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FIVE REASONS NOT TO TRUST MUGABE’S CENTRAL BANK CHIEF ON BOND NOTES

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Long queues outside ATMs. Security guards on Sunday confirming that those machines that are already empty “won’t be stocked until Monday.”

A banking official speaking privately of “truckloads” of bond notes on the move before the weekend.

Zimbabweans are in panic mode following Saturday’s announcement that the central bank is to rail-road through the introduction of this controversial currency-that-isn’t-a-currency, starting with 10 million new notes on Monday. “But I thought [bond notes] weren’t coming yet,” wailed one business-owner.

With the dark days of hyperinflation and rampant currency printing only eight years ago, Zimbabweans aren’t ready to have any hope in these new notes – even if bank chief John Mangudya says he’s staking his career on them.

Here are five reasons NOT to trust Mangudya on bond notes:

Read full article – https://www.regime.press/2016/11/29/five-reasons-not-to-trust-mugabes-central-bank-chief-on-bond-notes/

https://www.regime.press/2016/11/29/five-reasons-not-to-trust-mugabes-central-bank-chief-on-bond-notes/

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