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	<title>Comments on: Zimbabwe Inflation Rate Tops 4,500% Per Year</title>
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	<description>An independent perspective on the Australian and global investment markets</description>
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		<title>By: CG</title>
		<link>http://www.dailyreckoning.com.au/zimbabwe-inflation-rate/2007/06/15/comment-page-1/#comment-2392</link>
		<dc:creator>CG</dc:creator>
		<pubDate>Tue, 19 Jun 2007 23:55:36 +0000</pubDate>
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		<description>Hi Bill,

Your flippant and light hearted approach is usually refreshing, on Zimbabwe you have missed the mark and sadly not used your skills to convey the essence of the sick situation to your readers.

Remarks like Mugabe being democratically elected are wrong and sadly you have missed a valuable opportunity to have a go at his so called &quot;democratic election&quot; which is, at the end of the day, the nub of the problem. There is after all a black government in waiting which would have majority support if allowed a fraction of the room to move it would have as a matter of right in any other part of the world.

Buying black market dollars and selling them to the govt is also 180 degrees out - if you think about it?

While no one in their right mind would put real money into the country, ironically, in real value terms, there are going to be some real bargains in Zimbabwe one day. This, and the impending collapse (and day of reckoning) driven by the hyper inflation, may be driving the stock exchange by internal investors. It would be interesting to know who is buying what.

There is not much left to loot but forcing international investors to sell ownership of local companies to indigenous Zimbabweans is still available even in the &#039;death throws&#039;.

Keep up the good work but crucify the bastards at every opportunity.

regards

CG</description>
		<content:encoded><![CDATA[<p>Hi Bill,</p>
<p>Your flippant and light hearted approach is usually refreshing, on Zimbabwe you have missed the mark and sadly not used your skills to convey the essence of the sick situation to your readers.</p>
<p>Remarks like Mugabe being democratically elected are wrong and sadly you have missed a valuable opportunity to have a go at his so called "democratic election" which is, at the end of the day, the nub of the problem. There is after all a black government in waiting which would have majority support if allowed a fraction of the room to move it would have as a matter of right in any other part of the world.</p>
<p>Buying black market dollars and selling them to the govt is also 180 degrees out - if you think about it?</p>
<p>While no one in their right mind would put real money into the country, ironically, in real value terms, there are going to be some real bargains in Zimbabwe one day. This, and the impending collapse (and day of reckoning) driven by the hyper inflation, may be driving the stock exchange by internal investors. It would be interesting to know who is buying what.</p>
<p>There is not much left to loot but forcing international investors to sell ownership of local companies to indigenous Zimbabweans is still available even in the 'death throws'.</p>
<p>Keep up the good work but crucify the bastards at every opportunity.</p>
<p>regards</p>
<p>CG</p>
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		<title>By: John</title>
		<link>http://www.dailyreckoning.com.au/zimbabwe-inflation-rate/2007/06/15/comment-page-1/#comment-2363</link>
		<dc:creator>John</dc:creator>
		<pubDate>Fri, 15 Jun 2007 04:56:57 +0000</pubDate>
		<guid isPermaLink="false">http://www.dailyreckoning.com.au/zimbabwe-inflation-rate/2007/06/15/#comment-2363</guid>
		<description>I think you have that the wrong way round.  Mugabe&#039;s cronies don&#039;t &quot;buy U.S. dollars on the black market and sell them to the government at the official rate.&quot;  That would make no sense (buy high, sell low).  They BUY their US dollars at the official rate (Z$250 per US dollar) and then sell them on the black market  where they can get Z$100,000 for each US dollar.  Z$250 becomes Z$100,000.  What a deal!  Where do I sign up?

This whole hyper-inflation/ collapsing economy situation may seem mildly fascinating to those who don&#039;t have to live with it every day.  Unfortunately the reality is so much more tragic.  It&#039;s hard to see how things will ever begin to get better.  As bad as things seem now they&#039;re going to get a whole lot worse over the next 6 months or so.  Not a pretty sight at all.  Very sad.  Not the country I left 30 years ago. Or even 15 years ago, for that matter.</description>
		<content:encoded><![CDATA[<p>I think you have that the wrong way round.  Mugabe's cronies don't "buy U.S. dollars on the black market and sell them to the government at the official rate."  That would make no sense (buy high, sell low).  They BUY their US dollars at the official rate (Z$250 per US dollar) and then sell them on the black market  where they can get Z$100,000 for each US dollar.  Z$250 becomes Z$100,000.  What a deal!  Where do I sign up?</p>
<p>This whole hyper-inflation/ collapsing economy situation may seem mildly fascinating to those who don't have to live with it every day.  Unfortunately the reality is so much more tragic.  It's hard to see how things will ever begin to get better.  As bad as things seem now they're going to get a whole lot worse over the next 6 months or so.  Not a pretty sight at all.  Very sad.  Not the country I left 30 years ago. Or even 15 years ago, for that matter.</p>
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