This page has been archived and commenting is disabled.

Pictures From Zimbabwe

Tyler Durden's picture




 

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.
  • 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

 

 

 

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fri, 06/15/2012 - 16:01 | 2530548 sitenine
sitenine's picture

Are you sure those pictures aren't from Detroit?

Fri, 06/15/2012 - 16:39 | 2530678 PeterLemonJello
PeterLemonJello's picture

Damn honky, that hurts.  Didn't you bitchez hear we're getting a new bridge

Fri, 06/15/2012 - 18:35 | 2530945 Umh
Umh's picture

So that people can move out faster?

Fri, 06/15/2012 - 20:45 | 2531127 Uncle Remus
Uncle Remus's picture

To nowhere?

Fri, 06/15/2012 - 18:13 | 2530901 akak
akak's picture

Zimbabwe, Detroit, Philadelphia --- you know they all look the same to me!

Fri, 06/15/2012 - 21:53 | 2531185 francis_sawyer
francis_sawyer's picture

Hiroshima vs. Detroit (64 years later)

~~~

http://www.freerepublic.com/focus/chat/2349112/posts

Fri, 06/15/2012 - 16:03 | 2530557 BlandJoe24
BlandJoe24's picture

There was a loud silence today at 3:59-4:00pm EDT, as if millions of people's minds dropped into their  guts

Fri, 06/15/2012 - 16:04 | 2530559 fuu
fuu's picture

Totally bullish!

Fri, 06/15/2012 - 16:17 | 2530617 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Bullish toilet paper

Fri, 06/15/2012 - 16:05 | 2530562 Jason T
Jason T's picture

Great post.  Martin Armstrong says system will collapse before hyperinflation could set in.  

Fri, 06/15/2012 - 16:10 | 2530578 optimator
optimator's picture

The FED knows that and is limiting inflation to 22% a year.

Fri, 06/15/2012 - 16:18 | 2530620 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I thought Ben was targeting 2%.  Is he smoking that hopium again?

Fri, 06/15/2012 - 16:07 | 2530569 killallthefiat
killallthefiat's picture

The US is not Zimbabwe.  We have normal futball

Fri, 06/15/2012 - 16:08 | 2530572 Soda Popinski
Soda Popinski's picture

Thats the trouble with trillions

Fri, 06/15/2012 - 16:40 | 2530682 superbroker1
superbroker1's picture

More money, more problems  - Puff Daddy

Fri, 06/15/2012 - 16:08 | 2530573 Peter Pan
Peter Pan's picture

Is using Zimbabwe dollars at the toilet an example of "channel stuffing"?

Fri, 06/15/2012 - 16:09 | 2530577 debtor of last ...
debtor of last resort's picture

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?

Fri, 06/15/2012 - 16:25 | 2530625 SemperFord
SemperFord's picture

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!!!

Fri, 06/15/2012 - 16:27 | 2530645 Poetic injustice
Poetic injustice's picture

Add sleep agent to food and then conveniently drop food near him.

Fri, 06/15/2012 - 16:35 | 2530669 debtor of last ...
debtor of last resort's picture

No thanks, i've had enough of sleeping agents in this fucking EU.

Fri, 06/15/2012 - 16:20 | 2530627 Matt
Matt's picture

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

Fri, 06/15/2012 - 16:39 | 2530676 debtor of last ...
debtor of last resort's picture

1. agree
2. agree

Fri, 06/15/2012 - 16:39 | 2530680 ffart
ffart's picture

Or just hire him to guard your estate with his AK in exchange for some food.

Fri, 06/15/2012 - 18:08 | 2530891 Marginal Call
Marginal Call's picture

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.

Fri, 06/15/2012 - 19:29 | 2531023 ffart
ffart's picture

Hey even feudal warlords had to keep their subjects happy, because they couldn't just print more money out of thin air.

Fri, 06/15/2012 - 16:11 | 2530582 ali-ali-al-qomfri
ali-ali-al-qomfri's picture

"Starving Billionaire"

I love the smile, they know more than most Americans.

Fri, 06/15/2012 - 16:11 | 2530585 drink or die
drink or die's picture

Don't blame me, I voted for Obomney.

Fri, 06/15/2012 - 16:12 | 2530588 farmerjohn2112
farmerjohn2112's picture

Jeezus, bitchez...

Fri, 06/15/2012 - 16:12 | 2530589 Floordawg
Floordawg's picture

Will the USD be able to stave off a similar style exponential curve into oblivion?

This is going to be interesting.

