‘Miracle money shrinks economy’

ANY currency put into circulation without legal sanction would have negative effects on the economy and the general social life of Zimbabweans, financial experts have said.

Report By Jennifer Dube

The experts were reacting to news that popular preacher and Spirit Embassy Church founder, Uebert Angel, on New Year’s night in Harare performed a miracle which saw hundreds of his followers incredibly receiving money.

Angel had reportedly performed a similar miracle in Botswana a few days before.

But financial experts this week said if it was true that Angel was injecting money into circulation through miracles, the money would affect the economy.

“From a financial perspective, any currency produced without the legal sanction of the relevant state or government is counterfeit money or imitation currency,” financial analyst, Farayi Dyirakumunda said.

“Some of the finest counterfeit banknotes are called super dollars because of their high quality, and likeness to the real thing.”

He added: “The authorised issuer of US currency is the US treasury’s Bureau of Engraving and Printing. the production or using of counterfeit money is therefore a form of fraud or forgery.”

Dyirakumunda said the immediate negative effect of imitation currency included losses that would be incurred when people are not reimbursed for counterfeit money detected by banks, even if it is confiscated.

“The other ill-effect that may arise in a high prevalence of counterfeits is a decrease in the acceptability of paper money and an unauthorised artificial increase in the money supply, which as we know, is inflationary,” he added.

Another economist, David Mupamhadzi, laughed the claims off, but was quick to warn about the negative effects of having an increase in the amount of money in circulation, without a tallying improvement in production levels.

He said although the idea of miracle money was absurd, this could fuel criminal activities, as “everyone” feels they have the power to produce money.

“On a macro level, we are concerned about this said influx of funds, whose sources are not clear,” Mupamhadzi said.

He said if money was put into circulation without being accounted for by the central bank, it could have a serious implication on the money supply growth.

“There is a reason why money is centralised and has security features put on it,” he said.

“But when we have money flying from all corners, we risk opening floodgates of counterfeit money, which has very negative social and economic implications.”

Mupamhadzi said if indeed it was true that some people were injecting money into the economy without a tallying growth in production, the country should brace for shortages of products, which is typical in an economy where there is too much money in circulation.

He added that even if the US dollar was not originally Zimbabwean, the central bank should still be accountable for both the inflows and outflows of money in the country.

“You need to warn your readers not to believe such claims,” said renowned economist, John Robertson.

“That is a major fraud which makes use of well-trained performers who are planted in the crowd to convince others to join the church and make generous contributions with the hope they will be enriched.”

Police spokesperson, Andrew Phiri, said the police do not comment on spiritual matters but would react in cases where existing laws are breached.

Critics are jealous, poor people: angel

Reports last week said Angel blasted those who are questioning his miracles, including some church leaders who came out guns blazing criticising him, saying they were poor people who are suffering from jealousy.

He reportedly said if people could not explain how Peter [Jesus’ apostle] found money in the fish’s mouth as instructed by Jesus, then they could not question how miracle money was found.

He said even the bank had no records of how the fish found the money.

Angel reportedly told his congregants that his bank account had been credited with large sums of money on several occasions after praying because he believed in God.

He would instruct automated teller machines to give him cash despite the fact that his bank account was in the negative balance, he claimed.

49 Responses to ‘Miracle money shrinks economy’

  1. Mweni Tafara January 6, 2013 at 12:57 pm #

    The problem with tithe merchants who feign creating money is that they forget micracles are usually done to solve problems among people such as illness, hunger and shelter.

    A more informed tithe merchant “prophet” would have simply solved hunger by providing food or shelter to the needy without submerging themselves in these currency legalities.

    Have readers looked at the general CV of these “prophets”? Juniour school drop-outs who would not qualify for janitorial work.

    • ttt January 6, 2013 at 1:02 pm #

      mweni uri dofo

      • Mweni Tafara January 6, 2013 at 2:06 pm #

        True, anything else that you want to contribute perhaps or “mweni uri dofo” is the zenith of your intellect? Or the best your brains could suggest.

