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1. 
https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">Why arresting money changers won& #39;t workhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">
Thread by @KMutisihttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🔥" title="Fire" aria-label="Emoji: Fire">https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔥" title="Fire" aria-label="Emoji: Fire">
First of all, market problems are solved by market solutions, not by force. It never worked before and it will never work in future. This is a market problem requiring market solutions.
Thread by @KMutisi
First of all, market problems are solved by market solutions, not by force. It never worked before and it will never work in future. This is a market problem requiring market solutions.
2. https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">Why forex black market?https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">
It& #39;s simple, there is no white market!
The official rate is 1:1, so banks have no incentive to sell forex to anyone. ***https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔥" title="Fire" aria-label="Emoji: Fire"> This gives them a good reason to smuggle forex into the streets https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔥" title="Fire" aria-label="Emoji: Fire">***
The money changers are filling a lacuna herehttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">
It& #39;s simple, there is no white market!
The official rate is 1:1, so banks have no incentive to sell forex to anyone. ***
The money changers are filling a lacuna here
3. https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">But the rates are going crazy, let& #39;s arrest these folks?https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">
Nope, if you harass them, you actually increase scarcity of forex on the streets & increase the rates even more! We should actually be encouraging more people to sell forex so that the supply increases & rates fall!
Nope, if you harass them, you actually increase scarcity of forex on the streets & increase the rates even more! We should actually be encouraging more people to sell forex so that the supply increases & rates fall!
4. https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">Hey wena Kudzie, we should encourage more people to join the black market https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">
Yep! The more suppliers we have, there will be competition amongst them & the rates will fall. It& #39;s a simple Economics principle. Liberalising markets is the way 2 go. Let people sell forex freely!
Yep! The more suppliers we have, there will be competition amongst them & the rates will fall. It& #39;s a simple Economics principle. Liberalising markets is the way 2 go. Let people sell forex freely!
5. https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">Since the rates are crazy already, will they drop or stabilizehttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">
Definitely! Unless RBZ prints more money!! With these crazy rates, many people will want to *burn* their forex & thus increase the supply. Demand will also plateau if money supply is kept constant.https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">
Definitely! Unless RBZ prints more money!! With these crazy rates, many people will want to *burn* their forex & thus increase the supply. Demand will also plateau if money supply is kept constant.
6. https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">So should we introduce the Forex White Market?https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">
I say yes!! But it& #39;s only possible if we have a floating currency, not the pegged currency we have now. It& #39;s also disastrous to float the bond note/RTGS now, people& #39;s savings will be lost. Govt has to guarantee themhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">
I say yes!! But it& #39;s only possible if we have a floating currency, not the pegged currency we have now. It& #39;s also disastrous to float the bond note/RTGS now, people& #39;s savings will be lost. Govt has to guarantee them
7. https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">So you are saying we are stuck with the Forex Black Market now?https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">
Yep! Until there is no more incentive for selling forex on the streets... Until there is no more demand for forex from the streets... Until there is a floating currency & banks can sell forex for a profithttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">
Yep! Until there is no more incentive for selling forex on the streets... Until there is no more demand for forex from the streets... Until there is a floating currency & banks can sell forex for a profit
8 https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">So what& #39;s the way forward Kudzie?https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">
Let& #39;s increase our exports & reduce our imports.. We will have lots of forex & all companies & individuals will be having access to cheap forex. The streets won& #39;t be relevant anymore. Production for export is the way to go!
Thank you!https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇿🇼" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe">
Let& #39;s increase our exports & reduce our imports.. We will have lots of forex & all companies & individuals will be having access to cheap forex. The streets won& #39;t be relevant anymore. Production for export is the way to go!
Thank you!
