Author Topic: Mugabe Interviewed in Abuja  (Read 20997 times)

Offline Omollo

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Re: Mugabe Interviewed in Abuja
« Reply #80 on: June 13, 2015, 10:02:38 PM »
I thought the US benefits from more countries using the dollar? It is a currency not backed by any collateral and only depends on itself.

About US leadership: In the case of Zim, the US acted in solidarity with UK. However when the black caucus got involved and understood the issues, the matter became complicated. I am grateful to Mbeki. He stood firm and refused to respond to emotions, even calming Mandela who had become susceptible to certain influences.  All these forces helped to dampen US support for Blairite sanctions.

The AU may be a talking shop but Mugabe explained his case and apart from a few countries, the majority understood.

I cannot forget the Vatican. The Vatican repeatedly invited Mugabe to Europe much to the chagrin of Blair.

Lastly on a personal note: If it were not for work, I would never set foot in UK.
Next Moonki will want Mugabe to abandon using anything american. USD is just like the computer I'm using. It US manufactured but I bought it. The same with USD. No one has beef with American people and it's product. The beef remain with PARTICULAR LEADERSHIP of US.
There is nothing amusing about Zim adopting USD while cursing US.
Zim took an economic decision. It was not based on love or hate.

Personally, I think it was genius. It rendered all the MI6 and CIA printed Zim dollars useless. Of course I was disappointed that they did not dump USD in the slums to create "inflation".
... [the ICC case] will be tried in Europe, where due procedure and expertise prevail.; ... Second-guessing Ocampo and fantasizing ..has obviously become a national pastime.- NattyDread

Offline Kim Jong-Un's Pajama Pants

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Re: Mugabe Interviewed in Abuja
« Reply #81 on: June 13, 2015, 11:13:56 PM »
I see that positions are entrenched.  While Mugabe has presided over Zim as it went from a bread basket to basket case.  He remains popular at least to those of his countrymen who haven't left.  And things are looking up, according to others.  vooke just calls it that Negro enigma.

I have also read reports that they also used the Rand and Pula.  I am just curious about how a country goes about adopting a foreign denomination as its currency?  How that works for the regular joe.  An employee for instance.  Do they get paid a few pennies and dimes at the end of the month?

Meanwhile, Zimbabwe offers new exchange rate: $1 for 35,000,000,000,000,000 old dollars.  Is there a name for that kind of number? 

http://www.theguardian.com/world/2015/jun/12/zimbabwe-offers-new-exchange-rate-1-for-35000000000000000-old-dollars
"I freed a thousand slaves.  I could have freed a thousand more if only they knew they were slaves."

Harriet Tubman

Offline Omollo

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Re: Mugabe Interviewed in Abuja
« Reply #82 on: June 14, 2015, 12:51:20 AM »
Termie: https://en.wikipedia.org/wiki/Currency_substitution

Kenya Shilling is freely used in Somalia. It can buy goods in TZ but change is given in TZS.

If you miss USD in South Sudan, KES do just fine!
... [the ICC case] will be tried in Europe, where due procedure and expertise prevail.; ... Second-guessing Ocampo and fantasizing ..has obviously become a national pastime.- NattyDread

Offline Kim Jong-Un's Pajama Pants

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Re: Mugabe Interviewed in Abuja
« Reply #83 on: June 14, 2015, 01:17:00 AM »
Termie: https://en.wikipedia.org/wiki/Currency_substitution

Kenya Shilling is freely used in Somalia. It can buy goods in TZ but change is given in TZS.

If you miss USD in South Sudan, KES do just fine!
Ok.  Those seem like situations where foreign currencies are freely accepted.  Zim's situation sounds like something more drastic.  Where the foreign currency completely replaces the local one. 

I guess the story I linked to kind of shines a light on how it works.  But what if the dollar denominations are just too big?
"I freed a thousand slaves.  I could have freed a thousand more if only they knew they were slaves."

Harriet Tubman

Offline Kim Jong-Un's Pajama Pants

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Re: Mugabe Interviewed in Abuja
« Reply #84 on: June 14, 2015, 03:00:39 AM »
Omollo,

I just read link thanks.  I think Panama uses the US dollar alongside it's own coins.  I guess the Zimbabweans will probably do the same.
"I freed a thousand slaves.  I could have freed a thousand more if only they knew they were slaves."

Harriet Tubman

Offline Omollo

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Re: Mugabe Interviewed in Abuja
« Reply #85 on: June 14, 2015, 03:42:18 PM »
We are good.
Omollo,

I just read link thanks.  I think Panama uses the US dollar alongside it's own coins.  I guess the Zimbabweans will probably do the same.
... [the ICC case] will be tried in Europe, where due procedure and expertise prevail.; ... Second-guessing Ocampo and fantasizing ..has obviously become a national pastime.- NattyDread