        • tafamutekwe January 7, 2013 at 3:34 pm #

          Why dignify such uninformed expletives with a reply?Remember that it is these same die-hard cultist zombies like ttt who go on to buy another man’s used underwear for a cool 1000 US dollars because according to their warped and brainwashed psyches they believe he is the new Messiah.Even the US treasury will not be bothered to investigate the miracle mambo- jumbos emanating from superstitious Zimbabwe. Whatever happened to the female rapists craze of a few months ago?

      • tsotsi January 6, 2013 at 2:16 pm #

        iwe ndiwe dofo kuvhuna penzura yeanogona taura zvakowo haikona kungotuka

      • the truth January 7, 2013 at 6:37 am #

        ttt you are the idiot. Why do these so called men of god not create food: beans, sadza, cooking oil for the poor or create school books for the needy and clothes…the reason is bcoz they have no heavenly powers to do that. MATSOTSI, Makandiwa, T B Joshua, and this Angel guy are all Con Artists. RUBBISH.

        • John January 7, 2013 at 10:09 pm #

          Matsotsi vaba mari yako here, many of their followers are very wealthy my friend worry about your own money!

          • KEKEKE BOOM January 9, 2013 at 10:08 am #

            So if many of their followers are wealthy why then do they need money stuffed into their pockets? Wataika ipapo, after money has been stuffed into their pockets what do they go and do with it? Kuno hura and drink booze and buy food and clothes, show me one person who built a house with that money. In fact show me one person who saw that miracle, come out in the open and say I HAD $1 THAT DAY AND THEN SUDDENLY MY POCKET WAS FULL OF WADS OF $100 BILLS OR $1000. HAPANA KUNYEPA CHETE THERE IS NO SUCH GOD WHO GIVES PEOPLE THINGS THAT ARE MEN MADE!!!!!
            BOOOOOOM!!!!!

  2. DaBrown1 January 6, 2013 at 1:30 pm #

    Truth of the matter, miracles can never be measured on a natural/physical pane.. And if you are the one who received the money in your bank account, it will not matter what economists and other educated specialists have to say. A miracle in your life changes how you see things, completely. I was not there when people received the money, but i will not doubt because i know that with God all things are possible. Saka the wisest thing we can do is pray for our nation for wisdom and an understanding of the times, to know that which we can do to take our beloved Zimbabwe to a better life for all.. My prayer is that God may raise in Zimbabwe men like the ones in the following verse:

    1Ch_12:32 And from the sons of Issachar, men who had understanding of the times, to know what Israel ought to do……

    • Mweni Tafara January 6, 2013 at 2:04 pm #

      Ndoda, the point being made in monetary terms is that paper money without gold backing is not a miracle but an economic disaster which causes more problems that the ones intended to be solved.

      A better monetary miracle would be to deliver gold ingots to RBZ or to the congregants but you know the problem with Juju, it does not make gold because gold is spiritually more powerful than Juju but yes Juju can make bank notes like anyone can print them because they are equal to nothing.

      You believe a thing that happened in your absence? Nowonder Abantu are the cheapest commodity to dupe.

      • john ndebele January 6, 2013 at 3:22 pm #

        He said if money was put into circulation without being accounted for by the central bank, it could have a serious implication on the money supply growth.

        “There is a reason why money is centralised and has security features put on it,” he said…. This is very strange because as far as I am concerned most of the money circulating in this country is not centralised nor is it coming through the central bank experts estimate that an unaccounted plus or minus US $3B is circulating in the informal sector. Though I will not comment on the veracity or otherwise of the miracle money let the so called experts not use different languages and measures to suit their opinions. Most of the money that is currently in circulation has not come through official US bank process.

        • KEKEKE BOOM January 9, 2013 at 10:12 am #

          That is why the $ buys so little in Zimbabwe and if more of that money flows in through dubious miracle it will only get worse. You can not say because there is already unaccounted for money in circulation let more come in.

        • TB January 10, 2013 at 10:07 am #

          John if we say three billion is not centralised or not coming through the central bank we will be lying…. The central bank here is the Federal Reserve not the RBZ. After being pumped into circulation by the FR of the US the RBZ is not controlling it. Wangotadza kunzwisisa the economics involved

      • john ndebele January 6, 2013 at 3:25 pm #

        He said if money was put into circulation without being accounted for by the central bank, it could have a serious implication on the money supply growth.

