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RE: Witnessing the Aftermath of Hyperinflation: Zimbabwe

in #life8 years ago

It can happen to any fiat currency, but you need to understand the Zim history to understand why they experience this hyperinflation. These guys looted their economy and to promote political correction they destroyed the only economic driver they had - agriculture - by taking farms away from productive farmers and give it to those who have no interest in farming. The worse thing is that the Zim government does not see it as a problem. After the west stopping giving money, the Chinese government started to bankroll them. Other African nations also don't see it as a crisis. In the African Union Mugabe is seen as one of the great leaders of the continent.
Heiditravel's mentioned the Congo war as a reason, but that was not a war like we have seen in the other parts of the world. Those were little battles between fighting factions in a country. Namibia also sent some troops to this war, but they don't have hyperinflation. As a matter of fact, Namibia is a desert and Zim a tropical paradise. If one of these two should have hyperinflation, it should be Namibia.

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