Entry Submitted by Gene at 1:32 PM EDT on April 29, 2019
"Zim Bond vs. Zim Currency" by kb - 4.28.19
Zim bonds are all 2008, 2009 dated Zimbabwe dollar notes (AA or AB series because there were only 7 digits for the serial number which would mean only 10 million of each series was able to be printed - either is redeemable). It will say on the face "I agree to pay the bearer..." which makes it a bearer bond, not a currency.
They also were issued from very low denominations (millions maybe smaller) to the largest being a 100 trillion note. Sadly, into 2009, the countries financial shape was so far into the toilet that it took a fistful of Zim (higher denominations) to buy even a loaf of bread. They were so worthless that people (in Zimbabwe) were using them for wallpaper. If they only knew.
Whatever you see the online currency dealers selling are zim bonds.
We used to just refer to them as "Zim" and everyone knew. Up until recently where Zimbabwe is considering either reissuing the Zim as a currency or coming up with a new one, Zimbabwe was using the US dollar and other currencies and didn't have a reserve currency of their own post Zim bonds.
The Zim were bonds as stated above and not a currency though many referred to them as such. You can devalue or defunct a currency. You can't do that to a bond because a bond is basically a loan from the buyer to the seller where the bond itself is proof of that loan and though the value of the bond fluctuates (higher but not lower), it must be paid back at its minimum at the amount loaned to the seller (a.k.a 1:1 or if you prefer, face value but nothing less).
Bearer bonds require no proof of ownership. Whoever is holding it in their hands when redeemed (a.k.a. "bearing" it) must be paid its current value but nothing less than 1:1.
I hope this helps answer your question.
Signed: Gene
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © 2019 Dinar Chronicles
"Zim Bond vs. Zim Currency" by kb - 4.28.19
Zim bonds are all 2008, 2009 dated Zimbabwe dollar notes (AA or AB series because there were only 7 digits for the serial number which would mean only 10 million of each series was able to be printed - either is redeemable). It will say on the face "I agree to pay the bearer..." which makes it a bearer bond, not a currency.
They also were issued from very low denominations (millions maybe smaller) to the largest being a 100 trillion note. Sadly, into 2009, the countries financial shape was so far into the toilet that it took a fistful of Zim (higher denominations) to buy even a loaf of bread. They were so worthless that people (in Zimbabwe) were using them for wallpaper. If they only knew.
Whatever you see the online currency dealers selling are zim bonds.
We used to just refer to them as "Zim" and everyone knew. Up until recently where Zimbabwe is considering either reissuing the Zim as a currency or coming up with a new one, Zimbabwe was using the US dollar and other currencies and didn't have a reserve currency of their own post Zim bonds.
The Zim were bonds as stated above and not a currency though many referred to them as such. You can devalue or defunct a currency. You can't do that to a bond because a bond is basically a loan from the buyer to the seller where the bond itself is proof of that loan and though the value of the bond fluctuates (higher but not lower), it must be paid back at its minimum at the amount loaned to the seller (a.k.a 1:1 or if you prefer, face value but nothing less).
Bearer bonds require no proof of ownership. Whoever is holding it in their hands when redeemed (a.k.a. "bearing" it) must be paid its current value but nothing less than 1:1.
I hope this helps answer your question.
Signed: Gene
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © 2019 Dinar Chronicles
0 Comments: