Post
Topic
Board Economics
Re: Zimbabweans, again, collapse ...
by
Kprawn
on 02/03/2015, 08:03:43 UTC
http://www.bloomberg.com/news/articles/2015-02-22/greenback-is-king-as-zimbabweans-favor-candy-over-local-coins?hootPostID=e44ced00192fdb94854d0b24733d9fd1

Quote
Coins Disrespected

“The coins aren’t backed by anything and people know that, hence the resistance,” Harare-based economist John Robertson said in a telephone interview Jan. 16.


 Grin so ... use bitcoin instead ... with direct print from paper wallet  Cheesy
They'll need to create a quadrillion zimbabwean dollars and beyond.. why the fuck they just don't end it and accept bitcoin? probably becuase they are too dumb, dumb enough to create this:



On 16 January 2009, the Reserve Bank of Zimbabwe announced the printing of the 100 trillion dollar banknote. At the time of announcement, this banknote was worth 300 US dollars, which meant that it would cost 300 billion Zimbabwe dollars for a loaf of bread. How insane is that?

They are selling them online as a novelty item now... it has even more value now.  Grin Grin

When your currency reach those levels, it would be more cost effective to use it as toilet paper. I still have one of those notes somewhere from the times when I did some contract work in Africa.

I know, after World war II in the depression times, people got paid with wheelbarrows full of cash...  https://keripeardon.files.wordpress.com/2013/06/a16e0-090107-weimar.jpg?w=189&h=152

It becomes better to barter for goods and avoid cash completely. { I give you 12 eggs for a bread } kind of thing.... who needs cash?  Grin