Due to President Robert Mugabe and the corrupt black leadership, Zimbabwe has now only got $216 dollars in its bank account.
From The Atlantic Wire
There are cash-strapped governments and there are broke governments. And then there’s Zimbabwe, which, after paying last week’s government salaries, has just $217 left in the bank. No, we didn’t forget any zeroes to the end of that figure. Zimbabwe, the country that’s home to some of the world’s largest platinum and diamond reserves, literally has the same financial standing as a 14-year-old girl after a really good birthday party. The country’s finance minister admitted as much in a press conference on Tuesday. “Last week when we paid civil servants there was $217 [left] in government coffers,” Tendai Biti told reporters. “The government finances are in paralysis state at the present moment. We are failing to meet our targets.”
So it seems. However, Zimbabwe is hardly a stranger to financial hyperbole. The economy started to come apart at the seams in 2000, when President Robert Mugabe seized the land of over 4,000 white-owned farmers, effectively dismantling the country’s agriculture industry. Over the course of the next decade, the country spiraled into an extended period of hyperinflation, the likes of which the world almost never sees. It peaked in August 2008, when inflation reached 11,200,000 percent and economists around the world started to say that the country’s situation was hopeless. Prices were doubling by the day, and the government had to print Z$100 billion notes. The following year, they went ahead and printed Z$100 trillion notes, just before deciding to chop 12 zeroes off of the currency. A new coalition government formed that year and started on the long process of financial recovery, a process that is clearly going to take a little longer.
It’s unclear how the Zimbabwean government is going to get itself out this fiscal mess, but whatever it does, it needs to do it quickly. As Quartz’s Tim Fernholz points out, Zimbabwe is looking at a $104 million bill for its upcoming election. Its government is also dealing with brand new allegations that government officials have been running a corruption ring around the country’s diamond mines. The country obviously desperately needs a major change. “But action against corruption probably won’t come until the end of Mugabe’s reign, and a new constitution coming up for a referendum this spring — presuming the funds can be found — might set up the aging autocrat for another term in power,” writes Fernholz.
Until then, looking for quarters under the couch isn’t going to cut it, so Zimbabwe is doing the only thing it can do. “We will be approaching the international community,” Biti said. You’ll never guess who’s most likely to come to the rescue. Hint: They’re big fans of rare minerals.
Hmmm, I wonder what could be the reason for all this?
Could it be because of the expropriation of white farmers and handing it over to the blacks, who in turn have completely turned Zimbabwe into one of the poorest countries in the world?
In a way, Zimbabwe is doing better than the US. We’re living on worthless fiat money right now. Actually, Uncle Sam doesn’t even have 217 dollars to his name. The US is in the hole for trillions upon trillions of dollars in debt, and doesn’t even have 217 of hard currency in the till, not really.
” Worthless fiat money” is a redundancy.
One can blame the jew bankers — which I do — but the jew bankers had tons of help and assistance from loads of whites, many of the non-jewish whites called[ing] themselves “Christians”.
The black race produces alot of street criminals. My white race produces alot of white-collar criminals and sell-outs [ more redundancy ].
This year marks the 100th anniversary of the passing of the Federal Reserve Act in 1913. Woodrow Wilson admitted on his death bed that he had sold the good ‘ole USA down-the-river. Gee, thanks Woody. The Big Woody. He f*cked us all real good and hard.
I don’t trust death-bed confessions. Something about ‘em that just reeks of even more cowardice and lack-of-spine.
The great Italian poet, Dante, consigned white sell-outs to the lowest pit in hell, even below the pit the jews go to. I’m not a great poet — or any kind of poet — so I won’t go as far as Dante, but you know what I mean …….