Tuesday, 24 November 2015

Exchange rates | National Budget | Paris bombings

They told us the heatwave would last only a week...yet till Sunday 15th November daily temperatures were higher than usual.

...and what happened to the 'prophecy' that the sun would dim for 15 days?

Mid-November in Southern Africa yet still no rains...and Limpopo in SA has been declared a drought zone this farming season.  You still doubt climate change?

Now to politics...Finance Minister Patrick Chinamasa who has been largely quiet of late is expected to present the 2016 national budget.  It's a big YAWN of cause but we can't ignore it outrightly.
What can we look forward to?  A huge loan from China or Russia?
Another tax increase and introduction of the stupid empowerment levy?
More funding for the agricultural sector when hospitals are no more than quarantine facilities?
Or it's just the same old story, same old commitments but no concrete action.

With memories of the Charlie Hebdo incident still fresh, Paris has been hit by another series of bombings.  ISIS claimed responsibility and several suspects have been arrested.
The question however is 'How is France going to react?
Are we going to see another NATO operation in the middle East?
How does this affect the thousands of migrants who are predominantly Moslem as they try to seek asylum in France?
France being the godfather of the Francophone has been a place of refuge for most West African countries plus the Sahel region, how will these relations be affected?
What if France and Europe try to cut a compromise deal with the Moslem world?

Sad indeed and our hearts are with the families of the victims.

...back to Zimbabwe
"The RBZ is sitting on $1million worth of bond coins" ...and we have shops rejecting Rand coins.
I have tried to ignore conspiracy theorists (who even saw Zanele's death as plain politics) but there could be truth in their thinking that the RBZ is behind the Rand Coin Crisis.
Why would retailers reject the R5 coin and yet receive the R100 note?
What's the difference? (economists please explain)
It cant be because the Rand is weakening...its been fluctuating over the years (Takunda Mugaga how can we explain this?)

Someone somewhere within the system is gaining something and we haven't figured it out yet.
Remember the days of 'burning' money?
The authorities were making a killing by giving us useless Zim$ and taking away our US$.

Is this the end of the Rand coin or its just a passing phase? (the southern parts of Zimbabwe use the rand as if they are in Polokwane)

Now that citizens are stuck with these coins and they can't transact, how will this affect the economy?
If the authorities are not the ones behind this, what are they doing to remedy the situation?

On a closing note, LEAF was launched to assist youths with loans...which youths exactly?

Never be afraid to ask questions...

For the good of the Republic!

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