Thursday 31 July 2008

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.

1 comment:

David Farrer said...

Comments from previous template:

Sam Duncan
Of course! It's all so obvious! That's why Bob's President of an actual country, and Milty just wrote books and stuff. 
Presumably they've got the 50,000 New Zim Dollar notes all ready and printed for issuing in six months' time?

31 July 2008, 16:58:38 GMT+01:00
– Like – Reply

Simon Jester
Better still, let's return to pre-decimal coinage, at a rate of 1 decimal penny to 1 new farthing.

31 July 2008, 12:58:52 GMT+01:00