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149 Comments
- FulcrumVitesse, on 10/10/2007, -1/+59This pretty much tells you all you need to know about Roberts Mugabe's extraordinarily incompetent regime.
- identifiedlogo, on 10/10/2007, -6/+45Inflation: 4,500%
Unemployment: 80%
4m - 30% of the population - need food aid
3m left the country
Can anyone do so much damage and still be president?...well, err... - zadadka, on 10/10/2007, -0/+33An anagram of "President Robert Mugabe" is "I'm superb debt generator"
- DiggsOnlyNeoCon, on 10/10/2007, -2/+34What does it convert to in Shrute Bucks?
- Bhima, on 10/10/2007, -0/+24I've got the bill from a million dollar lunch stuck to my fridge from my trip to Zimbabwe last summer. Unbelievable
- Error601, on 10/10/2007, -7/+29You might want to actually read up on the reasons for the hyperinflation in Zimbabwe so you don't look dumb.
- MikeonTV, on 10/10/2007, -6/+28equivalent to one Canadian penny.
- barktwiggs, on 10/10/2007, -2/+22So, is forcing white farmers to forfeit their lands to less experienced and incompetent people not considered totalitarion or communist?
- mathchemist, on 10/10/2007, -3/+23Why do some people think they have to relate every article on digg to the *****-ups in Iraq in one way or another? Non sequiturs suck.
- chris9902, on 10/10/2007, -1/+19He made everyone millionaires. genius.
- ripple123, on 10/10/2007, -1/+16Priceless. Theres some things money cant buy, for everything else theres a $200,000 note.
- Lokomis, on 10/10/2007, -0/+14If you act now, you too can be one of the first to receive your very own $200,000.00 note.
It is urgent that you first send $300.00 to cover transaction fees and assist with the production of the printing plates. Please, my friend, transfer these funds to... - jarjarjanks, on 10/10/2007, -0/+10The situation in Zimbabwe is quite dire right now. This used to be a realtively prosperous african country. Mugabe has seized power and silenced all opposition. Frontline managed to smuggle in some journalists not long ago to see how bad the situation really is. Link has video http://www.pbs.org/frontlineworld/stories/zimbabwe504/video_index.html#
- Error601, on 10/10/2007, -7/+17It's the wonderful effects of socialism and racism. Redistribute all the land based on race and destroy the whole economy.
- synapz, on 10/10/2007, -17/+27This is the destiny of any fiat money system, including our own. Since we ditched the true gold standard, our dollar has lost 96% of its value. It has been accelerating, and will eventually go awry in a bad way, unless we get back onto a commodity-based currency.
- Error601, on 10/10/2007, -5/+14Wealth redistribution is pretty much the definition of socialism.
- orvtech, on 10/10/2007, -1/+10hell yeah! it is!, that same thing is going on in Venezuela. the communism is eating a live my country (Venezuela)
- nicksauce, on 10/10/2007, -0/+9$1 trillion, wasn't it?
- beatbox32, on 10/10/2007, -0/+8Hey, you're good...really good.
- nihilite, on 10/10/2007, -2/+9Reminds me of Mr. Burns and his $1 billion dollar bill.
- popothebright, on 10/10/2007, -2/+9Maybe we should help our own government understand the same thing. Oh, right, we conveniently stopped publishing the M3 number... But we can trust the government. They wouldn't lie to us....
- gharding, on 10/10/2007, -1/+88 million Schrute Bucks, by my calculation.
- Lancer383, on 10/10/2007, -0/+6Sweet...now what is that in Stanley nickels??
- orvtech, on 10/10/2007, -4/+10define, president? a democratic elected dictator as Hugo Chavez en Venezuela is NOT a president.
- inactive, on 10/10/2007, -0/+5well, probably 2 canadian dollars, because the article says it could buy a bag of sugar.
- Mosatii, on 10/10/2007, -1/+6I wouldn't. Just imagine how cheap the hookers are.
- Cfire, on 10/10/2007, -0/+5Roberts Mugabe is a short sighted racist douche.
Starting in 1999 the government started to seize farmland that was owned by white farmers. This land was taken without compensation. As the farms were taken over production and export of grain and tobacco collapsed. The result was a food crisis.
"One correspondent recently told the BBC News website that one candle can cost twice the official government wage for a farm worker, while the price tag for a single banana is 15 times what she paid seven years ago for a four-bedroom house" A banana is now worth 15 times what a house was only seven years ago.
To top it of Roberts Mugabe blames the west for the current crisis. He believe that the west and the UK are sabotaging the economy. All of his "solutions" will actually make the problem worse. Import restrictions make things worse the collapse of domestic output means only goods from external sources are available.
Printing even more money will only add to the hyperinflation. See making larger denomination bills IE more money will only increase inflation. - smokespliffz, on 10/10/2007, -0/+5you sad bastard
- jpetrides, on 10/10/2007, -4/+9Mugabe is a piece of *****. He's been in there for something like 20 years. We should be happy that while our system is flawed and getting worse, because of our system of checks and balances, our problems are not nearly to the scale of what they are in Zimbabwe. Maybe we haven't had a good president for many years, but nobody has come CLOSE to screwing up the economy this bad.. not even FDR. I'm glad this made the front page of digg.
