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Zimbabwe Bank Issues $500million dollar note

No it is not worth a lot like 2 US dollars worth.

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Zimbabwe bank issues $500m note A 10m Zimbabwe dollar note was issued earlier this year The central bank has issued a 500m Zimbabwe dollar banknote, worth US$2, to try to ease cash shortages amid the world's highest rate of inflation. The previous highest denomination note was for Z$250m, issued 10 days ago. Meanwhile, the opposition has rejected the move to delay the presidential run-off, possibly until July, saying it was a government ploy to stay in power. It called for an emergency regional summit, urging neighbouring countries to take "firm resolutions". Movement for Democratic Change (MDC) leader Morgan Tsvangirai gained more votes than President Robert Mugabe in the first round on 29 March, but did not pass the 50% threshold to be elected, according to the official results. "We would like to express our great outrage at that disregard of Zimbabwe's laws and the people's will," MDC Secretary General Tendai Biti told a news conference in South Africa. In a statement, he said the Southern African Development Community (Sadc) should "take note of the massacres taking place in the country". Meanwhile, an election observer group has appealed for clothing, bedding and food for monitors affected by the violence. The Zimbabwe Election Support Network deployed 8,000 monitors for the March polls and says some of its members have been assaulted and had their homes burnt down, with new cases daily. Zimbabwe's annual inflation rate is 165,000% and one economist said prices now double every week. 'Survive' "Prices are now doubling every week instead of every month and it is hard to see how we can survive to the end of June or how an election will be feasible at all if things continue to deteriorate at this pace," said Harare economist John Robertson, according to the AP news agency. The two rivals are to face each other again before the end of July This is the fourth set of new banknotes to be introduced this year. At independence in 1980, one Zimbabwe dollar was worth more than US$1. Just one in five of the adult population is believed to have a formal job and some three million people have left the country for a new life in South Africa. The economy has been in trouble for several years, with supplies of basic foodstuffs, cooking oil and petrol all running low. The government has also suspended import duty on some basic goods, such as cooking oil, rice and soap in a bid to counter inflation. The run-off was due to be held by 23 May - 21 days after the results of the first round were announced - but the government has issued an emergency law to give it 90 days to organise the new poll. The Zimbabwe Electoral Commission (Zec) said it was not possible to hold the run-off so quickly. Joint investigation But Mr Biti said that Zec's decision was unconstitutional. "In short, Zec's decision cements the coup against the constitution," he said in a statement. He added that 35 people have been killed in a campaign of violence around the country since the election on 29 March, and "thousands displaced, thousands tortured and hundreds of houses burnt". He said that Sadc had so far failed to give decisive leadership on Zimbabwe. He called for the body to send peace observers and monitoring police or an army unit to enforce peace. Meanwhile, the justice minister has proposed establishing cross-party teams to probe acts of political violence. "Whenever there is a claim of an act of politically motivated violence committed, it should be very good that we form joint teams made up of the Zanu-PF and MDC so that we can establish the veracity of these claims," Patrick Chinamasa told state television. The MDC had threatened to boycott the second round of voting after accusing Zanu-PF of trying to rig it but over the weekend Mr Tsvangirai said he would take part. He has been in neighbouring countries since the first round because of alleged threats to his life. But the MDC said on Wednesday that Mr Tsvangirai would return to address a rally in Bulawayo on Sunday

thats sad

Re: Re: Zimbabwe Bank Issues $500million dollar note

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Originally posted by ******** I'm betting there are more multibillionaires in zimbabwe than the US or Canada... hmm, now the nigerian letter scams may make more sense... if the USD is a way of saying "us" dollar or our dollar. I think they would be smarter to introduce a "new system" Like in Turkey - New Lyra or whatever it was.. so that 500M would be 5$ NZD dropping off 100,000,000 or 8 decimal places of their currency I'm geussing it would save printing costs. It is ludicrist though.. they may as well just "pause the system" stop printing notes totally, and declare economic collapse, there is no reasonability to the system, they should be using a stable currency for the time being like the chinese yuan.Which holds relatively stable value. EDIT YUAN = RNB

RMB ;-)

Mugabe is the quintessential tyrant. He's fooling nobody.

Gotta love central banking

Definition of a failed state: Zimbabwe.

