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where can I trade US dollars for Zimbabwe dollars?

What would stop me from buying a crapload of their currency, and sitting on it until it comes back down? Then I profit once their economy comes back into check.
 
Originally posted by: DisgruntledVirus
What would stop me from buying a crapload of their currency, and sitting on it until it comes back down? Then I profit once their economy comes back into check.
Click to expand...

I guess you don't understand that a lot of times, countries will change currencies completely. So either you have to trade it in for the new currency and make nothing. Or you keep worthless pieces of paper.
 
Originally posted by: DisgruntledVirus
What would stop me from buying a crapload of their currency, and sitting on it until it comes back down? Then I profit once their economy comes back into check.
Click to expand...

It won't come back down. When have you ever heard of hyperdeflation? They will just renumber their currency and invalidate the old notes. All you'd get is a chance to turn in your 50 Trillion Zimbabwe Dollar note in for a 5 New Zimbabwe Dollar note.
 
Originally posted by: DisgruntledVirus
What would stop me from buying a crapload of their currency, and sitting on it until it comes back down? Then I profit once their economy comes back into check.
Click to expand...

Because to reset there currency it will have to change completely. New money will be printed and the old ZWD's will be unusable. The new currency will have different names and denominations it might be Zimbabwe pounds or something.
 
Originally posted by: tasmanian
Originally posted by: SoulAssassin
http://news.bbc.co.uk/2/hi/africa/7516874.stm

I think it would be really cool to get some 10 billion dollar Zimbabwe notes. Leave them laying around, light them on fire, etc. Anybody know where can I purchase/trade for them preferably using a credit card or paypal?
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You would only get like 18 one billion bills.
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That would be cool too. What would be even cooler is if I got 18 billion one dollar bills. Then I would need a Scrooge McDuck money vault to go swimming in.
 
Damn. OP got a bad deal.

Last I heard was that the rate is closer to about ZW$220,000,000,000 per USD.

Notes are readily available on ebay, but you'll pay way over the odds for them. 50 billion $ bill
 
But, you'd be able to claim that you're a billionairre. Go out to bars & brag about all your money - "I own several companies in Zimbabwe; I prefer to spend my time in the U.S. though."

If you're hunting for gold diggers, I'm sure you'll find one 😛


edit: heck, for $5, it'd be fun to collect valueless foreign currency and stuff your wallet with it.
 
In Germany in late 1923, the amount of paper marks it would take to buy firewood would take longer to burn then the firewood. Bread was 80 billion marks per loaf.
 
Originally posted by: SoulAssassin
Originally posted by: tasmanian
Originally posted by: SoulAssassin
http://news.bbc.co.uk/2/hi/africa/7516874.stm

I think it would be really cool to get some 10 billion dollar Zimbabwe notes. Leave them laying around, light them on fire, etc. Anybody know where can I purchase/trade for them preferably using a credit card or paypal?
Click to expand...

You would only get like 18 one billion bills.
Click to expand...

That would be cool too. What would be even cooler is if I got 18 billion one dollar bills. Then I would need a Scrooge McDuck money vault to go swimming in.
Click to expand...

is 18 bills in a vault the new bulk beef of 10 lbs?
 
What exactly is causing their hyperinflation? I have read several news articles about the situation in Zimbabwe but none of them offered a cause for it. The best I could infer was that many farms have been seized over the past several years, making food and basic goods extremely scarce, which would in turn raise the price dramatically. Is that correct?
 
Originally posted by: DisgruntledVirus
What would stop me from buying a crapload of their currency, and sitting on it until it comes back down? Then I profit once their economy comes back into check.
Click to expand...

lol, go ahead. You should get a forklift though.
 
Originally posted by: Special K
What exactly is causing their hyperinflation? I have read several news articles about the situation in Zimbabwe but none of them offered a cause for it. The best I could infer was that many farms have been seized over the past several years, making food and basic goods extremely scarce, which would in turn raise the price dramatically. Is that correct?
Click to expand...

the government keeps printing money. just like ours is but on a larger scale and no real economy or value to back it up.
 
