SOCIAL MEDIA TWIST
Panic buying, hoarding of foreign currency and the attempt to burn the bond notes was a direct result of social media abuse and foreign-owned interests in commerce and industry who have been opponents of the bond notes.Here Zimbabweans learnt that social media can influence consumer behaviour negatively and positively. This lesson has also panicked government to set up a ministry to mitigate effects of social media abuse.
FEAR AND PANIC
Every adult in Zimbabwe was affected in one way or another by the foreigner's attack on the Zimbabwean dollar. It is the fear of the repeat of 2008 that panicked the public into the hoarding frenzy and the subsequent hike in prices. The panic attack was triggered by professional political agitators on social media.
Zimbabweans are a gullible lot when it comes to anything in print and the internet. Thanks to the high literacy rate, the political agitators are taking advantage. High literacy rate does not grow in tandem with financial literacy. The lesson learnt here is that financial illiteracy is a big problem and there is need for educating the masses
Every adult in Zimbabwe was affected in one way or another by the foreigner's attack on the Zimbabwean dollar. It is the fear of the repeat of 2008 that panicked the public into the hoarding frenzy and the subsequent hike in prices. The panic attack was triggered by professional political agitators on social media.
Zimbabweans are a gullible lot when it comes to anything in print and the internet. Thanks to the high literacy rate, the political agitators are taking advantage. High literacy rate does not grow in tandem with financial literacy. The lesson learnt here is that financial illiteracy is a big problem and there is need for educating the masses
SYSTEMIC ABUSE
The fear of a repeat of 2008 keeps us in bondage and helps to perpetuate the very system that you are fighting against. Foreign-owned and controlled industry, the underground economy and the paid politically agitators have continued to fight against the bond notes. It is again this time there is bull run on the stock market and people are trying hard to ride on the dual listing of Old Mutual. It is not a coincidence that Old Mutual has a finger in all the listed companies. It is the benefactor of the panic buying and the attack of the bond notes.The lesson learnt here is that the foreigner owned companies that are systematically abusing our people and our economy.
LAUGHING LESSON
On a lighter note, our conspiracy theorist buddies believe that last month's panic buying of everything was instigated by the powers that be. They say the move was to get people to bring out all that cash they been keeping out of the system. The bulk buying did indeed put money into the formal sector, but it is what the informal sector is doing with the money that the Reserve bank should ask this sector.
Still, on a lighter note, Robert Mugabe did get credit for the stabilisation of both the prices and the rates. it was said as soon as he got off the plane from New York .the prices and money rates went down.I observed it but I could not link his arrival with the fall of the prices and money rates.
LAUGHING LESSON
On a lighter note, our conspiracy theorist buddies believe that last month's panic buying of everything was instigated by the powers that be. They say the move was to get people to bring out all that cash they been keeping out of the system. The bulk buying did indeed put money into the formal sector, but it is what the informal sector is doing with the money that the Reserve bank should ask this sector.
Still, on a lighter note, Robert Mugabe did get credit for the stabilisation of both the prices and the rates. it was said as soon as he got off the plane from New York .the prices and money rates went down.I observed it but I could not link his arrival with the fall of the prices and money rates.
THE LESSONS LEARNT
We have learnt as Zimbabweans that just because the rates and price have stabilised, and the money changers have disappeared it doesn't mean the problem has been solved. Our fears as Zimbabweans is that are our threats are external. Our government, industry, commerce and the ordinary people should come together and work to exorcise the demon of sanctions on our country.
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