Fri, 06/15/2012 - 16:26 | 2530643 Matt
Matt's picture

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.

Fri, 06/15/2012 - 16:43 | 2530691 Floordawg
Floordawg's picture

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.

Fri, 06/15/2012 - 20:53 | 2531136 jumbo maverick
jumbo maverick's picture

Don't forget the plastic rice for all

Sat, 06/16/2012 - 08:42 | 2531784 Calmyourself
Calmyourself's picture

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?

Fri, 06/15/2012 - 17:22 | 2530775 Agent P
Agent P's picture

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. 

Fri, 06/15/2012 - 17:25 | 2530811 Floordawg
Floordawg's picture

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)!

Fri, 06/15/2012 - 19:01 | 2530984 Lucky Guesst
Lucky Guesst's picture

Thats really funny :-)

Fri, 06/15/2012 - 16:13 | 2530592 Mark123
Mark123's picture

Get me a f'ing ticket out of this place....

Fri, 06/15/2012 - 16:14 | 2530599 lolmao500
lolmao500's picture

Bullish... they've reached the bottom, it's only up from now!

Fri, 06/15/2012 - 16:16 | 2530600 optimator
optimator's picture

Those real Rhodesians, before the U.N. administered elections, were saying, "One man, one vote, one time".  Mugabe was the man. 

Fri, 06/15/2012 - 16:38 | 2530674 Azannoth
Azannoth's picture

Because in a country of 10% white and 90% black having democracy was such a good idea

Fri, 06/15/2012 - 16:15 | 2530601 rosiescenario
rosiescenario's picture

OT....what happens if Hong Kong buys out the LME? Will that crimp the CME's stepping on silver?

Fri, 06/15/2012 - 16:15 | 2530602 Morrotzo
Morrotzo's picture

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.

Fri, 06/15/2012 - 16:19 | 2530621 CommunityStandard
CommunityStandard's picture

Don't worry, Mittens will get in and make it all better.

 

 

 

/sarc

Sat, 06/16/2012 - 23:12 | 2533099 ZeroAvatar
ZeroAvatar's picture

Your break's over, CommunistStandard, time to log back in to Huffpo.

Fri, 06/15/2012 - 16:15 | 2530603 debtor of last ...
debtor of last resort's picture

I will never forget my teacher German language who brought one of those German 'Weimar' bills to school. It was a beautiful woman.

Fri, 06/15/2012 - 16:17 | 2530613 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Source: Dallas Fed

Yes, but they didn't include the, "Reserve Currency Status does not last forever" graph.

Fri, 06/15/2012 - 16:17 | 2530614 Bastiat009
Bastiat009's picture

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.

Fri, 06/15/2012 - 16:22 | 2530629 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

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.

Fri, 06/15/2012 - 16:33 | 2530663 JohnG
JohnG's picture

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."

Fri, 06/15/2012 - 16:30 | 2530654 DosZap
DosZap's picture

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.

Fri, 06/15/2012 - 16:42 | 2530692 Zymurguy
Zymurguy's picture

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.

Fri, 06/15/2012 - 17:10 | 2530772 walcott
walcott's picture

Rumor is they have a taste for radioactive waste. It dosen't last long unfortunately.

Fri, 06/15/2012 - 17:18 | 2530796 prole
prole's picture

Probably healthier than hotpockets, or anything served (force fed) at a government youth prison camp (public school for the homies)

Fri, 06/15/2012 - 18:33 | 2530942 mjk0259
mjk0259's picture

Standard food item in black countries. Popular in Haiti as well. Apparently clay makes you feel full for a while.

Fri, 06/15/2012 - 23:12 | 2531317 Blue Horshoe Lo...
Blue Horshoe Loves Annacott Steel's picture

Soon coming to lots of the white countries too!

Fri, 06/15/2012 - 22:04 | 2531193 web bot
web bot's picture

They got the recipe from McDonalds.

Fri, 06/15/2012 - 22:11 | 2531205 Freddie
Freddie's picture

It's down right mideaval there now.

Detroit?  Chicago?  Camden, NJ?

Fri, 06/15/2012 - 16:36 | 2530655 fuu
fuu's picture

Gold For Bread - Zimbabwe - YouTube

http://www.youtube.com/watch?v=7ubJp6rmUYM

Fri, 06/15/2012 - 16:17 | 2530615 BlueStreet
