Bitcoin Price Soars To $13,000 In Desperate Zimbabwe

We noted in June that Zimbabwe's cash crisis continued unabated.

Those awaiting cash transfers at a bank may wait a month to be cleared and, even then, the transfer may be refused.
The Standard, Zimbabwe’s leading Sunday newspaper, ran an article at the time entitled, “Black market thrives, as banks run dry.”
Some highlights from that article:

Quote :: HARARE’S Road Port has become the unofficial bank of last resort, never short of cash, no queues and a multicurrency platform. The money market at this busy bus terminus now plays the role that the formal banking sector has failed. It is effectively making a mockery of the Reserve Bank of Zimbabwe (RBZ).

This points to the nature of black markets. They thrive based upon fulfilling an existing need, not upon government control. They therefore replace whatever services the official market fails to provide.

More: http://www.zerohedge.com/news/2017-11-15/bitcoin-price-soars-13000-desperate-zimbabwe

:yee haw:
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“The state calls its own violence law, but that of the individual, crime.”-- Max Stirner
"Remember: Evil exists because good men don't kill the government officials committing it." -- Kurt Hofmann

Bitcoin Price Soars To $13,000 In Desperate Zimbabwe

Bitcoin Price Soars To $13,000 In Desperate Zimbabwe

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