MinBane

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Archive for the tag “Bond Notes”

Zimbabwe: Terrifying high inflation rate!

Prof. Mthuli Ncube needs to really show the new dispensation and prove that the RTGS Dollar and Bond-Notes put together into the Zimbabwe Dollar really will save the economy. Because, the state is clearly failing on putting trust in the economy. The financial markets clearly has lack of trust or not feeling it. The Zimbabwe African National Union – Patriotic Front (ZANU-PF), the second republic has to prove now, that they can fix what the Mugabe regime couldn’t fix in 2008.

Now, the Ministry of Finance, the Professor and Minister has to prove himself. That he can fix this, before the hyper-inflation hits the fan. Since, there is an giant issue. The inflation is already getting out of hand.

On the 15th April 2019, the inflation rate was at 66,8%. By the 15th May 2019 it had already become 75,86%, it continued to spiral and by 17th June it was at 97,85%. That all seems bad enough, as the progression and estimates has been broken every month. Now today on the 15th July 2019, it has hit 175,66%. That means since April the rate has nearly tripled and is now at the level of triple digit.

The prices must really skyrocket, the salaries will not be able to follow these sort of numbers. The state cannot manage to finance the state nor get the civil servants paid enough. Now we can anticipate the fuel, gas and electricity prices to go up. It got too, because, the economy is crashing. When the inflation get to this, you know something is up. The state is now getting the inflation at a ten-year high. They are surely trying to get back into the 2008 mojo.

Mthuli Ncube really have to start doing some miracles, some sort of divine god-like acts that turns water into wine. He needs to dig deep into the shelters of misbelief and find redemption. Because right now, the bridges are burning and the state needs.

Just to tell how bad it is, the estimates in the coming months is already at 200% in August and by mid-September to get to 251%. If these are true, than we know the drill. The lack of foreign exchange, prices out of control and state reserves emptied. The need for IMF, World Bank and Chinese Exim Bank to save the day. To stabilize the economy and revamp the economy.

The ZANU-PF clearly doesn’t know how to build trust or fix this. Since, they are doing the same thing all over and they have not launched the new currency yet. This shows how dire and destroyed the economy is. Peace.

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Opinion: RTGS Dollars are Bond-Notes on steroids!

Today on the 20th February, the Governor John Mangudya of Zimbabwe Reserve Bank have launched a new currency in the Republic. This is the second time within the amount of three years, that the Zimbabwe African National Union – Patriotic Front (ZANU-PF) have launched a currency.

Because on the 26 November 2016, the same authorities launched the Bond-Notes. As that currency been struggling ever since. As the promise of 1:1 Forex Exchange between the Bond-Notes and US. Dollars. However, that haven’t been the issue, as the Bond-Notes been weaker than that. Significantly weaker, but the authorities have played around like it has the same value.

The RBZ have launched the RTGS Dollars, which are fully named Real-Time Gross Settlement Dollars. In all means of the name is real long name for a currency. Even the RTGS Dollars sounds like insignificant transaction. Because, the RTGS is like a crypto currency, a digital one, where the amount of RTGS Balances + Bond-Notes = RTGS Dollars.

Therefore, the RTGS is based on the liquidity of RTGS Balances, which means the Mobile Money Transactions plus the Bond-Notes. That is showing the lack of value in the currency before even starting.

What is showing the nightmare of the whole Bond-Notes of 2016 is relaunched today in 2018. It is just repacked and they hope this will maintain stability of the exchange rate. However, it is now the whole multi-currency system in a boiling pot and they hope it becomes a tasty stew, by blending in a new feature. Which seemingly is built on a transactions system, instead of a assets and liquidity built into a stable financial market. As the currency is supposed to be trusted and be a state instrument for transactions. Instead, here it is built on shaky grounds and just awaiting to sink.

