Monday, February 09, 2009

Zimbabwe and the Rasbucknik

No surprise that Zimbabwe blames its decision to drop twelve zeroes from its currency on oppressive foreign contracting. But wait: it's not mineral extraction or status of forces, it is the cost of printing money itself:
"As a country, we have come to terms with this stubborn reality that we were put under economic sanctions by Germany, which unilaterally cut a 50-year-old contract to supply us with currency printing paper, machinery, spare parts and inks without notice in July last year."
Brings to mind nothing so much as Al Capp's legendary Slobbovian rasbucknik, one million got you a dollar and two got you only eighty cents because it cost so much to carry the extra million around.

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