BlueStreet's picture

Gotta close the blinds because this story is causing my screen to give off a strange shine.  

Fri, 06/15/2012 - 16:23 | 2530632 Silverhog
Silverhog's picture

How do you wipe your ass with cardboard? Must do a great job.

Fri, 06/15/2012 - 17:46 | 2530844 Jendrzejczyk
Jendrzejczyk's picture

Very carefully.

Fri, 06/15/2012 - 16:23 | 2530633 Shameful
Shameful's picture

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.

Fri, 06/15/2012 - 16:25 | 2530639 walküre
walküre's picture

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.

Fri, 06/15/2012 - 17:13 | 2530780 Global Hunter
Global Hunter's picture

does seem a little quiet this afternoon

Fri, 06/15/2012 - 17:22 | 2530807 semperfi
semperfi's picture

Monday will be just like last Monday - not even a ripple - gauranteed - money in the bank.  Any takers?  Usual amount.

Fri, 06/15/2012 - 16:25 | 2530640 Vincent Vega
Vincent Vega's picture

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. 

 

Fri, 06/15/2012 - 16:46 | 2530705 CommunityStandard
CommunityStandard's picture

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.

Fri, 06/15/2012 - 17:00 | 2530744 Vincent Vega
Vincent Vega's picture

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.

Fri, 06/15/2012 - 18:25 | 2530926 CommunityStandard
CommunityStandard's picture

Haha, don't worry.  I find most people on this site don't really want to convince anybody.

Fri, 06/15/2012 - 19:50 | 2531051 Arnold Ziffel
Arnold Ziffel's picture

Vincent, have them read this; it's an interesting article:

 

Using inflation to erode the US public debt

Joshua 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

Fri, 06/15/2012 - 16:36 | 2530670 tony bonn
tony bonn's picture

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.

Fri, 06/15/2012 - 16:36 | 2530671 Normalcy Bias
Normalcy Bias's picture

Are the coming US $1 Billion bills going to have Supreme Comandante Obongo's face on them?

Fri, 06/15/2012 - 16:44 | 2530699 Zymurguy
Zymurguy's picture

No, his ass.

It'll really be a PSA... showing you exactly what you should use the bill for.

Fri, 06/15/2012 - 16:44 | 2530700 Satan
Satan's picture

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"!

Fri, 06/15/2012 - 19:11 | 2531001 robertocarlos
robertocarlos's picture

They used to throw the wings away in NA.

Fri, 06/15/2012 - 16:45 | 2530701 Rastamon
Rastamon's picture

 

 

 

DON'T LAUGH .... USA ... you're NEXT !!

 

keep stacking

Fri, 06/15/2012 - 16:52 | 2530721 Ecoman11
Ecoman11's picture

New Canadian dollar bank note http://i46.tinypic.com/23rl91d.png

Fri, 06/15/2012 - 16:53 | 2530722 sbenard
sbenard's picture

Zimbabwe Dollars, Bernanke Bucks! Soon to be same thing!

Fri, 06/15/2012 - 16:52 | 2530724 Sudden Debt
Sudden Debt's picture

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....

Fri, 06/15/2012 - 16:52 | 2530725 junkyardjack
junkyardjack's picture

I feel richer already...

Fri, 06/15/2012 - 16:58 | 2530732 trader78
trader78's picture

Sad but true

Hope this is not the USA in 10 years

Otherwise I better buy my farm sooner rather than later!

Fri, 06/15/2012 - 16:59 | 2530736 kito
kito's picture

wow, a billionaire......to dream!!!!.................

Fri, 06/15/2012 - 17:51 | 2530854 Jendrzejczyk
Jendrzejczyk's picture

You still pitchin' your tent in the deflation camp?

Fri, 06/15/2012 - 17:00 | 2530737 Mordan I
Mordan I's picture

junkyardjackass ... You do feel .. yes .. feel it now ... feel it good .. I am one with the mental problems :)

Fri, 06/15/2012 - 17:00 | 2530743 world_debt_slave
world_debt_slave's picture

grab some popcorn, sit back and enjoy the harbinger to come

Fri, 06/15/2012 - 17:04 | 2530756 trader78
trader78's picture

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 

 

Fri, 06/15/2012 - 17:17 | 2530790 semperfi
semperfi's picture

One of those 100Trill bills will take care of our debt ! 

Fri, 06/15/2012 - 17:05 | 2530757 Mister Ponzi
Mister Ponzi's picture

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!

Fri, 06/15/2012 - 17:08 | 2530766 walcott
