You are here

Zimbabwe's former central banker says he printed money to prevent coup

Section: Daily Dispatches

From Bulawayo 24 News
Bulawayo, Zimbabwe
Sunday, April 29, 2018

Former Reserve Bank of Zimbabwe Governor Gideon Gono says he was forced to print money even when he knew it would cause hyperinflation because the government was desperate to forestall a coup by hungry soldiers.

Gono, who retired in 2013, told the Mashonaland West Business Conference in Chinhoyi last week that cash was used to pacify the troops.

... Dispatch continues below ...



ADVERTISEMENT

USAGold: Coins and bullion since 1973


USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.

Please call 1-800-869-5115x100 and ask for the trading desk, or visit:

http://www.USAGold.com

USAGold: Great prices, quick delivery -- all the time.



"If we had not done what we did printing money and allowing inflation to skyrocket, then the men and women you see in those beautiful uniforms, they were ready to get out of their barracks," he said.

"Operation Restore Legacy would have happened much earlier, but not one that we would have been commanding ourselves." ...

... For the remainder of the report:

https://bulawayo24.com/index-id-news-sc-national-byo-134280.html

* * *

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Thursday-Sunday, November 1-4, 2018
https://neworleansconference.com/

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16