THIS WILL MAKE U CRY..... by Doncle 2015/06/12 08:55
Zimbabwe All most A Failed State.
Zimbabwe is phasing out its local currency, the central bank says, formalising a multi-currency system introduced during hyper-
inflation.
As inflation hit six years ago, foreign currencies like the US dollar and South African Rand came into use.
From Monday, Zimbabweans can exchange bank accounts of up to 175 quadrillion (175,000,000,000,000,000) Zimbabwean dollars for five US dollars (US*5). Higher balances will be exchanged at a rate of Z*35 quadrillion to US*1.
The move has been "pending and long outstanding," central bank Governor John Mangudya said.
"We cannot have two legal currency systems. We need therefore to safeguard the integrity of the multiple-currency system or dollarization in Zimbabwe."
Zimbabweans have until the end of September to exchange their local dollars.
Hyper-inflation saw prices in shops change several times a day, severe shortages of basic goods and Zimbabweans taking their
money to market in wheelbarrows.
The last bank note printed by Zimbabwe was for Z*100bn, still not enough for a bus ticket.
Zimbabwe's economy has struggled since a government programme seized mostly white-owned farms in 2000, causing exports to tumble.
Zimbabwe All most A Failed State.
Zimbabwe is phasing out its local currency, the central bank says, formalising a multi-currency system introduced during hyper-
inflation.
As inflation hit six years ago, foreign currencies like the US dollar and South African Rand came into use.
From Monday, Zimbabweans can exchange bank accounts of up to 175 quadrillion (175,000,000,000,000,000) Zimbabwean dollars for five US dollars (US*5). Higher balances will be exchanged at a rate of Z*35 quadrillion to US*1.
The move has been "pending and long outstanding," central bank Governor John Mangudya said.
"We cannot have two legal currency systems. We need therefore to safeguard the integrity of the multiple-currency system or dollarization in Zimbabwe."
Zimbabweans have until the end of September to exchange their local dollars.
Hyper-inflation saw prices in shops change several times a day, severe shortages of basic goods and Zimbabweans taking their
money to market in wheelbarrows.
The last bank note printed by Zimbabwe was for Z*100bn, still not enough for a bus ticket.
Zimbabwe's economy has struggled since a government programme seized mostly white-owned farms in 2000, causing exports to tumble.
Boet 2015/06/12 13:25
A very, very sad tale of what happens when a mad dictator is alowed to wreak havoc for so many years! The world at large should have stepped in aeons ago,to rescue Zimbabwian citizens from the hopelessness they experience
A very, very sad tale of what happens when a mad dictator is alowed to wreak havoc for so many years! The world at large should have stepped in aeons ago,to rescue Zimbabwian citizens from the hopelessness they experience
Xiao Zen 2015/06/14 04:59
Fair enough but how would the international community have stepped in? He is a bad leader yes but he is also the president of a sovereign nation with the backing of its armed forces. Wars waged by external powers to affect internal regime change have historically ended badly for the countries citizens, at least that has been the case in our lifetime.
So with armed intervention being a non-option what of economic intervention, well that is what the international community did, we imposed sanctions. And today Rob Mugabe still lives comfortably, lacking for nothing although the same cannot be said for many of Zimbabwe's people.
Quote: Boet: A very, very sad tale of what happens when a mad dictator is alowed to wreak havoc for so many years! The world at large should have stepped in aeons ago,to rescue Zimbabwian citizens from the hopelessness they experience
Fair enough but how would the international community have stepped in? He is a bad leader yes but he is also the president of a sovereign nation with the backing of its armed forces. Wars waged by external powers to affect internal regime change have historically ended badly for the countries citizens, at least that has been the case in our lifetime.
So with armed intervention being a non-option what of economic intervention, well that is what the international community did, we imposed sanctions. And today Rob Mugabe still lives comfortably, lacking for nothing although the same cannot be said for many of Zimbabwe's people.
Doncle 2015/06/15 09:26
the citizens are always at the receiving end...
Quote: Opium:
Fair enough but how would the international community have stepped in? He is a bad leader yes but he is also the president of a sovereign nation with the backing of its armed forces. Wars waged by external powers to affect internal regime change have historically ended badly for the countries citizens, at least that has been the case in our lifetime.
So with armed intervention being a non-option what of economic intervention, well that is what the international community did, we imposed sanctions. And today Rob Mugabe still lives comfortably, lacking for nothing although the same cannot be said for many of Zimbabwe's people.
Fair enough but how would the international community have stepped in? He is a bad leader yes but he is also the president of a sovereign nation with the backing of its armed forces. Wars waged by external powers to affect internal regime change have historically ended badly for the countries citizens, at least that has been the case in our lifetime.
So with armed intervention being a non-option what of economic intervention, well that is what the international community did, we imposed sanctions. And today Rob Mugabe still lives comfortably, lacking for nothing although the same cannot be said for many of Zimbabwe's people.
the citizens are always at the receiving end...
detrimentum 2015/06/17 17:22
like the russian and french revolusion, dictatorship is stopped and a dictator is overthrown using violence... No dictator steps down peacefully or stay in power using peace. Zimbabweans are clearly not that violent. They dont have rebels like in Kenya who panga you to death. They are probably waiting for him to die. Which he eventually will and then Zimbabwe can go back to the wonder it has always been. Mugabe is a small little man who wanted land he had no knowledge of working... The illusion of owning land. When the land belongs to the hungry consumer. Take the land by force and people will starve.. Buy the land and allow the farmer to share his knowledge and the consumer stays fed and the economy keeps moving... And no one gets bitten in the ass by a majestic albino lion climbing the fence at the border!
like the russian and french revolusion, dictatorship is stopped and a dictator is overthrown using violence... No dictator steps down peacefully or stay in power using peace. Zimbabweans are clearly not that violent. They dont have rebels like in Kenya who panga you to death. They are probably waiting for him to die. Which he eventually will and then Zimbabwe can go back to the wonder it has always been. Mugabe is a small little man who wanted land he had no knowledge of working... The illusion of owning land. When the land belongs to the hungry consumer. Take the land by force and people will starve.. Buy the land and allow the farmer to share his knowledge and the consumer stays fed and the economy keeps moving... And no one gets bitten in the ass by a majestic albino lion climbing the fence at the border!
Doncle 2015/06/17 17:57
Quote: ethereal: like the russian and french revolusion, dictatorship is stopped and a dictator is overthrown using violence... No dictator steps down peacefully or stay in power using peace. Zimbabweans are clearly not that violent. They dont have rebels like in Kenya who panga you to death. They are probably waiting for him to die. Which he eventually will and then Zimbabwe can go back to the wonder it has always been. Mugabe is a small little man who wanted land he had no knowledge of working... The illusion of owning land. When the land belongs to the hungry consumer. Take the land by force and people will starve.. Buy the land and allow the farmer to share his knowledge and the consumer stays fed and the economy keeps moving... And no one gets bitten in the ass by a majestic albino lion climbing the fence at the border!
thank you very much..
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