The Science Of ...

Economist and author of ‘When Money Destroys Nations' on the beleaguered rand

(Also read "Author of When Money Destroys Nations cautions SA to heed Greece’s warning".)

Philip Haslam is an economist, an economic advisor and co-founder of the Monetary Justice Project, a think-tank on currency reform.

He is also the author of When Money Destroys Nations, a book about Zimbabwe's hyperinflation, why money printing threatens countries globally and how you can protect your future.

The Money Show’s Bruce Whitfield interviewed Haslam for his weekly “The Science Of” feature.

Scroll down for quotes from the audio below.

Countries around the world are printing money on a massive scale.

Philip Haslam

You can’t create money out of nothing without consequences.

Philip Haslam

Printing money is an extremely easy way to pay for goods and services. The incentives are there and the consequences aren’t immediate.

Philip Haslam

There are four fundamental drivers of an exchange rate.

Philip Haslam

South Africa’s risk profile has changed radically and fundamentally.

Philip Haslam

Government is spending, but it’s all on a debt basis.

Philip Haslam

Zimbabweans I’ve interviewed have an understanding of money far better than anyone else I’ve met.

Philip Haslam

We’re investigating establishing a Bitcoin point-of-sale system in Zimbabwe.

Philip Haslam

Anyone who says they know where the rand is going is a fool. There are, however, certain critical drivers.

Philip Haslam

There are certain economic fundamentals that we saw in Zimbabwe that apply to all countries.

Philip Haslam

To help the rand Government needs to support exporters such as the mining industry.

Philip Haslam

We need to import less.

Philip Haslam

We can increase interest rates to help the rand.

Philip Haslam

Purchasing Power Parity indicates that South African prices are too low.

Philip Haslam

I think the value of the rand will be lower at the end of the year.

Philip Haslam

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