After Years Of Reckless Lavish Spending By Robert Mugabe And Wife Grace Mugabe Zimbabwe Is Running Out Of Money While The Poor Go Hungry

 

Robert Mugabe and Grace Mugabe

In past Judiciary Report articles, such as on January 20, 2011 "Zimbabwe's First Lady Spending Money Like It's Water", the site denounced and warned against the lavish spending of Zimbabwe President, Robert Mugabe and his wife, Grace Mugabe. Using their nation's oil and gold riches, the couple took six figure shopping trips, bought luxury vehicles and built lavish mansions, which featured expensive furnishings and amenities, such as gold toilets and crystal chandeliers. 

This is one of my pet peeves, world leaders using state money to live in absolute luxury, while the people of their nations starve and go homeless. It is not right that a man is peeing in a gold toilet, while the poor in his nation "don't have a pot to p*ss in" as the phrase goes.

A new report issued a week ago indicates Zimbabwe is running out of money. One is not surprised. The Mugabes have misappropriated a few hundred million dollars that could have gone to feeding, clothing and housing the poor, as well as educating the country. Low income housing and newer hospitals could have been built as well. Low interest rate loans could have been issued to Zimbabweans to start small businesses to pull their families out of poverty. 

 

The lavish dining room in one of the $26,000,000 palaces Grace Mugabe built with the people of Zimbabwe's money, despite the fact there are high poverty levels in the country. There should be a law against such financial misappropriation of government funds. So many poor people could be fed, clothed and housed selling the Mugabe mansions bought with state funds. 

Over a decade ago, I saw a fascinating documentary on micro-loans issued to low income people in developing nations to start small businesses. It worked and they paid the loan money back. Some people who received micro-loans started small businesses that specialized in things such as selling and fixing bikes (in third world nations that heavily depend on biking as a mode of transportation). Some made clothes and other textiles by hand and sold them to the public. Some invested the loan money into agriculture, buying seeds to plant crops and raised chickens. 

A few months ago, I read an interesting article about Bill Gates, who has been working through his foundation to help poor people in places such as Africa. Gates stated if he was poor, he would buy a chicken, as they lay eggs that in turn produce more chickens and eggs that can be sold. Good turn over and a great idea for people in impoverished regions of the world.

Low cost housing with solar panels and water tanks (to catch rain water), communal wells, small vegetable patches in backyards, as well as chicken coops to raise chickens, could go a long way to helping poor people around the world. It is possible, but some nations' leaders, such as Mugabe, misappropriate money that could be used for such endeavors.

World leaders, especially in third world nations, which usually have a higher poverty rate, need to help the poor. There are small things that can be done to set them on the path to financial stability. Global healthcare also needs to improve. We need a stronger universal standard of care in the world, especially the third world, to address the problems facing the poor. Everybody deserves good health care.

 

STORY SOURCE

As Zimbabwe's money runs out, so does Mugabe's power

Fri Nov 25, 2016 | 10:04am EST - In Zimbabwe, where worthless $100 trillion notes serve as reminders of the perils of hyperinflation, President Robert Mugabe is printing a new currency that jeopardizes not just the economy but his own long grip on power. Six months ago, the 92-year-old announced plans to address chronic cash shortages by supplementing the dwindling U.S. dollars in circulation over the past seven years with 'bond notes', a quasi-currency expected at the end of November. 

According to the Reserve Bank of Zimbabwe (RBZ), the bond notes will be officially interchangeable 1:1 with the U.S. dollar and should ease the cash crunch. The central bank also promised to keep a tight lid on issuance. After a 2008 multi-billion percent inflationary meltdown caused by rampant money-printing, many Zimbabweans are skeptical. The plan has already caused a run on the banks as Zimbabweans empty their accounts of hard currency. Internal intelligence briefings seen by Reuters raise the possibility that the bond notes, if they crash, could spell the end of Mugabe's 36 years in charge... 

