Zimbabwean currency == wallpaper

Page 2 of 2 [ 20 posts ] Go to page Previous 1, 2

Joined: 6 Sep 2006
Age: 136
Gender: Male
Posts: 11,911
Location: Mount Herculaneum/England

07 Apr 2009, 7:16 am

What the f**k is the Zimbabwean govt doing about the situation? Has it introduced a new currency yet, as it should have done when the price of a loaf of bread reached $10,000?

_________________
Lalalalai.... I'll cut you up!

LostInEmulation
Veteran
Veteran

Joined: 10 Feb 2008
Age: 42
Gender: Female
Posts: 2,047
Location: Ireland, dreaming of Germany

07 Apr 2009, 8:57 am

Zimbabwe cut the 0s several times. I think in the last 2 years, 22 zeroes were cut off.

_________________
I am not a native speaker. Please contact me if I made grammatical mistakes in the posting above.

Penguins cannot fly because what cannot fly cannot crash!

Dussel
Veteran
Veteran

Joined: 19 Jan 2009
Age: 60
Gender: Male
Posts: 1,788
Location: London (UK)

07 Apr 2009, 10:04 am

Anubis wrote:

What the f**k is the Zimbabwean govt doing about the situation? Has it introduced a new currency yet, as it should have done when the price of a loaf of bread reached $10,000?

The introduction of a new currency is less the problem - it more a problem to introduce a new framework for the currency to avoid in future such an hyper inflation.

You need basically two thinks:

1) A system in which the government can't use the printing press without hesitation to pay its bills

2) A system composed in a way that the people trust

Anubis
Veteran
Veteran

Joined: 6 Sep 2006
Age: 136
Gender: Male
Posts: 11,911
Location: Mount Herculaneum/England

07 Apr 2009, 11:35 am

Dussel wrote:

Anubis wrote:

What the f**k is the Zimbabwean govt doing about the situation? Has it introduced a new currency yet, as it should have done when the price of a loaf of bread reached $10,000?

The introduction of a new currency is less the problem - it more a problem to introduce a new framework for the currency to avoid in future such an hyper inflation.

You need basically two things:

1) A system in which the government can't use the printing press without hesitation to pay its bills

2) A system composed in a way that the people trust

That's a confusing way to word it. A competent government would have come up with a solid currency much sooner. The way it printed loads of money in the first place was outrageous. I don't disagree with printing small amounts of money, though.
The currency needs to be stable and secure, yes. In a way that trade can be carried out normally without weekly or even daily price rises.

_________________
Lalalalai.... I'll cut you up!

Page 2 of 2 [ 20 posts ] Go to page Previous 1, 2

Jump to:

Zimbabwean currency == wallpaper Post Reply New Topic

Zimbabwean currency == wallpaper