The governor of the bank has in 2017 called the economy an albatross. Certainly with the RTGS Dollars, that is not changing. As the unfortunate ideas continues arising and they think these will solve the lack of foreign exchange and the lack of input into the system. However, they are not thinking straight and unlocking new scary scenarios. As they are now trying to shield the Bond-Notes, get them into the digital transactions of the RTGS Dollars, which would hopefully get more funds into the system. It might infuse more funds, as these are returning and become taxed by the RTGS taxes. That is surely securing the values and lack of trust in the Bond-Notes, which now will be transferred to the RTGS combined with the RTGS Dollars. That later can be changed again into the US Dollars. That shows the weakness of the whole system. Just like it was with the Bond-Notes alone.

The RTGS Dollars will be devastating as the launch of Bond-Notes. This is just another storm in a glass. Now, the state and republic can just await another hurdle. The RTGS Dollars will be as hectic or maybe even more than Bond-Notes. Even if people are familiar, the reality is that US Dollars have been the saving grace and even civil servants wanted their salaries paid in that.

Therefore, the current future is the new digital currency, the RTGS Dollars will be a rocky road. How it will be? Who knows? But the launch of Bond-Notes was a mess, this will surely be no different… Peace.

Opinion: I want to wish Chamisa all well, but worried still!

Well, I wasn’t born yesterday and the Zimbabwe African National Union – Patriotic Front (ZANU-PF) with the new President and former Vice-President Emmerson Mnangagwa, will not give-up easy. The state and the regime will not give-in and give away power. No matter who it is and now that finally the 75 year old man taste power directly, he will not delegate it. As he got it through the support and need for the military in Zimbabwe.

The systemic problems are still there, the issues are still there. Some freedoms and liberties has arrived, but so many unanswered questions are there. The ZANU-PF grip of all power and institutions give little leeway for someone else grabbing them. The cronyism and the military involvement in politics, will surely secure the elections in the favor of the ruling regime. There is little to show that this will suddenly change.

Because, even if the people and army got rid of Mugabe in November 2017, the same machinery, his henchmen and his waterboys are still walking about doing their thing. Parts of his loyalists in the G-40 has formed their own political party the National (New?) Patriotic Movement (NPM), but they we’re be a bag of donuts and just mere ploy in the scheme of things. There are previous deflectors of ZANU-PF that has massed much ado about nothing. So we can anticipate the same, even with the support and standing by both Grace and Robert. They still cannot fight the beast they have created.

It is in this vain I am worried about Movement for Democratic Change (MDC) Alliance, Presidential Candidate Nelson Chamisa. The youngster and long-term politician who has taken over the biggest opposition party, that gotten a huge following because of the hard work of Morgan Tsvangirai and others, who has fought the dictatorship of Mugabe.

There are something that has to change and right now I don’t see it. Not because I want the ZANU-PF to continue with their business as usual. Misusing funds, spending on cronies and buying off loyalty, while needing the pledges and tokens of trust from the army. That is not how to make it better. Chamisa might have the organization and the support, he might be able to gain the popularity of the people. However, that hasn’t mattered for Tsvangirai, because he was rigged away from power if not only once, but at least twice.

I don’t wish that for Chamisa and the MDC Alliance. No, I don’t want that, it would be fresh air with someone else, than cronies and the kingpins of the ruling party. There is a need for something else. It is a need for a free and fair elections, with a transition and actual change power. Not the use of the military or use of rigging.

Chamisa deserves a free and fair election, then there would be chance for the MDC flagbearer. However, with the things set in motion and the state of affairs. I have doubts. Not because of Chamisa work capacity, because of his message or even his age. No, I have doubt, because the ZANU-PF are preparing for procedure as usual. To make sure the Mnangagwa presidency continues in full steam at all cost. Nothing will topple that. Peace.

Opinion: The Goblin’s family finally slapped by the state!

