"Zim 100T Equals 37,500,000?" by Wispy 5/31/19
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"Zim 100T Equals 37,500,000?" by Wispy 5/31/19
by RamblerNash Sat Jun 01, 2019 10:12 pm
RE: Restored Republic via a GCR: Update as of May 31, 2019
"7. Rumor was that the Dinar rate was around $10, Dong around $2.50 and 100T Zim Note worth $37,500,000. ( Mark Z )"
Are thy lopping off the 6 zeroes again? Trying to steal millions for redemption for the banks?
A bond is supposed to be redeemed for the face value. How can this be if the rate was 1:1 with the USD? Are they lowering the rate to peanuts to equal 6 zeroes take off?
If it is not redeemed for the full 15 zeroes, Is that not illegal? What is our recourse if they try to short the exchange? I had just as soon burn it as let them have it.
That little money will not get anything accomplished on infrastructure when everything is a billion dollars or more.
What is the point?
Thanks,
Wispy
****
RE: "Zim 100T Equals 37,500,000?" by Wispy - 5.31.19
I agree about the lopping off 6 zeros. I have 3 different exchange rate pages and all three say to lop off 2 zeros and then its between the rates of 27 cents to 31 cents. That puts the 100T note between 270B and 310B each, which makes more sense. I still dont like the rate but it is better than the new rates we are hearing. I can still do my projects with this amount.
Theresa
"7. Rumor was that the Dinar rate was around $10, Dong around $2.50 and 100T Zim Note worth $37,500,000. ( Mark Z )"
Are thy lopping off the 6 zeroes again? Trying to steal millions for redemption for the banks?
A bond is supposed to be redeemed for the face value. How can this be if the rate was 1:1 with the USD? Are they lowering the rate to peanuts to equal 6 zeroes take off?
If it is not redeemed for the full 15 zeroes, Is that not illegal? What is our recourse if they try to short the exchange? I had just as soon burn it as let them have it.
That little money will not get anything accomplished on infrastructure when everything is a billion dollars or more.
What is the point?
Thanks,
Wispy
****
RE: "Zim 100T Equals 37,500,000?" by Wispy - 5.31.19
I agree about the lopping off 6 zeros. I have 3 different exchange rate pages and all three say to lop off 2 zeros and then its between the rates of 27 cents to 31 cents. That puts the 100T note between 270B and 310B each, which makes more sense. I still dont like the rate but it is better than the new rates we are hearing. I can still do my projects with this amount.
Theresa
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