Zimbabwe Can't Paper Over Its Million-Percent Inflation Anymore [no more banknote pap

Mtanganyika

JF-Expert Member
Jul 18, 2007
1,606
1,500
Posted on Tuesday, July 01, 2008 10:44:20 PM by rabscuttle385

Robert Mugabe has kept his embattled regime in Zimbabwe afloat on a sea of paper money. Now, he'll have to try to do it without the paper.

The Munich-based company that has supplied Zimbabwe with the special blank sheets to print its increasingly worthless dollar caved in to pressure on Tuesday from the German government for it to stop doing business with the African ruler.

Mr. Mugabe's regime relies on a steady supply of the paper -- fortified with watermarks and other antiforgery features -- to print the bank notes that allow it to pay the soldiers and other loyalists who enable him to stay in power. With an annual inflation rate estimated at well over 1 million percent, new notes with ever more zeros need to be printed every few weeks because the older ones lose their worth so quickly.

Giesecke & Devrient -- a secretive, family-owned Bavarian company that once made its money churning out worthless cash for the doomed Weimar Republic in the 1920s -- has been airlifting tons of blank notes to the Zimbabwean capital Harare. The company, which has been doing business with the African nation since before Mr. Mugabe took power in 1980, is one of the few sources in the world for the specialized paper that is so important in an age when computers and laser printers have made forgery easy.


(Excerpt) Read more at online.wsj.com ...
 

Masanja

JF-Expert Member
Aug 1, 2007
4,358
2,000
The disctatorship of this man will crumble. Very soon. Hatuna haja ya kuumiza vichwa kupeleka majeshi....
 

S. S. Phares

JF-Expert Member
Nov 27, 2006
2,141
1,195
The disctatorship of this man will crumble. Very soon. Hatuna haja ya kuumiza vichwa kupeleka majeshi....


Mobutu Sese Seko Nkuku Ngbendu wa Za Banga (Zaire) alifanya haya anayofanya Jongwe Mugabe lakini ilimchukua Senior Kabila mwaka mzima msituni kumtoa madarakani...huyu Mugabe anaonekana yuko tayari kwa lolote ili asiachie ngazi. Majeshi ya kumngoa kwa nguvu ni muhimu yawepo kwenye plan mpaka hapo itakapothibika vinginevyo.
 

Toa taarifa ya maudhui yasiyofaa!

Kuna taarifa umeiona humu JamiiForums na haifai kubaki mtandaoni?
Fanya hivi...

Umesahau Password au akaunti yako?

Unapata ugumu kuikumbuka akaunti yako? Unakwama kuanzisha akaunti?
Contact us

Top Bottom