Since the November 2017 Coup in Harare, the Zimbabwe African National Union – Patriotic Front (ZANU-PF) has been friendly to the former President Robert Mugabe and his extended family. The ZANU-PF have let the family eat plenty have a giant package of money and also a big pension for the 37 year long presidency. Today, it is released a document telling, that the state is finally taking action against the family and their possession.

On the 16th March 2018 in the High Court of Harare, where Judge President Justice Chiweshe ordered eviction of Russel Goreraza, Grace Mugabe and Kennedy Fero. These three has lost in court, where they are now evicted from the properties of 409 Harare Drive, Pamona, Harare; 18 Cambridge Drive, Avondale, Harare; 75 King George, Avondale, Harare. All of these properties will go back to companies that owns the properties, since the Mugabe family has been squatting here.

This here is proof that the time has changed, this would never has happen in 2017, but it is in 2018. It might a proof that the President Emmerson Mnangagwa wants to show strength too, because of the blessings of National Patriotic Front and the support of the G-40 Members to the new party, before the up-coming elections. Therefore, the ruling regime want to show the former first family, that they are not untouchable anymore.

This here is vital if people been evicted or alleged crimes by the former first family, the can now petition the courts and get refunded for their hurt, even get their land and properties back. Who knows what more businesses, farms and other frauds the Mugabe family has done and could also lose if people petitioned it. When the state has been run by the family and cronies, they can now get it back and also see justice in these matters.

It is at least hope and proof that the Mugabe family is not untouchable, they can actually lose a court case and the petitioners has a chance. Last year, the courts would have dismissed or not given it merit even. Because Mugabe family good whatever they wanted and got away with it. Now the table has turned.

Mugabe family has been evicted from three properties, that is historic and a proof that time has changed. It is also a sign that the ZANU-PF plans to answer if the former President continues to cry havoc in the press. They will answer, because they will not show mercy, if the Mugabe creates drama. Peace.

Zimbabwe: Statement on Former President Mugabe (16.03.2018)

Opinion: Mugabe shouldn’t cry foul, he should enjoy his retirement!

Mugabe bitter at Mnangagwa’s “betrayal”. “On my side, I always had Mnangagwa. I brought (Mnangagwa) into govt. I never thought he whom I had nurtured, and whose life I had saved in prison when he was threatened with hanging, that one day he’d be the man that turned against me”. Mugabe: “I don’t hate Emmerson. I brought him into Government. But he must be proper. He is illegal.” He says he’s ready to speak to ED to correct things. “We don’t deserve it. Please we don’t deserve it.”. Mugabe offers to negotiate with Mnangagwa. “But I must be invited, properly invited for that discussion”” (Zim Media Review, 15.03.2018).

It is insulting to the people of the Republic of Zimbabwe. Where Robert Mugabe was President for 37 years. Where he run everything and left nothing behind. He touched everything and everyone. His decisions was made in his interests. He made it violent, he rigged himself into power and he used all the tricks in the book to stay in power. Suddenly in November 2017, the Zimbabwe African National Union – Patriotic Front (ZANU-PF) who ousted him with help of the army in coup. That is right, but he didn’t have a birthday to be on the throne until death.

It is rare when someone like him speaks of illegal, that former comrade Mugabe is blaming Mnangagwa, the man who rig himself again and again. The man who tarnished, nearly killed the opposition leader Morgan Tsvangirai, the man who has detained activists, where up to 5,000 MDC activists are still not accounted for by the ZANU-PF government. Even months after the fall of Mugabe, there are enough human rights violations, enough skeletons in the closet to keep him in prison forever if anyone collected evidence and affidavits.

Mugabe should be careful with his mouth, since he is living lavish, he is still having his blue-roof and the family is still getting a hefty pension. That is more than President Canaan Banana. Therefore, sometimes, silence is the best medicine. If Mugabe was wise, he would haven’t said a god damn thing. Clearly, the former professor, has lost his marbles. Since he talks and says things that doesn’t make sense.

