WikiLeaks Parallels!! Ominous Parallels of the United States and Zimbabwe

Posted on November 28, 2010 by


The following is from the new WikiLeaks release today. Sound frighteningly like the United States?

4. (C) And now, faced with the hyperinflationary consequences of his ruinous fiscal policies and growing reliance on the printing press to keep his government running, Mugabe has launched Operation Slash Prices. This has once again given him a very temporary boost in popularity (especially among the police, who have led the looting of retail outlets and now seem well positioned to take a leading role in the black market economy) at the cost of terrible damage to the country and people. Many small grocery and shop owners, traders, etc., will be wiped out; the shelves are increasingly bare; hunger, fear, and tension are growing; fuel has disappeared. When the shelves are still empty this time next week, the popular appeal of the price roll back will evaporate and the government simply doesnQt have the resources to replace the entire private commercial sector and keep Zimbabweans fed. It may attempt to do so by printing more money, adding even more inflationary pressure on a system already reeling from the GOZQs quasi-fiscal lunacy combined with the price impact of pervasive shortages. The increasingly worthless Zim dollar is likely to collapse as a unit of trade in the near future, depriving the GOZ of its last economic tool other than sheer thuggery and theft of others assets.