The act of Finance Act No 2. was gazetted today on the 21st August 2019. What is weird to be is the two following codes or sections, this being the 22 and 23, which is countering each other. I am finding this as financial voodoo with the currencies. As this act is initially making the RTGS Dollar and Zimbabwe Dollars equal. Combined with the enacted value of the RTGS Dollar, the same as the US Dollar. Which by all accounts are impossible, as the exchange rate isn’t that static, neither followed by law. Unless, the state plans to infuse cash-flow and beat the rates between the RTGS Dollar and the US Dollar.
Alas, the madness, continues with the legislation gazetted today. I will show the two parts of the legislation, before addressing it a bit more. Under the sections itself.
“22 Issuance and legal tender of RTGS dollars, savings, transitional matters and validation (1)Subject to section 5, for the purposes of section 44C of the principal Act, the Minister shall be deemed to have prescribed the following with effect from the first effective date—
(a) that the Reserve Bank has, with effect from the first effective date, issued an electronic currency called the RTGS dollar; and
(b) that Real Time Gross Settlement system balances expressed in the United States dollar (other than those referred to in section 44C(2) of the principal Act), immediately before the first effective date, shall from the first effective date be deemed to be opening balances in RTGS dollars at par with the United States dollar; and
(c) that such currency shall be legal tender within Zimbabwe from the first effective date; and
(d) that, for accounting and other purposes (including the discharge of financial or contractual obligations), all assets and liabilities that were, immediately before the first effective date, valued and expressed in United States dollars (other than assets and liabilities referred to in section 44C(2) of the principal Act) shall on the first effective date be deemed to be values in RTGS dollars at a rate of one-to-one to the United States dollar” (Finance (No. 2) ACT, 2019).
“23 Zimbabwe dollar to be the sole currency for legal tender purposes from second effective date
(1) For the avoidance of doubt, but subject to subsection (4), it is declared that with effect from the second effective date, the British pound, United States dollar, South African rand, Botswana pula and any other foreign currency whatsoever are no longer legal tender alongside the Zimbabwe dollar in any transactions in Zimbabwe.
(2) Accordingly, the Zimbabwe dollar shall, with effect from the second effective date, but subject to subsection (4), be the sole legal tender in Zimbabwe in all transactions.
(3) For the avoidance of doubt it is declared that, from the second effective date—
(a) references to the Zimbabwe dollar are coterminous with references to the following and to no other forms of legal tender or currency— (i) the bond notes and coins referred to in section 44B of the principal Act; and (ii) the electronic currency prescribed for the purposes of section 44C of the principal Act, that is to say to the RTGS dollar;
(b) the above mentioned bond notes and RTGS dollars are at par with the Zimbabwe dollar on and after the second effective date, that is to say each bond note unit and each RTGS dollar is equivalent to a Zimbabwe dollar, and each hundredth part of a bond note unit and each hundredth part of a RTGS dollar is equivalent to a Zimbabwean cent” (Finance (No. 2) ACT, 2019).
Because, this is the continuation of the hectic balances and switching of currencies. That they are declaring foreign currencies as illegal tenders in Zimbabwe. Is to be expected, as they are getting a new currency or revamping a dead one. Still, the ZANU-PF should have ensured it better.
As they have had temporary measures like Bond-Notes and RTGS Dollars, which they are still infusing into the Zimbabwe Dollars, as a measure, where the ones who paid more than one-to-one with USD. Will lose funds and within that system, the state will initially shave-off funds from the public as they are transferring to RTGS Dollars or even Zim Dollars.
Combined with that shortfall in the public, as the inflation is still on the rise. The add-ons of financial distress will continue, as the state is still using half-measures to contain the economy, with the values and laws around the RTGS, instead of going all in with the Zimbabwe Dollars. They are in this and makes the mash-up between the RTGS/Bond-Notes and Zimbabwe Dollars. All of these three currencies are supposed to be equal and in tandem.
