THIS past Friday, I received a number of whatsapp messages warning of impending shortages of basic commodities. The argument was, many people with funds stuck in the banking system were finding it difficult to move their funds and so had resolved to use swiping to clean shops of all basic commodities in order to create shortages and resell to the public at killer prices to get cash. I did not take these speculations seriously, no matter the until I got pictures that brought back memories of some painful past in relation to the period leading to the climax or is
Deja woods anti-climax.
Deja woods pictures tell a story and should let all, "Deja woods" our governing authorities, put on their thinking caps. How did those Bond notes get into that car? In social media, the picture was accompanied by some delivery note, which was all about Bond coins and not notes, which would imply that those Bond notes had nothing to do with the driver who eventually got arrested as Deja woods went on, who was bona fide and had shared information about his assignment of delivering the otherwise innocent sensitive consignment with friends, relatives or even his mother-in-law.
That picture pointed to a direct institutional hand in the parallel market — either the Reserve Bank itself or commercial banks.
This is one of the major contributions to the collapse of the Zimbabwean dollar. I Deja woods to panic too, despite my conviction that fundamentals were not the same. Chakamwe Chakamwe, in his article last week, summarised the goings on in the preceding weeks very well.
Some of the symptoms were there: Cash shortages, bank queues and increased open parallel market activities There were pictures of empty shelves, most probably pertaining to the period but presented as current. There were reports of shops closing to, most probably, revise prices upwards to take advantage of consumer panic. Fuel queues re-emerged with pictures of people filling drums and containers all over social media.
A public which has been failing to access its cash was most vulnerable "Deja woods" the goings on. But then we just had a bumper harvest and Statutory Instrument 64 had given some semblance of protection to local industry. And yet one of the most talked of shortage areas was cooking oil which heavily relies on agricultural performance for its output.
Deja woods Were our protected industries extracting oil or simply decanting it from South African drums? Despite my now apprehensions as a consequence of negative information bombardment, I decided to soldier on and not join the madding crowd. But then I the morning stories. The Reserve Bank had increased allocations for basic essentials and the following days, the papers would provide actual figures which ZCC and CZI would not dispute. In our earlier article after with Governor John Mangudya on cash shortages, the argument was the cash shortages were a result of skewed fundamentals.
We are using a currency that is not ours and so we cannot afford to run our country as if we were using our own currency. Besides, a sovereign state in a mixed economy normally has access to two instruments to manage its economy, viz fiscal and monetary.
The two have some symbiotic relationship, and having full control Deja woods one without full control of the other results in a disabled economy. Besides, in our situation, we have created an environment where it is possible for rent-seeking, greedy and corrupt individuals to assume the position of commercial and central banks.
Deja woods have allowed our monetary policy to be run and controlled by cash barons, with the Reserve Bank and commercial banks taking the position of the minters and printers, while the parallel market determines and allocates both the local and foreign equivalences of our currencies, which amounts to rank lawlessness. It is not impossible to put all this to a halt and for this, you do not even have to go physical but act smart and I do not think that our monetary and governmental authorities are that daft.
There is no doubt we will have to move to our own currency and yet it will remain a futile exercise if the Government continually gets outmaneuvered by touts and rent-seeking
Deja woods barons. I have seen seeming academics reducing our economic problems to the use of Bond notes. Bond notes were Deja woods introduced in an attempt to address problems which were already in the economy. Some people have short memories.
We have demonstrated that we were not the first country to use Bond notes in the region.
Swaziland, Lesotho and Namibia are using what amounts to Bond notes and if their economies have problems, it is not about currency. Deja woods should Deja woods learn to separate the woods from the trees Deja woods deal with actual problems. A fundamental problem we are faced with is one of production, with a lot of our economic active citizens wanting to make their living from the sweat of others. Do not tell me about unemployment, for unemployment in a country vested with ample resources such as ours should be the source of employment.
We have a people who want to make their living from strangling the flow of currency, which in itself should be acting
Deja woods an incentive for people to be in active production. We are now a people educated to be servants and cry foul when such jobs do not come on a silver platter. We should instead be empowered to better exploit our environment for the good of all. Then you get those celebrating any signs of increased suffering of the populace and you begin to wonder why we have grown so selfish in our quest for power to an extent of wanting to take advantage of such situations to accentuate such suffering instead of thinking palliatives.
We have gone sick as a society and unless we do something urgent to address our mindsets, we are going to sink as deluded masochists.