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Source link: http://blog.mises.org/5484/chopping-3-zeros-when-inflation-exceeds-1000/

Chopping 3 Zeros when inflation exceeds 1000%

August 18, 2006 by

Here is a remarkable story of Zimbabwean monetary reform.

“The only positive thing about Gono’s statement is that it will now be easier to carry money around, instead of lugging it around in suitcases,” said Johnson Moyo, a shop assistant at a retail store.

{ 3 comments }

David C August 18, 2006 at 10:04 am

Let this be a lesson to anyone who thinks it would be a good idea to buy bonds and hoard dollars during this next financial downturn.

billwald August 18, 2006 at 1:47 pm

I suggest that the USofA chop two zeros. It would have a good psychological effect. If one has $1000 in one’s pocket, one is more likely to blow a thousand than a person with ten dollars is to blow one dollar.

Peter August 21, 2006 at 9:55 pm

More people “blowing” their money would be a good effect? Surely, billwald, you’ve been hanging around here long enough to have at least found something you could read and understand?

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