Zimbabwe Stock Market Crashes - What Happens After Mugabe? | Zero Hedge
Description: In the last two days, the Zimbabwe stock market has crashed almost 10% as a 'not-military-coup' has ousted 93-year-old President Mugabe - the question is, what happens next?
Keywords: Zero Hedge,Zerohedge,Finance,Economics,Markets,Politics,Analysis
Date: 2013-01-07T00:00:00Z

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# Zimbabwe Stock Market Crashes - What Happens After Mugabe?

by Tyler Durden
Nov 16, 2017 10:42 AM
0
SHARES

In the last two days, the Zimbabwe stock market has crashed almost 10% as a 'not-military-coup' has ousted 93-year-old President Mugabe - the question is, what happens next?

Bloomberg reports that Zimbabwe President Robert Mugabe’s refusal to publicly resign is stalling plans by the military to swiftly install a transitional government after seizing power on Wednesday, two people familiar with the situation said.

That uncertainty is clearly showing up in Zimbabwe stocks...

The military wants Mugabe, who’s under house arrest, to agree to step aside so it can claim its action isn’t a coup and head off tension with the Southern African Development Community, which includes Zimbabwe and South Africa, the people said. The group previously intervened when the army took over in Lesotho.

However, as a reminder, Pedzisayi Ruhanya, the director of the Zimbabwe Democracy Institute, warns,

> “Mugabe wants to die in office and is not interested in seeing his successor."

> “He is not a student of democratic processes.”

Bloomberg goes on to note that the new rulers, headed by armed forces commander Constantino Chiwenga, plan to try and negotiate the establishment of a transitional government with the opposition until elections can be held to restore stability, the people said.

But first they want a deal with Mugabe, whose 37-year rule left an economy that has halved in size since 2000, a severe cash shortage that’s choking businesses and a collapse in government services.

The military has declined to comment on its plans.

> “The military, or the people who are now in charge, obviously they have some respect for Mugabe -- he is someone who has led them for so many years,”Alex Magaisa, a Zimbabwean law lecturer who helped design the southern African nation’s 2013 constitution, said in a interview with Bloomberg Television in London.

> “I think there is still some residual sympathy for him. They wouldn’t want to be seen to be mistreating him.”

The operation to take power had been planned for weeks but was accelerated after Mugabe fired his deputy Emmerson Mnangagwa, according to the people.

Many ordinary people simply hope that the authorities can improve daily life in Zimbabwe, where an estimated 95 percent of the workforce is jobless.The country doesn’t even have its own currency and relies mainly on the dollar.

> “I hope and pray this takeover will bring lasting solutions for us,” said James Saunyama, as he collected his weekly allocation of $50 in coins from a bank in Harare.

> “We’ve endured enough so this takeover must give us better and improved lifestyles going forward.”

The new rulers also want to repair relations with Western countries, who used to be among the biggest investors in the country, and international lenders, the people said.

They will seek investment from the more than 3 million people who left Zimbabwe because of the economic collapse including the white farmers driven off their land, the people said.

Mark Bohlund, Africa economist with Bloomberg Intelligence in London, expects Zimbabwe’s economic challenges to persist even if there is a power shift and the country adopts more orthodox economic policies.

> “Expectations for quick progress toward receiving financial support and potential debt relief should be tempered,” Bohlund said.

> “The huge challenges ahead and continued political uncertainty is likely to deter inward investment for many years to come.”

We leave it to Pedzisayi Ruhanya to sum things up...

> “The chaos happening in Zimbabwe and ZANU-PF is what happens when the end of an authoritarian era approaches."

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takeaction Nov 16, 2017 10:44 AM

I have my 100 Trillion Dollar bill I bought off of Ebay.....It is fun to carry around...and try and pay for shit.

hedgeless_horseman takeaction Nov 16, 2017 10:50 AM

THE FARMER AT WAR

By Trevor Grundy and Bernard Miller

Published by Modern Farming Publications

Salisbury 1979

An interesting read...

> If the white farmer is under siege, then his black counterpart in the Tribal Trust Lands, which make up 41 per cent of the country's land mass, an area roughly three times the size of England, and in the African commercial farming areas, is doubly so. Most of the 6500-plus black civilians who have died at the hands of terrorist gangs, or in crossfire, were black farmers and their families, many of whom were horribly tortured. The list of atrocities makes nightmare reading.

> http://rhodesia.nl/farmeratwar.html

Gap Admirer hedgeless_horseman Nov 16, 2017 10:52 AM

BTF Zimbabwe D

hedgeless_horseman Gap Admirer Nov 16, 2017 11:12 AM

> They will seek investment from the more than 3 million people who left Zimbabwe because of the economic collapse including the white farmers driven off their land, the people said.

Are you fucking kidding me?

Really?

Good luck with that.

> June 24 1978 – From the Sunday Mail, Salisbury, Rhodesia – Terry Blocksidge reports: On the night of June 23, 1978, Elim Mission in the then-Rhodesian Eastern Highlands – unarmed men, women and children — was [sic] subjected to the worst massacre of missionaries yet experienced.

A mother, beaten to death, lay with her young baby. The baby had also been savagely beaten. Their arms stretched out to each other, their hands resting an inch apart. The child’s hand was clenched. The mother had a hand squeezed tightly around her engagement ring, turned into her palm, as she reached for her baby in her dying moments.

> Eight British missionaries and four young children – including a three-week-old baby – were bayoneted to death by terrorists on Rhodesia’s Eastern border on Friday night in the worst massacre of whites since the six-year-old war began. Three of the missionaries were men and the others women. (most of the women were also raped, and one was mutilated.)

