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The stats speak for themselves

aivern

New Contributor
Feb 9, 2008
8
1
8
Hi all,

My location will be irrelevant to most of you so I won't bother you with it... What May interest you is the following stats... Inflation 23 000 %, Unemployment 90%, Balance of Payment 1 USD : 7,500,000 local Units, GDP - 30 %... Crazy ain't it. p.s this is not a war zone just plane crazy government.

Am I a millionaire yes in my local currency cause I earn 750,000,000.00 a month no in USD cause that is only 100 USD. Savings about 300 USD. Anyway enough of that. Things haen always been this crazy.

I recently acknowledged my 28th birthday and It wasn't celebration time cause I realized that This was the age I have been eying to venture out . LOL one icon here started a bank at 28 and its one of the 13 commercial banks here so there is plenty to do yet.

I am currently the General Manager of a software development company which employs 19 people including 5 software developer. Our flagship software is an Investment management software that we are currently implementing at two Mutual Fund Houses here.

Anyway here is a hint at my plan. I wish to own a venture capital firm at the age of 35... Not too much of a stretch... I will start off by buying businesses outright- don't ask about financing I will find it ps loans here are rare and rates can be as high as 6000%... I am considering buying the businesses in other countries as well cause trying to get into business in a negative GDP country is like running up a downwards excarlator. The cool thing about buying a business is that, if you buy a good businesses you can influence capital allocation. Like buffet you can start off with a textiles business and end up with an insurance empire.


You have all been greeted:tiphat:
 

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CardinalsFan

Contributor
Feb 6, 2008
140
21
22
31
Charlotte
My name a Borat. I come a from Kazakhstan. I arrived in the country with clothing, US dollars and a jar of gypsy tears to protect me from AIDS.

But really...where are you from?
 

CardinalsFan

Contributor
Feb 6, 2008
140
21
22
31
Charlotte
Hi all,

My location will be irrelevant to most of you so I won't bother you with it... What May interest you is the following stats... Inflation 23 000 %, Unemployment 90%, Balance of Payment 1 USD : 7,500,000 local Units, GDP - 30 %... Crazy ain't it. p.s this is not a war zone just plane crazy government.

Am I a millionaire yes in my local currency cause I earn 750,000,000.00 a month no in USD cause that is only 100 USD. Savings about 300 USD. Anyway enough of that. Things haen always been this crazy.

I recently acknowledged my 28th birthday and It wasn't celebration time cause I realized that This was the age I have been eying to venture out . LOL one icon here started a bank at 28 and its one of the 13 commercial banks here so there is plenty to do yet.

I am currently the General Manager of a software development company which employs 19 people including 5 software developer. Our flagship software is an Investment management software that we are currently implementing at two Mutual Fund Houses here.

Anyway here is a hint at my plan. I wish to own a venture capital firm at the age of 35... Not too much of a stretch... I will start off by buying businesses outright- don't ask about financing I will find it ps loans here are rare and rates can be as high as 6000%... I am considering buying the businesses in other countries as well cause trying to get into business in a negative GDP country is like running up a downwards excarlator. The cool thing about buying a business is that, if you buy a good businesses you can influence capital allocation. Like buffet you can start off with a textiles business and end up with an insurance empire.


You have all been greeted:tiphat:
Saturday, February 9, 2008
100 US Dollar = 3,069,471 Zimbabwe Dollar
100 Zimbabwe Dollar (ZWD) = 0.003258 US Dollar (USD)
 
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aivern

New Contributor
Feb 9, 2008
8
1
8
There's no passing one through you guys... Yes greetings from Zimbabwe. It would be awesome to heart the rest of your story Borat... I will foll your posts just now... Where did you get your Feb 9 Figures... Those seem to reflect the situation about 3 weeks back.... We have three exchange rates. The official 1 USD to 30,000 USD (noone is foolish enough to use that) The cash rate 1: 7,200,000 on Friday (Was 1: 3,500,000.00 3 weeks ago) and the Bank Transfer rate which is about 1USD to 8,000,000.00.


Awesome net skills AlwaysCurious... What do you guys think about the plan. Is it possible?
 

CardinalsFan

Contributor
Feb 6, 2008
140
21
22
31
Charlotte
Hey I apologize I am over my head here, I was quoting a line from the movie "Borat" which now doesn't seem to be funny due to the fact that it was extremely inappropriate. I'm sorry if that offended you.

I got the exchange rate after I typed in Zimbabwe currency converter into google.
 

MJ DeMarco

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Hello and thanks for joining. I wish I could comment on your plan but can't since I'm not familiar with your country, its needs, its culture, and its economics. I do know that having a plan is one of the first steps so congrats on that.
 
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aivern

New Contributor
Feb 9, 2008
8
1
8
Thanks all... I will contribute to discussions where my worldview is relevent...
 

Rawr

Gold Contributor
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Aug 12, 2007
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Are you cool with us asking questions in this thread about your country? Having a perspective of someone living in Zimbabwe is fascinating.

If you don't mind, I have a few:

Is there a chance the government will implement a new currency that will disallow such huge paper waste (blocks of $$$ for one beer is tough to carry around and is toxic)

If you make $100, what are typical expenses? food, alcohol, rent, movie?

How do you afford internet!?

Thank you for posting, this is really eye opening! (especially the 9 out of 10 don't work figure)
 

Rawr

Gold Contributor
Speedway Pass
Aug 12, 2007
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For those like myself who knew jack about Africa (or just what the TV shows) I highly recommend checking out pictures in this facebook group

http://mnsu.facebook.com/group.php?gid=7228515974

Holy buckets
 

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aivern

New Contributor
Feb 9, 2008
8
1
8
Hay Rawr... Explaining our economics is always self enlightening.

July 2006 the Gov dropped three zeros off the currency in an 3 week exercise. This meant you had to take in your old notes

and you would get new ones that had three less zeros. It saved them face but did little else. They have since decided to just

print higher denominations and phase out the old ones. Heheee that means that I will be earning billions this month. Ok in

asset terms I am one already a billionaire. Many Zeros render foreign bank software useless try putting a billion bucks in

your quickbooks and see. That is the primary reason why we have managed to start a software development company. The business

rules here are totally different from anywhere else.

Expenses humm... Our PPP is about 5 times yours which means that 100 USD probably does what 500 would do for you... This is

on ave... The rule is generally that you can buy anything that is made In .zw for a tenth of what you would pay but at least

twice what you guys pay for things that are imported, i.e Cars, Computers, Generators the works. Yes Generators... life is

quite cool if you do not wait for anything that has the gov involved.

While our Formal economy is shrinking at a rate of 30% a year the informal economy is growing well at a fraction of the

30%... Its wierd in that Once things used to be available in shops but now they are there but not in the shops... Thats how

the 7 out 10 people make a living. I have found my self reading much into the Indian economy because there are a lot of

similarities that have risen lately... Especially the wealth at the bottom of the pyramid.

Its so fascinating its like watching it like I am watching reality TV. Oh yes currency dealers and otherware dealers drive

the Mercs here. The professionals barely get by. OK I do not want to make this too long.

I have 24 hour access to the Internet at Home and at work.
 

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