walcott's picture


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

Sat, 06/16/2012 - 00:53 | 2531430 TNTARG
TNTARG's picture

Pathetic Obama.

Fri, 06/15/2012 - 17:10 | 2530771 martians8u
martians8u's picture

Can't they just grow some dope and export it like Mexico? They are doing ok with it? Right?

Fri, 06/15/2012 - 17:12 | 2530778 Stimulati
Stimulati's picture

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.

Fri, 06/15/2012 - 17:13 | 2530779 q99x2
q99x2's picture

Looks like they got rid of their 2004 deflationary pressures.

Fri, 06/15/2012 - 17:15 | 2530787 semperfi
semperfi's picture

Digital currency won't clog up the toilet - now I know why they want it !!!

Fri, 06/15/2012 - 17:23 | 2530808 adr
adr's picture

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.

Fri, 06/15/2012 - 17:37 | 2530832 semperfi
semperfi's picture

WB7, get to work !!!

Fri, 06/15/2012 - 17:23 | 2530809 Floodmaster
Floodmaster's picture

When will the dollar bubble burst? 

Fri, 06/15/2012 - 17:36 | 2530830 semperfi
semperfi's picture

2014

Fri, 06/15/2012 - 17:34 | 2530825 you enjoy myself
you enjoy myself's picture

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.

Fri, 06/15/2012 - 18:23 | 2530919 akak
akak's picture

Nice.

Idiots like RobotLemming and Stimulati, though, will be incapable of grasping your sarcasm.

Fri, 06/15/2012 - 18:20 | 2530911 Hiro Protagonist
Hiro Protagonist's picture

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.

Fri, 06/15/2012 - 18:24 | 2530921 fuu
fuu's picture

i loved your book.

Fri, 06/15/2012 - 18:25 | 2530922 duckarooni
duckarooni's picture

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.

Fri, 06/15/2012 - 18:25 | 2530923 Tum
Tum's picture

Perhaps they should elect Paul Krugman as President.

Fri, 06/15/2012 - 18:28 | 2530934 the 300000000th...
the 300000000th percent's picture

On another note, did the banking cartels in Europe assasinate that Alexis Tsipras guy yet in Greece????

Fri, 06/15/2012 - 18:40 | 2530954 egoist
egoist's picture

When did Mugabe start stealing farms from white Africans? Somewhere around Y2K, right?

Fri, 06/15/2012 - 18:52 | 2530965 Yen Cross
Yen Cross's picture

 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!

Fri, 06/15/2012 - 19:03 | 2530986 akak
akak's picture

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.

Fri, 06/15/2012 - 19:18 | 2531008 Yen Cross
Yen Cross's picture

akak  Respectfully?  Lighten up. We (all), are well aware of the problems in Zimbabwe.  You aren't Greek by any chance?

Fri, 06/15/2012 - 20:05 | 2531073 akak
akak's picture

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.

Fri, 06/15/2012 - 20:08 | 2531078 Yen Cross
Yen Cross's picture

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!

Fri, 06/15/2012 - 20:19 | 2531093 akak
akak's picture

Whatever.

Your inane comments have once again grown tiresome and unworthy of response. 
Goodbye.

Fri, 06/15/2012 - 20:21 | 2531095 fuu
fuu's picture

Actually that was me.

Fri, 06/15/2012 - 20:48 | 2531130 Yen Cross
Yen Cross's picture

  Thank you, for your honesty fuu.   

Fri, 06/15/2012 - 21:08 | 2531148 skepticCarl
skepticCarl's picture

I gave you one of the down votes, akak.

Fri, 06/15/2012 - 21:22 | 2531157 Yen Cross
Yen Cross's picture

skepticCarl not to "deminish",  the kind jesture.  Thank you for your honesty!

Fri, 06/15/2012 - 18:51 | 2530968 Mordan I
Mordan I's picture

New

Fri, 06/15/2012 - 18:54 | 2530974 Yen Cross
Yen Cross's picture

You might might want to check them ( shelving), for skid marks first?

Fri, 06/15/2012 - 18:59 | 2530980 Arnold Ziffel
Arnold Ziffel's picture
Canada household debt at record as factory sales lag

 

http://news.yahoo.com/airplanes-oil-cut-canada-april-manufacturing-sales...

 

More green shoots.....

Fri, 06/15/2012 - 19:08 | 2530998 robertocarlos
robertocarlos's picture

It's the Queen's jubilee. The debts will be forgiven. Stupid Canucks. Where do they expect their kids to live? In the basement.

Fri, 06/15/2012 - 19:20 | 2531014 Yen Cross
Yen Cross's picture

