Saturday, 7 May 2016

After Zanu PF's phony war regime gets rude welcome back to reality with bond notes fiasco!

Let me say from the onset, I am really pleased that Zanu PF’s phony factional wars are now over and the regime can finally focus its attention on the nation’s BIG ISSUE – the worsening economic meltdown.
Ever since Grace Mugabe bust on the political stage in July 2014 with her shrill “Ndinonzi Mafira kureva!” (I am called (Mafira kureva) One who speaks the truth even to the death!) until now when she was finally silenced the regime has been totally preoccupied with her and what she had to say. All she has done was accused first Joice Mujuru and then Mnangagwa of all manner of crime some true others wild and fictitious just to elbow the two out of the way so she could succeed her husband as next president. She managed to “baby dump” Mujuru but failed to do the same with Mnangagwa.
When Mnangagwa’s supporters told Robert Mugabe last month that the war vets and those in the security sectors, whom Grace Mugabe’s G40 factions had been abusing, were the “stockholders of Zanu PF and Zimbabwe” whilst he, Robert Mugabe, was a “stakeholder who comes and goes”; Mugabe knew the game was over. The G40 faction had lost, there will be no more meet the people rallies and shrill voice of Mafira kureva will be head no more!
But before VP Mnangagwa has had time to savour his victory over Mafira kureva and her G40 faction he was reminded that there is an even bigger foe for him to defeat if he is ever to be president – the economy. The country is facing a serious cash crunch – just one of the many manifestations of the country’s economic meltdown.- and immediately it was clear that the regime has no answer.
The regime’s proposal to introduce bond notes (over the bond coins introduced supposedly to easy the shortage of small change) is kicking the tin can down the road – a cul-de-sac in this case – it will solve nothing.  
The cash crunch is because Zimbabwe has become a supermarket nation, importing everything it consumes whilst exporting very little itself. There is bound to be a cash shortage because we have a lot more cash flowing out of the country than is flowing back in; that is not rocket science.
The introduction of these bond notes will easy the cash shortage for local transactions but put the squeeze on foreign ones as the drain in foreign currency will continues to the extend import costs exceed export receipts. It will not be long before the black market trade opens buying foreign currency with the bond notes triggering the fall in value to the latter.
Yes the regime has reintroduced the Z$ by the back door and called it bond notes. The banks will convert the foreign currency denominated accounts to bond notes at the official exchange rate but refuse to sell foreign currency at the same official rate (except to the lucky few). The days of Zimbabwe’s runaway inflation are back!
The RBZ governor’s instruction for all export payments to be 40% in Rand 10% in Euros and the balance in US$ if fiddling whilst Rome burns because the net worth of the cash received for exports. As long as cash to pay for imports continue to exceed the cash received for exports, breaking that cash into many others currency will change nothing, the cash crunch for foreign transactions will continue.
I am so, so pleased that the Zanu PF’s phony factional wars are over and the regime can finally grappling with the real big issue - the economic meltdown – after nearly two years on French leave listening to Mafira kureva. Here is a regime known for vote rigging, wanton violence, looting and all the other dirty tricks to cheat its political opponents and the nation at large to stay in power. For VP Mnangagwa to have an chance to become president, Zanu PF must now threaten, beat or even murder the root causes of economic meltdown and deliver economic recovery.
If the regime’s handling of the cash crunch is anything to go by then my fellow Zimbabweans Zanu PF has finally met more that the regime’s match in the economy! Zanu PF cannot bribe or cheat its way out of the serious economic meltdown the nation is facing.
Unemployment rate now a nauseating 90% plus; millions living in abject poverty; the proposed bond notes have already triggered a run on the banks as many people are determined to take out as much of their cash as possible before it is converter to worthless bond notes; etc. There is no doubt that the present economic situations already intolerable and yet as long as the regime stays in power things are set to get even worse.
To end Zimbabwe’s economic meltdown the nation must first end the political system that spawned it the de facto Zanu PF one-party dictatorship that has allowed mismanagement, corruption and lawlessness to grow and spread like cancerous tumours.
Zanu PF has cheated and rigged elections to avoid regime change but the serious economic meltdown will force regime change because it cannot be bribed, cheated or murdered!

It is the economy stupid! 


Zimbabwe Light said...

