Opinion / Columnist
Mugabe regime in final looting spree?
21 Aug 2016 at 16:32hrs | Views
It looks like the Mugabe regime is preparing for a final looting spree to mop up the dollars remaining in the economy. Despite earlier denials the Reserve Bank Governor, John Mangudya, has now admitted that the bond notes piling up at the bank will be used to pay wages.
The bond notes are expected to hit the streets in October when we will see the truth of the old adage 'bad money drives out good', leading once again to massive inflation and economic chaos.
It will be a windfall for the Mugabe cronies. But they should note the experience of the last Reserve Bank governor, Gideon Gono, who presided over the money-printing orgy until the Zim dollar became worthless. His Greystone Park house is to be auctioned on Friday over the non-payment of a $1.3 million debt.
Whether Mugabe himself really knows what is happening is doubtful. His physical condition is now so poor he has had to pull out of a trip to Ghana where he was to receive a Lifetime Africa Achievement Award – testament only to the ignorance of those who awarded it.
Probably Mugabe still believes in the fantasy world of the Herald, which said this week Zimbabwe is poised for an economic take-off – reminiscent of the Zambian space ship of a few years ago which ended up in the branches of the nearest tree.
The regime faces its biggest challenge so far if a massive protest in Harare planned by the combined opposition parties goes ahead on Friday. The riot police showed on Wednesday that they mean business when a demonstration in Harare against the introduction of bond notes ended with blood on the streets.
Pastor Evan Mawarire of #ThisFlag movement saw the brutal face of the regime himself and fled the country. He said he had been warned to leave or be killed. His wife had been threatened with rape and its clear his children were also in danger.
Mawarire supporter, the prominent businessman and publisher Trevor Ncube says he also fears for his life after mysterious visits to his Harare home by suspected members of military intelligence.
The bond notes are expected to hit the streets in October when we will see the truth of the old adage 'bad money drives out good', leading once again to massive inflation and economic chaos.
It will be a windfall for the Mugabe cronies. But they should note the experience of the last Reserve Bank governor, Gideon Gono, who presided over the money-printing orgy until the Zim dollar became worthless. His Greystone Park house is to be auctioned on Friday over the non-payment of a $1.3 million debt.
Whether Mugabe himself really knows what is happening is doubtful. His physical condition is now so poor he has had to pull out of a trip to Ghana where he was to receive a Lifetime Africa Achievement Award – testament only to the ignorance of those who awarded it.
The regime faces its biggest challenge so far if a massive protest in Harare planned by the combined opposition parties goes ahead on Friday. The riot police showed on Wednesday that they mean business when a demonstration in Harare against the introduction of bond notes ended with blood on the streets.
Pastor Evan Mawarire of #ThisFlag movement saw the brutal face of the regime himself and fled the country. He said he had been warned to leave or be killed. His wife had been threatened with rape and its clear his children were also in danger.
Mawarire supporter, the prominent businessman and publisher Trevor Ncube says he also fears for his life after mysterious visits to his Harare home by suspected members of military intelligence.
Source - Zimbabwe Vigil
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