[Update on the Zimbabwe Currency]
First let me say I am not a financial advisor or sell or trade any currencies. I am not encouraging anyone to buy or sell any currencies. I am simply giving you an opinion and what I a hearing in the recent news.
For everyone holding Zimbabwe notes.
Did anyone read the two articles I am presenting below. I am sure you have since they are not new articles.
I have to ask myself if we have been swindled in buying the Zimbabwe notes by these currency brokers and those that work for them and moderate these so called intel calls? Are we collectors or investors
First let me say I am not a financial advisor or sell or trade any currencies. I am not encouraging anyone to buy or sell any currencies. I am simply giving you an opinion and what I a hearing in the recent news.
For everyone holding Zimbabwe notes.
Did anyone read the two articles I am presenting below. I am sure you have since they are not new articles.
I have to ask myself if we have been swindled in buying the Zimbabwe notes by these currency brokers and those that work for them and moderate these so called intel calls? Are we collectors or investors
This latest Sterling Currency issue and the problem with its affiliates has everyone wondering….doesn’t it?
We are al so worried about getting our reserves that we forget the entire story and issues of just what happened concerning Sterling Currency group. I do not have any facts or proof against any scrupulous dealings by any of these traders but I will say I personally feel they have scammed many when it comes to selling and buying the Zimbabwe currency.
What the hell are many of these intel “gurus” talking about? Zim on USA banks screens at .13 -.18 cents and only going to exchange in 100 trillion amounts? Think about these statements. They have been telling this for months now. What does this exactly mean?
Does this .13 thru.18 cents apply to per each ZIM dollar or per one 100 trillion amount?
For instance you will get in USA only 13 cents for 1 of your 100 trillion notes.
This could be a mistake on their screw up once again in the intel they broadcast on their calls by not reading and following the articles. As we all know I have been harping on this misinformation for a very long time. Many think I am just bashing them but I am really looking out for everyone’s interest. Now we can see just why. This is a perfect example we should all learn our lesson over. STOP LISTENING TO THIS MISINFORMATION!
So if you have a 100 trillion note don't expect to get more than .13 - .18 cents for it? Really? You mean I am not going to get rich?
This is just a question not a statement. So let me explain.
Are these articles below just misinformation to get us to stop buying ZIMs?
Won't be the first time they spread misinformation about these currencies. Also the article is from Fox News not an entirely trusted source for solid information and has been known to have made mistakes in reporting news since their journalism has usually been unverified through this entire dinar saga. Remember when they reported that Malaki would get a third term and how he won the election? So how can we trust their reporting of the news?
I do find it funny though how these recent ZIM articles are coming out only just now. Why now?
What about the article a couple months ago from Zimbabwe when they showed us their newer lower denominations and their new coins they were printing and expecting to issue soon? Can’t forget the past articles either. Why such a change in monetary policy all of a sudden?
How come this article now says their President Robert Mugabe's says the US dollar is here to stay when only months ago they stated they were well on their way to a revaluation and a stable currency?
I don't get the conflict in news and policy. Seems weird and some funny stuff is going on. Could it all be a scam from these so called “intel Gurus” or could this be legitimate ?
So much for the RV of the ZIM! Strike one from this so called “package” of four currencies about to RV. At least for now
So what else are they forgetting to tell us about the Dong, Iraq Dinar and the Rupia that they also say is imminent to RV?
Anyhow to make a long story short - if what these articles are telling us is true, then we should be able to go to any bank to exchange currency this currency beginning today and exchange our for the rates on their screens. Correct?
These articles are telling this we can begin today and we will have until September 2015 to exchange and then it will be worthless.
WARNING-WARNING-WARNING
So before you get all flustered and go off half cocked if you are holding Zim notes, let us look at these two articles below intelligently and use what we know as FACTS. Remember in my last recent news letters I talked about how to analyze these articles. In today’s article I gave you some important information about how any Central Bank operates and what their functions are. All Central Banks have basically the same charter with sponsoring countries. Remember they are private organizations working for the sponsoring nation.
So looking at these article ask yourself is this government policy or Central Bank policy? Yes – it certainly appears to be government policy as the article stated.
Now ask yourself does the government make monetary policy or does the Central Bank of Zimbabwe? So is this recent news really monetary policy or wishful thinking by the president?
So is this exchange policy only for within country of Zimbabwe or also for all international holders of Zimbabwe notes? THESE ARTICLE DO NOT TELL US. So how do we find out?