Zanu PF top spin doctor Professor Jonathan Moyo has claimed that opposition Zimbabwe Peo-ple First leader Joice Mujuru dashed to Dubai on Friday evening to source funding.

- See more at:

Dubai has been buying Zimbabwe's diamonds for a song giving the litany of looting and plundering that has been going on in this industry. Is Mai Mujuru in Dubai to get some of her corrupt contacts there to bankroll her ZimPF with a view of granting them even more lucrative deals in future?

Mai Mujuru is corrupt and she owes the nation a detailed explanation of how she and her late husband accumulated their huge fortune. It would be an outrage if she should use her ill-got wealth to finance the establishment of her own corrupt and tyrannical political party.

We are fighting to end the corrupt and tyrannical Zanu PF system and not merely for the change of name from Zanu PF to ZimPF.

Zimbabwe Light said...

You are NOT fighting to free yourself you nincompoop. How does electing an incompetent and corrupt individual like Tsvangirai who then sells-out to the tyrant help free the nation? How does continued support of the same corrupt, incompetent and sell-out help free the nation.

The task of drumming the truth about failed leaders like Tsvangirai into thick headed nincompoops like you Mudhara is tough work. This nation will never ever get out of this hell-hole as long as we have voters like you who will not think. I am determined to get this nation out of this mess and if that means kick the backsides of nincompoops like you until you open your eyes then so be it!

So if there is no alternative leader is that your excuse for following a corrupt and incompetent one who has just sold-out the nation for a $4 million Highlands mansion? How any human being can be so shockingly stupid is the great mystery here!

Zimbabwe Light said...

The bond notes will help ease the cash crunch for local transactions but in a supermarket country where imports outweigh exports and the bond notes are legal tender for local transactions only the pressure on the bond notes to devalue will be immediate. Everyone with any brain will be queuing to withdraw all their cash from the foreign currency denominated accounts before it is converted to a bond notes denominated account.
For a long time many people have accepted the Zanu PF ethos that we can change everything we like in the country as long as we do no change Mugabe and his Zanu PF cronies. We have suffered under this no-regime-change mantra for decades. We have watched with dismay as the country’s once prosperous economy has gone to the dogs unable to do anything to stop it because to have any meaningful economic reform we needed meaningful political change, regime change.
“Marco Rubio, one of the failed candidates in the most recent Republican primary election in the USA, made a remarkable statement about failing policies,” you said.
“We must change the policies by changing the people who make those policies!” In short, change the President. Change Parliament. Change the Governor of the Reserve Bank. Simple. Otherwise, billions, trillions….” You have hit the nail on the head there.
No-regime-change was nonsense, an oxymoron, given Mugabe still claimed after each election that the election was “free, fair and credible”. Zimbabweans must demand the implementation of all the democratic reforms necessary for ensuring the next elections are indeed free, fair and credible.
The only way out of Zimbabwe’s present economic mess is holding credible free and fair elections!

Zimbabwe Light said...

The trouble with a moron like you Manheru is you distort the truth to the point where the read throws everything as rubbish. Take for example you point about the health standards of the African child and that of a white child.

"Such a career (Coltart's father's banking career) made Coltart a child born biting a golden spoon," you say.

True the lives of blacks were very tough in white ruled Rhodesia but if you want people to take you serious you must also admit that the regime for which you have written volumes to praise has made a complete fvck up. The health facilities for blacks 60 years ago improved steady until 1980 when Mugabe, your great leader, took over. Minister Parerinyatwa condemn Chiredzi General Hospital's one room maternity ward as "unsafe". The ward was built by the white in 1967 and has never been improved ever since.

Mugabe's daughter flew to the Far East to give birth to Mugabe's grandson. The health service that baby was born under compared to those at Chiredza General Hospital would mean it had a truckload of golden spoon to bit! And yet you have devoted the whole article to Coltart's one spoon and said nothing about one with a truckload of spoons!

Manheru you are just a paid apologist with no sense of duty to others even your own flesh and blood. Even the worst white racist never treated his or her fellow white the way Mugabe has treated blacks and idiots like you have cheered him all the way!

Shame, shame, shame on you Manheru and all your fellow apologists and sycophants! You and your descendants must be cursed and remain cursed for all time!