        “There is a reason why money is centralised and has security features put on it,” he said…. This is very strange because as far as I am concerned most of the money circulating in this country is not centralised nor is it coming through the central bank experts estimate that an unaccounted plus or minus US $3B is circulating in the informal sector. Though I will not comment on the veracity or otherwise of the miracle money let the so called experts not use different languages and measures to suit their opinions. Most of the money that is currently in circulation has not come through official US bank process.This is why we have soiled notes and cannot get change below US$1

      • Prince January 6, 2013 at 5:52 pm #

        Some of you guys sound like Form economics students. Injecting the US is not the same as injecting Zim $. If we get say $2 million of US$ without any corresponding increase in local production, we can actually use this money as FDI, thereby boosting our foex reserves which we can use to buy producer goods from other countries. But if the money was Zim $, that could spell disaster as that can fuel inflation as the money cannot be used to purchase foreign goods.

        • TB January 10, 2013 at 10:09 am #

          And the US federal reserve will be affected…. AS such Zim will be liable to fraud and forgery

    • tafamutekwe January 7, 2013 at 3:40 pm #

      Thank you very much sir.At least you were honest enough to admit that you were NOT there to witness this miraculous event.As for what you want to believe,it is your democratic right to do so.

  3. mhofu January 6, 2013 at 2:17 pm #

    investigate these cheats before they introduce fake money into the economy we should have the banks comment if people had credits coming from no where in their customer accounts

    • steve January 8, 2013 at 2:24 pm #

      the guy made a mistake by saying your account will be credited with huge sums of money, it shows that he does not even know the principles of accounting, where will be the corresponding debit entry be posted, this is rubbish!!

  4. mhofu January 6, 2013 at 2:28 pm #

    lets have practical miracles where we will have unlimited electricity,tape water,hospital medication, in the country

    • Vavariro January 6, 2013 at 3:09 pm #

      Taura hako mhofu. Why these miracles just target a few individiuals whom the prophet probably knows personally is an aspect that raises a few eyebrows. I’d want to give it a second thought if we took an individual from Deep down Manicaland and place him infront of this prophet to so that we can bear witness to this rather bizzar or intriguing event. Yet even if i witness the event i’d thereafter apply the principles of economics and accounting and henceforth come up with one conclusion. What a load of crap!! With an insight of the effects of Juju i’d hasten to say there is always a sacrificial lamb. Somewhere, somehow, someone is paying for this miracle cash.If i had a big fat account i’d check my money everyday becoz i’m convinced the Angelic Prophet is using his muti to debit the giver and crediting the reciever.Giver- You the unsuspecting Account holder—Receiver, Angels Prophet’s followers.

      • steve January 8, 2013 at 2:27 pm #

        U r very right, hazvi make sense, mishonga iyi, we are loosing a lot of kids, pple (man) are being raped, a lot of accidents, ko munoti its just coincidence here

    • tafamutekwe January 7, 2013 at 3:47 pm #

      Hear!hear!We also need our miracle prophets to visit drought prone areas and perform miracle rain making ceremonies!

  5. Rodrick NYIKAVARANDA January 6, 2013 at 4:35 pm #

    Lets hear from the Reserve Bank of Botswana.Botswana must trace the source of the 2.4million pulas which was given to the people after prophet Angel’s divine prayer. The ‘man of God’ comes from one of worst affected areas by drought and hunger ,ZAKA .Nhai wezhira wodyira Botswana isu dzangova zheve nezhara.Chipamha zviya zvako nevobgo. Our high commissioner should assist by engaging the batswana on this ‘miracle money’ so that we also benefit and be able to pay school fees for incentives for our children’s teachers.Remember Jesus’ words that a prophet is not respected in his hometown but somewhere else.

    • Wezhira January 6, 2013 at 6:21 pm #

      Wareva wezhira Chana cha tete chokanganwa kumusha. Zaka zhara yabaya tagozhegwa.