 It depends on which side of Canada you live on. A lot of those basements are " Koi Ponds".

Fri, 06/15/2012 - 20:07 | 2531076 CCanuck
CCanuck's picture

You covered Vancouver to Toronto. still working on diggin the basements from Montreal to St. John's

Fri, 06/15/2012 - 20:12 | 2531084 Yen Cross
Yen Cross's picture

CCanuck a wise man you are!    I'm sure every native " Canadian" appreciates your service!

Fri, 06/15/2012 - 20:29 | 2531106 dognamedabu
dognamedabu's picture

Native Canadians are busy wondering how that Chief up the way took all his socialism. 

Fri, 06/15/2012 - 20:45 | 2531128 Yen Cross
Yen Cross's picture

 That press conference/announcement, earlier really took the " Eskimo Jerky"! 

Fri, 06/15/2012 - 19:03 | 2530987 robertocarlos
robertocarlos's picture

You have some gold. I have some toilet paper. Would you like to make a trade?

Fri, 06/15/2012 - 19:20 | 2531012 dognamedabu
dognamedabu's picture

Those are the happiest looking billionaires I've seen in like forever. 

Fri, 06/15/2012 - 19:27 | 2531019 ExploitTheMarket
ExploitTheMarket's picture

LOL...You know you have an inflation problem when you have to use a log scale on the Y axis...

Fri, 06/15/2012 - 19:27 | 2531020 CreativeDestructor
CreativeDestructor's picture

"USA is not Zimbabwe" - Potus Maximus Presidentius IX, 12-December-2012.

Fri, 06/15/2012 - 19:41 | 2531035 ozzzo
ozzzo's picture

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.

Sat, 06/16/2012 - 09:21 | 2531865 Pope Clement
Pope Clement's picture

Clouds are heavier than the air that surrounds them - has it been figured out why they don't fall ?

Fri, 06/15/2012 - 20:10 | 2531081 Duke of Con Dao
Duke of Con Dao's picture

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...

Fri, 06/15/2012 - 21:00 | 2531143 colddirt
colddirt's picture

I got me a couple of them 100 trillion dollar bills...................I'm RICH BITCH!!!!!!!!!!

Fri, 06/15/2012 - 21:23 | 2531158 malek
malek's picture

Do you want to become a quadrillionaire?

Vote for Bernanke bucks!

Fri, 06/15/2012 - 21:29 | 2531163 El
El's picture

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!

Fri, 06/15/2012 - 21:39 | 2531173 Yen Cross
Yen Cross's picture

I'll try )   1.000,000,000,000<> ooo by 2015? Any Questions?

Fri, 06/15/2012 - 21:54 | 2531186 El
El's picture

So you don't know either, huh? ;)

Fri, 06/15/2012 - 22:17 | 2531206 Yen Cross
Yen Cross's picture

Nope! When I was 12 .(2030) looked good! Then again " Board Room Tables" were on my "take over" list!

 

 / (:-/ ...?

Fri, 06/15/2012 - 22:54 | 2531280 Blue Horshoe Lo...
Blue Horshoe Loves Annacott Steel's picture

See my post @ the top.

Fri, 06/15/2012 - 22:09 | 2531200 Atomizer
Atomizer's picture

 

 

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.

 

Fri, 06/15/2012 - 22:58 | 2531285 cynicalskeptic
cynicalskeptic's picture

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....

Sat, 06/16/2012 - 02:37 | 2531519 Yen Cross
Yen Cross's picture

 We are "square" , and This "Tirade" , has an END!

  I refuse to fight with a "gifted' MIND!

Fri, 06/15/2012 - 22:53 | 2531278 Blue Horshoe Lo...
Blue Horshoe Loves Annacott Steel's picture

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.

Sat, 06/16/2012 - 05:38 | 2531629 Illustro
Illustro's picture

Polez,   Robert Mugabe broke Zmbabawe, it's apples and oranges.

Fri, 06/15/2012 - 22:55 | 2531282 cynicalskeptic
cynicalskeptic's picture

  • 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?

Sat, 06/16/2012 - 04:22 | 2531589 tongue.stan
tongue.stan's picture

Am I gonna have to shave off flecks from my gold coins to buy food? If so, I'm gonna be pissed.

Fri, 06/15/2012 - 23:22 | 2531329 GoodMorningMr.V...
GoodMorningMr.VanRumpoy...'s picture

-

Sat, 06/16/2012 - 01:04 | 2531443 TNTARG
TNTARG's picture

May Zimbawe be one of the best exhibits of the idiocracy running this world.

Sat, 06/16/2012 - 02:41 | 2531521 Yen Cross
Yen Cross's picture

  May I interject an " Argentinian Flare"?

Do NOT follow this link or you will be banned from the site!