A Sept. 29 Central Intelligence Organisation (CIO) report revealed the powerful army was as unhappy as the rest of the population with the new notes and had told Africa's oldest leader to "wake up and smell the coffee". "Top security officers have told Mugabe not to blame them if Rome starts to burn," the report said...

http://www.reuters.com

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Beware Of Investment Scammers Who Prey On The Public

There are many legitimate investment companies in the world dedicated to growing people's wealth. However, there are some who are individuals secretly operating as thieves, fraudsters and con artists. They sell the public a dream and use their own lives as a so-called example of how you can achieve wealth. They prey on the public's desire for a better life and financial stability. They show off their luxury home, vehicle and designer clothes as proof they are good with money and can be entrusted with yours. However, some are using investor money to pay for the luxury items they flash to the public and are living on maxed out credit cards.

When you invest with a scammer, easy money may roll in at first, but if it is a fraudulent investment scheme, you will get back far less than you put in. Additionally, a situation could arise where prosecutors sue to get back profits you were given that you were not entitled to as the whole thing was a scheme, whether you had knowledge of it or not. Then you will require a lawyer and accrue attorney's fees to get yourself out of the legal mess. Therefore, properly research anyone or company you choose to invest with. Check with regulatory agencies in your nation to ascertain if they are in good standing and lawfully operating. Do internet searches for complaints from consumers. Make sure they have a good reputation before you entrust them with your money.

Be careful investing your money with friends. Some lack the expertise and understanding of the financial markets to truly bring you a good short term and long term return on your investment. If you are going to make a sizeable investment, which is risky, it is better to invest with wealthy companies that have a proven track record (because if they make reckless choices, which is not the norm, you can sue and there would likely be something you can recoup from their assets). However, at the end of the day, when you invest, you must remember, there is no guaranty you will make money and you could lose all the cash you've invested. Choose wisely.

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Young Money Becoming Broke Money As Creditors Sue Lil Wayne And Company

Young Money

For years Cash Money Records, established in 1991 and its spin off, Young Money Entertainment, founded in 2005, have lived lavishly in the hip hop world, buying expensive mansions, cars, jewelry and clothes. The trappings of wealth became apart of their image. The rap stars fronting the outfit, Birdman (Bryan Williams) and Lil Wayne (Dwayne Carter) spent money like it is water, in a flashy show of wealth that strengthened their appeal in the rap world among select audiences. 

Lil Wayne

However, all is not well with the companies' finances. Years of excessive spending and unlawful financial dealings have caught up with the company. Both labels have lost lawsuits for breach of contract. There are also many copyright infringement lawsuits against Cash Money and Young Money, filed by famous songwriters, producers and publishers, as well as up and coming talent who contend in court they were ripped off. 

Birdman

The rap collective is facing fresh lawsuits filed by creditors for millions of dollars in debt they have defaulted on, with more claims on the way. An aviation company has sue Young Money for $1,000,000 in unpaid bills, over a customized Gulfstream private jet that runs $55,000 per month. Lil Wayne lost a lawsuit against Quincy Jones III and was ordered to pay him $2,200,000 for blocking the release of the documentary "The Carter 3" leading to a loss in profits. Wayne is also facing a lawsuit for $250,000 over the domain name Young Money, after failing to pay the remaining balance on the agreed to fee of $600,000. 

Nicki Minaj

Exacerbating their financial trouble is the fact Birdman, 45 and Lil Wayne, 31 have purchased lavish mansions in Miami for millions of dollars and made expensive upgrades to the properties in trying to live like the fictional 1980s Miami movie character Tony Montana from their favorite film "Scarface" (thankfully for me the Golden Girls, also set in Miami, was my favorite show when I was a kid in the 1980s and it costs nothing to live like them LOL). 

Mayweather's Money - A Break Down Of His Massive Spending That Could Make Him Broke

Floyd in his bedroom that has suede walls

Undefeated boxer Floyd Mayweather has made an estimated $200,000,000 from fights in the ring.  His most recent big payday a few months ago, netted him $40,000,000, for the fight against Canelo Alvarez. Mayweather proudly displayed the $40,000,000 check online and immediately began a huge shopping spree.

