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Wednesday, October 26, 2016

KTFA: ZIMBABWE UPDATE, 26 OCT

KTFA:

Cleitus:  To better understand Zimbabwe you have to go back to when it was called Rhodesia.  In those days it was considered the riches country in Africa and the riches country in the world as far as minerals. It had over 70 minerals, including high grade chrome, platinum, lithium, gold not to mention diamonds..., many diamonds.

 Their platinum reserves are estimated to last for 400 years.  Today they are an oil producing country that can sustain itself with their own fuel. They also are rich in producing agricultural products especially coffee.  

It's worth doing some homework on this country. I personally believed, for many years, that once Zimbabwe got out from under the clutches of the Communist dictator Mugabe it would join the rest of the world and take its rightful place.

Update: Zimbabwe finally issues controversial Bond Notes money

The long awaited controversial token money, the Bond Notes, is finally available and will be released to the market early next week, Zimnews has learnt.

The Zimbabwe reserve bank has already started massive educational campaigns throughout the country to prepare people for the Bond Notes.

“During the past two weeks we have been securing money and it is coming but do not abuse it..” Reserve Bank of Zimbabwe governor John Mangudya said.

Speaking at a luncheon organised by the St Luke’s Anglican Church in Greendale, Dr Mangudya said the bond notes could not be introduced without carrying out wide awareness campaigns as people would be duped. He dismissed speculation that the current cash shortage was a result of the impending introduction of the bond notes. He said the shortage was a result of more imports and low exports.

The governor could not explain why there were reports, last week, suggesting that a Germany company tasked with printing the token money had refused to do so.

https://zimnews.net/zim-bond-note-latest-24-10-2016/

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