New Zimbabwe dollar the worst performing currency in the world

[Vrotappel]

Folks, gloating at our neighbours bad fortune does nothing for SA. Just means we will have more people flooding our borders and creating heightened tensions within SA.

Like there is anything that can actually be done?

South Africa is on the same road btw.

 

[pinball wizard]

So if people don't gloat we won't have people flooding our boarders?

Someone should alert Trump he doesn't need a wall

I think Trump's middle name is Gloat though...

 

[SoldierMan]

Wakanda will sort this out, they have said that they are planning to help other countries from now on. One of the few decent African countries left. Viva Wakanda viva!

 

[Tokolotshe]

Like there is anything that can actually be done?

South Africa is on the same road btw.

Now that brings back memories ...

JM & Co is unhappy with our national anthem.

 

[Acid0]

We are always saying "At least they have land..." but do they really do.

Do everyone have a deed of the piece of land he resides on or are they mostly nomads.

It is exactly what happens here, the government throws the same stats that whites own most land but what they are not saying is that when they buy the land from a farmer they dont transfer it to the people no they keep the deed in the governments name thus it will always look like whites own the land as the stats never change

 

[VooDooC]

But Thabo said Bob was a hero and had done wonders....

Yeah he did do wonders, he wonderfully f***** up the country single-handedly faster than any other African Dictator

 

[rietrot]

We are always saying "At least they have land..." but do they really do.

Do everyone have a deed of the piece of land he resides on or are they mostly nomads.

It is exactly what happens here, the government throws the same stats that whites own most land but what they are not saying is that when they buy the land from a farmer they dont transfer it to the people no they keep the deed in the governments name thus it will always look like whites own the land as the stats never change

Half wrong. If the government buys land it will register in their name, the government department, or some trust or something. Government land doesn't appear as white land.

But ja. The people won't get any of it.

 

[Deadmanza]

Well done! Not to worry the ANC will soon drag SA down right alongside these poor unfortunates.

 

[Acid0]

Half wrong. If the government buys land it will register in their name, the government department, or some trust or something. Government land doesn't appear as white land.

But ja. The people won't get any of it.

That is my point exactly, when government buys the land it does not get transferred to the new owners but is still in the ownership of government and that does not get used as stats to show who owns land so for long whites will own more land according to the stats.

 

[Mila]

white racist media

 

[santaman202]

white racist media

XD

 

[Mike Hoxbig]

Well they are following the textbook example of how to get hyperinflation each time.

I thought the Zimbos are smarter than this.

The smart ones are in SA...

 

[Utterly Confused]

why don't they go to some countries and start trading their minerals, land etc for PROPER currency. Adopt the currency and make strategic global export partnerships to drive the GDP up so the country's reserve bank can have proper liquidity. Then focus on jobs by getting foreign companies to open up shop in the country and create work opportunities.

It will take time but its doable in the next 10 years.

One problem, that's not the African way.

 

[grok]

But Thabo said Bob was a hero and had done wonders....

Birds of a feather, except Mugabe is an amateur in snuffing own citizens compared to Thabo's aids denialism death toll..

 

[Mila]

Where is the dude that kwpt telling us it was white propaganda and everything is fine in Zim

 

[BBSA]

Where is the dude that kwpt telling us it was white propaganda and everything is fine in Zim

@8....3....1 ?

 

[Urist]

Well they are following the textbook example of how to get hyperinflation each time.

I thought the Zimbos are smarter than this.

Venezueleans are smart as well, but it means nothing against an AK47

 

[Gordon_R]

That is my point exactly, when government buys the land it does not get transferred to the new owners but is still in the ownership of government and that does not get used as stats to show who owns land so for long whites will own more land according to the stats.

But wait, whites will now be able to lease land for 99 years from the Zim government. At least until the rules change again: https://www.fin24.com/Economy/Afric...nd-ownership-in-new-investment-drive-20190918

 

[Gordon_R]

Economy really starting to feel the squeeze: https://www.fin24.com/Companies/Ind...biggest-fuel-supplier-car-dealership-20190920

Zimbabwe’s central bank has frozen bank accounts belonging to the country’s biggest fuel supplier, as well as the largest car dealership, in what is believed to be efforts to stabilise a plunging currency.

Officially, Zimbabwe’s local dollar has lost more than 80% of its value since February - but the black market rates show an even larger decline. Last week, the central bank raised interest rates to 70% in response.

 

[Gordon_R]

Doomed attempt to clamp down on exchange markets: https://www.fin24.com/Economy/Afric...ightens-rules-for-currency-exchanges-20190921

Zimbabwe’s central bank has tightened the rules governing the trade of foreign currency by money exchange offices with immediate effect.

The rates offered by exchange offices must be 7% above or below the interbank mid-rate, the central bank said in an emailed statement. Failure to comply would result in either heavy financial penalties or license revocation, it said.