Zimbabwe ditches its ‘worthless’ currency

[European Knight]

Zimbabwe ditches its ?worthless? currency | www.bullfax.com

Zimbabwe is paying its citizens $5 for 175 quadrillion Zimbabwe dollars

Zimbabwe's central bank announced the demonetization of the Zimbabwe dollar will occur from June 15 until the end of September, according to China's state-run newspaper, Xinhua. "The banking public should visit their banks to establish

the balances which were in their accounts. We have interacted with the banks and they still have all the information, which we as the Reserve Bank also authenticated," Reserve Bank of Zimbabwe governor John Mangudya said.

Zimbabwe Demonetizes: Offers US$5 Per 175 Quadrillion Zim Dollars

It's over! Starting June 15th and ending September 30th, the Zimbabwe Central bank will begin its process of "demonetization" of the old Zimbabwe Dollar. The Zimbabwe dollar will be removed as legal tender after the currency’s use was

abandoned in 2009 following a surge in inflation to 500 billion percent. For bank accounts containing up to 175 quadrillion Zimbabwe dollars they will be paid $5, the country’s central bank said.

[Breedingvariety]

What took them so long?

[LightHouse89]

LOL after the white people were kicked out what did they think would happen?

[European Knight]

Money for nothing in Zimbabwe | Bangkok Post: business

HARARE — Zimbabwe's central bank has announced that residents can exchange banknotes from its old currency, which collapsed and was discarded six years ago amid runaway inflation, for American dollars.

But 100 trillion Zimbabwean dollars — that's right, $100,000,000,000,000 — will fetch only 40 US cents, the equivalent of 13.50 baht.

That's a fraction of what collectors on eBay and elswehere have been paying for the notes with numerous zeroes, given their novelty value.

Zimbabwe in 2009 abandoned its currency for a system dominated by the US dollar and the South African rand after inflation hit 230 million percent — that's right, 230,000,000%. Back then, even street hawkers refused to accept the $100-trillion Zimbabwean notes that were in circulation.

Starting from Monday, the stacks of bills that Zimbabweans still have in their possession can be exchanged for US dollars. The offer is part of what the central bank says is an overdue plan to phase out the currency entirely.

Some people in Harare, the capital, said they disposed of their Zimbabwean dollars long ago.

[European Knight]

[Dandelion]

What I neither get is that the European countries vilified Rhodesia because they weren't a one-man-one-vote democracy. As if that was possible. How unwordly can one be? I swear, the dogma of 'democracy is the best system always anywhere' is something which in a way makes our civilization retarded especially in regards to foreign policy.

At least 60%-70% of the population has to be educated not to mention the huge cultural differences. I doubt even one generation is enough to get the black population over there educated. So oligarchy was and still is indeed the best system for most African countries. Rhodesia even did it without the apartheid stuff.

[Ctwentysevenj]

From the Ian Smith Government to a Monkey run government.