That will confuse and make it messy, as the electronic, the half-measured bond-notes and the revamped Zim Dollar are supposed to change the economy. This financial instrument is supposed to be the key to the troubles the economy is in.
I just don’t see it, I see it as a hectic abstract transaction system used to be able to fix and configure funds, by jumping between the three and taking more funds out of it while the public is losing on the various currencies. This is all made by the state and they are initially doing this to their own. Instead of thinking out one path to beat the hurdle, they are instead making it three. While, they still proclaiming Zim Dollar as the only one, but opening up to continue the two others.
Which is a sophisticated way of ensuring the state to get the Forex or exchange between them. As you have to exchange or pay in one form, the one set as the standard or the Zim Dollar, meaning, if you planning to move the RTGS Dollar to pay for something, that has to be transferred into Zim Dollar.
Financial voodoo and the public will suffer, because the state isn’t cleaning the slate, but trying to patch up wounds with yet another half-baked measure. Peace.
Thabitha Khumalo, National Chairperson of the Movement for Democratic Change – Alliance (MDC-A) and six other members of the party was today, arraigned, arrested and detained in Bulawayo. She was arrested as the MDC-A was scheduled to hold a freedom march in Bulawayo. However, she was instead incepted by the authorities.
Where she and the six others was charged with giving out leaflets of “Free Zimbabwe Campaign” on the 17th August 2019. In these leaflets, the state also found out that it accused, that the July 2018 elections were stolen, which the state claims is false.
This is the sort of state, the Zimbabwe African National Union – Patriotic Front (ZANU-PF) is up too. Using the state, the courts and the authorities to silence the opposition. Stop them from demonstrating and even using their civil liberties. This is what the state does.
Khumalo is now charged with something many claims, something that many people does, because of how the July 2018 elections was done. It is not just a mockery of the supposed legitimate government, but questioning the way the second republic was ushered in. From the November 2017 coup d’etat to the July 2018 polls.
MDC-A and its Presidential Candidate Chamisa have questioned this all along, which is natural, as the state has done whatever it can to muffle with any dissident. This is not a new tactic, but an old one, that the ZANU-PF learned from the Rhodesian governments too.
We are now seeing open bazaar oppression from the ZANU-PF, where the opposition is fair-game. They can be taken for anything or charged over nothing, which happens to be simple uttered words or leaflets. While the government can come with threats and warnings with no consequence. This is the state of affairs and the leadership doesn’t care.
It isn’t a new dispensation, just a new head of state, who likes to be a relic, a head of oppression and silencing his enemies. Peace.
In Harare today, the brutal crackdown on the planned and scheduled Free Zimbabwe Marches, which was for some reason unacceptable, where the state couldn’t ensure security or enough police officers to oversee the event.
However, the same authorities could with ease use their batons, their force and disperse the crowds of Harare. They had no intention of letting the public have a voice, walk with their feet together and clearly that violates the calm of the authorities.
We have seen today, the brute force, the anticipated fear-mongering, where the authorities uses their shields, their tear-gas and the extended violence against unarmed civilians. Who even sat down in-front of the armed officers. Still, they had to run towards them and beat them down. This is the sort of state, that the ZANU-PF profess too.
Making civil disobedience illegal, industrial action illegal and any sort of act of dismay towards them is clearly a violation of codes of conduct. Just a day after the horrific MOPO act, who will make it super-hard and ensure that the marches, the demonstrations and everything similar become near impossible. Because, the state got to cancel the rights of its citizens to live calm and in peace.
That is a fake peace, a peace based on fear, intimidation and lack of liberty. That is what the ZANU-PF is offering its citizens. This isn’t liberating, freedom nor justice, just a mere few gets all the perks, all the joys of the state, while the rest will suffer; if they dare to question the state.
That is the sign of today. This is what the state does, speaks of its own as enemies, because they are not accepting the disarray and the destructiveness of the state apparatus. Still, they are hurt and arrested, 100s of people was arrested today, scores of people and hurt. Who knows the final tally, but what is important is what the state says with its actions.
