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Zimbabwe: Gold Deliveries Fall 181,6 Percent (The Herald)
AllAfrica Global Media ^ | Nov 20 , 2008

Posted on 11/20/2008 12:07:34 PM PST by george76

ZIMBABWE'S gold deliveries fell 181,6 percent last month compared to the same period last year.

According to the Chamber of Mines, gold output for October was 125 kilogrammes, down from 352kg last year.

(Excerpt) Read more at allafrica.com ...


TOPICS: Business/Economy; Extended News; Foreign Affairs; News/Current Events
KEYWORDS: diamonds; gold; goldbugs; mines; mugabe; platinum; silver; zimbabwe
This must be the new Zimbabwe math. It would be impossible to fall more than 100% unless they were taking gold back rather than delivering it.

By the article's own numbers of 352 kg last year and 125 kg this year, gold deliveries only fell by 64.5%

Back to school! Oh that's right, they're all closed.

ht comments

1 posted on 11/20/2008 12:07:35 PM PST by george76
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To: SunkenCiv; Clive

The sector has virtually shut down as miners cannot fund operations, senior Zimbabwe chamber of mines official Douglas Verden told Reuters.

At its peak, Zimbabwe produced more than 2 400 kg of gold monthly, but miners, who are owed millions of dollars by the central bank and have to cope with the world’s highest inflation rate above 231 million percent, have ground to a halt.

http://www.fin24.com/articles/default/display_article.aspx?Nav=ns&ArticleID=1518-25_2429845


2 posted on 11/20/2008 12:09:30 PM PST by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: george76

You didn’t factor in the inflation rate...


3 posted on 11/20/2008 12:09:41 PM PST by null and void (0bama is Gorbachev treating a dying system with the same poison that's killing it in the first place)
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To: thackney; Fred Nerks

Apart from funds owed by the central bank, Zimbabwean miners are plagued by frequent power cuts, the flight of skilled labour and foreign currency shortages.


4 posted on 11/20/2008 12:10:18 PM PST by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: null and void

WOW!

So you mean they might have fallen MORE than 181.6%?

Astonishing!


5 posted on 11/20/2008 12:10:50 PM PST by WayneS (Respect the 2nd Amendment; Repeal the 16th)
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To: george76

I sure wish fuel prices would fall 181.6%...


6 posted on 11/20/2008 12:11:11 PM PST by WayneS (Respect the 2nd Amendment; Repeal the 16th)
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To: WayneS

Yeah, ;^)


7 posted on 11/20/2008 12:12:22 PM PST by null and void (0bama is Gorbachev treating a dying system with the same poison that's killing it in the first place)
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To: george76

That place is a blueprint for how to dismantle an economy and F up your country. Probably ‘The “Mr. I Hate America” President’s’ playbook for his administration. Can’t wait!!!


8 posted on 11/20/2008 12:12:26 PM PST by SMARTY ("Stay together, pay the soldiers and forget everything else" Lucius Septimus Severus)
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To: george76
I know oil companies keep several sets of books (they never pay the stated per barrel cost).

These guys have to be just as bad or worse.

Never think what whorescum like these tell you is anything more than a nice yarn spun to sway opinion in their favor, it's the only thing that spurs them on to flap lips in the first place.

9 posted on 11/20/2008 12:12:55 PM PST by norraad ("What light!">Blues Brothers)
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To: george76

They must teach such things in journalism school — “Math 001: Those pesky percentages”.


10 posted on 11/20/2008 12:13:42 PM PST by USFRIENDINVICTORIA
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To: george76

What the hell!?!?!? You mean people have to actually WORK and then be paid for it for things to happen?

But they told us Utopia was no work and everyone’s every desire would be fulfilled!


11 posted on 11/20/2008 12:15:58 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: george76

Apparently the miners are so mad they’re putting gold back into the ground.


12 posted on 11/20/2008 12:17:58 PM PST by ctdonath2 (I AM JOE THE PLUMBER!)
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To: george76
At its peak, Zimbabwe produced more than 2 400 kg of gold monthly, but miners, who are owed millions of dollars by the central bank and have to cope with the world’s highest inflation rate above 231 million percent, have ground to a halt.

Are they saying that people won't work when they're not being paid in currency that's worthless anyway? Who'd a thunk it?

13 posted on 11/20/2008 12:18:26 PM PST by Stentor (b. July 4, 1776 - d. January 20, 2009 sorely missed.)
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To: george76
the flight of skilled labour and foreign currency shortages.

