Thread: Talk About Inflation?

Interesting,

Monetary officials in Zimbabwe unveiled the $10 million bill this morning. Inflation is out of hand over there:

60 million Zimbabwe bucks… about $23 U.S.

According to the BBC, Zimbabwe’s incredible monetary decline over the last eight years has brought on an estimated 50,000% inflation rate. The new $10 million bill will be little more than a tiny bandage on a gaping, festering wound. Halting the Zimbabwean dollar’s nose dive to worthlessness is all but impossible.
The new bill is mostly “designed” to elevate pressure on banks, which are unable to keep up with monetary demand. Queues form around the corner of banks every morning, and most are out of cash by lunch. At a black market exchange rate of around US$1 per 2.5 million Zimbabwe bucks…. there’s not enough paper bills to fill the demand.

This is just outrageous. That would make a sandwich five million bucks.

Warning...............

U.S. Dollar may be in similar trouble as inflation is eating away at dollar from one end while depreciation is eating from the others. Soon, there won't be any value at all, so dump those dollars folks, put it anywhere else offshore to be safe when the dollar totally implodes.

Good luck to all, Mike

Hello Offshore, if you wouldn't mind; Where would you put your money. Do you put it in a country's currency that may be undervalued or a currency like the euro??? Just your thoughts please will not hold you to the advice (ha ha)

Originally Posted by wmp

Hello Offshore, if you wouldn't mind; Where would you put your money. Do you put it in a country's currency that may be undervalued or a currency like the euro??? Just your thoughts please will not hold you to the advice (ha ha)

As crazy as these markets have been, totally unhinged to conventional moves, you just never know day to day. With gold retreating, it was a clear indication inflation is hitting the world hard, and with no rate increase in Europe, this sent the dollar up today which caught everyone by surprise and was quite unexpected. I switched to long dollar for a ride, so we shall see, but Euro is not the currency.

Good luck to all, Mike