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Abandoning the ship

…stuffing the boat with more Zimbabwe-dollars didn’t work.

A couple of days ago, BBC told the story about the teacher who «could not afford to work» because inflation ate her wage even before it came into her hand. Finally, after years with superinflation Zimbabweans are now allowed to trade with foreign currencies, BBC reports in a new story today. Maybe the economy will turn, as people now are able to trade with something they believe in.

Why should governments have monopoly on currencies within a country? As long as everyone trusts the currency its all good, but as soon as they start to distrust it, is it not better to turn to something they actually have trust in? To still allow people to trade with eachother…

29 januar, 2009 - Posted by | Uncategorized

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