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Is Zimbabwe in its final throes?
Posted by: McQ on Thursday, June 21, 2007

Got a couple of bucks US? You can be a millionaire in Zimbabwean dollars:
The value of the Zimbabwean dollar suffered its worst crash in memory, dealers said Thursday, sparking a run on dollars and forcing stores to close early to put new prices on their meager stock.

Black market exchange rates — fueled by the central bank buying at the illegal rates to pay the mounting debts of crumbling state fuel and power utilities — rose to upward of 300,000 Zimbabwe dollars to one U.S. dollar in large offshore deals, said one trader.

The official exchange rate is 15,000-1.

"It's gone crazy," said the trader, who spoke on condition of anonymity because his dealings are illegal. "People are holding out for the highest bidder and mentioning as much as 400,000-1 which could be tomorrow's price. It's changing by the hour."

The going rate doubled since Monday, he said
How much longer can Mugabe last?
 
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Previous Comments to this Post 

Comments
Their money loses 10% of it’s value a day.

Inflation is well over 3000%.

And They got picked to lead the commitee on sustainable growth...
 
Written By: Scott Jacobs
URL: http://
And They got picked to lead the commitee on sustainable growth...
The kind of international legitimacy only the UN can bring to bear.
 
Written By: Liberty Dog
URL: http://canislibertas.blogspot.com
Iran vice-chairs the UN Nuclear Disarmement Comission last year...

They are pulling the longest April Fool’s gag EVER
 
Written By: Scott Jacobs
URL: http://
I read somewhere, yesterday, I think, that it’s now impossible to find currency traders buying Z-dollars.

This is a real-life horror film re-run. Mugabe is a bloody pre-cognitive savage, and everyone familiar with history knows this story already. The only question is which ways the pieces fly.

Amazing.
 
Written By: Billy Beck
URL: http://www.two—four.net/weblog.php
Fred Thompson did a great report on Zimbabwe...

6/11 "An Unsustainable Development"
 
Written By: Scott Jacobs
URL: http://
This is a real-life horror film re-run. Mugabe is a bloody pre-cognitive savage, and everyone familiar with history knows this story already. The only question is which ways the pieces fly.

Amazing.
I’m with Beck. Horrible and amazing. Milton Friedman must be vomiting in his grave.

yours/
peter.
 
Written By: peter jackson
URL: www.liberalcapitalist.com
And They got picked to lead the commitee on sustainable growth...
...which is befitting of an economy advancing so quickly to a "cashless society".
 
Written By: unaha-closp
URL: http://warisforwinning.blogspot.com/
How much longer can Mugabe last?
I’d wager a long, long time, since surely not only us, but many will throw money at them because we are, at a very basic level, morons...
 
Written By: Scott Jacobs
URL: http://
How much longer can Mugabe last?
They say that anything over 4 hours is dangerous.
 
Written By: Neo
URL: http://

 
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