Posted on 04/29/2018 9:20:56 AM PDT by ameribbean expat
Former Reserve Bank of Zimbabwe governor Gideon Gono says he was forced to print money even when he knew it would cause hyperinflation because the government was desperate to forestall a coup by hungry soldiers.
Gono, who retired in 2013, told the Mashonaland West Business Conference in Chinhoyi last week that cash was used to pacify the troops.
"If we had not done what we did printing money and allowing inflation to skyrocket, then the men and women you see in those beautiful uniforms, they were ready to get out of their barracks," he said.
"Operation Restore Legacy would have happened much earlier, but not one that we would have been commanding ourselves.
"It would have been a 'restore legacy' that would have been commanded from elsewhere.
Gono said he never had the resources to do his job during his tumultuous tenure at the central bank.
"I was given a car, which did not have fuel and expected to get to a certain destination. You drive on empty. ours was not an ordinary situation, ours couldn't be compared to any other country or any other situation," he said.
"Any attempt to get money was met with blockages.
"Faced with a situation that we were in, we chose to allow inflation to go the way it went as long as we preserved the lives of our people."
Gono said most of the time they could not tell Zimbabweans the truth that the country had no fuel or medicines fearing unrest.
(Excerpt) Read more at bulawayo24.com ...
Love your tagline.
You can get three, Zimbabwe 10 Trillion dollar notes for $26.99 on ebay. Or a 1,5, and 10 for $3.69
it’s coming...
the zimby’s should sell them on ebay
He’s still stuck on stupid.
In the eary 2000s, Zim didn’t have the hard currency to buy the ink and paper to print its currency
When I saw the topic headline....the image of Invader Zim popped into my head!
They do.
I bought one.
do you think they are zimbys selling them or outsiders?
Probably some third party.
Don’t think the Zims are bright enough...
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