'Mealie Meal Coupons To Become A Tradable Currency, Stronger Than The Zim Dollar'3 years ago
United Kingdom-based constitutional law expert and political analyst Alex Magaisa has warned that the mealie meal coupon system set to be introduced by the government to control the allocation of the product is open to abuse by politically exposed persons (PEPs).
He describes the PEPs as business elites who are close to the ruling establishment and have access to the largesse that the state provides and take advantage of it for personal gain.
Writing on his blog, Big Saturday Read, Magaisa says:
… coupons are set to become a new tradable currency. Without a name or mark identifying a specific holder, roller meal coupons will be like bearer cheques or shares.
All you need with a bearer instrument is possession. Whoever possesses it is entitled to what the bearer instrument represents, be it shares or money and in this case, roller meal.
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In short, a roller meal coupon is a form of money backed by the promise to pay roller meal, rather like it were a piece of paper money backed by gold.
Given the scarcity of roller meal, the maize meal coupon is set to become one of the most coveted currencies – far more valuable than the Zimbabwe dollar introduced last year.
Magaisa urged the government to come up with a way to prevent the negotiability of roller meal coupons so as to keep them out of the hands of the corrupt elite.