“Cash rules everything around me
CREAM, get the money
Dollar dollar bill, y’all” – Method Man on Wu Tang Clan’s – ‘C.R.E.A.M’ (1994)
I don’t know and I cannot count how many currency and monetary reforms that been since the launch of the New Dispensation from the Mnangagwa Government. What I do know? There’s been plenty and countless of initiatives in concern with the currency. Which was made to stabilize and supposed to ensure a steady rate in the inflation. However, that ship has sailed, as the rates are over double-digit and its not getting better.
The Zimbabwe government has stopped and reopened opportunities to have foreign currencies in trading. Today is not different. Just like a year ago in June they ceased to trade with United States Dollars. Today they are returning through bank action and able to show prices in Zimbabwe Dollars and US Dollars in the shops.
The return of this imminent. As the value of the Zimbabwe Dollars are depleting, the inflation is out whack. The money is getting devalued and destroyed. The state knows, the Reserve Bank knows this and the people know it too. This is not new, but the normal mockery of financial stimulus and fiscal responsibility, which causes this damage on a regular.
There is no trust in either the Ministry of Finance nor the Reserve Bank. All institutions are running a shit-show and hoping to trade insults to save their lives. They are all just pinning on duck and hoping it doesn’t quack. It is like an endless circle of Bond-Notes, RTGS-Dollar, Zimbabwe Dollar Notes and unattainable monetary polices in concern with the US Dollars.
In June 2019, the President proclaimed this: “ Except that if you want to transact in any shop, if you want to buy your tea and milk in dollar or euro, then you must go to bureau du change” (Mnangagwa, 25.06.2020).
Now a year later the opportunity to use US Dollars is back and the promise of “normalcy” is a far-cry from reality. As the state, the institutions and the men behind the monetary policies cannot figure out the trick of the trade. They don’t have the ability nor the slightest idea on how to stable the economy nor ensure any trust in the currency they are printing. It is like a gift of misgivings and lack of integrity.
The whole state could fix this, the men behind this could really try to do something. They should first quit their day-jobs, because they are not up for it. These people have tried and tried. Done so much work for nothing. They have been jibber-jabbing for so long without any luck.
So since nothing is working. We can all just put on the old classic Wu Tang Clan joint ‘C.R.E.A.M’ and sing: “Cash Rules Everything Around Me/Cream, get the money/Dollar Dollar Bill, Y’all”. Peace.