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Zimbabwe Runs out of Cash

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Anmeldungsdatum: 21.02.2006
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BeitragVerfasst am: Fr Jul 18, 2008 4:16 pm    Titel: Zimbabwe Runs out of Cash Antworten mit Zitat

by Ian Mosley

African dictator Robert Mugabe

The only thing worse for the economy of an African nation than printing money like mad, is not printing money like mad.

According to a Los Angeles Times article “It has come to this: Zimbabwe is about to run out of the paper to print money on. Fidelity Printers & Refiners, the state-owned company that tirelessly churns out bank notes for the Robert Mugabe regime, was thrown into a crisis early this month after a German company stopped supplying bank note paper because of concerns over Zimbabwe’s recent violent presidential election, widely seen as fraudulent by international observers… The printing operation drastically slowed. Two-thirds of the 1,000-strong workforce was ordered to go on leave, and two of the three money-printing shifts were canceled. The result on the streets was an immediate cash crunch. ‘If you think this currency shortage is bad, wait two weeks. By then it will be a disaster,’ said a senior Fidelity staffer, who spoke to The Times on condition of anonymity because he would face dismissal and possible violence for talking to a Western journalist. The paper will run out in two weeks, he said.”

The current state of Zimbabwe is similar to that of Weimar Germany –if it never pulled out of the Great Depression. Weimar Germany’s economy collapsed thanks to horrible mismanagement by a corrupt two party system, and the crushing burden of having to pay an incredible sum in reparations for the First World War thanks to the grossly unjust Versailles Treaty. In contrast Zimbabwe started out with a healthy economy, thanks to the preceding white government, and it could have continued to feed itself and surrounding African nations if only the Marxist dictator, Robert Mugabe did not blame all his problems on the white farmers, who became targets of violent assault by Mugabe’s thugs.

The Times article notes “Fidelity Printers is Mugabe’s lifeline. It prints the money to pay the police, soldiers and intelligence organs that keep the regime in power. Lately, the money has been used to set up a network of command bases around the country staffed by liberation war veterans and youth militias, hired muscle to terrify the population into voting for Mugabe in the June 27 presidential runoff election. If the regime can’t pay the security forces on which it relies, it would face economic paralysis — and potential collapse… Zimbabwe’s economic meltdown harks back to the collapse of its major export industry, commercial farming, after Mugabe’s controversial land reform program early in the decade. That left the nation starved of foreign exchange, but government spending went on. How did it do that? It printed money. But printing more and more money without an increase in productivity fueled rampant hyperinflation. As hyperinflation spiraled last year, Fidelity printed million-dollar notes, then 5-million, 10-million, 25-million, 50-million. This year, it has been forced to print 100-million, 250-million and 500-million notes in rapid succession, all now practically worthless. The highest denomination is now 50 billion Zimbabwean dollars (worth a U.S. dollar on the street).”

I’m not quite sure how things could be more collapsed in Zimbabwe, but we may find out. Of course, when the country was called Rhodesia and ruled by white people, none of this happened. You would think that by now, everybody -including blacks- would have learned what happens when you simply fire up the printing presses and start printing money like crazy. But apparently not, and it’s not just African blacks who haven’t learned. Our own Jewish Federal Reserve is now doing the same thing in order to bail out Wall Street and the Jewish banks and mortgage lenders that are collapsing. Imagine what life will be like in the US when we combine economic control by Jewish banks and the Federal Reserve with a black socialist of our own in the Oval Office!!
“Wenn ein Volk seit 3000 Jahren verfolgt und geächtet wird, dann muss dass wohl irgend einen Grund haben”.
Henry Kissinger
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