• Uncategorized

gono ups the ante in harare

A week before he was confirmed for a second term as governor the Reserve Bank of Zimbabwe Gideon Gono named and shamed a few bad apples live on national TV concerning the whole cheque thing.

Last night dear 3G was at it again and this time it was the banks he was calling out for diverting funds onto the streets. Well he is really beginning to lose a bit of that stench is it not because some of the moderates are beginning to give the guy a break.

My take is poor 3G is in a fix. You have economists who use books for any situation saying he is stuffing up when the environment is beyond books really. I mean what does anyone really do here?

You have to go militant and call out people face to face. I think you have to come out and protect the little guy. This is what governments and central banks are supposed to do. The framework is very simple. I have said it a lot of times. When the people are abused the state machinery has to come into play.

Right now the government, basically the country is running of RBZ’s current account. They want to make money but Reserve Bank of Zimbabwe must pick up the tab afterwards. Which doesnt make sense. Privatise the profits and socialise the losses? A ball of hogwash dipped in scum.

But that said a lot more needs to be done. There has to be an indefinite period of concerted pressure from the authorities to deal with the dregs that are doing this.

That is what I think anyway…