Metallic Pea

Frustrating People Since 1971.

Happy New Year (Your Money Is Worthless)

with one comment

‘Unequal weights and unequal measures are both alike an abomination to the LORD.’  ~ Proverbs 20:10

 

‘Banks, including those in USA and Britain are not now just talking of, but actually implementing flexible and pragmatic central bank programs where these are deemed necessary in their national interests.

That is precisely the path that we began only 4 years ago in pursuit of our national interest and have not wavered from that critical path despite the untold misunderstandings, vilification and demonization we have endured from across the political divide.’  ~ Gideon Gono, Zimbabwe’s Central Banker

In an effort to revive their tanking economy, Zimbabwe’s central bank has been running the printing presses to the point of exhaustion.  The result has been an exponential expansion of the money supply and–you guessed it–runaway inflation. 

A beer in Zimbabwe (at least as of a few months ago) costs Z$15 Billion.  (That’s billion with a ‘B’!)  Here is what it looks like when you put you belly up to the bar in Zimbabwe:

 

The Zimbabwe Central Bank’s inflationary policies have required the issuance of larger denominations of paper/ fiat (i.e., worthless) reserve notes.  (Below is a Z$50 BILLION note.)

 

Do you want to know the really scary part?–the U.S. Federal Reserve is following the exact same policies in an effort to curb the economic recession…that was caused in large part to those very policies!

I wonder whose face they’ll put on the $50 Billion U.S. note?  I’d vote for Franklin Roosevelt.

My advice?  Au all the way.  (With a healthy helping of Ag on the side.)

 

I don’t know what they want from me

It’s like the more money we come across

The more problems I see

 

~ Mo Money, Mo Problems, Notorious B. I. G.

     

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Written by ninepoundhammer

January 1, 2009 at 9:33 am

Posted in economy

One Response

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  1. Great title Matt. I think I will start greeting people with it.

    Jacob

    January 2, 2009 at 8:11 am


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