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sharpe

Zimbabwe Financial History

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I think it was this forum where I read one of the central bankers of Zimbabwe applauding the actions of Bernanke et al. He said that the Zimbabwe had similar banking problems, and bailed out the banks in a similar way.

It would be good to know the details of what they did in Zimbabwe and compare with what our banks are doing. One of the bones of contention is as to whether our central banks will be able to create inflation or whether they will fail and we end up with deflation. Zimbabwe managed it, so maybe it is not so hard after all.

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wikipedia has quite a bit of info on zim dollar

http://en.wikipedia.org/wiki/Zimbabwean_dollar

I know someone who used to work in Reserve Bank of Zimbabwe as a Secretary a long time ago, i have heard the odd story from them over the dinner table but I cant give you any real history. The story I heard was Inflation picked up when money was printed and given directly to the war vets, who then started spending/handing it out like it was toilet paper on there way home..

However not paying your debts destroys confidence and starts hyper inflation (Warning to iceland who don't want to pay there debts)

http://news.bbc.co.uk/1/hi/business/1251283.stm

Edited by moosetea

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