Residents queue at a bank in Harare on Monday to exchange old banknotes for new -
Long queues formed at banks as people tried to convert their savings -
People in Zimbabwe rushed to shops and banks on Monday to spend or exchange old banknotes before they ceased to be legal tender at midnight (2200 GMT).
Three weeks ago Zimbabwe adjusted its currency, removing three zeros from the values - after years of high inflation.
The central bank indicated that it might allow extensions to the deadline in exceptional circumstances.
But the authorities insisted that the roll-out of the new currency, meant to tackle hyper-inflation, would go ahead.
Supermarket owners in the capital, Harare, reported that business was unusually brisk for a Monday, as people tried to spend their old cash.
Zimbabwean banknotes
Zimbabwe's cash confusion
There were also reports that buses and some shops were already refusing to accept the old notes, and that long queues were forming at banks as people tried to change their old money.
Some banks stayed open more than two hours late to deal with the crowds, AFP news agency reported.
Zimbabwe has endured inflation rates of nearly 1,000%.
The new currency is intended to end the necessity of carrying bags of cash for even small purchases, and eliminate the multiple zeros that Zimbabweans have become used to seeing on price tags.
A loaf of bread, for example, will now cost 220 Zimbabwe dollars, as opposed to 220,000 old Zimbabwe dollars -
In a very real sence, games can go on for ST - The question here is; Can the circus thru "fiat paper wealth" go on a bit more? -
History has shown that they end suddenly! - with great puzzlement as to the loss of all importance - without wealth the end result -
Silver will always be part of "The Real Gold & Silver Money" - Some defend a fraud system with that, "its far too small a market for large, modern economies" -
Well, its only to put a higher fair value on the Silver money - it used to be worth $800/oz 500 years ago -
take the inflasion into the picture and Silver maybe worth - a fair market value $80,000/oz sooner or later? -
Silver will do far better than any fiat fraud paper asset - it will serve better as a "personal holding" and as the major Real Money when its valued to its fair market value -
If it is of your way to balance wealth, then Silver will show the LT Real value -
Metals have not shown their true worth for many years as the world has done very well with manipulations of fiat fraud paper money -
This is very good some say - outside of ex. FMNJ Potosi -
But, all things do change! -
As it is our time and place to live this change - our thoughts must view the future as it must be! -
Who can know the minds of men and countries - as the 666 fiat paper burns? -
In our present system - all fiat currencies are backed by the US$ -
as long as the US$ is on an "oil standard" of backing - no other country can change -
the BIS would destroy their economy in a second of storm -
Many think that a country may sell or cut it's CB/US debt backing at will! -
They cannot? - they will not! - Oil will not accept another system? - as long as the Oil/Gold bond works? -
the world currency system is somewhat in a counterfeited owg order? -
If a crisis erupts and Gold breaks the bond with oil - then a change must take place! -
We will no doubt see a mass run of CBs into Gold - at ANY price! - this we know! - as for now - each person must protect your worth -
as the nation/state is locked from change? - You still may have a little bit of some time -
FMNJ - need an 'every day Update' on the - Silver Companies > Market cap's (updated?) -
Unless the United States gets all of its economic house in order ? -
Gold will become the basic real money again - (which Gold has been for 1000's of years) and national currencies will only be money - if backed by - Gold.
With the exception only of the periods of -
- The Great Gold Standard -
practically all governments of history -
have used their exclusive power to issue fiat money -
to defraud with totalitarian bureaucratic powers - rob, plunder and to make slaves - of most the people -
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