The head of Zimbabwe’s reserve bank explains the policies that have led to hyperinflation.


Interview from January 2009.

Robert Mugabe’s right-hand man, Gono generally keeps himself shielded from the foreign press, fortifying himself in luxury hotels or his 47-bedroom mansion in Harare. Gono is known in some circles as “Mr. Inflation” because he has overseen the printing of billions of dollars in worthless notes, most recently Zimbabwe’s trillion-dollar bill, to be launched later this year.

I found myself doing extraordinary things that aren’t in the textbooks. Then the IMF asked the U.S. to please print money. I began to see the whole world now in a mode of practicing what they have been saying I should not.

There is a very high level of indiscipline and corruption in the Zimbabwean economy. (says the man who lives in a 47 bedroom house and has the ability to print money… coincidence???)

http://www.newsweek.com/2009/01/23/it-can-t-be-any-worse.html

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