Obsolete coins cause chaos in Zimbabwe!

[123tim]

"HARARE, Zimbabwe - Zimbabweans dug out coins squirreled away years ago in jars and cupboards and headed for the shops, where lines built up as overburdened tellers more accustomed to counting mounds of hyper-inflated dollar notes instead were juggling silver."

http://news.yahoo.com/s/ap/20080802/...we_money_chaos


I don't think that these coins have any actual silver in them.

[JosephTheLibertarian]

"HARARE, Zimbabwe - Zimbabweans dug out coins squirreled away years ago in jars and cupboards and headed for the shops, where lines built up as overburdened tellers more accustomed to counting mounds of hyper-inflated dollar notes instead were juggling silver."

http://news.yahoo.com/s/ap/20080802/...we_money_chaos


I don't think that these coins have any actual silver in them.

Thanks. That's interesting. The government over there is god damn ignorant. Why bother sending them any aid? The people running that country deserve death.

Embattled President Robert Mugabe blamed profiteers and Western sanctions for the economic chaos in the southern African nation and this week warned that if businesses tried to cash in on the mess, he would impose a state of emergency.

What a piece of $#@!!

[noxagol]

Yeah, guess who put that $#@!tard in charge cause I think it was the US.

[JosephTheLibertarian]

Yeah, guess who put that $#@!tard in charge cause I think it was the US.

Well, I'm not sure. They started with thir first free elections in 1979, then Robert Mugabe, the nation's first prime minister, basically just ceased power, and has been in the power seat ever since. His radical land reforms has led to a mass exodus of white farmers, this has crippled the economy. He ran the whites out...

Not sure if he has any US support...

[strapko]

I guess G edward Griffin was correct, once you get to that stage people wont give a $#@! about legal tender laws, and use gold/silver/cigs/anycommodity.

On a side note: aren't central banks awesome, first they devalue the currency to nothing... then they say 'ah! We got the solution NEW FIAT CURRENCY.' Everyone cheers and knows that government will protect them <-lol.

Do you think any of the citizens realize what caused the destruction of their currency?

[JosephTheLibertarian]

I guess G edward Griffin was correct, once you get to that stage people wont give a $#@! about legal tender laws, and use gold/silver/cigs/anycommodity.

On a side note: aren't central banks awesome, first they devalue the currency to nothing... then they say 'ah! We got the solution NEW FIAT CURRENCY.' Everyone cheers and knows that government will protect them <-lol.

Do you think any of the citizens realize what caused the destruction of their currency?

Well, they hav the guns

[Fox McCloud]

Do you think any of the citizens realize what caused the destruction of their currency?

The smart ones probably knew eons ago....or they've already left....in general though, I'm sure a lot buy the government's rhetoric, whatever it may be.

The Mogambo Guru believes that the USD will be so inflated that the Fed will eventually void the USD and come out with silver certificates (this will be the new currency for every transaction)...he said, though, that it'll be a silver-standard in name only and that it'll just be another fiat currency to keep the people satisfied (it won't be a classical silver standard and it won't even be a silver exchanged standard---it'll be literally backed by nothing). Worse yet, he believes that the vast majority of the public will fall for it and go on about their lives like nothing ever happened.

If the government ever does this, you can bet I'll be one of those who routinely demands silver bullion with my cash...just to prove that the system is BS.

[noxagol]

The smart ones probably knew eons ago....or they've already left....in general though, I'm sure a lot buy the government's rhetoric, whatever it may be.

The Mogambo Guru believes that the USD will be so inflated that the Fed will eventually void the USD and come out with silver certificates (this will be the new currency for every transaction)...he said, though, that it'll be a silver-standard in name only and that it'll just be another fiat currency to keep the people satisfied (it won't be a classical silver standard and it won't even be a silver exchanged standard---it'll be literally backed by nothing). Worse yet, he believes that the vast majority of the public will fall for it and go on about their lives like nothing ever happened.

If the government ever does this, you can bet I'll be one of those who routinely demands silver bullion with my cash...just to prove that the system is BS.

I've started demanding payment in silver or gold anytime I charge people for some service.

[Dr.3D]

On a side note: aren't central banks awesome, first they devalue the currency to nothing... then they say 'ah! We got the solution NEW FIAT CURRENCY.' Everyone cheers and knows that government will protect them <-lol.

Not to mention, they always have to make sure their member banks are funded and thus can't go out of business. This way, they can steal more money from the people and tell the people it is for their own good. After all, 'the people need those banks or their economy will go bust'.

[JosephTheLibertarian]

I've started demanding payment in silver or gold anytime I charge people for some service.

Not everyone can do that...ha. They would say "WTF?" I know I'd say "ok, no thanks"

[noxagol]

Not everyone can do that...ha. They would say "WTF?" I know I'd say "ok, no thanks"

In that case I just charge whatever it would cost to go buy the silver. Though, I don't do much for other people any how heh.