Astronomical numbers

neufer · Post by **neufer** » Mon Jul 28, 2008 2:41 pm

Zimbabwe to remove 'zeros' from currency
By ANGUS SHAW – July 27, 2008
http://ap.google.com/article/ALeqM5hqsy ... AD92660400

<<HARARE, Zimbabwe (AP) — Zimbabwe's bank chief plans new currency reforms — removing "more zeros" from the plummeting Zimbabwe dollar and raising the limit on cash withdrawals — to tackle the country's runaway inflation and cash shortages, state media reported Sunday.

Previous currency reforms have failed to tame Zimbabwe's inflation — officially pegged at 2.2 million percent a year but estimated by independent analysts to be closer to 12.5 million percent. It also has become virtually impossible to get access to cash as the country's economic collapse worsens.

Authorities last week released a new 100 billion dollar bank note. By Sunday it was not enough even to buy a scarce loaf of bread in what has become one of the world's most expensive — and impoverished — countries.

The Sunday Mail, a government mouthpiece, reported that central bank reserve governor Gideon Gono told an agricultural show Saturday he would introduce the new measures in the coming days to make sure cash shortages are a "thing of the past."

Zimbabwe's government says western sanctions — tightened last week — are mainly to blame. Critics blame mismanagement by President Robert Mugabe's government and a land-reform program that slashed the country's agricultural production.

To improve liquidity on the market, Gono was going to remove "more zeros," the paper reported.

"This time, we will make sure that those zeros that would come knocking on the Governor's window will not return. They are going for good," Gono was quoted as saying.

In 2006, the central bank slashed three zeros from the currency when inflation stood at a few hundred percent, already the highest rate in the world then.

Computers, electronic calculators and automated teller machines at banks have not been able to handle basic transactions in billions — nine zeros — or trillions — 12 zeros — or even quadrillions, with 15 zeros.

A new laptop computer was advertised Sunday at 1.2 quadrillion Zimbabwe dollars. That's the equivalent of about $25,000 at the official exchange rate, $8,500 at the black market cash exchange rate, or $2,000 at a third exchange rate used in electronic money transfers through bank accounts that don't involve the physical issue of Zimbabwe dollar bank notes.

Zimbabwe's money shortages, inflation and chronic shortages of food, gasoline, medicine and most basic goods have brought many businesses in Harare to a standstill. Smaller shops and at least four main restaurants have shut down.

The state media reported Saturday that nightclubs canceling music shows because audiences dried up after a 2,000 percent increase in beer and soft drink prices in the past week. Several bars and clubs were openly accepting U.S. dollars, even though that is against the law.

The Sunday Mail said Gono warned businesses against accepting hard currency.

"Dollarization is not a position we have taken. We are not in that situation yet. Report all such persons to the nearest police station," Gono said.

Shortages of local cash have worsened dramatically. Earlier this month, a German company, under pressure from the Berlin government, stopped selling bank note paper and printing software to Zimbabwe's central bank.

Gono, according to the Sunday Mail, described the end of a 40-year-long contract to supply bank note paper as part of the West's "devilish" economic sanctions against Mugabe's government. The European Union last week tightened sanctions and the United States followed suit on Friday.

Central bank officials have indicated bank note paper was being sought in Asia and through neighboring South Africa.>>

Arramon · Post by **Arramon** » Mon Jul 28, 2008 7:39 pm

Cost for people of Zimbabwe to take a space related trip:

$1,200,000,000,000,000 dollars (zimbabwe currency)

How the hell can a nation have printed notes in the BILLIONS??? Holy cow, spaceman!

BMAONE23 · Post by **BMAONE23** » Tue Jul 29, 2008 3:18 am

Arramon wrote:Cost for people of Zimbabwe to take a space related trip:

$1,200,000,000,000,000 dollars (zimbabwe currency)

How the hell can a nation have printed notes in the BILLIONS??? Holy cow, spaceman!

I thought that was the price for a Quarter Pounder

Arramon · Post by **Arramon** » Tue Jul 29, 2008 7:53 pm

Is that why I always get emails from people saying they are from some family and they have aacounts in the millions already set up for me to receive if I help them transfer funds to my own US bank account...?????? They are detached from the reality of what money is actually worth. Sounds like Yen. 50,000 yen is like how much US $? But 100 Billion???
dang.

bystander · Post by **bystander** » Wed Jul 30, 2008 12:48 pm

Arramon wrote:Sounds like Yen. 50,000 yen is like how much US $? But 100 Billion???

$464.35 One Japanese Yen is about one penny, and has been for some time.

$1 US = $54,217,199,510 Zimbabwe. Can we use Zimbabwe dollars to retire the national debt?

makc · Post by **makc** » Wed Jul 30, 2008 6:44 pm

You know, I can get smacked hard for saying this, but that people obviously need some white men to rule them.

Arramon · Post by **Arramon** » Wed Jul 30, 2008 7:22 pm

LOL

*smacks you*

neufer · Post by **neufer** » Thu Jul 31, 2008 9:03 am

makc wrote:You know, I can get smacked hard for saying this, but that people obviously need some white men to rule them.

Actually it was white men that killed Zimbabwe:

http://en.wikipedia.org/wiki/Great_Zimbabwe

bystander · Post by **bystander** » Thu Jul 31, 2008 1:26 pm

The Great Zimbabwe was already in ruins by the time the Portuguese got there.

makc · Post by **makc** » Thu Jul 31, 2008 7:45 pm

neufer wrote:Actually it was white men that killed Zimbabwe

So, what you are saing here is that driving white farmers off their land was good idea, after all?

neufer · Post by **neufer** » Thu Jul 31, 2008 9:10 pm

makc wrote:So, what you are saying here is that driving white farmers off their land was good idea, after all?

Well, sir, you might as well say "the land" belonged to the king of the jungle.

I don't see how you can honestly grant anyone else a clear title to it...except by right of possession.

makc · Post by **makc** » Fri Aug 01, 2008 12:04 pm

cough... they were not just "owning" the land. they were also growing some food for black brothers. which is something they apparently unable to do on their own.

edit: dont get me wrong here, I dont have anything against black people... just against ignorant black people with guns. they have to be contained for their own good. many white people arent better in any way where I live, but zimbabwe people... that's really sometihng outstanding...

more edit: ok, kids. remember racism is bad, and by the rules of this forum I didnt have the right to say all this stuff, etc. maybe neufeur is right, and they just have terribly bad luck in zimbabwe... any way, I am going to ask someone to shut this thread down now, because it makes me look like bad racist guy and is totally unrelated to astronomy.