Zim phasing out local currency

[Ockie]

So without getting the calculator out it weakened roughly 4 x between 1974 and 1994 , as well as 4x between 1994 and 2015.

By this calculation in 2035 ..... Ouch !!

mmmm ok. That puts it in a interesting perspective for me. Thank you for that.

 

[hawker]

so the 500 hundred million zim note i have is worth less than the paper its printed on?

Yes, at this point.

 

[JimmyRott]

Yes, at this point.

you foresee it making a comeback?

 

[cr@zydude]

mmmm ok. That puts it in a interesting perspective for me. Thank you for that.

There's a lot more to currencies than the numbers on the news. It's not directed at you, but at many people commenting on how bad the rand is.

Since the union, we've been linked to UK pounds, on the gold standard, Bretton Woods system and now a free float. Don't forget that the Nats ran a "financial rand" too.

 

[Lord Farquart]

I dont understand the point you are making? That the Rand was stronger than the Pound and it was the ANC's doing?

Don't be that spoon. You know exactly, and you agreed with grimpex. The Rand was strong and the Nats screwed it up. The ANC did their bit too, but they inherited a weakened currency, not that anyone of us would mind the one the Nats gave them.

 

[Ockie]

Don't be that spoon. You know exactly, and you agreed with grimpex. The Rand was strong and the Nats screwed it up. The ANC did their bit too, but they inherited a weakened currency, not that anyone of us would mind the one the Nats gave them.

I asked you to clarrify what you are saying because they way you put in in the post of yours that I quoted I did not understand what you are getting at. If you want to call me names because I asked you to clarify your point then so be it.

 

[gimpex]

You know exactly, and you agreed with grimpex.

Err .... That would be GIMPEX

Nothing grim about me

 

[Lord Farquart]

I asked you to clarrify what you are saying because they way you put in in the post of yours that I quoted I did not understand what you are getting at. If you want to call me names because I asked you to clarify your point then so be it.

Sorry, uncalled for. I appologize. You were the one blaming the ANC for the weakened Rand. I was not defending them, but pointing out the Nats did a good job themselves. That is where our discussion started.

The Rand was a strong currency in its day. Blame the ANC for fcking it up.

The Nats ****ed it up long before the ANC got a hold of it.

 

[Ockie]

The Nats ****ed it up long before the ANC got a hold of it.

Yes, I have conceded that to gimpex after he made the point that the Rand devalued almost the same as it did under the Nats.

Another thing that needs to be taken into consideration is that under the Nats, the world was trying to bring South Africa to its knees with sanctions, but now with the ANC and no sanctions the Rand is still falling.

 

[zippy]

Yes, at some point it was stronger than the $ if my memory serves me right. I was not yet born but read about it. Considering that we were hit with severe sanctions the Rand held up remarkably well untill 1994 if you ask me.

Actually, the rand wasnt worth very much from the 80's onwards. There was that stupid thing called the Finrand. And there was massive exchange control. I think people forget the negative effects of exchange control and just see the exchange rate at the time.

With exchange control and sanctions, the strong currency wasn't really much of a benefit.