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Carter shocked by Zimbabwe crisis Former US President Jimmy Carter has said the crisis in Zimbabwe is "far worse" than he had imagined. Mr Carter is one of a group of world leaders, known as the Elders, who were refused entry visas for Zimbabwe to assess the humanitarian situation. He was speaking in Johannesburg after talks with South Africa's leaders. Zimbabwe's rivals are to meet on Tuesday in South Africa to salvage a power-sharing deal, South Africa's president has announced. The head of the country's ruling African National Congress, Jacob Zuma, said the situation in Zimbabwe was beyond "wait and see". "We have got to act and act now," he said. In a joint statement, the Elders - a group set up to tackle world conflicts - said the scale of the crisis "must be acknowledged and addressed by Zimbabwe's leaders". They also urged neighbouring countries to act immediately to tackle the problems of cholera and refugees. 'Broken down' Speaking in Johannesburg on Monday, Mr Carter said: "The crisis in Zimbabwe is much greater, much worse than anything we had ever imagined." He described the government in Harare as unwilling to communicate and said President Robert Mugabe did not want to admit that there was a crisis, preferring to blame problems on what Mr Carter called "non-existent sanctions". "There are no economic sanctions against Zimbabwe and [Mr Mugabe] does not want to admit that there is a need for assistance," he said. The country's basic structure was "broken down", Mr Carter added, with provision of food, healthcare and education all serious problems. He pointed to the cholera epidemic that has swept Zimbabwe, killing at least 300 people and affecting some 6,000. quote: ELDERS' RECOMMENDATIONS -All political parties should implement the power-sharing deal as a matter of urgency and work to form an inclusive government -Donors should give enough to meet emergency humanitarian needs, including $140m to feed people until April; humanitarian agencies must have free access -Region should set up medical task force to treat those affected by cholera and contain its spread -Government, helped by donors, should ensure emergency treatment of water sources -Government, helped by aid agencies, should encourage teachers back to school with adequate pay, housing and food -SADC region needs to acknowledge that the crisis in Zimbabwe is affecting its neighbours and should be addressed immediately Normally the disease would be expected to kill 1% of patients, Mr Carter said, but the toll in Zimbabwe was much higher because huge inflation meant hospitals could not afford basic drugs. He added that as the crops had failed this year, the next harvesting opportunity would be April 2010. Fellow Elder and former UN Secretary General Kofi Annan added that there was a $140m shortfall between the aid provided by the international community and what was required. The international aid community would need to find $550m next year, he said. He also said that the regional group SADC (Southern African Development Community) could have - and should have - done more to tackle the situation. Kofi Annan's fears for Zimbabwe Aid groups say Zimbabwe is facing a major humanitarian crisis, with nearly half the population needing food aid by early next year. Nelson Mandela's wife, Graca Machel, the third member of the group and a human rights activist, said: "We have a sense that either the leadership doesn't have a clear picture of how deep the suffering is of their own people, or they don't care." The three have said the sole aim of their trip on behalf of the Elders was to help people in Zimbabwe, and that they had no intention of becoming involved in any political negotiations. 'Strong words' The Elders' comments came shortly after Mr Zuma told reporters: "The situation has gone [beyond] where we could say 'wait and see'. "We are pleading for the leadership [of the ruling party and opposition] for the sake of the people to find a solution that would help them move forward." He described as an "unfortunate act" Zimbabwe's decision to refuse visas to Mr Carter, Mrs Machel and Mr Annan. Mr Zuma said the ANC would be sending a delegation to Zimbabwe to push for a political solution to the crisis. Zimbabwean President Robert Mugabe's Zanu-PF and the opposition Movement of Democratic Change (MDC) are in a power-sharing stand-off following disputed presidential elections earlier this year. They have agreed to form a government of national unity but been unable to agree on who should fill key ministries. "Let us find a way to implement the agreement for the sake of Zimbabweans," Mr Zuma said. "We cannot stay with the agreement without implementing it. It is now an urgent matter, people are dying." These are some of his strongest words so far on the situation in Zimbabwe, the BBC's Peter Biles in Johannesburg says. Last week, South Africa said it would withhold some $28m of aid until a representative government was formed. Story from BBC NEWS: http://news.bbc.co.uk/go/pr/fr/-/2/...ica/7746229.stm

The police and army of Zimbabwe are pathetic. They stand by as their country falls apart and support the one who destroyed it.

a coming attraction for america I'm afraid...

The Elders is such an egoistic, weird name

people should invest in percious metal right away

(that it is if their not just looking to get the very basics-which the large majority are dealing with and cant think in terms of saving for the future)

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Originally posted by Krypton The police and army of Zimbabwe are pathetic. They stand by as their country falls apart and support the one who destroyed it.

man Mugabes henchmen are fucking ruthless man, people are scared shitless to start a movement against him-i guarantee someone will come visit in the middle of the night

good luck Morgan Tsangurai

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Originally posted by Max Thomson a coming attraction for america I'm afraid...

Nothing of the sort, i for one for see a major drop in the euro.

im a mofukin billionaire cheeeaaaaaaa

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Originally posted by Capitalizt Gotta love central banking

youre a fucking idiot.

Re: Re: Zimbabwe Bank Issues $500million dollar note

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Originally posted by ******** Why not just issue us currency or another countries currency print some off covertly and import stuff?

gee, i dunno. maybe because its illegal?

If true, this could be the beginning of the end for Mugabe.

