- Doug Casey’s 4-Part Plan https://t.co/YUVfMVLK89
— Lew Rockwell (@lewrockwell) May 21, 2016
Doug Casey’s 4-Part Plan to reform Zimbabwe economy. Perhaps a recipe for the rest of the developed world too.
I think there are at least four areas where we can advise Zimbabwe on improving its economic situation and status in the world community, pursuant to U.S., EU, AU, and international law. And we can execute these things quickly:
- A program of economic citizenship. We believe that a properly executed program could generate several hundred million dollars per year of income. Plus, increase the prestige and acceptability of the Zimbabwe passport.
- The establishment of a 100% reserve gold bank. This bank will reform Zimbabwe’s reputation in the economic world by being totally solvent and liquid through using gold money, will be acceptable internationally, and will preserve the savings of Zim citizens. Strict separation of demand (checking) and time (savings) deposits, and 100% (as opposed to fractional) reserves, would make it unique in the world. We believe it would draw many, many billions of dollars of capital into Zimbabwe.
- The establishment of a People’s Empowerment Corporation (PEC) to maximize the benefits of government assets to individual Zimbabwe citizens. This entails taking 100% of all government assets—parastatals, land, etc.—and putting them into the PEC. Although they theoretically belong to the people, these are now dead assets. Actually, they are now liabilities that cost the government huge money every year.Instead, the PEC would be run as a business, generating profits. Perhaps 70% of the shares should be distributed pro-rata to every citizen. Perhaps 10% placed in a trust for the next generation of Zim citizens. Perhaps 5% taken public in major markets for perhaps $5 billion to provide capital. Shares in PEC will give citizens capital and a personal stake in the success of PEC.
- Encourage direct foreign investment by major corporations and wealthy individuals worldwide. This will take some economic reforms in addition to those mentioned above. But then, it will be possible to send ambassadors to the top corporations of the world, encouraging them to come here. This will result in immense additional profits for the PEC and rapid development.
In brief, these plans will put Zim on the front cover of every newspaper in the world, in a favorable light. And would lead to it quickly becoming as successful as Singapore or Hong Kong.