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guerra-monstru
Suspended User



Registered: Jan 2008
Location: D.F., Mexico
Zimbabwe Bank Issues $500million dollar note

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

quote:
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

Old Post May-17-2008 20:10 
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Sunsnail
Global Moderator



Registered: Sep 2004
Location:

thats sad

Old Post May-17-2008 22:16 
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ali92
Supreme tranceaddict



Registered: Dec 2001
Location: Fishtown, Philadelphia
Re: Re: Zimbabwe Bank Issues $500million dollar note

quote:
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 ;-)

Old Post May-19-2008 03:03  United Nations
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Krypton
83.798 g/6.022x10^23



Registered: Nov 2003
Location: Texas

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


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Old Post May-19-2008 03:08  Korea-Democratic Peoples Republic
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Capitalizt
Supreme tranceaddict



Registered: Feb 2005
Location: USA

Gotta love central banking

Old Post May-19-2008 06:26  United States
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Lebezniatnikov
Stupidity Annoys Me



Registered: Feb 2004
Location: DC

Definition of a failed state: Zimbabwe.

quote:
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


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Old Post Nov-25-2008 04:12  United Nations
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Krypton
83.798 g/6.022x10^23



Registered: Nov 2003
Location: Texas

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


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Old Post Nov-25-2008 05:02  Korea-Democratic Peoples Republic
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Max Thomson
synthetic kinda love



Registered: May 2004
Location: Berkeley, California

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


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Old Post Nov-25-2008 06:22  United States
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Sunsnail
Global Moderator



Registered: Sep 2004
Location:

The Elders is such an egoistic, weird name

Old Post Nov-25-2008 07:03 
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Damerchi
Supreme tranceaddict



Registered: Nov 2005
Location: .

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)

Old Post Nov-30-2008 23:17  United Nations
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Damerchi
Supreme tranceaddict



Registered: Nov 2005
Location: .

quote:
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

Old Post Nov-30-2008 23:20  United Nations
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Stef
come @ me bro



Registered: Aug 2007
Location: NYC

quote:
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.


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Old Post Dec-01-2008 00:06 
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