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

 

 

 

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sitenine's picture

Are you sure those pictures aren't from Detroit?

PeterLemonJello's picture

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

akak's picture

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

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

fuu's picture

Totally bullish!

Jason T's picture

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

optimator's picture

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

Mr Lennon Hendrix's picture

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

killallthefiat's picture

The US is not Zimbabwe.  We have normal futball

Soda Popinski's picture

Thats the trouble with trillions

superbroker1's picture

More money, more problems  - Puff Daddy

Peter Pan's picture

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

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?

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!!!

Poetic injustice's picture

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

debtor of last resort's picture

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

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

ffart's picture

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

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.

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.

ali-ali-al-qomfri's picture

"Starving Billionaire"

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

drink or die's picture

Don't blame me, I voted for Obomney.

Floordawg's picture

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

This is going to be interesting.

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.

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.

jumbo maverick's picture

Don't forget the plastic rice for all

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?

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. 

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)!

Mark123's picture

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

lolmao500's picture

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

optimator's picture

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

Azannoth's picture

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

rosiescenario's picture

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

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.

CommunityStandard's picture

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

 

 

 

/sarc

ZeroAvatar's picture

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

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.

Mr Lennon Hendrix's picture

Source: Dallas Fed

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

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.

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.

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."

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.