Debt Chemotherapy

Amazingly, I read that the Dictatorship of Zimbabwe reports that they will be lopping off ten zeros off their money to put it more in line with the other funny money of the world after it fails.

$10,000,000,000 Now $1 in Zimbabwe

Zimbabwe will knock 10 zeros off the country’s hyper-inflated currency next month, making 10 billion dollars one dollar, the nation’s central bank governor said Wednesday.

President Robert Mugabe immediately warned in a televised address that he will impose a state of emergency if profiteers take advantage of the change on Aug. 1.

”Don’t drive us further. If you drive us even more we will impose emergency measures. We don’t want to place our country under emergency rule,” Mugabe said.

We don’t want to place our country under “emergency rule?” I though this was a Dictatorship where the people have no rights & the elections are rigged and the political opponents were summarly killed by Mugabe’s thugs?

Amazing the things the come from the lips of tyrants.

Just like what happened to Germany in the early 1920’s when a loaf of bread was bought with a wheelbarrow full of money, when the $100,000,000, or one hundred million mark was introduced.

People burned money in the winter to survive because it was worthless.

USA Gold has a brief and concise summary on their site;

Foreword: The many parallels between 1924 Germany and present-day United States are cause for concern. Though the U.S. has not yet reached the depths to which Germany descended in that era, few can look at the constant depreciation of the dollar since the early 1970’s and fail to be alarmed. It seems contemporary America differs from 1924 Germany only in the duration between cause and effect. While the German experience was compressed over a few short years, the effects of the American inflation have been more drawn out.

Well, history is repeating itself…

Comments?

Christopher Winkler
DebtChemotherapy.com