Anyway we must think rationally. If they are telling us in these articles they are taking in Zim and paying out such low equivalents in US Dollars in their exchange then what makes you believe those in USA you will get .13 cents thru .18 cents per Zim dollar so that’s 10 million per a 100 trillion Zim note?
So where is the USA miraculously going to get all his money from to payout American citizens for this currency? Do they know something we don’t know? Could this be a scam being played out on American citizens by these currency dealers?
There is an old saying “IF IT SEEMS UNBELIEVABLE, IT NORMAL IS”.
Next maybe we should all call our banks today and asked them about exchanging your Zimbabwe notes for US Dollars? Is it now tradable? What is the rate? Bring in the articles and show it to them and ask their opinions on it. After all they are the bankers and they should know this policy. However you should go to a larger money exchanger and ask to see the bank manager in private on this matter.
Personally I would just hand on to the Zimbabwe notes as long as I can. Even at collector prices the cost is so minimal to us investors. Watch and wait to see what happens in the future. You have until September and so don’t rush and make a hasty decision. Even if you lose the entire amount (as what the articles tells us may happen) just exactly how much is this? Maybe a couple hundred dollars at the most? Not much to lose considering the risk and the huge payouts on exchange, if in fact what the gurus are telling us is true.
Article Follows:
FoxNews.com:
COUNT THE ZEROES: ZIMBABWE CENTRAL BANK ALLOWS BANKNOTE EXCHANGE
--------------------------------------------------------------------------------
June 12, 2015: A man holds a handful of 5 Billion Zimbabwean dollar notes, in Harare. (AP)
Zimbabwe’s central bank is allowing citizens to exchange bank notes from its old currency, which collapsed and was discarded years ago, for American dollars.
However, 1000 trillion Zimbabwean dollars will only fetch 40 U.S. cents. That is a fraction of what collectors have been paying for the notes with numerous zeroes for years.
ADVERTISEMENT
Zimbabwe abandoned its currency for a system dominated by the U.S. dollar and South African rand after inflation hit 230 million percent. Street vendors didn’t even accept a $100 trillion note that was issued.
Starting Monday, stacks of Zimbabwean bills that might be kept by Zimbabweans can be exchanged for U.S. dollars. The officer is part of a plan by the central bank to phase out the currency entirely.
Some people in Harare, Zimbabwe's capital, said they disposed of their Zimbabwean dollars long ago.
"I used it as garden manure," said Isaac Mutezowepasi, a street vendor. "Why would I have kept that dirt?"
Others said they still have heaps of old dollar notes at home, but won't respond to the government offer.
"I am keeping them for my grandchildren to see. Plus I know I will get more for them in future because these Zimdollars are going to be in demand," said Tendai Nyaundi, a graphic designer.
On e-Bay, at least five banknotes of 100 trillion Zimbabwean dollars were being sold for $159. Another post put five banknotes of $100 trillion at $173.99.
There have been calls to re-introduce the Zimbabwean dollar by some members of President Robert Mugabe's ruling ZANU-PF party. They argued that the use of foreign currencies is responsible for the country's current liquidity problems.
Finance Minister Patrick Chinamasa has repeatedly said the U.S dollar "is here to stay."
The Associated Press contributed to this report
http://ift.tt/1eaOUUA
Article Ends
We are al so worried about getting our reserves that we forget the entire story and issues of just what happened concerning Sterling Currency group. I do not have any facts or proof against any scrupulous dealings by any of these traders but I will say I personally feel they have scammed many when it comes to selling and buying the Zimbabwe currency.
What the hell are many of these intel “gurus” talking about? Zim on USA banks screens at .13 -.18 cents and only going to exchange in 100 trillion amounts? Think about these statements. They have been telling this for months now. What does this exactly mean?
Does this .13 thru.18 cents apply to per each ZIM dollar or per one 100 trillion amount?
For instance you will get in USA only 13 cents for 1 of your 100 trillion notes.
This could be a mistake on their screw up once again in the intel they broadcast on their calls by not reading and following the articles. As we all know I have been harping on this misinformation for a very long time. Many think I am just bashing them but I am really looking out for everyone’s interest. Now we can see just why. This is a perfect example we should all learn our lesson over. STOP LISTENING TO THIS MISINFORMATION!
So if you have a 100 trillion note don't expect to get more than .13 - .18 cents for it? Really? You mean I am not going to get rich?
