Zimbabwe to print own version of US dollar

[webfact]

Zimbabwe to print own version of US dollar

Zimbabwe is set to print its own version of the US dollar in order to ease a cash shortage in the country.

Central bank governor John Mangudya said the cash, known as bond notes, will be backed by $200m (£140m) support from the Africa Export-Import Bank.

The two, five, 10 and 20 dollar notes will have the same value as their US dollar equivalents.

Full story: http://www.bbc.com/news/world-africa-36210680


-- BBC 2016-05-05

[catterwell]

Fake copies of a bankrupt currency might become collectors items ...

[craigt3365]

Love that 50 billion dollar note! 5555

[Scott]

Some time ago I read something about Zimbabwe using the Chinese Yuan. What happened to that plan?

[roquefort]

Love that 50 billion dollar note! 5555

I have the 50 trillion dollar version.

Coming to a bank near you soon!

[ehs818]

And all of those denominations still won't actually be worth even one US Dollar!

[sanukjim]

Remember when the EURO was going to replace the US Dollar ? The quote was " All monetary units in the world will be tied to the new Euro replacing the US Dollar" At the start it was twice the value of the dollar but now the old Green Back is valued at 29 percent more.Any one want to buy any Saudi Rials ?

Edited May 6, 2016 by sanukjim

[wabothai]

I bet daddie's printers will have to work overtime 24/7.

[bangkapi]

I read recently that Zimbabwe was officially adopting the Chinese renminbi/yuan as its formal currency and that Zimbabwe had become a de facto colony of China. Things change fast.

[bendejo]

Some of these less-than-developed countries have their currency minted in other countries. I wonder who prints theirs.

[puck2]

Remember when the EURO was going to replace the US Dollar ? The quote was " All monetary units in the world will be tied to the new Euro replacing the US Dollar" At the start it was twice the value of the dollar but now the old Green Back is valued at 29 percent more.Any one want to buy any Saudi Rials ?

Did you use an an extraterrestrial math ?

Todays (Euro) VISA exchange rate is

100.00 Euro = 115.19 United States Dollar

* * * * *

1 Euro = 1.1519000000 United States Dollar

- Or -

1 United States Dollar = 0.8681309141 Euro

The € was introduced officially in 2002.

from:

http://www.statista.com/statistics/412794/euro-to-u-s-dollar-annual-average-exchange-rate/

Edited May 6, 2016 by puck2

[mgjackson69]

Zimbabwe will have two currencies, one that is pegged to the US Dollar...big deal.

[Cats4ever]

Obviously this is a version of quantative easing that does not meet the approval of the bankers.

[Baerboxer]

But that wise grand old man and imperialist fighter Mugabe and worked a miracle.

He's tuned the once proud and prosperous bread basket of Africa into a bankrupt economic disaster.

But, hey, he's been democratically elected, despite the naughty opposition and their nasty tricks, has become massively wealthy along with his family and cronies and now watches as his family squabble over the spoils before his death.

And the world watches and smiles.

[elgordo38]

Remember when the EURO was going to replace the US Dollar ? The quote was " All monetary units in the world will be tied to the new Euro replacing the US Dollar" At the start it was twice the value of the dollar but now the old Green Back is valued at 29 percent more.Any one want to buy any Saudi Rials ?

I think the greenback is close the point of where your pushing on a string. All that debt they have accumulated has to be repaid you cannot run a country on borrowed money forever. There will be a day of reckoning not far off I figure. This house of cards will collapse. Good old Daddy War Bucks is close to the end of his tether.

[bentfarang]

Zimbabwe will have two currencies, one that is pegged to the US Dollar...big deal.

And the other?

[elgordo38]

Remember when the EURO was going to replace the US Dollar ? The quote was " All monetary units in the world will be tied to the new Euro replacing the US Dollar" At the start it was twice the value of the dollar but now the old Green Back is valued at 29 percent more.Any one want to buy any Saudi Rials ?

I think the greenback is close the point of where your pushing on a string. All that debt they have accumulated has to be repaid you cannot run a country on borrowed money forever. There will be a day of reckoning not far off I figure. This house of cards will collapse. Good old Daddy War Bucks is close to the end of his tether.

If the US keeps going into the red the way they are the Zimbabwe dollar might be on a par with the greenback.

[bentfarang]

There is currently no such thing as Zim Dollar. It has been demonitised already.

[mgjackson69]

But that wise grand old man and imperialist fighter Mugabe and worked a miracle.

He's tuned the once proud and prosperous bread basket of Africa into a bankrupt economic disaster.

But, hey, he's been democratically elected, despite the naughty opposition and their nasty tricks, has become massively wealthy along with his family and cronies and now watches as his family squabble over the spoils before his death.

And the world watches and smiles.

"Uncle Bob" and his family and friends have done quite well for themselves, to the detriment of an entire nation.

[ilostmypassword]

Remember when the EURO was going to replace the US Dollar ? The quote was " All monetary units in the world will be tied to the new Euro replacing the US Dollar" At the start it was twice the value of the dollar but now the old Green Back is valued at 29 percent more.Any one want to buy any Saudi Rials ?

I think the greenback is close the point of where your pushing on a string. All that debt they have accumulated has to be repaid you cannot run a country on borrowed money forever. There will be a day of reckoning not far off I figure. This house of cards will collapse. Good old Daddy War Bucks is close to the end of his tether.

If the US keeps going into the red the way they are the Zimbabwe dollar might be on a par with the greenback.

Yes, the U.S. dollar is in deep trouble. I remember when most of the conservative economists were claiming that QE was going to bring on hyperinflation. Any day the U.S. would turn into Weimar Germany. Some people made lots of money on gold catering to that irrational fear. U.S. inflation since 2009 has been on the average slightly over 1%. Foreigners are snapping up Treasury Bills that don't even offer enough of a yield to counter what little inflation there is. What's wonderful about predictions like yours is that don't have a date attached to them. So they can never be proven wrong. When confronted about the continued failure of their predictions, dollar doomsayers reply "Just you wait." And Jesus is coming any day now. Just you wait.

[craigt3365]

Remember when the EURO was going to replace the US Dollar ? The quote was " All monetary units in the world will be tied to the new Euro replacing the US Dollar" At the start it was twice the value of the dollar but now the old Green Back is valued at 29 percent more.Any one want to buy any Saudi Rials ?

I think the greenback is close the point of where your pushing on a string. All that debt they have accumulated has to be repaid you cannot run a country on borrowed money forever. There will be a day of reckoning not far off I figure. This house of cards will collapse. Good old Daddy War Bucks is close to the end of his tether.

Actually, the debt really never has to be paid back. Interesting article. Especially for those claiming the dollar is doomed. LOL

http://www.theatlantic.com/business/archive/2013/02/why-the-us-government-never-ever-has-to-pay-back-all-its-debt/272747/

[Ulic]

Remember when the EURO was going to replace the US Dollar ? The quote was " All monetary units in the world will be tied to the new Euro replacing the US Dollar" At the start it was twice the value of the dollar but now the old Green Back is valued at 29 percent more.Any one want to buy any Saudi Rials ?

No, this is not what I remember at all. You might want to use Google to refresh your

memory, clear the cobwebs.

[MaxYakov]

I guess we can rest assured that Andrew Jackson will definitely not be on the twenty, eh?