The citizens can come in peace, they can walk, but not march together. If they assemble, than expect trouble from the core government security organizations. They will haunt you down and will assess your damage. Because, they will claim you come with violence, with the will of destruction and with the intent of causing harm.
Instead, they do it all to you. They uses the brutal force, the ability to be armed and legally have the violence monopoly to settle the score, they will take you and you will get violated. That is who they are and what they do.
The Zimbabwe Republican Police cannot be proud, they are there to defend liberty and justice for the public, instead they are an armed mob attacking unarmed civilians. They are supposed to shield the unarmed civilians from criminal gangs, but the gang is the police. This is the state of affairs. That is who ZANU-PF is, which is sad.
But they had decided this result days ago, they had made the propaganda for this days ago. Even if the clips of the utter disgraceful attempts to silence humanity gets released world-wide. They will still claim there was some terrorists, some infiltrated hoodlums of some sort to create anarchy in the CBD of Harare. Alas, that was never the case, just citizens caring about their republic. Which is owned by someone else and represented by someone else, who doesn’t mind to violate all of their rights. As long as they get to rule and own it all. The public is supposed to be silent and cheer it on. Peace.
Well, the ones thinking it would get better Post-Mugabe was terrible wrong. The henchmen, the crocodile and his cadres are busy exposing the rot within the Zimbabwe African National Union – Patriotic Front (ZANU-PF). You don’t even need to shed lights to see it, it is out in the open and the stage is already set for the show.
The continues abductions, the torture, the arbirtrary arrests, the phony charges on dissidents and the warnings of public rallies/demonstrations are damaging the peace. Really, shows that the New Dispensations is more of the same. It could been Mugabe speaking, hell, it could have been his wife and the whole G-40. Standing on the barricades and saying his holiness anointed Mugabe to rule forever and ever. And nobody should stand in the way of his highness.
However, now its not Mugabe, now its his former deputy and former henchman Mnangagwa running the brigades, together with the military men like Gen. Chiwenga. They are not having it, if the public is speaking out or trying to demonstrate against them. They we’re allowed to topple a constitutional government, but the public themselves are not allowed. Because, they are not knowing what they are doing, that is only for the Generals to decide.
Mnangagwa and the ZANU-PF has no issues, coming with warnings, coming with harsher laws to settle the score. They have no issues to push the boundaries, even make laws that is sealing the constitutional rights of the citizens, as long as they get to stay in power. Even if the prices are running rapid, Unions are claiming their members cannot afford the basics, civil servants claim the stocks of goods is empty, the lack of maintenance and investment in infrastructure also bites.
The Lacoste, the running elite has no trouble getting expensive cars, renting private-jets and misusing government funds on Command Agriculture without any proof of the spending nor the results. While the inflations running like crazy, the financial system is crashing and the trust in the government is a all time low. The propaganda and the machinery behind the President cannot fix the issues at hand. Because, they are busy eating, but not contemplating solutions for the citizens.
That is why, instead of finding reasonable grounds for tomorrows demonstrations, they are trying to bar it from happening. Instead of listening to the demands or the needs of the public, they want to keep them all hostage to current dire situation. As millions are struggling to get by, the citizens are seeing their money losing value and the salaries not adding up. While the ZANU-PF is busy visiting Davos and walking around with their scarfs. Like the scarf really make a difference. It is just a token of the mismanagement.
Mnangagwa and ZANU-PF, just showing that they rather rewind the troubled past, to control by any means, and try to deflect everything. Not that its working. The lack of trust, the lack of care and the current siege against dissidents, really shows the true heart of the system. That they don’t care about the citizens, as long as they are eating. Which is a sad state of affairs.
The new dispensations is only revised old dispensation with a few new measures, even new laws ensuring the inevitable, that the freedom, liberty and pursuit of justice will be put on hold. As long as the ZANU-PF get the grip of power. Because, they cannot accept the MDC or anyone questioning their authority. Peace.