TETELESTAI Notification List

The TETELESTAI (It is finished) email which will contain the first 800#'s will be posted first on a private page and will be sent out to everyone subscribed to the private page's feed.

If you wish to subscribe to the private page's feed, please visit the TETELESTAI page located HERE and access the private page.

If you're having trouble please give me an email at UniversalOm432Hz@gmail.com

(Note: The TETELESTAI post is the official "Go" for redemption/exchange.)

Guest Posting & Responding Now Available

Dinar Chronicles is now allowing viewers to guest post and respond to articles. If you wish to respond or speak your mind and write a post/article or about the current situation relating to Iraq, the RV, the GCR and so on. You may now send in an entry.

All you need to do is send your entry to UniversalOm432Hz@gmail.com with these following rules.

The subject line of your email should be: "Entry | (Title of your post) | Dinar Chronicles"

- Proper grammar
- Solely write intel, rumors, news, thoughts, messages regarding Dinarland, Iraq, the RV, the GCR, NESARA/GESARA, the Republic, Spirituality, Ascension and anything that is relating
- Your signature/name/username at the end (If you wish to remain anonymous then you don't need to provide one.)

If you have any questions or wish to communicate with us then please give us an email at UniversalOm432Hz@gmail.com

Send your entry and speak out today!

Follow Dinar Chronicles by Email

Featured Post

Restored Republic via a GCR: Update as of June 25, 2018

Restored Republic via a GCR: Update as of June 25 2018 Compiled 25 June 12:27 am EST by Judy Byington, MSW, LCSW, ret. CEO, Child Abuse Re...

Sunday, July 2, 2017

Zimbabwe: Financial Indiscipline to Blame for Cash Shortages

ZIM Bond Notes are international...


‘Financial indiscipline to blame for cash shortages’

July 3, 2017
Noel Munjanja

Reserve Bank of Zimbabwe

Business Reporter
ENDEMIC financial indiscipline in Zimbabwe has resulted in money being treated as a commodity instead of a medium of exchange and is one of three major reasons the country is currently battling chronic cash shortages.

Newly appointed Reserve Bank of Zimbabwe Deputy Governor Dr Jesimen Tarisai Chipika said bond notes were no longer an internal medium of exchange with hordes of the surrogate currency being stashed in homes or shipped to border posts and regional countries.

She said this last Friday while addressing Professional Women, Women Executives and Business Women’s Forum, which advances the interests of women and seeks to help them participate in the mainstream economy through starting their own enterprises.

“There is financial indiscipline in Zimbabwe and I think part of it was picked from the era of ‘burning’ (arbitrage in currency trading). Money is now being treated as a commodity, instead of a medium of exchange. Basic economics say that money is a medium of exchange. If we have an economy driven by the parallel market for currency, we are destroying ourselves. We have a problem, because we are drifting back to the era of burning currency, where we also did not bank, but stashed money at home.

“We have been told that the money which we are saying is in shortage, be it bond notes or otherwise, is all stashed up at the country’s border posts. We have been told by our financial intelligence that the bond notes are now hard currency within the Sadc region.

“The currency is now accepted as legal tender in countries such as Zambia, Mozambique and South Africa. When we introduced it, we only meant it as an internal currency to help us in transacting and as incentives for exporters,” she said.

“As such, a lot of dynamics are happening in our country and we have since invoked the Bank Use and Promotion Act, which many people had forgotten about, to say as business people you must take all your daily cash receipts to the bank,” she added.

Dr Chipika said all daily proceeds of business and idle cash should, as per requirements of the law, should be banked in order for the money to circulate in the economy since Zimbabwe was not printing money and used foreign currencies to transact.

She also pointed out that expenditure by Government, of financial resources not yet available was one of major causes of the prevailing cash shortage.

“One of the major problems causing the cash shortage in Zimbabwe is deficit financing. Deficit financing in an economy can be in the form of expenditure patterns of Government, in our companies or by us as individuals.

“Deficit financing, if its Government, it pays civil servants based on money which is not there and so, it approaches the Reserve Bank for overdrafts or it issues Treasury Bills. It’s not only Government guilty of such, even companies, they obtain overdrafts of money that is not available and use it to pay salaries,” Dr Chipika said.

Such a scenario, the central bank’s second in command said, puts pressure on banks to meet huge demands for cash when the financial institutions do not have the funds.

Source: The Herald



We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."

All rights reserved go to their respective holders. We do not own the intellectual property shown on this website, the respective holders own that privilege unless stated otherwise.

We do not endorse any opinions expressed on the Dinar Chronicles website. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on Dinar Chronicles.

Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not intend to and are not providing financial, legal, tax, political or any other advice to any reader of the website. This website is...Read More