- jarjarjanks, on 10/10/2007, -2/+6"It wasn't always this bleak, says Bloom. "Robert Mugabe was once a liberation hero, admired around the world. He ushered in prosperity, health care and a literacy rate of 85 percent - the highest in Africa." But politics here has turned into thuggery, she says - holding on to power has become Mugabe's top priority. And during the last seven years, intimidation has become his chief weapon. His radical land redistribution plan set out to seize white-owned farms and turn them over to black farmworkers. Instead, Bloom reports, these farms were given to members of Mugabe's inner circle, who didn't know how to run them. A once-thriving agricultural economy has been brought to its knees, and many of Zimbabwe's most productive farms now lie fallow."
Now will the nutjobs talking about communism and gold standards stfu.
http://www.pbs.org/frontlineworld/stories/zimbabwe504/video_index.html - popothebright, on 10/10/2007, -5/+9And you might want to look into the causes of our current 9% inflation. (You're not actually believing the propaganda are you? Read shadowstats.com for economists calculations on our current inflation rate. The CPI is a joke and has been for some time).
- zeromancer, on 10/10/2007, -0/+4i'm bad at economics, but how does releasing a large note like this curb inflation?
- EvolvedAnt, on 10/10/2007, -1/+5Typical, to assume any comment on the entire internet that is dumb, is automatically from an American. Your own comment just proved your own ignorance.
- orvtech, on 10/10/2007, -2/+6Yo estoy hablando como un Venezolano, mas criollo que la arepa!
and i whish commies wana be would stop being such of a coward and go and live in Vzla por 1 year. you will have no legal problems since he is giving away our nationality for free to anyone that supports him.
Kronix2 I do have an invitation for you... lets make it an open invitation
You�re American You Live in USA You don�t like American Goverment. Me Neither, I�m Venezuelan.
You�re American You Live in USA You like Venezuelan Goverment. I don�t like Venezuelan Goverment. I�m Venezuelan
Which are our diferences?
You�re American, I�m Venezuelan.
You live in USA. I live in Venezuela.
You know American Goverment. I know Venezuela Goverment.
You like Venezuelan Goverment. I don�t like Venezuelan Goverment.
My proposal:
You should Move to Venezuela for 1 year living like a Venezuelan, I would like
to move to USA and live for 1 year and live like an American.
Diferences?
This are you�re you�re rights living like a Venezuela citizen:
you have the right to be victim of crime
you have the right to be beated if critizcs the goverment instead of Chavezsupporters
you have the right to be called "escualido" if you�re not Chavez supporter
you have the right to go to "Perez de Leon Hospital" and buy medicines by yourself, right from your poor pocket
you have the right to wait for 1 year and buy a brand new cheap car
you have the right to eat meat, as soon you could find some
you have the right to drink all milk you want, as soon you could find it
you have the right to work as a goverment employee, only if you�re are or simulate being a Chavez supporter.
you have the right say wharever you want, but be carefully talking ***** of goverment close to "Esquina Caliente" in Caracas Downtown.
you have the right to see any tv program you want it, only if our President is not talking ***** as he uses to in all tv chanells and saying stupid jokes.
This terror movie saga, we call it "Cadenas".
you have the right to dream having a new home, and save as much money you canlike a rat race behind inflation.
you have the right to get help from goverment, as soon you wear a red shirt, say Chavez is on earth and perfect almost a living saint, and you hate Americans and American Empire.
You have more rights, but you will know them as soon you stay here like a Venezuelan(as matter a fact, like a poor Venezuelan).
Now you know some reasons i don�t like Venezuelan Goverment, I wish I could have the oportunity to know your Goverment better and I would like to know if I like the American Goverment as you like Venezuelan Goverment. - Dagfari, on 10/10/2007, -0/+3I have a couple of questions for you, Orvtech:
1. Was your family involved in oil production prior to his first term?
2. Do you not recognize him as democratically elected, or do you just vehemently disagree with his policies? Those two are very different things, you understand. - popothebright, on 10/10/2007, -6/+9Coming soon to a neighborhood near you!
Seriously -- when are people going to understand that the inflation numbers we're being fed are plain fiction? Inflation is measured using the CPI, but the basket of goods that make up the CPI has been changed every year for the last 7 years. Imagine measuring something in "inches" when the definition of "an inch" changes every year?
