Where's your Milton Friedman now?
Isn't it time for ZaNuLab to learn from Zanu?
The solution to inflation, it turns out, is rather simple:
"The Zimbabwe dollar will be redenominated by a factor of one to 10, which means we are removing 10 zeros from our monetary value. Ten billion dollars today will be reduced to one dollar with effective from August 1," said Gideon Gono, the central bank governor.
The largest new note will be worth 500 new Zimbabwe dollars, or five trillion current dollars. Coins, which have been obsolete for years, will also return, and existing notes will be valid until the end of the year.
Why doesn't Alistair Darling knock off a zero and we can get back to the five bob pint.
posted by David Farrer at 07:20
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