    • Terrence T. Bhebhe January 7, 2013 at 6:17 am #

      These so called prophets who are now behaving like masters of spiritual matters must not dupe people with financial miracles, isnt this the Satanism that we are talking about day in day out. Wezhira wareva wangu, ko itai zve iwo mamiracles enyu awa mupe vaBiti the 10 billion he needs to kickstart the economy tione. Dont waste our time you Angel uri n’anga iwe not a prophet of god. Uchamama kudenga iwe

  6. Gusht January 6, 2013 at 9:22 pm #

    Im not a fin expert but these so called experts are full of shit.not that l believe in this miracle money but if true its a blessing to zim coz we are in need of liquidity more than anything nd any amount of injection whether coming thru official or not is good for the economy. We dnt have a meaning monetary policy any more and our firms not producing busy importing so this whole business of demand nd supply not any issue. Most of the money is zim does not come thru the official so what are thse so called experts saying.for example SA has strict regulations whn sending money but we always send thru bus drivers among other ways. While we blame zanu pf for driving us backwards these kind of experts are also contributing but commenting and advancing the nation wrongly.if lm to judge these experts robertson’s comment makes sense.

    • LFC January 7, 2013 at 12:09 pm #

      Nevertheless, money supply still needs to be regulated my friend

  7. Candid January 6, 2013 at 10:19 pm #

    What happened to working hard to get a livelihood…this seed of praying for miracles to our simple day to day problems that has been sown can only lead to disaster…i rest my case lest i offend

  8. Masedzano January 7, 2013 at 4:04 am #

    Guys, spare a moment to think. God gave you the brains to think and apply them to unravel his mysteries. The trgedy is we are actually debating this issue which is clearly a lie. Simply put, you are lazy to read the bible on your own and pray to God that He gives you understanding of his will through scriptures. If you do that you will realise you do not need to rely on the so-called prophets because they are lying to the world, all for money (and perhaps fame). How can you believe useless miracles that do not glorify God. Jesus died for us, removing that pane that used to separate us from God. Now everyone can diectly interface with God through prayer because of the sacrificial death of Jesus. You do not interface with God through prophets but God has given everyone that means and ability to talk to him.
    Sei muchinyengedzwa?

  9. blaz wa blaz January 7, 2013 at 4:12 am #

    Is it not simply fraud to have mari in your account without a corresponding deposit.
    If an account reflects $50 000 balance when no record of a transfer or deposit is available that is fraud.
    Seriously how does one reconcile books with money from thin air.
    For the prophet, the fish could have picked a coin from the river bed and there are many ways a coin can get into a river.
    When Jesus multiplied food he did not defraud anybody. The leftovers were twelve baskets one for each disciple to take home not to open a supermarket.
    Jesus said; And these signs will accompany those who believe; in my name they will cast out demons, they will lay hands on the sick and they will recover.
    Nothing about paper money here,
    God can and does bless his people with riches but not dubiously.
    When the Jews left Egypt, the Egyptians gave them silver and gold.
    When Abraham went to Egypt, the Pharaoh gave him sheep, cattle, camels and servants.
    The widow of the oil is no different from finding an oil well today and drilling it.
    It is all legit, none of this inflated bank accounts.
    How do you get$1000 from a teller machine when an account has -$10 a minus balance without committing a crime.

    • Reflect January 7, 2013 at 11:32 am #

      we ve heard of money being made in wardrobes” nenyoka etc”,and houses and cars being bot off it…..why does that kind of money not affect the economy????

  10. KAYZ January 7, 2013 at 11:44 am #

    finacial expects kip out of spirtual matters.maita vatete.leave the prophets alone pane anodzwa Mwari pamuri.problem yenyu is u knw God from the bible nekuverenga.they see him,we talk to him he tells us wat to do.the prophet was told miracle money by God who do u think u are to go against GOD.SHUT UP

  11. KAYZ January 7, 2013 at 11:49 am #

    zimbos ur so called education maks u think u can comment on anything anyhow.shame on u seduces and pharises of this day and age

  12. Alfred January 7, 2013 at 12:44 pm #

    do not touch the annointed ones of God………do not judge……..God has the answer

  13. Thulani Mpofu January 7, 2013 at 3:54 pm #

    Gamaliel in the book of Acts of the Apostles urged restraint on the part of religious authorities and the general populace with regards to the emergence of a fervent group of followers of Christ, the Christians. He cautioned that if the new movement they were witnessing was not of God it would fade as had happened with another group of people who had arisen claiming to be authentic God followers. We are witnessing an unprecidented religious movement such has not been seen in the country ‘s history unless there are some in our midst who have witnessed something grander than this in our country’s history. I urge restraint when it comes to condemning these preachers lest people could find themselves fighting against God. If the concerned preachers are not of God, they will surely be exposed. Let us question to find an answer but not judge before we have full understanding. The Lord Jesus said those that are His shall be seen by their fruits. Let us delve into the word of God prayerfully and ask God for understanding, He will surely show us their true standing.

