Thursday, September 1, 2011

Britain joins Robert Mugabe school of Economics

    Great Britain and NATO apparently joined the Robert Mugabe school of Economics. Mugabe, of course, is the Zimbabwean dictator who printed so much money in 2008 that it cost more than 230 million Zimbabwean dollars on Dec. 31, 2008 to buy as much as one could buy with one dollar at the start of the year. A 231,150,888.87% inflation rate!
    It seems the Rebels in Tripoli are having a hard time paying bills and providing basic services. And so Reuters reports the following:
    Britain flew 40 tonnes of freshly printed bank notes, many bearing Gaddafi's image, into Libya on Wednesday to help pay public workers and replenish bank cash machines.
    The 280 million Libyan dinars, officially worth about $234 million, is part of a consignment worth about $1.5 billion blocked by Britain in March after he cracked down on protests.
    Are there any more goods to buy? What exactly is backing this currency? How much faith would you have in a currency that featured the likeness of a man who had just been driven from power?
    Tripoli is supposedly out of water. The British better crank up those printing presses again so folks can get a drink and a shower. But instead of bills featuring Gadaffi, why not come up with a fresher face? Say, uh, Jefferson Davis?

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