HYPERINFLATION ENDS ZIMBABWE DOLLAR - 175 Quadrillion Zimbabwean Dollars Are Now Worth $5 USD
Economy | Information | History | Online | Facts | World | Global | Money
I NEED YOUR HELP - Please Support Us via Patreon http://www.Patreon.com/EliteNWOAgenda SUBSCRIBE to ELITE NWO AGENDA for Latest Updates - http://www.youtube.com/user/elitenwoagenda?sub_confirmation=1 HYPERINFLATION ENDS ZIMBABWE DOLLAR - 175 Quadrillion Zimbabwean Dollars Are Now Worth $5 USD Zimbabwean dollar will be taken from circulation, formalizing a multi-currency system introduced in 2009 to help stem inflation and stabilize the economy. The central bank will offer $5 for every 175 quadrillion, or 175,000 trillion, Zimbabwean dollars, Governor John Mangudya said in an e-mailed statement from the capital, Harare. While it marks the official dropping of the currency, transactions in the southern African nation have been made using mainly the U.S. dollar and rand of neighboring South Africa for six years. “The decommissioning of the Zimbabwean dollar has therefore been pending and long outstanding since 2009,” Mangudya said on Thursday. “We cannot have two legal currency systems. We need therefore to safeguard the integrity of the multiple-currency system or dollarization in Zimbabwe.” The economy plunged into crisis after the government started a campaign in 2000 of violent seizures of white-owned commercial farms to distribute to black subsistence growers, slashing exports of tobacco and other crops. Inflation surged to 500 billion percent and the economy shrank during a near decade-long recession that ended in 2009. Under policies implemented by a coalition government, the economy began expanding and the recognition of foreign currencies as legal tender helped tame inflation. Consumer prices fell an annual 2.7 percent in April, according to the statistics agency. Quadrillion Dollars Zimbabweans can convert their local dollars between June 15 and Sept. 30 at commercial banks, building societies and postal agencies, Mangudya said. Savers with Zimbabwe dollars in their bank accounts will get a flat $5 for anything up to 175 quadrillion Zimbabwean dollars. They can convert any cash they have “on a no questions asked basis” at a rate of $1 to 250 trillion Zimbabwe dollars for notes printed before 2009, Mangudya said. The move demonstrates the central bank’s “commitment to the multiple-currency system,” Mangudya said. Zimbabwe needs to increase its foreign reserves, improve its fiscal management and strengthen the financial sector before it can change the system, he said. Zimbabwe dollar "Zimbabwe dollar" currency usd "united states" money cash wealth wealthy poor poverty banking funding "bank account" savings "savings account" africa charity forex "forex trading" trading account exchange "foreign exchange" "travel money" 2015 2016 future debt loan "credit card" interest "interest rate" monopoly inflation economy shopping gold silver bullion "gold coin" "silver coin" "elite nwo agenda" old bank notes souvenir iraq dinar china rmb yuan global reserve currency fiat currency gerald celente jim rogers max keiser david icke Last month it was revealed that former federal reserve Chairman Alan Greenspan, the architect of U.S. monetary policy under four Presidents, is anticipating a significant market event as a result of the trillions of dollars that have been pumped into the system over the last several years. According to Greenspan, something big is coming. revolutions, when governments have to print the money they need because there’s not much of an economy left to tax—which brings us to Ukraine. It had a revolution broke The price to keep a roof over your head rushed ahead of overall consumer inflation in 2014 as rents spiked up, according to data released Friday. Nobody knows when reality will overtake the rhetoric, lies, phony statistics, wishful thinking, fake prices and tiresome poseurs pretending to be world leaders. The situation is universal, a consequence of incompetent leaders and careless (or ignorant) citizenry. Global problems are continuing to mount, along with the risk that the consequences of years of bad policies and inept leadership compound (as sometimes happens) in a short window of time. Let us start by unpacking some current examples of fakery, and then try to explore the consequences.
Comments
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How can inflation increase to this much extent ?
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On June 15 the Reserve Bank of Zimbabwe took the last step in the process of ditching its currency. Zimbabwe dollars will be decommissioned at a rate of 35 quadrillion per US dollar (that's Z$35,000,000,000,000,000 for US$1). Any remaining Zimbabwe dollars in circulation after September 30 2015 will be officially, as opposed to practically, worthless.
