“Catching Strays”: Billionaire Elon Musk Warns US Dollar Could Plummet Like The Zimbabwe Dollar

American billionaire Elon Musk, the world’s richest man, has eerily predicted that the US dollar could decline like the Zimbabwe dollar.

How Zimbabwe Has Smashed Records In The Currency World

Zimbabwe’s currency woes, which took a sharp turn in 1997, have been a subject of unfavourable publicity globally. The country has had the Zimbabwe dollar, bearer’s cheques, Traveller’s cheques, Agro cheques, bond notes and bond coins, among other tenders.

In April, Reserve Bank of Zimbabwe Governor Dr John Mushayavanhu introduced a new currency, the Zimbabwean Gold, which is gradually creeping into people’s pockets.

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2008 heralded the record-breaking phase in the country’s currency drama. At worst, former RBZ Governor Dr Gideon Gono flooded the market with bank notes as high as Z$100 trillion. In mid-November 2008, US$1 was worth an estimated Z$2,6 trillion. By then, the public had already embraced the US dollar, South African rand and the Botswana pula for convenience.

Billionaire Elon Musk Warns US Dollar Could Plummet Like The Zimbabwe Dollar [Image: LSE]

The dramatic old Zimbabwe dollar notes are a global hit, and people frequently bring them up in Twitter wars with Zimbabwe. Some Japanese anime and Hollywood movies also drag the country’s currency.

The man with the most wealth in the world has become the latest global figure to taunt the Zimbabwe dollar.

Elon Musk Warns That The US Dollar Is Rushing Down The Zimbabwe Dollar Route

Musk, whose internet company, Starlink, got a license to operate in Zimbabwe, considers the old Zim dollar the best example of the worst currency.

The Tesla owner, worth US$251 billion, claimed the value of the US dollar continues to decline. He posted a graphic ranking a US coin atop, an old US$1 note on second, the newer US$ note on third, and the 50 trillion Zimbabwe dollar note in fourth place.

Musk asked, “Where are we with dollar value destruction, you might ask?”

He indicated that the US dollar is about to match the Zimbabwe dollar standard. Elon Musk promotes Dogecoin, a digital currency that has attracted immense interest and speculation in the cryptocurrency market.

Where are we with dollar value destruction, you might ask? pic.twitter.com/0LD8OggFqu

— Elon Musk (@elonmusk) July 22, 2024