Loading ...SB 22:59
ahh a starman living in bc. roger that SB. [g]
fully please enter our very own starman in the locator now residing in bc. tia
SB all in good humor of course. cheers. wj
Shortage of paper
VOA
By Patience Rusere
Washington
14 July 2008
Zimbabweans are again facing acute cash shortages and long lines at banks, a
development economists attribute to unremitting hyperinflation combined with
last month’s decision by a German printing firm to cut off the central
bank’s supply of banknote paper.
Sources in Harare reported long lines at banks and other financial
institutions with few automated teller machines in service.
In Bulawayo most people are said to be relying on the parallel market to
obtain cash - only companies and civil servants are turning to banks to meet
their needs.
Sources in Mutare, in eastern Zimbabwe, said most consumers are trading in
and out of hard currencies like the dollar to preserve the value of their
money against roaring inflation.
Economist Godfrey Kanyenze, director of the Labor and Economic Development
Research Institute of Zimbabwe, told reporter Patience Rusere of VOA’s
Studio 7 for Zimbabwe that hyperinflation has combined with the loss of the
paper source to create a cash crunch.
Mutare resident Brendan Dhliwayo explained how he is coping with the
shortages.
Goldi…I could be mistaken or Nieve
but….I dont think scrap gold will have much impact on the total supply demand ratio at this point..
…
WANKA @ 22:52
Put my money on the midwest.
Re: Welcome
I fell outta the sky a few weeks ago in BC, so I guess that’s where I hail from…
sabersbuddy 22:49
from where do you hail? would you wish to be in our locator? cheers. wj
sabre, a few little pointers
Lastly, I am baffled that anyone can look at today’s issue which is insolvency and somehow come up with hyper-inflation.
Stick around for another 3-4 years and you will find out what inflation is. Gold does well in environments of negative interest rates, followed by rising rates…NOT during periods of falling interest rates. During deflation, everything is liquidated, which drives in turn drives the price of gold lower. Gold has not turned down and is on its way to well above $3000/ounce. This is anything but deflation, as suggested by the negative interest rate environment and continuous expansion of M3. M3 is fiat expansion plus credit…they can not be separated, especially in today’s age.
When deflation hits, you will know it, so until then grab a history book to review or live and learn….
Your pal
FGC
No, it isn’t. Thats what I thought too. Theyr were putting it away, maybe sold some. But remember my post a few months ago that I went to a coin and jewlery store. That they told me they haven’t been doing any selling, only buying. That with gold up, everyone was selling, there were no buys. And that he speculated wit rising fuel prices along with gold prices was the reason. Thats why I started to, “wonder, what they could do with that” I don’t think they would buy it, melt it at some cost to do so and sell it at a loss.
hi gang
i have been scoping out the ‘break the matrix’ site and find it to be a primo freedom site which is new in the makings and imo a#1. we have it linked in our ‘links’ menu for easy access.
cheers wanka-john wj
This one scares me
What will the USA look like in the Next Decade (2010 thru 2020)
Weimer Germany (Hyperinflation) (33%, 34 Votes)
Dirty 30s (Depression) (25%, 26 Votes) ……………….Sabre has company
Late 70s early 80s (Stagflation) (22%, 23 Votes) …….PM Fever has Company
Apocalypse Now (13%, 13 Votes)
Same as present Decade (4%, 4 Votes)
Roaring 20s (Prosperity) (3%, 3 Votes)
Goldi….thats naive..
…i dont know anybody who has sold jewlery…
….maybe less people wear theirs for fear of theft….at 1000 an ounce its a good target…
Overseas…….
NEW ZEALAND’S INFLATION RISES TO 18-YEAR HIGH
HONG KONG (MarketWatch) — New Zealand’s inflation rate climbed to an 18-year high in the second quarter, lifted by surging food and fuel prices.
The consumer price index rose 1.6% from the first quarter and was up 4% from the same period a year earlier, Statistics New Zealand said Tuesday. The consumer price gains were the fastest seen since the second quarter of 1990.
The quarterly results exceeded forecasts by the Reserve Bank of New Zealand, which had expected a 1.4% rise on quarter and a 3.8% rise on year.
The Reserve Bank will consider reducing interest rates at its monetary policy meeting July 24. The central bank kept the Official Cash Rate unchanged at 8.25% last month, but said it would likely ease interest rates before the year end because of the possibility of recession as households reduce spending and business investment slows.
~ ~ ~ ~ ~
Asia/Pacific Region….the BLEEDING continues
finance.yahoo.com/intlindices?e=asia
~ ~ ~ ~
What a day for our PMs!!!!
Cheers!!!!
JBI
Now another blast from the past April 26th Poll
When will the Gold High of 1026 on March 16 be Exceeded
May 08 (30%, 43 Votes) ………………………….a little too Optomistic
4th Quarter 08 (22%, 32 Votes) …………………Odds on favorite right now
June 08 (15%, 21 Votes) …………………………No Cigar
Sept 08 (6%, 9 Votes) ……………………………Maybe just maybe
April 08 (6%, 8 Votes) …………………………….Woops
1st Quarter 09 (5%, 7 Votes) …………………….Be surprised if that long…but maybe
July 08 (4%, 6 Votes) ………………………………Still 2 weeks to go….woulnt that be something !
2010 or later (3%, 4 Votes) ………………………..bah Humbug
Aug 08 (3%, 4 Votes) ………………………………..could easily be the one
4th Quarter 09 (2%, 3 Votes) ……………………….Bah too
Never (2%, 3 Votes) ………………………………….Nerds
3rd Quarter 09 (1%, 2 Votes) …………………………cant wait that long
2nd Quarter 09 (1%, 2 Votes) ………………………….ditto
Total Voters: 144
North
Welcome back, buddy. It’s great to see you posting here again. Gotta love those PMs, huh? And the best is yet to come!!!!
Best wishes!
JBI
P.metallic
All the selling. I remember as early as a few yrs. ago people had much gold jewelery. Some even young tellers in stores had gold rings on every finger. Now I hardly see anyone wearing gold of any kind except wedding bands. People have been selling their jewlery like crazy. I may be imagining things, but I wonder if its all part of the plan. They (people) bought for more, probably sell it for less, till the majority of people hold little gold left to any, selling on every…slow rise. Then when the selling has come to a stop, or near stop, because its gone,and theyre holding the majority of it, the price goes way up, or they announce a partial gold backed dollar. Well the last part, gold back dollar, Im sure theyll try to fight that. But like I say could just be imagining things, but it would be good to know if this time ever came, that our slow suffering may soon be over.