Withdrawing all Zimbabwe dollar banknotes from circulation officially brings an end to the era of people carrying cash around in large bags and even wheelbarrows to do their everyday shopping. In 2009, the end of the decade long recession saw the government adopt the US dollar as its main currency. Since then people have effectively used US dollars or South African rand in everyday life, while an increasingly small number of Zimbabwe dollars (with virtually no value) remained in circulation. -
I had a work mate from Zimbabwe and when he was living their they owned a farm. He was given an ultimatum to leave or face being beaten then having tyres tied around the heads and set alight. No joke. it was common practice.It was basically ethnic cleansing of whites from Zimbabwe and this was only a decade ago. Now its a 3rd world shit hole.
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Zimbabwe was once considered the bread basket of Africa, then the "Blacks" got rid of the whites and from then it turned into a 3rd world shithole....I assume they (Zimbabawe) would accept aid etc from white countries??? oh the irony
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bring back white government..problem solved
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hyperinflation tsunami! coming soon to the USA!
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Mexico was also on inflation weren't they? because there's $1,000 $2,000 $5,000 $10,000 $20,000 $50,000 and $100,000 peso bills banknotes ...because I have those bills they are all from the year 1980s
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To this from the "breadbasket of Africa". Shame on the Western world for letting such an incompetent leader take power in 1980.The blame for this rests squarely on the shoulders of us commonwealth nations for abandoning our Rhodesian cousins in their hour of need. We can only hope that change comes soon to this one great nation.
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The usd is next!!!!!! and its just sadly inevitable!!!!!
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Insightful.
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The Reserve Bank of Zimbabwe contracted the Munich printing company of Giesecke & Devrient to print Zimbabwe hyper inflated banknotes. This was the same company that during the 1920s printed the infamous hyper inflated banknotes for the Weimar Republic. Zimbabwe banknotes in uncirculated condition are popular among currency collectors as absurd examples of hyper inflation. ebay seller libertyambassador auctioned off two separate Ron Paul autographed Zimbabwe $100 Trillion Dollar Bills, each of which sold for over $1,000. Item #250939520993 sold for $1,825.00 on December 4, 2011 @ 17:11:09 PST with 60 bids. Item #251016407399 sold for $1,030.00 on March 17, 2012 @ 21:46:50 PDT with 24 bids. Ron Paul autographed 5 of them after his morning "meet and greet" breakfast at the 3rd annual Florida Liberty Summit during August 19 to 21, 2011 at the Rosen Center Hotel, 9840 International Drive, Orlando, FL 32819.
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'Crisis' hit Zimbabwe wants white farmers back lol
http://www.news24.com/Africa/Zimbabwe/Crisis-hit-Zimbabwe-wants-white-farmers-back-report-20150716 -
Wow. Nuts.
I just shared a short vid on my channel about the chinese stock market collapse. Good video here. Good info my man. -
This is just a sign on what's about to come here in America!! I'm glad that I don't kids LMAO! I can see it clearly a box of Cheerios $75, milk $59.75, eggs $25.95 a dozen! Welcome to the New America!!! ROTFLMAO!!!!! I'm in tears laughing!!! I'm laughing because people like my try to warn others, but resist the truth on what's about to come here in America!! Fuck it then
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So now, after destroying Greece's dollar, they've moved on to Africa's monetary system.
Wow!!! -
Must Watch: WHOLE SYSTEM ABOUT TO COLLAPSE https://www.youtube.com/watch?v=i3Xr3pBEskU
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South Africa is not far behind due to mass corruption. We already have selective electricity called loadshedding.
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What was it worth before the big crisis? Trillion sounds a lot but yen is weird like that too. 100 us dollars is 12.2 thousand yen.
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So what happened to that guy who basically sold everything he owned to buy all these Zimbabwe dollars lol...I'm pretty sure I saw that on this channel? I bet he and if he's married his wife is pretty upset right about now.
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why did they use so many zeros in their money? silly..
Just shave 9 zeros off and we got something.. ;-)
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