Division As A Fiscal Policy
In Zimbabwe, where inflation is running between 2.2 million and 12.5 million percent a year depending on whether you believe the government or independent analysts, they issued a 100 billion-dollar bank note last week. By Sunday you couldn’t even buy a loaf of bread with it. So yesterday the government announced that it’s knocking 10 zeros off its currency, meaning 10 billion dollars will become one. The government plans to issue Sharpies so it can save money by letting citizens convert their own bills and let them add the unused zeros to the end of their nonexistent paychecks.
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