pretty nice!
They'll never devalue!
All heil zimbabwe formally known as rhodesia!
I also have a lot of silver dollars....
I feel richer already...
Sad but true
Hope this is not the USA in 10 years
Otherwise I better buy my farm sooner rather than later!
wow, a billionaire......to dream!!!!.................
You still pitchin' your tent in the deflation camp?
junkyardjackass ... You do feel .. yes .. feel it now ... feel it good .. I am one with the mental problems :)
grab some popcorn, sit back and enjoy the harbinger to come
Am I going nuts or i just saw a trillion dollar bill?
US in alert mode! Thanks Obama for for putting the deficit at 15Trillion
One of those 100Trill bills will take care of our debt !
Ben Bernanke is not Dr. Gideon Gono!
And the charts should put the Keynesian nonsense to rest that falling economic activity cannot go hand in hand with high rates of inflation. Output gap fallacy, bitchez!
Obama Gets Angry as Reporter Interrupts #Obamas Press Conference 15.06.2012
http://www.youtube.com/watch?v=epyX9CVl9iY
Mr. Roger's Neighborhood Intro Theme
http://www.youtube.com/watch?v=8w9xk4hUKoQ
Pathetic Obama.
Can't they just grow some dope and export it like Mexico? They are doing ok with it? Right?
Zimbabwe was printing money to pay civil servants and army personnel ever higher payrolls. That's a completely different scenario from printing money and giving it to banks where it will never be loaned into the broader economy due to low demand for goods and services.
Looks like they got rid of their 2004 deflationary pressures.
Digital currency won't clog up the toilet - now I know why they want it !!!
The US isn't Zimbabwe....
http://www.nypost.com/p/news/national/wiretaps_reveals_accusations_against_iuZUWdXZWee1bRZDom5QQJ
The new highest denomintation note ever printed will be the Uncle Ben. It will be worth $1 quadrillion US dollars. The front will feature a photo of Ben Bernanke flashing a thumbs up with Jamie Dimon sucking his dick, and Llyod Blankfien shoving his hand up Dimon's ass.
The back will feature Obama bending over wiping his ass with the US constitution.
When the artist was asked about the images featured on the bill. He simply said he wanted to capture the essence of the events that led to the bill's creation.
WB7, get to work !!!
When will the dollar bubble burst?
2014
i don't get it - why did you leave out the most important chart? their stock market outperformed every other market in the world by a large margin. that 'wealth effect' more than made up for any transitory inflation. i guess its a safe bet that you didn't study at harvard.
Nice.
Idiots like RobotLemming and Stimulati, though, will be incapable of grasping your sarcasm.
Tyler you might consider posting this for the rest of zero hedge to see. Peter Schiff in front of congress yesterday, say what you will about him but he does a great job trying to advance the free market ideals in this room full of statist.
http://www.youtube.com/watch?v=Yexzq3LGIWk&feature=relmfu
These politicians really are megalomaniacs who think government is the reason the world continues to turn.
It really is far far worse in DC than I ever thought.
i loved your book.
Doesn't matter who wins romney or obamarama, the banks will continue to get what ever they want and everyone else, thats YOU, will pay for it.
Amazing, a privately owned fed reserve making money by charging the american people for their own money. the perfect skim. a cartel with its hands on the throat of the american economy. madoff and his ilk, small potatoes. Scorcese should make the film, though the scale of this is a couple of leagues above casino.
Perhaps they should elect Paul Krugman as President.
On another note, did the banking cartels in Europe assasinate that Alexis Tsipras guy yet in Greece????
When did Mugabe start stealing farms from white Africans? Somewhere around Y2K, right?
The Zimbabweans need to knock some of those "zeros" off their Fiat! Ala /Mexican peso style. Then people will stop using them as Ass Wipes<>
P.S. I'm short used Zimbabwean " store shelving!
Yes, such a pity that Gideon Gono didn't realize that merely wiping away some zeros from his overissued banknotes could have magically and automatically added value to them.
akak Respectfully? Lighten up. We (all), are well aware of the problems in Zimbabwe. You aren't Greek by any chance?
Why should I "lighten up" to obvious and insulting stupidity?
And no, I am not Greek --- and what that might even have to do with the topic at hand eludes me.
By the way, nice job of downvoting me while upvoting yourself. Very classy.
I wouldn't waste my time akak. You just insulted your own, insecure desire to be " understood".
Someone gave you a Red Flag and it wasn't me! Your skin gets thinner by the post!
Whatever.
Your inane comments have once again grown tiresome and unworthy of response.