It is right that President Mnangagwa haven’t been directly elected, but was helped by the army. Which he has offered positions in the cabinet. Mugabe shouldn’t expect a discussion or invitation to negotiate anything, unless it is to get out of jail free card. I know Zimbabwe isn’t Monopoly, but that card shouldn’t have. His kind which has eaten on the state, used the police and army to oppress people for generations. Kept opposition in prison, if not they have exiled. Clearly, this man after his ousting, should pray to God for the Mercy, ZANU-PF and Mnangagwa showed him. They could have chopped his head-off, but instead they should dignity and mercy on the old man.

Mugabe, do yourself favor, retire with grace, really retire with Grace. Its time do much ado nothing. It’s time for him to be silent, not talk, he has done more than enough. Mugabe has hurt enough people and oppressed enough of them. His tricks is used, his time is spent and he is lucky he isn’t lingering in jail until his final day on earth.

So please, former comrade and liberator, the former dictator and almighty, please shut-up and just be retired. Not complain, because your lucky enough already, your blessed enough already and has still all your things. Other ones in your shoes was taken around town, flogged and then killed. You got off easy, maybe should consider that for a little moment. Peace.

Zimbabwe Election Commission: “Re: Notification of Existence of National Patriotic Front (NPF)” (13.03.2018)

Zimbabwe: Press Statement by the Zanu PF Secretary for Information and Publicity Cde. J.K. Moyo on the Ocassion of the Extraordinary Session of the Politiburo (14.03.2018)

Zimbabwe: NPF – “Unconstitutional Attacks on President Robert Mugabe Must Stop” (13.03.2018)

The Zanu-PF is ready to pump up the image of the Mnangagwa Family: The First person is the First Lady!

The Zimbabwean state media is preparing to celebrate the First Lady Auxilla Mnangagwa, in the same fashion as it did with Grace Mugabe. The Zimbabwe African National Union – Patriotic Front (ZANU-PF), is working on the same sort of actions as it did in the 37 years under Robert Mugabe. The difference now is that the leaders is Emmerson Mnangagwa, the husband of Auxilla. That is why this is important, since the watershed moment of the bloodless coup in November 2017. The ruling regime is planning similar acts as it did before.

Now on the 8th March 2018, Advertising Media Association (ADMA) sent a letter out, where they are planning a “First Lady Cde Auxilla Mnangagwa Birthday Celebration Supplement” that is coming out on the 25th March 2018. This is making a supplement to Sunday Mail and Sunday News. If it is for them or for the Herald, The Chronicle, Kwayedza, Umthunywa, H. Metro, Business Weekly, B Metro and Southern Times. All of these will have something that is celebrating Auxilla.

If you see now, the state and media houses connected are starting to celebrate and use the Mnangagwa family, in the same significance as it did to Mugabe. This should be found worrying, since it creates the control of the family and their leadership. To deliver Congratulatory Messages, also explain why they are creating the same narrative as they did with the first family of Mugabe. Like in 2017, the Zimbabwe Media spread the news of the “loving mother” on Grace’s birthday, that was on 23rd July 2017. Then one of the papers dropped a 12 page supplement.

Therefore, the lines between Mnangagwa and Mugabe is stopping, the changes are just the name on the ballot-box. The rest is more of the same, as the papers are preparing for praise, to get the State Owned Enterprises and Government institutions to praise the new First Lady. Just alike the ones coming last year in July. Now it might something alike on the 25th March, a supplementary piece in honor of Auxilla.

So, if you believe the Lacoste, the Zanu-PF really changed it didn’t. Just the head. Nothing else, though some more military men in the positions and the military has more power. Not like that is good, but that is the reality.

Now they are preparing to build the legacy, the fancy narratives and the image of the glorious first family and their adventures. It is really gearing up. Now with the birthday of the First Lady. They are really making her image triumphant, make the first family living legends. Such, as they built everything around the Mugabe’s family at their time of reign. Peace.

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