Zimbabwe is at 2.2 million percent inflation and knocking zeros off

[muh_roads]

I should buy one of those 100 billion dollar bills while they're still around.

lol

Don't worry, I don't think they are going anywhere.

 

[Bruno]

www.shadowstats.com is a good place for real inflation rates--no way in hell is the government even remotely telling the truth when it comes to inflation--how can the market prove them wrong when it basically trusts the government?

Either way, it started in the Evil and Maniacal Days of Terror Under Greenspan (EMDTUG) that M3 was ignored since it, as I recall him saying "doesn't fit our current models"...so it should be of no surprise that M3 isn't being reported anymore.

There's a lot of good educational reading on that site. Thanks for sharing it.

 

[Pauls' Revere]

Here's more...

Just what the hell is America doing to influence The World Bank to clear Zimbabwe of it's 1.2 BILLION debt?

Anyone have any info/ideas?

http://allafrica.com/stories/200812230116.html

From Article:

We were prepared to use American influence to negotiate with the World Bank and the International Monetary Fund to clear the $1.2 billion Zimbabwe debt, but now we are no longer prepared to do that," Frazer told AFP.

Frazer is our assistant Sec of State for African Affairs.

 

[heavenlyboy34]

"Those that do not learn from history are condemned to repeat it."

Indeed, sensei.

 

[sam9657]

Sure I do. They can't just leave the number unaccounted for - it'd be inviting disaster because eventually, they'd have to acknowledge that either the standard of living is dropping dramatically and America is unproductive or that America is suddenly in an incredible depression.

Wall Street will correct the government if they don't do it themselves, and those capitalist-minded fellows are ruthless and unforgiving.

Until I see numbers from a source I know to be independent (i.e. NOT from libertarians/conservatives with something to prove) I trust the gov't numbers. For now, the market is correcting the Fed-made monetary bubble.

ROFL, this is one of the funniest posts I have read on the forums. You made my day.

 

[BlackTerrel]

Africa wouldn't be in the hole they are if Westerners hadn't screwed it up. It's going to take a lot to turn it around. The West should pay reperations to Africa just like the Nazi's paid reperations to the Jews.

There's a reason every single African country is messed up.

 

[Chosen]

Mexico did this very thing a few years back-1993-when the peso was in Zimbabwe status. They lopped off a few zeros. However, this was a preliminary step to NAFTA, the US and Canada absorbed a great deal of their debt and conned the imf for a great deal more. Taxpayers have essentially been paying for Mexico's currency debacle ever since.

Zimbabwe could easily just switch to a greenback system, but they don't have the intellectual infrastructure to make that transition.


Reparations? This would mean that various African nations would have to pay reparations to one another, it was a continent screwed up long before Europeans arrived. Sure there were discrepancies, but this is what happens when someone from the pre-Industrial age meets someone in the Stone Age, exploitation was bound to occur. For the Europeans who obtained slaves, there was already a slave selling infrastructure in place, the African slave dealers just found a new market.

The Western world has poured trillions of dollars into Africa over a long period of time, it doesn't help. Pooring money into corruption just foments it. A cultural change has to take place, but when this has been attempted it has been labeled racist and Western colonialism. Besides, many African nations are still tribal economies and structures. Giving them Western money will do nothing to stop ethnic violence and murder.

Take AIDS for example. This spread has nothing to do with the West, it mostly has to do with cultural practices. Non use of condoms, in South Africa it is rape which accounts for a large portion of disease spreading. Some South Afrcans have raped infants, claiming that the act would remove their HIV infection. Money from reparations would not change something like this. People are responsible for themselves is the point here...

BTW, Nazi's never paid reparation to the Jews, some German companies did.

 

[The_Orlonater]

Oh, Zimbabwe.

 

[The_Orlonater]

BTW, Nazi's never paid reparation to the Jews, some German companies did.

I heard Germany gave like 6 billion to Isreal.

I wonder why people are still paying for this crap?

 

[ThePieSwindler]

I should buy one of those 100 billion dollar bills while they're still around.

At less than a penny, youll have to overpay if you want one.

 

[BlackTerrel]

Mexico did this very thing a few years back-1993-when the peso was in Zimbabwe status. They lopped off a few zeros. However, this was a preliminary step to NAFTA, the US and Canada absorbed a great deal of their debt and conned the imf for a great deal more. Taxpayers have essentially been paying for Mexico's currency debacle ever since.

Zimbabwe could easily just switch to a greenback system, but they don't have the intellectual infrastructure to make that transition.


Reparations? This would mean that various African nations would have to pay reparations to one another, it was a continent screwed up long before Europeans arrived. Sure there were discrepancies, but this is what happens when someone from the pre-Industrial age meets someone in the Stone Age, exploitation was bound to occur. For the Europeans who obtained slaves, there was already a slave selling infrastructure in place, the African slave dealers just found a new market.

The Western world has poured trillions of dollars into Africa over a long period of time, it doesn't help. Pooring money into corruption just foments it. A cultural change has to take place, but when this has been attempted it has been labeled racist and Western colonialism. Besides, many African nations are still tribal economies and structures. Giving them Western money will do nothing to stop ethnic violence and murder.

Take AIDS for example. This spread has nothing to do with the West, it mostly has to do with cultural practices. Non use of condoms, in South Africa it is rape which accounts for a large portion of disease spreading. Some South Afrcans have raped infants, claiming that the act would remove their HIV infection. Money from reparations would not change something like this. People are responsible for themselves is the point here...

BTW, Nazi's never paid reparation to the Jews, some German companies did.

You can sugar coat it all you want but going into a country, taking out millions of there most fit individuals and enslaving them. Taking resources, pitting one against the other, ruling for a while then just pulling out and say your hands are clean doesn't work. Pretty much every single poorest nation on earth is in Africa, excluding maybe Egypt which isn't black and never had their citizens sold as slaves. It's not a coincidence.

I don't think throwing money at it is necesarily the solution, but the West caused it and it's their duty to fix it.

 

[Fox McCloud]

I don't think throwing money at it is necesarily the solution, but the West caused it and it's their duty to fix it.

http://www.spiegel.de/international/spiegel/0,1518,363663,00.html

the IMF doesn't help out either.

the best thing we could do is pull out of the IMF and stop funding it...that'd put a dent into it, then stop giving them money.

that won't solve all the problems, as some of Africa's problems are self-generated, but it'd certainly help.