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calendar   Wednesday - July 30, 2008

That Didn’t Last Even 10 Days

Mugabe can’t even afford the zeroes



Zimbabwe devalues currency 10,000,000,000 to 1




Zimbabwe will drop 10 zeros from its hyper-inflated currency — turning 10 billion dollars into one — the country’s reserve bank said Wednesday. President Robert Mugabe threatened a state of emergency if businesses profiteer from the country’s economic and political unraveling.

Threatening a state of emergency? Gosh, what do you call the current state of affairs there?

Shop shelves are empty and there are chronic shortages of everything including medication, food, fuel, power and water. Eighty percent of the work force is unemployed and many who do have jobs don’t earn enough to pay for bus fare.

One third of Zimbabweans have become economic and political refugees. Another third is dependent on foreign food aid. But Mugabe barred non-governmental organizations from handing out food last month, claiming they were supporting the opposition.

Yes, much better to let the entire population starve to death than to allow your political opponents any succor. My guess is that about 95% of the populace now counts as the opposition.

On Wednesday, central bank governor Gideon Gono announced he was dropping 10 zeros from the currency, effective Friday. That comes a week after he introduced a 100 billion-dollar note which was not enough to buy a loaf of bread.

Mugabe went on television immediately after Gono’s announcement to warn against illegal money dealings and profiteering.

“Entrepreneurs across the board: Don’t drive us further,” he warned. “If you drive us even more we will impose emergency measures.”

That’s right, it’s the evil businessmen, the capitalists, who are causing the rampant inflation. That’s so obvious: if nobody bought or sold anything, then the money wouldn’t devalue and there wouldn’t be any inflation!

Gono said new money would be launched Friday with 500-dollar bills. He also said he was reintroducing coins, which have been obsolete for years. Gono said the high rate of inflation was hampering the country’s computer systems. Inflation is officially running at 2.2 million percent in Zimbabwe but independent economists say it’s closer to 12.5 million percent. Computers, electronic calculators and automated teller machines at Zimbabwe’s banks cannot handle basic transactions in billions and trillions of dollars.

It is to laugh! Their worthless cash has so many zeroes on it that it’s causing bit overflow on the computers. Wait, they have computers? How the heck can they afford them? At this point I figured they’d be adding everything up with an abacus, or with piles of rocks!

And now, the obligatory victim card:

Mugabe has blamed profiteering and sanctions by the United States and the European Union for Zimbabwe’s economic collapse. Critics have blamed mismanagement by Mugabe’s government and a land reform program that has slashed Zimbabwe’s agricultural output.  Both Mugabe and Gono are targeted by the sanctions, which impose travel bans and asset freezes on more than 170 people, companies and farms.

“The country is under illegal sanctions. These are intended to achieve regime change,” Mugabe charged. “We must strengthen our will and resistance so we can go through this time of difficulty.”

Strengthen it all you want you thieving marxist cannibal. You and your whole outhouse of a country are going down the tubes. Good riddance to bad rubbish. Pity you just couldn’t survive without the white people in charge. Oh well.


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Posted by Drew458   United States  on 07/30/2008 at 10:30 AM   
Filed Under: • AfricaTyrants and Dictators •  
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