In any event, some of the lessons to be learned from Zimbabwe ’s experience include:

  1. Early hoarders profited the most later when they sold their goods. It is better to keep your financial resources in hard assets than in liquid form in the bank.
  2. People with their traveling papers in order could leave the country.  About half the country’s population left in search of work and a stable economy.
  3. People remaining behind use foreign currencies whenever possible and purchase goods from people who travel outside the country and smuggle goods back into the country.
  4. People without foreign connections became (or were already) lower class and these constitute the majority of those who did not leave.
  5. 70% of the people who left were professionals (clerical staff, teachers, nurses, doctors and academics) and 30% were not (ex-house maids, asylum seekers, etc).  Many of the remaining people rely on money sent to them by the people who left or they somehow work in the underground economy or profit from exchanging foreign currency.
  6. At some point, international money transfers become illegal. Control of the money is the name of the game. People who try to circumvent the government’s control of money are deemed enemies of the state. Survival of the state becomes paramount. Individual rights (and lives) are trampled and fall by the wayside.
  7. Populist policies are just for show and serve only to impoverish a country.

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