It’s about time that Zimbabwe switched off the broken record and admitted that decades of scientific socialism have only yielded abject failure, but Maximum Leader seems intent on forcing the citizens to bang their heads against the wall yet again.
On Friday, Mushayakarara is expected to announce the introduction of a gold-backed currency to replace the worthless local dollar, which is currently trading at around 30,000 to one U.S. dollar and, unlike the South African rand, does not circulate in neighboring countries.
Zimbabwe has introduced and abandoned at least five currencies since independence in 1980, all of which lost value to become almost worthless.
Ah, good ol’ “scientific socialism”. Didn’t hear this term in the last 25 yrs or so. Which is exactly the time to have a new generation of young gullibles to believe this resurrected BS.
It was the German Philosopher Hegel that described Africa as a prehistoric continent. In the context of the trajectories of African and Sub African societies compared to Western nations perhaps those that “caught the boat” ( to paraphrase Chris Rock) ultimately were far better off than their kin folk. Puts a twist on the reparations narrative.
It still fascinates me that we’re told mankind originated in Africa … yet the dark continent (pardon my “incorrect” words) was/is the least advanced of all civilizations? I used to chalk it down to the relatively EASY life in the equatorial regions where food was naturally abundant, clothing was mostly optional, and well … life was relatively easy. But Africa transects far more climate zones than the equatorial … so the primitive state of Africa must be owed to something else entirely. Search me as to what?
Zimbabwe central bank says it has assets worth 2.5 tons of gold
Pedzisayi Sakupwanya, said he delivered 13 tons of gold to the central bank last year.
If it has 2.5 tons of gold, that works about to just under $170 million USD in the central bank, assuming it’s in New York, and not being looted by the employees of the central bank of Zimbabwe.
This is the problem with gold. You can’t use to back a currency. There isn’t enough gold.
Well that is 2.5 tons MORE than canaduh has to back it’s peso.
Lots of truth in this article.
Perhaps most pertinent:
“Tribal societies are essentially communist societies. The colonialization of Africa never eliminated the tribalism and it returned. Canada’s communists are encouraging our apartheid enshrined tribes to do the same despite the futility of a small remnant racial legacy addicted to federal dole and resource shakedown attempting an inverted apartheid.”
In BC every bit of valuable land the feds owned is being transferred to the Indians to “develop”. This usually takes the form of high density, high rise construction that would not be allowed to normal developers, zoning bylaws apparently do not apply. The NDP-NFG (the caforementioned communists) daily infringe on the rights of property owners. They are building tomorrows slums, which they expect people will buy a leasehold interest. UBC discriminates quite blatantly in favour of blacks and other minorities, promoting apartheid.
I actually have some REALLY COOL gold plated Zimbabwe currency.
Wanna make my man cave look like Scrooge McDuck with double sided tape to nifty tape the whole room to look like gold bills.
There isn’t a problem created by socialisms that can’t get cured by even more socialisms.
At least thats what the progressives tell me, with 100% certainty.
Right now an ounce of gold will set you back 3160 Trudeau Dollars
Are they still printing money? Stop printing money. It makes the money you already have worthless.
2.5 tons of gold is $154 million in a $44 billion economy or $285 worthless dollars per dollar of gold. You can’t back your economy with gold, but you can stop printing money.
In bad times, silver and gold have value…..but nowhere near the value of lead.
A double spring loaded coin shooter…
Just depends on the velocity it generates.
Since they’re pretty much worthless and then soon useless… like the extinction of the penny.
Pennies are handy for making brass. Brass is handy for a lot of things.
What’s a real penny worth these days? 2.25 cents worth of copper metal.
Really answers the question of why they stopped making pennies, right?
Nickels are worth 7.91 cents in metal. They’ll be next.
Depends on the year of the penny. Prior to 1997 they were 98% copper. After 1997, 4.5% copper plated.
I have a few $100 TRILLION Zimbabwe bills that I keep just to show people how stupid governments can be.
Well if they SAY they HAVE the gold, well then, no problem.
Yup.
Counted it twice.
Certified.
Trust us.
They kept printing money and inflated 100,000,000,000,000,000,000,000,000 times in 4 separate currency revaluations until they gave up and used American and South African currency. There was a simple solution. just quit printing money. I too have a $100 trillion Zim note. It goes with my $2 billion Mark German stamp. Celebrating human stupidity.
Going from Rhodesia to Zimbabwe has consequences.
You can expect that turdeaus misinformation/disinformation/malinformation minister will be in touch with you, with some rcmpigs at your doorstep.
For one US buck, you could wallpaper 3,437.5 ft² with Zimbabwe dollars.
Well then if they’re so unwilling to practice basic economics, why not try Keynesianism instead?
Just spend, and spend. Apparently that’s what works! All you have to do is get the money flowing and prosperity results!
Somehow…
Anything is better than actually increasing the production of that which is useful, and refraining from stealing the incentives from the people who would otherwise do the producing.
Instead, dazzle them with BS and conflate the discussion with tricks done to the token that represents the same limited and dwindling underlying wealth.
Right lefties?
Why don’t they adopt the Canadian Dollar?
That should still be worth something for at least another year or two.
Beauty !
http://maguy69.m.a.pic.centerblog.net/3a40ddd4.jpg
Tribal societies are essentially communist societies. The colonialization of Africa never eliminated the tribalism and it returned. Canada’s communists are encouraging our apartheid enshrined tribes to do the same despite the futility of a small remnant racial legacy addicted to federal dole and resource shakedown attempting an inverted apartheid.
Print the new Zimbabwe currency on soft fabric paper.
Then, at least, it will be worth something.
Something that can be used in the washroom.
Hey, it will work this time, they have Mark Carney advising them!