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Soldiers rampage at Harare bank Dozens of troops have run amok in the Zimbabwean capital Harare after losing their temper while queuing up to withdraw cash at a bank. Riot police used tear gas to disperse about 40 soldiers and a number of civilians who joined the protest. A local journalist told the BBC troops had looted shops and assaulted passers-by, before the authorities managed to restore control. The disorder comes as much of Harare is without water amid a cholera outbreak. Zimbabwean journalist Brian Hungwe told the BBC Focus on Africa programme: "It's unprecedented. "We've never seen members of defence forces marching in towns, breaking into shops and looting. People are very, very shocked." 'Enough is enough' The military is seen as one of President Robert Mugabe's core supporters and was accused of taking part in a campaign of violence against the opposition during this year's elections. Correspondents say that the president's grip on power would be severely weakened if the security forces stopped backing him. The soldiers vented their frustration on Monday after waiting all day in a long queue at a bank. Mr Hungwe said the troops urged civilians to join them, leading a number of passers-by to begin shouting: "Enough is enough, let's join the soldiers." Some riot police stood by smiling as the defence force members ran amok, Mr Hungwe said, before the authorities moved in to disperse the protesters. He said riot police were still on the streets and there was no sign of the soldiers behind the protest. The Associated Press news agency reported that gunfire had broken out in central Harare and that hundreds of people had gathered. Some people threw stones but others cheered on police as they tackled the unarmed troops, who had attacked money-changers, according to AP. Because of a national cash shortage, Zimbabweans can only withdraw small amounts of money every day - often barely enough to buy a loaf of bread. The country's economic freefall has been accelerating and the latest annual inflation rate was 231,000,000%. Just one adult in five is estimated to have a regular job. Earlier, the state-owned Herald newspaper reported that water in the capital had been cut because of a shortage of purification chemicals, as authorities try to contain a cholera outbreak. At least 425 people have died in recent months from the disease, which is spread by contaminated water. The outbreak has been fuelled by the collapse of Zimbabwe's health and sanitation systems. The disease is easily treatable but hospitals lack medicines and staff. The health minister said people should stop shaking hands to prevent the disease spreading. Story from BBC NEWS: http://news.bbc.co.uk/go/pr/fr/-/2/...ica/7759060.stm

Hopefully it won't be too late for the population - if Mugabe doesn't go soon, the people will surely die of thirst.

even if mugabe DOES go, how exactly will the new executive be able to fix the calamities plaguing the country?

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Originally posted by pkcRAISTLIN even if mugabe DOES go, how exactly will the new executive be able to fix the calamities plaguing the country?

He won't - right now what they need is someone who can stop the bleeding. And at this point I'm willing to put the needle and thread in anybody's hands.

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Originally posted by Lebezniatnikov He won't - right now what they need is someone who can stop the bleeding. And at this point I'm willing to put the needle and thread in anybody's hands.

well, if you're really that desperate i think george bush will have a free schedule soon

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Originally posted by pkcRAISTLIN well, if you're really that desperate i think george bush will have a free schedule soon

Honestly... Dick Cheney would be preferable to Mugabe.

Re: Re: Re: Re: Zimbabwe Bank Issues $500million dollar note

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Originally posted by ******** Pusha it ain't illegal if you make the laws too, stupid.

oh right. so the laws in zimbabwe would overide the laws in the US that specifically target conterfeiting of its currency?

how bout you stop smoking drugs and return to reality before posting such nonsensical bullshit.

Re: Re: Zimbabwe Bank Issues $500million dollar note

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Originally posted by ******** It is ludicrist though.. they may as well just "pause the system" stop printing notes totally, and declare economic collapse, there is no reasonability to the system, they should be using a stable currency for the time being like the chinese yuan.Which holds relatively stable value. EDIT YUAN = RNB

That's just absolutely ludicrist.

Re: Re: Re: Re: Re: Re: Zimbabwe Bank Issues $500million dollar note

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Originally posted by ******** In Zimbabwe, yes.

oh right, must'nt be against any body else's laws then and they sure wouldn't get caught!

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Originally posted by ******** Since when have I smoked drugs? It makes absolute sense. Personally I find smoked drugs to be second to vapourizers, or digested drugs, as smoke is a carcinogen.

smoke it, stick it up your ass, whatever. your posts show a distinct lack of understanding concerning reality and i posit that you're under the influence almost every time you post. i could be wrong, which just means you're crazy. for your sake i hope its the drugs.

Re: Re: Re: Re: Zimbabwe Bank Issues $500million dollar note

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Originally posted by ******** That post was posted quite a while ago. I still think transfering the dollar over is the answer - BUT - the bankings system and government are closely intwined. It is only a matter of time before the system becomes more ifficient - printng paper and synthetic bills is NOT efficient. While having some money imaginary and other money real is not TRUE. The nature of commodities makes commodities volitile, however some are more secure than others, but it is really a matter of period. System wont change UNTIL a collapse or serious threat of collapse. China is a very strong growth country --- and is not in recession.

tell me what's supposedly wrong with the system.

Re: Re: Re: Re: Re: Re: Re: Re: Zimbabwe Bank Issues $500million dollar note

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Originally posted by ******** OK so does Dubai gets to kill all the gays and lesbians in the US? Whose law?

counterfeiting currency has fucking repercussions you dickhead.

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Originally posted by ******** On the contrary you are an ignorant lap dog, living in the past.

you're living in your tiny mind of half-understood concepts and poor prose.

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