This is just a question not a statement. So let me explain.
Are these articles below just misinformation to get us to stop buying ZIMs?
Won't be the first time they spread misinformation about these currencies. Also the article is from Fox News not an entirely trusted source for solid information and has been known to have made mistakes in reporting news since their journalism has usually been unverified through this entire dinar saga. Remember when they reported that Malaki would get a third term and how he won the election? So how can we trust their reporting of the news?
I do find it funny though how these recent ZIM articles are coming out only just now. Why now?
What about the article a couple months ago from Zimbabwe when they showed us their newer lower denominations and their new coins they were printing and expecting to issue soon? Can’t forget the past articles either. Why such a change in monetary policy all of a sudden?
How come this article now says their President Robert Mugabe's says the US dollar is here to stay when only months ago they stated they were well on their way to a revaluation and a stable currency?
I don't get the conflict in news and policy. Seems weird and some funny stuff is going on. Could it all be a scam from these so called “intel Gurus” or could this be legitimate ?
So much for the RV of the ZIM! Strike one from this so called “package” of four currencies about to RV. At least for now
So what else are they forgetting to tell us about the Dong, Iraq Dinar and the Rupia that they also say is imminent to RV?
Anyhow to make a long story short - if what these articles are telling us is true, then we should be able to go to any bank to exchange currency this currency beginning today and exchange our for the rates on their screens. Correct?
These articles are telling this we can begin today and we will have until September 2015 to exchange and then it will be worthless.
WARNING-WARNING-WARNING
So before you get all flustered and go off half cocked if you are holding Zim notes, let us look at these two articles below intelligently and use what we know as FACTS. Remember in my last recent news letters I talked about how to analyze these articles. In today’s article I gave you some important information about how any Central Bank operates and what their functions are. All Central Banks have basically the same charter with sponsoring countries. Remember they are private organizations working for the sponsoring nation.
So looking at these article ask yourself is this government policy or Central Bank policy? Yes – it certainly appears to be government policy as the article stated.
Now ask yourself does the government make monetary policy or does the Central Bank of Zimbabwe? So is this recent news really monetary policy or wishful thinking by the president?
So is this exchange policy only for within country of Zimbabwe or also for all international holders of Zimbabwe notes? THESE ARTICLE DO NOT TELL US. So how do we find out?
Anyway we must think rationally. If they are telling us in these articles they are taking in Zim and paying out such low equivalents in US Dollars in their exchange then what makes you believe those in USA you will get .13 cents thru .18 cents per Zim dollar so that’s 10 million per a 100 trillion Zim note?
So where is the USA miraculously going to get all his money from to payout American citizens for this currency? Do they know something we don’t know? Could this be a scam being played out on American citizens by these currency dealers?
There is an old saying “IF IT SEEMS UNBELIEVABLE, IT NORMAL IS”.
Next maybe we should all call our banks today and asked them about exchanging your Zimbabwe notes for US Dollars? Is it now tradable? What is the rate? Bring in the articles and show it to them and ask their opinions on it. After all they are the bankers and they should know this policy. However you should go to a larger money exchanger and ask to see the bank manager in private on this matter.
Personally I would just hand on to the Zimbabwe notes as long as I can. Even at collector prices the cost is so minimal to us investors. Watch and wait to see what happens in the future. You have until September and so don’t rush and make a hasty decision. Even if you lose the entire amount (as what the articles tells us may happen) just exactly how much is this? Maybe a couple hundred dollars at the most? Not much to lose considering the risk and the huge payouts on exchange, if in fact what the gurus are telling us is true.
Article Follows:
FoxNews.com:
COUNT THE ZEROES: ZIMBABWE CENTRAL BANK ALLOWS BANKNOTE EXCHANGE
--------------------------------------------------------------------------------
June 12, 2015: A man holds a handful of 5 Billion Zimbabwean dollar notes, in Harare. (AP)
Zimbabwe’s central bank is allowing citizens to exchange bank notes from its old currency, which collapsed and was discarded years ago, for American dollars.
However, 1000 trillion Zimbabwean dollars will only fetch 40 U.S. cents. That is a fraction of what collectors have been paying for the notes with numerous zeroes for years.
ADVERTISEMENT
Zimbabwe abandoned its currency for a system dominated by the U.S. dollar and South African rand after inflation hit 230 million percent. Street vendors didn’t even accept a $100 trillion note that was issued.
