Entry Submitted by MenoReno at 12:49 PM EDT on March 31, 2020
There seems to be a lot of discussion about Zim rates. Some Dinarians think the rates quoted by the gurus are too low.
I guess the idea of getting $11 million for something you paid less than $100 for is not a sufficient return for them. They would prefer $11 billion so they can pursue their projects and 'heal' the world.
That's a noble sentiment, but it is detached from reality. If I could get $11mil for my 100T notes tomorrow, I wouldn't think twice about taking it.
OTH, I have told you about private buyers looking for Zim Argo-cheques. The prices for the 100B versions are now about equal to the 100T.
What I didn't tell you, is the offer was for $100 million per 100B note. And this is from private buyers, not the banks buying for the Treasury. If they are paying that much, than they must be getting even more for them.
The bottom line is, nobody knows what the rates will be until we get the offer from the exchange officer. According to the gurus, we should know tomorrow.
And if you believe that one, I've got a bridge in Brooklyn you might want to buy.
MenoReno
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