Print more money!

[Retired]

Are we heading into that direction?

A story is told of a former Governor of Bank of Uganda who was killed after defying orders from President Idi Amin to print money. It is reported that Joseph Mubiru, was summoned by Amin and asked to release money urgently. The governor told Amin that the treasury did not have money
By Arthur Baguma

A story is told of a former Governor of Bank of Uganda who was killed after defying orders from President Idi Amin to print money. It is reported that Joseph Mubiru, was summoned by Amin and asked to release money urgently. The governor told Amin that the treasury did not have money. The incensed Amin said if there was no money he should print it.

But the governor advised the president that printing more money would make it useless and its value would be as low as that of toilet paper. Mubiru further argued that printing more money would only worsen the inflation problem in the country.

It is said that Mubiru’s statement angered Amin and he ordered for his killing. Mubiru’s death forced many Bank of Uganda workers to flee into exile including the former president general of the Democratic Party, John Ssebaana Kizito.

 

[riara]

Governor was supposed to obey the president's order not otherwise

 

[Ngongo]

Governor was supposed to obey the president's order not otherwise

Haaaa haaaa haaa

 

[Missile of the Nation]

Let the Son of Africa Iddi Amin rest in peace
Too much propaganda against him.

 

[bernardp]

Governor was supposed to obey the president's order not otherwise

The president's order was ill advised. However, in a dictatorship where good governance, laws and constitutional order are absent, there is no other way. The easiest thing he should have done was to print the money and find ways to flee to a safe country.

 

[Masue 1]

The only way was to print more money to make people happier...

 

[gunz]

Printing more money aint a solution. It led to inflation. Scarcity is among the quality of good money.

 

[balimar]

Printing more money aint a solution. It led to inflation. Scarcity is among the quality of good money.

Not scarcity of it rather it suppose to be the relative scarce.
Just a point of correction.

 

[Melvine]

Printing more money aint a solution. It led to inflation. Scarcity is among the quality of good money.

This is typical HGE's way of approaching Economic question, nimecheka sana...ila upo sahihi.

 

[Arien]

chapisha herra zaidi...!!!{in Jiwe's voice}

 

[corasco]

chapisha herra zaidi...!!!{in Jiwe's voice}

ha ha ha jiwe hadi huku