Earthfirst: Zimbabwe's economy destroyed by A "Giant Ponzi Scheme"
by Tyler Durden Fri, 03/01/2019 - 21:45
Almost two decades of profligate monetary policy has destroyed Zimbabwe’s economy and fueled rampant inflation, decimating the savings of its people twice.
Hyperinflation of as much as 500 billion percent in 2008 made savings worthless and led to the abolition of the local currency in favor of the dollar the following year. In 2016, former President Robert Mugabe’s cash-strapped government introduced securities known as bond notes that it insisted traded at par with the dollar. In 2018, it separated cash from electronic deposits in banks without reserves to back them, causing the black-market rate to plunge.
Last week, it threw in the towel and allowed bond notes to trade at a market-determined level, once again slashing the value of savings.
Post From IQDCalls Chat Room
Chat Room News Excerpts & Highlights Friday Evening 3-1-19
Young SC BRUCE SAYS WE'LL SOON EXCHANGE!!!!!!
Smv1970 Yeah Bruce was expecting to get 800# after show last night. Lol
futuremoney Deano Yo' Tony said the rate is 35 dinar per dollar in country. ;Thud
futuremoney im so excited.. :Yawn
Deano @futuremoney yeah that's what I heard. Which equals out to $2.86
futuremoney ill take it
Tebow me too
The FUTURE of WORK
America’s Professional Elite: Wealthy, Successful and Miserable
The upper echelon is hoarding money and privilege to a degree
not seen in decades. But that doesn’t make them happy at work.
By Charles Duhigg
Illustration by Tracy Ma
MY FIRST, CHARMED week as a student at Harvard Business School, late in the summer of 2001, felt like a halcyon time for capitalism. AOL Time Warner, Yahoo and Napster were benevolently connecting the world. Enron and WorldCom were bringing innovation to hidebound industries.
President George W. Bush — an H.B.S. graduate himself — had promised to deliver progress and prosperity with businesslike efficiency.
The Future of Work
The $15 Minimum Wage Doesn’t Just Improve Lives. It Saves Them.
By Matthew Desmond
Illustration by Tracy Ma
IN 2014, Julio Payes was working 80 hours a week at two full-time jobs. A permanent resident from Guatemala who came to the United States on a work visa, Payes labored in Emeryville, Calif., a city of roughly 12,000 residents and almost 22,000 jobs, sandwiched between Oakland and Berkeley.
2Cents: Does anybody else find it odd that there was this Huuuuuuuge meeting at the Peace Palace last night and there is so little reporting as to the outcome??????? Even the Kurds attended!!!!! By the way, the Kurds had a delegation in the US this evening addressing the US Chamber of Commerce on Investment opportunities in Kurdistan.....
MilitiaMan: Fascinating turn of events. ISIS is said to be 100% done, it appears they have Bahgdadi in the bag.. lol They had a meeting with the AMF / IMF on the 27th and finished yesterday on 28th, they told us about the Customs and Taxes being put in force whereby, putting pressure on the citizens to pay them, they had meetings with the Governors in the provinces throughout the country in regard to the 2019 Budget Allocations for re construction and the Citizens needs and then top it off the Peace Palace, as you point out 2cents!! Well done!
So, with that said, we can an scratch our heads and think. Why all the convergence on a Thursday? After banks are closed? Is it me or didn't Kuwait make a move way back on a Thursday and then show their hand on a Sunday? Things that make one go hummm... lol We shall see.. imo All looks very promising none the less! ~ MM