Chairman of the Reserve Bank of Zimbabwe on Fed and BOE policy

Discussion in 'Wall St. News' started by Debaser82, Dec 14, 2008.

  1. Dr. G. Gono, chairman of the Reserve Bank
    of Zimbabwe:

    As Monetary Authorities, we have been humbled and have taken heart in the realization that some leading Central Banks, including those in the USA and the UK, are now not just talking of, but also actually implementing flexible and pragmatic central bank support programmes where these are deemed necessary in their National interests.

    ...That is precisely the path that we began over 4 years ago in pursuit of our national interest and we have not wavered on that critical path despite the untold misunderstanding, vilification, and demonization we have endured from across the political divide.

    ...Here in Zimbabwe we had our near-bank failures a few years ago and we responded by providing the affected Banks with the Troubled Bank Fund (TBF) for which we were heavily criticized even by some multilateral institutions who today are silent when the Central Banks of UK and USA are going the same way and doing the same thing under very similar circumstances thereby continuing the unfortunate hypocrisy that what's good for goose is not good for the gander.

    ...As Monetary Authorities, we commend those of our peers, the world over, who have now seen the light on the need for the adoption of flexible and practical interventions and support to key sectors of the economy when faced with unusual circumstances."

    NO HOAX!

    lol lol lol :D
  2. bdiego


    Oh burn. Next thing you know North Korea is going to praise the US and Europe for embracing more core socialist principles.
  3. you know you are in deep doodoo when a country whose economy went down more times than a hooker on dollar day praises your economic policies.
  4. Good laugh. :D
  5. Actualy, Zimbabwe was once the breadbasket of Africa and they were doing just fine in African standards before they started their printing frenzy.

    Now they have epidemics caused by lack of clean water, sewage running through the streets, and starvation and death of their populace.

    The US has terrible clean water suply and a healthcare system ranked lowest amongst all industrialised nations without hyperinflation.