Starting Monday, stacks of Zimbabwean bills that might be kept by Zimbabweans can be exchanged for U.S. dollars. The officer is part of a plan by the central bank to phase out the currency entirely.
Some people in Harare, Zimbabwe's capital, said they disposed of their Zimbabwean dollars long ago.
"I used it as garden manure," said Isaac Mutezowepasi, a street vendor. "Why would I have kept that dirt?"
Others said they still have heaps of old dollar notes at home, but won't respond to the government offer.
"I am keeping them for my grandchildren to see. Plus I know I will get more for them in future because these Zimdollars are going to be in demand," said Tendai Nyaundi, a graphic designer.
On e-Bay, at least five banknotes of 100 trillion Zimbabwean dollars were being sold for $159. Another post put five banknotes of $100 trillion at $173.99.
There have been calls to re-introduce the Zimbabwean dollar by some members of President Robert Mugabe's ruling ZANU-PF party. They argued that the use of foreign currencies is responsible for the country's current liquidity problems.
Finance Minister Patrick Chinamasa has repeatedly said the U.S dollar "is here to stay."
The Associated Press contributed to this report
http://ift.tt/1eaOUUA
Article Ends
Article Begins:
THE ZIMBABWEAN GOVERNMENT WILL BEGIN TRADING U.S. DOLLARS FOR ZIM BEGINNING MONDAY.......
________________________________________
HARARE, Zimbabwe, June 13 (UPI) -- The Zimbabwean government will begin trading 5 U.S. dollars for every 175 quadrillion local dollars it collects beginning Monday in an effort to rid the country of what's left over of its hyperinflated currency.
For those with more Zimbabwe dollars, officials will trade according to the exchange rate of $1 for every 35 quadrillion -- that is, 35 followed by 15 zeroes -- Zimbabwean notes. THE COLLECTION PROCESS WILL END ON SEPT. 30, AFTER WHICH ZIMDOLLARS WILL BE ENTIRELY WORTHLESS.
The decision was announced Thursday in an effort by the Reserve Bank of Zimbabwe to legally demonetize the Zimdollar and REPLACE IT WITH THE U.S. DOLLAR, which had unofficially come to be used alongside the South African Rand and other currencies in 2009.
The Zimdollar hit rock-bottom in November 2008, when due to over-printing, prices would rise at least twice every day. The hyperinflation of the local currency led to many impoverished trillionaires and a broken economy. At the height of it, inflation rates hit 80,000,000,000 percent on a monthly basis and caused it to become the second worst hyperinflation story in history, just behind postwar Hungary.
The demonetization method announced by RBZ governor Dr. John Mangudya is meant to reinforce the government's support of the country's now multi-currency system and, according to him, enhance citizens' trust and confidence in the economy.
Article Ends
Peace and Luv To Ya All, Mnt Goat
THE ZIMBABWEAN GOVERNMENT WILL BEGIN TRADING U.S. DOLLARS FOR ZIM BEGINNING MONDAY.......
________________________________________
HARARE, Zimbabwe, June 13 (UPI) -- The Zimbabwean government will begin trading 5 U.S. dollars for every 175 quadrillion local dollars it collects beginning Monday in an effort to rid the country of what's left over of its hyperinflated currency.
For those with more Zimbabwe dollars, officials will trade according to the exchange rate of $1 for every 35 quadrillion -- that is, 35 followed by 15 zeroes -- Zimbabwean notes. THE COLLECTION PROCESS WILL END ON SEPT. 30, AFTER WHICH ZIMDOLLARS WILL BE ENTIRELY WORTHLESS.
The decision was announced Thursday in an effort by the Reserve Bank of Zimbabwe to legally demonetize the Zimdollar and REPLACE IT WITH THE U.S. DOLLAR, which had unofficially come to be used alongside the South African Rand and other currencies in 2009.
The Zimdollar hit rock-bottom in November 2008, when due to over-printing, prices would rise at least twice every day. The hyperinflation of the local currency led to many impoverished trillionaires and a broken economy. At the height of it, inflation rates hit 80,000,000,000 percent on a monthly basis and caused it to become the second worst hyperinflation story in history, just behind postwar Hungary.
The demonetization method announced by RBZ governor Dr. John Mangudya is meant to reinforce the government's support of the country's now multi-currency system and, according to him, enhance citizens' trust and confidence in the economy.
Article Ends
Peace and Luv To Ya All, Mnt Goat
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