The bottom line is: If you're keeping money safe "in cash", you're losing money. And if you're getting a regular paycheck -- it's worth less every week even if the number stays the same. - prgrmmr736, on 10/10/2007, -0/+3Mr.Burns I think we can trust the president of Cuba. - Homer Simpson
- andytime, on 10/10/2007, -0/+3I was in Zimbabwe a few weeks ago. In fact the day I left and flew back to South Africa the headlines splashed across the front page of the papers was "Zimbabwe Collapses" I visited the Victoria Falls which is more for tourists than visiting Harare. From what I gathered from talking to people that lived there, it is best to describe Mugabe as a thug. If the police stop someone and if they have foreign currency or so much of ZMB dollars they will confiscate it. If a person wants to deposit something in a local bank by all means they can, however they can only take out around 1.5M ZMB dollars a day. If someone wants to buy a new car and the car cost $10,000 USD, they must also pay Mugabe another $10,000 USD as a sort of tariff. Same with any of the imports. I spoke with someone who worked in Botswana and when he went home every 3 months he would take enough food for those 3 months to his family in Zimbabwe, however he said the taxes we getting so high that is was becoming increasingly more difficult. On top of that, the price cuts are causing businesses to close. For instance if it costs a dollar to manufacturer a loaf of bread and they want to sell if for $1.50, Mugabe says No, you have to sell if for $0.50. Thus no one can make money and if they can't the government simply takes over the factory/company. I left I think around July 8th, by the 13th, fuel was expected to have run out in the country and shelves were already empty. It's really a sad situation that is not really recognized yet in American media. But who can blame them, Americans care more about Iraq or Afghanistan. One thing that shocked me was that despite all this everyone I met was as nice as can be and everyone was asking when we would be coming back. Oh and I'm not sure how accurate the BBC article but I think by the time we left 1USD = 400,000ZMB dollars.
One more thing, I heard recently that Mugabe said if he is elected again, which he stole the last election, he would resign. :rollseyes: - K3ITHK, on 10/10/2007, -0/+3Inflation is actually a lot higher than that.
http://en.wikinews.org/wiki/Inflation_in_Zimbabwe_becomes_world%27s_highest_at_11%2C000%25_and_rising - kronix2, on 10/10/2007, -1/+4Why are Americans trying to claim Zimbabwe is socialist? Where is Zimbabwe's universal healthcare, their massive welfare state, their overarching regulation of business and their heavy taxing of the rich? Oh, that's right, Zimbabwe has none of those things, because it isn't a socialist country.
- kcpwnsgman, on 10/10/2007, -0/+3it says it is worth $13 USD, or $1 on the black market, I want to buy it
- gthrank, on 10/10/2007, -0/+3And the idiot next door, Thabo Mbeki, does nothing.
Definition of African democracy: One person, one vote, once. - Error601, on 10/10/2007, -1/+4Government leaders taking from one person and handing out to their buds is the way communism works in the real world.
- Phirenzic, on 10/10/2007, -6/+9Actually, the Canadian dollar is about 1:1 with the US dollar these days. But thanks for playing.
- YouandWhoseArmy, on 10/10/2007, -0/+2Lets see you are a Venezulan, on the internet and you speak English. Somehow I doubt you are one of the lower classes that Chavez's policies are designed to help.
- geekee, on 10/10/2007, -0/+2http://news.bbc.co.uk/1/hi/world/africa/1709488.stm
The BBC disagrees with you. You can call is socialism or fascism. They really aren't that different in practice. - orvtech, on 10/10/2007, -0/+2I am not miss informed. Yo vivo en venezuela y soy mas venezolano que tu y tu familia junta. so i would sujest for you to check your facts before telling to a venezuelan (de guatire) whats right or wrong on those pictures.
BTW. you obiously do not live in Caracas. - MacParrot, on 10/10/2007, -0/+2Having been to Zimbabwe twice (once in 1985 and then again in 1990), it was obvious to most outside observers that Mugabe was only interested in power. In the elections in 1985, there were several political parties (none other than Mugabe's for the presidency) and the party that most of the land owners belonged to nominated Ian Smith (Rodesia's last President) for the Legislative branch. Instead of simply accepting it and marginalizing him, he took it as a personal affront and banned most of the parties.
Under Mugabe's watch, Zimbabwe has gone from the being the bread basket for southern Africa to the waste case it is today. Sadly, he is just one of the many power hungry tribalists (all real power to members of their own tribe instead of any kind of power-sharing with neighboring tribes in the same country) that have ruined the chances for the average African to rise above poverty.
Great Britain, France, Belguim, Germany, and Italy deserve the lion share of the blame for this during their colonial land grabs. Borders were drawn based on each colonizing countries needs with no reguard for the people that actually lived within each region. Typically, one tribe would be "lifted" up to help the colonizing power keep control and that tribe would receive the lion's share of the benefits. Once the europeans left, there were few that were educated enough to keep up the infrastructure that had been built. Crumbling cities, civil wars, coup after coup has been the norm for most of Africa since the 1960s.
I find in unfathomable that a continent so rich in natural resources could be so poor. Africans need to put aside their differences and work together to solve the many problems that face them, hopefully without interference from their former (and some would say current) masters. - geekee, on 10/10/2007, -0/+2One way to do this is get someone to loan you money in that currency. Immediately convert all the money to a more stable currency. Convert only enough money back to make a payment at the time of a payment. If that currency does devalue relative to your more stable currency, you will have money left over at the end of the loan.
- inactive, on 10/10/2007, -1/+3Oh, for the colonial days.
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