1. You would think it’s safer at the bank. But ask Stone Beattie Studio. It deposited US$142K at CABS. Few years later government decreed it was now ZWL142K, a tiny fraction of its value. CABS refused to pay the USD citing the law. The Supreme Court agreed. Isn’t that a heist?
https://twitter.com/rangamataire/status/1384911957099225088
2. The question editor & homeboy, is not why people carry large sums BUT why some people still deposit money at the bank. Because the difference between the street robber and the banker is that one has the authority of the state by law to rob. But truth is, both rob other people
3. It is a sign of a dysfunctional financial and economic system when individuals prefer to keep such money in person rather than at the bank. It’s not just currency laws & lack of trust. It’s the extortionate bank charges, the cumbersome, inefficient & rude service provision.
4. Ask N.R. Barber who won a judgment to be paid US$3,9 million by Zambezi Gas. Soon after Zambezi Gas offered to at the amount in RTGS, just a tiny fraction of the original debt. Why? Because government had changed the law. The Supreme Court agreed. How is that not theft?🤷🏾♂️
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