Originally posted by: IcebergSlim
Originally posted by: Special K
What exactly is causing their hyperinflation? I have read several news articles about the situation in Zimbabwe but none of them offered a cause for it. The best I could infer was that many farms have been seized over the past several years, making food and basic goods extremely scarce, which would in turn raise the price dramatically. Is that correct?
Click to expand...

the government keeps printing money. just like ours is but on a larger scale and no real economy or value to back it up.
Click to expand...

What are they spending it on? What's their excuse for this?
 
Originally posted by: Special K
Originally posted by: IcebergSlim
Originally posted by: Special K
What exactly is causing their hyperinflation? I have read several news articles about the situation in Zimbabwe but none of them offered a cause for it. The best I could infer was that many farms have been seized over the past several years, making food and basic goods extremely scarce, which would in turn raise the price dramatically. Is that correct?
Click to expand...

the government keeps printing money. just like ours is but on a larger scale and no real economy or value to back it up.
Click to expand...

What are they spending it on? What's their excuse for this?
Click to expand...

Stupid bullshit with no legitimate excuse. Just refer to our govt. spending policy.
 
Originally posted by: So
Originally posted by: DisgruntledVirus
What would stop me from buying a crapload of their currency, and sitting on it until it comes back down? Then I profit once their economy comes back into check.
Click to expand...

It won't come back down. When have you ever heard of hyperdeflation? They will just renumber their currency and invalidate the old notes. All you'd get is a chance to turn in your 50 Trillion Zimbabwe Dollar note in for a 5 New Zimbabwe Dollar note.
Click to expand...

I haven't heard of "hyperdeflation", and I obviously missed this part of econ class 🙂

Oh well it would be fun to say I am a trillionaire 😛
 
Originally posted by: darkxshade
Are there any ZWD denomination in coins?
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Not any more.

Heck - they've even had to abandon anti-counterfeit technology for thier bank notes, because the value of the platinum in the anti-counterfeit strip was about 10x the value of the note - and people were ripping out the strips and selling them on the black market.
 
Originally posted by: IcebergSlim
Originally posted by: Special K
Originally posted by: IcebergSlim
Originally posted by: Special K
What exactly is causing their hyperinflation? I have read several news articles about the situation in Zimbabwe but none of them offered a cause for it. The best I could infer was that many farms have been seized over the past several years, making food and basic goods extremely scarce, which would in turn raise the price dramatically. Is that correct?
Click to expand...

the government keeps printing money. just like ours is but on a larger scale and no real economy or value to back it up.
Click to expand...

What are they spending it on? What's their excuse for this?
Click to expand...

Stupid bullshit with no legitimate excuse. Just refer to our govt. spending policy.
Click to expand...

Who are they buying from though? If they aren't buying stuff within their own country, then wouldn't the inflation be occurring elsewhere?
 
Originally posted by: sciencewhiz
In Germany in late 1923, the amount of paper marks it would take to buy firewood would take longer to burn then the firewood. Bread was 80 billion marks per loaf.
Click to expand...

Yea, but it was GOOOD bread!
 
Originally posted by: Special K
Who are they buying from though? If they aren't buying stuff within their own country, then wouldn't the inflation be occurring elsewhere?
Click to expand...

The government prints ZW$, which it attempts to convert to hard currency in order to import goods, and to make payments on loans. Everyone on the outside sees the ZW$ as pretty much worthless, so won't touch it, so every day, the few people left who will change it, want more and more and more ZW$ for 1 USD.

At the same time the actual objective 'value' of the country is reducing - fewer viable farms, fewer viable businesses, lower health and quality of life of the population, less mining/other resource output. The 'value' of a paper currency is essentially, the value of the environment in which it can be used to buy things, divided by the number of currency units available. In Zimbabwe, the problem is a rapidly increasing number of $ and catastrophic descent into poverty of the country, because all the productive infrastructure has been destroyed.
 
Originally posted by: Mark R
Damn. OP got a bad deal.

Last I heard was that the rate is closer to about ZW$220,000,000,000 per USD.

Notes are readily available on ebay, but you'll pay way over the odds for them. 50 billion $ bill
Click to expand...

your number is wrong...

according to xe.com, 1.00 CAD = 18,512,362,817.62 ZWD
 
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