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Mufti Menk

Zimbabwean Trillionnaire!

Mufti Menk

Muslim Central

Society & Culture, Religion & Spirituality, Islam

4.83.1K Ratings

🗓️ 22 May 2023

⏱️ 6 minutes

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Summary

Transcript

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0:00.0

This audio is brought to you by MuslimCentral.com.

0:04.3

We're talking about wealth and, you know, much of how much has been generated, but going back to Zimbabwe,

0:11.0

because when I think Zimbabwe, everybody knows about the $1 trillion bill.

0:15.3

I actually want to try to get hold of one, because I have one in my bag if I had I known other books.

0:21.6

But it's just fascinating to kind of hear the story of how that all transpired and hyperinflation,

0:27.9

and how people, you know, I hear stories from family about how to carry bags of money to get just in bread or something like that.

0:35.2

That's right.

0:35.7

How was it? You, because you were there at that time.

0:38.4

Firstly, the biggest note we've ever gotten to is $100 trillion.

0:42.6

And that $100 trillion is very interesting because what happened is Zimbabwe had a problem.

0:52.3

The problem, the difficulty was a disagreement that they had with Britain regarding the land.

0:57.7

And so Britain was supposed to return the, or pay for the land, you know, pay for the land that they had given their own people

1:06.2

when they came in as colonialists and so on.

1:09.3

So the government says, look, instead of getting the people out of the land, pay us for the land, and that's it.

1:13.5

But unfortunately, they didn't end up paying.

1:15.8

Whatever the political side of it was, but as a result of all that, there were sanctions against Zimbabwe

1:23.5

because the government went out and started taking back this land to say, listen, you guys didn't pay up, you got to vacate.

1:28.4

And so on, I'm trying to word it simply.

1:31.6

And the economic crisis resulted in the dollar, the Zimbabwe dollar, which by the way was stronger than the pound in 1980.

1:40.0

It was stronger than the pound in 1980.

1:43.7

By the time the year 2000 came, it started crashing.

1:46.5

And free fall, free fall meaning it was just because of sanctions and because we found ourselves with no foreign currency reserves and so on.

...

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