> A sixth woman was stabbed and beaten and left for dead. She staggered 300 m into the freezing Vumba bush to spend the night before being found semi-conscious by security forces yesterday. Despite intensive care in a Salisbury hospital she subsequently died. The gruesome murders, by a group of eight to 10 terrorists, happened at Emmanuel Mission School – 15 km south-east of Umtali and 8 km from the Mozambique border – once used as the Eagle boarding school. The dead, who belonged to the Elim Pentecostal Church, were:

> Mr. Peter McCann (30), his wife, Sandra (also 30), son Phillip (6) and daughter Joy (5).

> The Rev. Phillip Evans (29), his wife, Suzan (35), and their daughter Rebecca (4).

> Mr. Roy Lynn (37), his wife, Joyce (36), and their daughter Pamela Grace. She would have been three weeks old yesterday.

> Catherine Picken (55) and Elizabeth Wendy Hamilton- White (37).

> Miss Mary Fisher (28).

> Most of the women had been sexually assaulted, and one mutilated. Even hardened security men were stunned by the bloody scene and stood around silently. “The quiet is uncanny”, said one. Mr. Brian Chapman, director of the Church in Rhodesia and South Africa, visited the scene yesterday. He said: “We saw no humanity here.”

Iconoclast421 hedgeless_horseman Nov 16, 2017 11:30 AM

How you put images in comments?

7thGenMO hedgeless_horseman Nov 16, 2017 12:09 PM

Thanks. Americans of European descent should be reminded that (to 3rd Worlders) we are just as much a part of The Empire as the Rhodesian pioneers. Of course, the poor farmers never really profit from The Empire, but the (((Rothschilds))) and Royalty have, and they are still in power, more willing than ever to throw common Europeans/Americans to the hordes.

semperfi takeaction Nov 16, 2017 10:49 AM

5 years ago I bought one of those for $5 US at my local coin shop.

Raffie takeaction Nov 16, 2017 11:31 AM

I will buy Zimbabwe with 1 bitcoin.

MUHAHAHAHAHA

Falconsixone Nov 16, 2017 10:45 AM

Step DOWN Franken !!!

takeaction Falconsixone Nov 16, 2017 10:47 AM

OH WHAT A GREAT DAY!!!

http://www.kabc.com/2017/11/16/leeann-tweeden-on-senator-al-franken/

E.F. Mutton takeaction Nov 16, 2017 10:50 AM

Senator Al, the Sleeping Gal's Pal

Even better than his diaper pic by X1000

Navymugsy takeaction Nov 16, 2017 10:51 AM

Oh that is too fuckin juicy! Okay Al, what's your explanation? Fucking idiot.

E.F. Mutton Navymugsy Nov 16, 2017 10:59 AM

Does Al have dual-citizenship? He might want to call Priceline about Tel-Aviv

Kosher Fucking Klown

Bai Suzhen Nov 16, 2017 10:47 AM

What? Zimbabwe market has crashed? Damn... I knew I shouldn't have put everything in to loincloth and nose bone futures.

gladih8r Bai Suzhen Nov 16, 2017 10:59 AM

Long spears and war-drums.

That and stewing pots.....

Navymugsy Nov 16, 2017 10:48 AM

Zimbabwe has a stock market? Is that where Pets.com went in 2001?

RagaMuffin Nov 16, 2017 10:49 AM

“The chaos happening in Zimbabwe and ZANU-PF is what happens when the (end) beginning of a new authoritarian era approaches." fixed it for ya ;-)

JibjeResearch Nov 16, 2017 10:49 AM

Fuck, Zimbabwe has a stock market? Wow....

DEMIZEN Nov 16, 2017 10:50 AM

i didnt know they have stocks in africa. is not what bob geldoff said...

E.F. Mutton Nov 16, 2017 10:51 AM

If it weren't for those meddlesome White People

They'd STILL BE KANGZ

Sonder Nov 16, 2017 10:56 AM

Zimbabwe has a stock market?

Ghost of Porky Sonder Nov 16, 2017 11:08 AM

NAZBLAQ

0valueleft Nov 16, 2017 10:57 AM

All the zimmy's have to do is hope harder, works for our stawk mawket.

To Hell In A Ha... Nov 16, 2017 11:21 AM

If Zimbabwe went to a gold and silver backed currency the lemons on ZH, will still laugh and ridicule, while not looking at the irony of the FED Quantitative Easing to the moon and back. Zimbabwe, Argentina and Venezuela print money and FOREX reacts.

The FED, BOE. BOJ and ECB print money and everything is just fine and dandy. No jokes of the $1 trillion U.S dollar and that is the real joke, because our money printing does not count when it comes to FOREX. The so-called "INTERNATIONAL MARKETS" just don't react. Oh please...

Financial death is coming to the USSA very soon. I just hope some of you guys, have the same sense of humour when it is you and your neighbours getting clubbed like a seal by the banksters and the international order.

TBH even if Zimbabwe had honest money and it was backed by something, FOREX would still rig it that the paper FIAT of the USSA and the west, despite being backed by nothing, having more debt and unfunded liabilities. It' all rigged and that's the tragedy of it all.

shovelhead To Hell In A Handbasket Nov 16, 2017 11:41 AM

And if pigs had wings they'd be super-sonic.

Do you have a point?

aliens is here Nov 16, 2017 11:45 AM

They have a stock market? WOW.

BarbaricRelic Nov 16, 2017 11:53 AM

I didn't even know they had a stock market.

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