 

Mayweather owns several million dollars worth of luxury vehicles

Mayweather bought his and hers sports cars valued at a million dollars. He also purchased diamond watches and chains for himself and his gold digging fiancée Shantel Jackson, valued at over $250,000. These items add to other extravagant purchases Mayweather has made, such as $1,000,000 in Hermes handbags, which he proudly displayed in an Instragram photo on social networking.

Mayweather displaying some of his wealth on Instagram

Mayweather has also spent several hundred thousand dollars on other girlfriends, such as Queen Princess Love who used then betrayed him for rapper/reality star Ray J. He spends significant sums of money on a large entourage, who travel and dine everywhere with him, staying in  lavish accommodations.

Floyd's $1,000,000 in Hermes Birkin handbags he uses to catch women (LOL). On Instagram he proudly displayed the bags with a message stating "F*** with me you know I got it #hermes #birkin"

Mayweather also purchased several other luxury vehicles valued at over $3,000,000. His G4 private jet comes with a price tag of $30,000,000, with $250,000 in yearly refueling costs, in addition to storage and maintenance fees. Mayweather owns several lavish homes in America, valued at over $15,000,000, whose mortgages, insurance, taxes, utility, association and maintenance fees are massive. His homes are stocked with millions in lavish furnishings, gadgets and decorator touches, such as suede walls.

 

Mayweather in his G4 private jet

Mayweather has four children by two women and pays sizeable monthly sums in child support, maintaining two lavish households (it's good that he is taking care of his children). He even gave one of the mothers of his children a $500,000 diamond ring for her birthday.

 

Mayweather in his G4 private jet with two members of his entourage

According to GQ magazine, Mayweather spends $12,000 per week at his favorite Japanese restaurant. As delicious as Japanese food is, that's $48,000 per month, $576,000 per year at the same restaurant. This is in addition to other restaurant and food bills Mayweather racks up, plus personal chefs at his home and that of the mother of his children. He spends roughly a million a year on clothes for himself and his women as well. In short, Money May is running up some serious bills.

 

Floyd Mayweather's his and hers purchasing sprees is putting a dent in his finances

With all of Mayweather's wild spending, reminiscent of heavyweight champion Mike Tyson, who blew threw $150,000,000 in the 1980s and 1990s, ending up broke for a time, until he made a comeback and began spending more wisely, is Floyd headed for financial disaster.

More his and her purchases by Mayweather for himself and Shantel Jackson, who's not even his wife (Mayweather is getting played!) 

Mayweather has spent millions on fiancée Shantel Jackson, who cheated on him. They've been together for 4-years, engaged for three and still haven't gotten married. They are clearly not compatible. Does she even love you? No. Do you even love her? No. I think you love how she looks (and looks fade), which is a terrible foundation to build a relationship or marriage on, because that will not last.

Shantel Jackson, a very materialistic rumored former call girl, is used to sleeping with men for money and gifts such as jewelry and designer handbags

Not to mention, you're still harboring feelings for the mother of your children, Josie Harris, who by the looks of it is your true love that you keep going back to sexually and emotionally. That's who you should marry.

That's clearly who you love. At least Harris loved you when you were broke and unknown. She was with you when you had nothing to give her and no fame for her to bask in. Yet, she dated you. That's real love, not materialistic women you have to buy, like Jackson and Queen Princess Love, who vicariously throw your name around on Instagram and Twitter for attention.

Mayweather's $6,500,000 in watches

Millions more in Mayweather jewelry

Mayweather may think anyone who writes about his wealth wants his money, but that's not it. I don't want Mayweather's money nor am I resentful of his wealth. At the end of the day, to see someone come from an impoverished background, work hard to amass a sizable fortune, then get taken advantage of by gold diggers and hangers-on is sad.

Floyd Mayweather's beautiful kids with Josie Harris

So is engaging in excessive spending, which reminds me of others who've walked that same path and lost everything. No decent person would want to see that happen to another. Not to mention Mayweather has kids. What's going to happen to them if he goes broke. They need a trust fund. Furthermore, these displays of materialism and constant boasts about money are not good for children to witness, as it will give them the wrong impression about life, love and money.