  14. justsaying January 7, 2013 at 4:06 pm #

    typical of zimbos dhizera paChinhoyi

  15. Thulani Mpofu January 7, 2013 at 4:31 pm #

    Moses threw his staff onto the ground and it turned into a snake, and like wise the magicians staffs turned to snakes. To prove potency, Moses’s snake swallowed hole the magicians snakes. Elijah challenged 450 prophets of Baal into a contest to see whose God would respond by fire and consume the sacrifice. Elijahs God proved true as He responded by fire after the prophets of Baal tried to no avail to conjure or elicit a response from their false God. These are just a couple of examples of God showing Himself as true and proving without any doubt which individuals were His true witnesses. Human reasoning will come to its wits end, this is a spiritual matter which can only be answered by prayer and much immersion into the word of God. Let exercise patience. God will show His hand without a doubt.

  16. Mboko January 7, 2013 at 5:45 pm #

    VaGono munotiiwo? Musha wenyu wakura.

  17. blaz wa blaz January 8, 2013 at 1:04 am #

    Hama let us not be unwise we must test all spirits, which means we have to apply a litmus test and see if whatever is happening is in harmony with the character of God as we know it through Christ, because there is an enemy with his own servants;
    For such men are false apostles [spurious, counterfeits], deceitful workmen, masquerading as apostles of Christ (the Messiah).

    And it is no wonder, for Satan himself masquerades as an angel of light;

    So it is not surprising if his servants also masquerade as ministers of righteousness. [But] their end will correspond with their deeds…2 Corinthians 11:12-15

    If the prophets are counterfeit is it not a surprise they make counterfeit money.
    Reinhard Bonnke of CFaN draws over a million people in a single crusade and has seen over 60 million people come to Christ in over 30 years of ministry.
    They have had so many miracles they admit its overwhelming but never have they spoken of God putting mari into their account or any another person. Food for thought!

  18. doctor tatenda January 8, 2013 at 8:01 am #

    friends l want u to understand somthn.there is food for the soul as well as our physical body(natural and spiritual)this miracle money is food fo the physical body/ reason why large multitude wil folow them.God is lookin fo the soul/ these prophets only preach food fo the physcsl body/prosperity gospel.this has nothing to do wit GOD.understand

  19. KEKEKE BOOM January 9, 2013 at 10:17 am #

    NAMATIRA MVURA INAYE CHIKOMANA VANHU VARIME VAGO KOWHA BECAUSE MARI WILL BE USED THE NEXT DAY AND PEOPLE WILL BE BACK AT YOUR CHURCH FOR MORE. JUST PRAY FOR THE ECONOMY TO BOOST THEN PEOPLE WILL GET JOBS AND LIVE THEIR LIVES. Why should they come to you to get money kusvikira rini uchiita that is that teaching people to worship GOD or just to be beggers?

  20. Zim January 9, 2013 at 10:41 am #

    If Angel wants a big following in his congregation, he must say and do things that draw multitudes to his church. In this day of hardship, hunger and poverty, its easy to attract people by telling them what their ears itch to hear, “that you will have money”"I am a devout, spiritual, heaven bound pentecostal believer but Angel must be careful not to dubiously enrich himself usiing God’s name.

  21. Brian Chikwati January 9, 2013 at 2:27 pm #

    Miracle money is utter rubbish. Poor and innocent people being cheated. People being fooled to contribute more and in turn money alleged to be miracle money. Thats access money to these guys needs.

  22. RudeBoy January 11, 2013 at 3:00 pm #

    Miracle money is foolish money. Only fools believe in such lazy ways of making money

    “He would instruct automated teller machines to give him cash despite the fact that his bank account was in the negative balance” – Really? What a load of howgwash. My kid can do better than you in school with your current IQ level Angel

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