Goodbye.
Actually that was me.
Thank you, for your honesty fuu.
I gave you one of the down votes, akak.
skepticCarl not to "deminish", the kind jesture. Thank you for your honesty!
New
You might might want to check them ( shelving), for skid marks first?
http://news.yahoo.com/airplanes-oil-cut-canada-april-manufacturing-sales...
More green shoots.....
It's the Queen's jubilee. The debts will be forgiven. Stupid Canucks. Where do they expect their kids to live? In the basement.
It depends on which side of Canada you live on. A lot of those basements are " Koi Ponds".
You covered Vancouver to Toronto. still working on diggin the basements from Montreal to St. John's
CCanuck a wise man you are! I'm sure every native " Canadian" appreciates your service!
Native Canadians are busy wondering how that Chief up the way took all his socialism.
That press conference/announcement, earlier really took the " Eskimo Jerky"!
You have some gold. I have some toilet paper. Would you like to make a trade?
Those are the happiest looking billionaires I've seen in like forever.
LOL...You know you have an inflation problem when you have to use a log scale on the Y axis...
"USA is not Zimbabwe" - Potus Maximus Presidentius IX, 12-December-2012.
New executive order today; Obama decrees that rain is not allowed to fall on Washington DC. MSNBC reporters attempt to interview a cloud with little success.
Clouds are heavier than the air that surrounds them - has it been figured out why they don't fall ?
with Monday on my Mind and seemingly haircuts
all around I tossed this vid mash together that visually
makes the case for Merkel & Co. to go full Mohawk!
http://www.youtube.com/watch?v=sToQzWUgm2o
...
there is no other solution...
I got me a couple of them 100 trillion dollar bills...................I'm RICH BITCH!!!!!!!!!!
Do you want to become a quadrillionaire?
Vote for Bernanke bucks!
Can someone dumb this down for me and explain why the U.S. is not Zimbabwe (other than our economy being so much larger)? Thanks in advance!
I'll try ) 1.000,000,000,000<> ooo by 2015? Any Questions?
So you don't know either, huh? ;)
Nope! When I was 12 .(2030) looked good! Then again " Board Room Tables" were on my "take over" list!
/ (:-/ ...?
See my post @ the top.
Hungry: Can you let us buy Zimbabwe debt as collateral?
Central banking counterfeit reserve currency keyboard clerk: I’m sorry, your debt to income ratio doesn’t meet our new Basel III accord requirements.
Hungry: What?
Central banking counterfeit reserve currency keyboard clerk: Yes sir, you’re going to have to contact our BIS subprime securitization department to work thru your application submission.
The Zimbabwe stock market had the highest rate of return in the world at this time....... solely due to hyoerinflating values of $Zim used to price shares....
We are "square" , and This "Tirade" , has an END!
I refuse to fight with a "gifted' MIND!
Difference between the US government & Zimbabwe?
The US government has the world's biggest military & uses it to enforce the use of dollars, invading defenseless countries & stealing their natural resources & central bank held gold.
That hegemony won't last forever as they can't invade everyone, especially Russia & China.
Polez, Robert Mugabe broke Zmbabawe, it's apples and oranges.
- Feb. 3, 2009
- The Reserve Bank of Zimbabwe introduces the fourth Zimbabwean dollar, with 12 zeros removed from old bills, making 1 trillion old dollars equal to one new dollar. Denominations of the new currency are the Z$1, 5, 10, 20, 50, 100 and 500 notes. However, loss of confidence quickly leads to abandonment of the Zimbabwean dollar in favor of foreign currencies, primarily the U.S. dollar and the South African rand.
Actually, the inability of Zimbabwe to buy any more banknote paper to print more money was what put an end to this farce. A combination of international pressure on the supplier of the paper used by Zimbabwe - and a lack of foreign exchange to pay for the paper - combined to cut off Zimbabwe's supply. Ironic considering how inherently rich Zimbabwe is in terms of minerals and other materials..... which may be why much of the population is panning for gold - a pinch of gold dust buys you food for a day. As in past hyperinflations, people fled to 'safe haven ' currencies. Zimbabwe has resorted to using South African Rands and US dollars for currency just as the preferred medium of exchange in the crumbling Yugoslavia was German Marks. But what happens when there is no 'safe haven' large enough to accommodate the demand arising when a major currency collapses - e.g. the Euro or $US?Am I gonna have to shave off flecks from my gold coins to buy food? If so, I'm gonna be pissed.
-
May Zimbawe be one of the best exhibits of the idiocracy running this world.
May I interject an " Argentinian Flare"?