So white guys are running ahead of a necklacing and what foreign currency is earned is probably being spent by the powerful government ministers on their wives Paris shopping trips.

14 posted on 11/20/2008 12:21:44 PM PST by Stentor (b. July 4, 1776 - d. January 20, 2009 sorely missed.)
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To: george76

They have their own Obama.


15 posted on 11/20/2008 12:21:44 PM PST by Doctor Raoul (It's no longer the Press Van, it's a "Tanker" Truck!)
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To: george76

Can you imagine living in a place like Zimbabwe, where you work like a dog, you’re money’s worthless and there’s just stilfling government regulations? Oh, wait, did I just describe America under current and future Democrat rule?


16 posted on 11/20/2008 12:23:26 PM PST by TheThinker (It is the natural tendency of government to gravitate towards tyranny.)
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Comment #17 Removed by Moderator

To: george76

ditto


18 posted on 11/20/2008 12:41:22 PM PST by Jaded
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To: george76

Obviously, even the soldiers are too week to do any mining, what with living on tree bark and insects.


19 posted on 11/20/2008 12:49:16 PM PST by 50sDad (-/\/\/\- Obama's coming; be a Resistor!)
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To: george76; blam; Cincinatus' Wife; sarcasm; happygrl; Byron_the_Aussie; robnoel; GeronL; ZOOKER; ...

-


20 posted on 11/20/2008 12:58:17 PM PST by Clive
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To: Stentor

You mean they didn’t divide up the mines like the farms??
How strange.
/s


21 posted on 11/20/2008 1:22:58 PM PST by tet68 ( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
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To: 50sDad

Secatas and crawdads are both nutricious and delicious.


22 posted on 11/20/2008 1:29:50 PM PST by patton (Caligula Gaius Julius Caesar Augustus Germanicus; Incitatus is my President.)
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To: 50sDad

Oh, and willow bark = asperin.


23 posted on 11/20/2008 1:30:45 PM PST by patton (Caligula Gaius Julius Caesar Augustus Germanicus; Incitatus is my President.)
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To: george76; AdmSmith; Berosus; Convert from ECUSA; dervish; Ernest_at_the_Beach; Fred Nerks; ...

Thanks geo.


24 posted on 11/20/2008 3:04:10 PM PST by SunkenCiv (https://secure.freerepublic.com/donate/_______Profile finally updated Saturday, October 11, 2008 !!!)
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To: SunkenCiv

Just unreal,...and gold prices should be going up!


25 posted on 11/20/2008 4:09:50 PM PST by Ernest_at_the_Beach (No Burkas for my Grandaughters!)
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To: Ernest_at_the_Beach
Yup, it appears the next bubble will be gold (and this has happened before; I've got five tabs with FR topics about this run on gold) and a few other rare / precious metals. The best part is, those who lose their ass when the bubble breaks won't demand a bailout, because they think paper money is worthless. ;')
Google

26 posted on 11/20/2008 4:35:11 PM PST by SunkenCiv (https://secure.freerepublic.com/donate/_______Profile finally updated Saturday, October 11, 2008 !!!)
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TOPICS: Business/Economy; Foreign Affairs; News/Current Events
KEYWORDS: diamonds; gold; goldbugs; platinum; silver; zimbabwe
27 posted on 11/20/2008 4:37:27 PM PST by SunkenCiv (https://secure.freerepublic.com/donate/_______Profile finally updated Saturday, October 11, 2008 !!!)
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To: george76; null and void

Had it risen from 125 to 352 they would have said it rose by 181%. But yes, that is a 64% drop.


28 posted on 11/20/2008 4:52:53 PM PST by scrabblehack
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To: scrabblehack

Not in New Math...

;^P


29 posted on 11/20/2008 4:58:28 PM PST by null and void (0bama is Gorbachev treating a dying system with the same poison that's killing it in the first place)
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To: Ernest_at_the_Beach
...and gold prices should be going up!

Gold appears to have made a bottom and the technical inidcators are turning up. All that cash on the sideline has to go somewhere, and stocks ain't it.

30 posted on 11/20/2008 6:21:05 PM PST by hinckley buzzard
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To: george76

Just remember, Zimbabwe is the model the left aspires to imitate. That is Obama’s dream, to be the Mugabe of North America.


31 posted on 11/20/2008 9:07:27 PM PST by Cacique (quos Deus vult perdere, prius dementat ( Islamia Delenda Est ))
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