Tuesday, November 14, 2017

Zimbabwe Coup Underway; US Tells Its Citizens in the Country to Shelter in Place

Armed Zimbabwean soldiers and military vehicles were seen in the streets of Harare.
A coup appears to be underway in Zimbabwe

The U.S. Embassy in Zimbabwe is urging American citizens to "shelter in place" as troops have
been seen in the streets of the capital amid rising political turmoil surrounding the country's 93-year-old president, Robert Mugabe, reports FOX News.

The Associated Press is reporting that three explosions were heard near the University of Zimbabwe campus while armed soldiers assaulted passers-by in the early Wednesday morning hours. Other soldiers were seen loading ammunition near a group of four military vehicles.

Mugabe last week fired Vice President Emmerson Mnangagwa and accused him of plotting to take power, including through witchcraft. Mnangagwa, who enjoyed the military's backing and once was seen as a potential president, fled the country and said he had been threatened. Over 100 senior officials allegedly supporting him have been listed for disciplinary measures by a faction associated with Mugabe's wife, Grace.

Zimbabwe has been regularly wracked by hyperinflation.

Steve Hanke has reported:
In 2008, Zimbabwe suffered the second most severe episode of hyperinflation in recorded history. Zimbabwe’s annual inflation rate peaked in November 2008, reaching 89.7 sextillion (10^23) percent. Well, Zimbabwe is experiencing hyperinflation again today. Zimbabwe’s annual inflation rate is currently at 348%. Zimbabwe has officially experienced the 58th verified episode of hyperinflation on record...

When President Robert Mugabe’s party, ZANU-PF, regained control in Zimbabwe in 2013, government spending and public debt surged, resulting in economic instability. To finance its deficits, the government created a “New Zim dollar.” The New Zim dollar is issued at par to the U.S. dollar, but trades at a significant discount to the U.S. dollar. The money supply, as a result of the issuance of the New Zim dollar, exploded in Zimbabwe, and so has inflation...

The New Zim dollar is rapidly becoming worthless, and with that, hyperinflation has yet again reared its ugly head.


Zimbabwe military officers read an address live on state TV in the early hours of Wednesday, saying President Robert Mugabe was safe and that the country was not undergoing a coup.

"It is not a military takeover of government," said one general reading a statement. "We wish to assure the nation that his excellency the president... and his family are safe and sound and their security is guaranteed."

The army said it was "targeting criminals around" Mugabe and urged people to remain calm.


Via The Telegrapgh:

Gunfire erupted near Mr Mugabe's private residence in Harare in the early hours of Wednesday, a witness told AFP.

"From the direction of his house, we heard about 30 or 40 shots fired over three or four minutes soon after 2.00 am," a resident who lives close to Mugabe's mansion in the suburb of Borrowdale said.


The British embassy says the situation is uncertain and that there are "reports of unusual military activity" in the capital, Harare.


  1. God do I hope Mugabe finally gets whats coming to him

  2. https://tradingeconomics.com/zimbabwe/money-supply-m1

    It’s interesting when you compare that graph to the one above. The really dramatic spike in money supply occurred in November/December 2015, but it didn’t translate into severe price inflation for like 9 months.