

Topping off a weekend of surreal news is the announcement from the
Central Bank of Zimbabwe that the country is now evaluating introducing a
gold-backed Zimbabwean dollar, and, in keeping with the Salvador Dali
feel to the past 48 hours, that the "days of the US dollar as the world's reserve currency are numbered." Yes. Zimbabwe, the same place that two years ago sported a brand new crisp Z$100 trillion bill. What is just as odd is that this news comes less than a week after Iran's President Mahmoud Ahmadinejad criticized US economic policies,
saying that the paper currency created by the American government is
taking a heavy toll on the global economy. While Zimbabwe, which now
transacts almost exclusively in foreign currencies such as the USD and
the South African Rand, is actively considering ways to return its own
currency into circulation, the man who has up to now served as an
inspiration and a role model to Ben Bernanke, Gideon Gono, said the
country should consider adopting a gold-backed currency. “There is a
need for us to begin thinking seriously and urgently about introducing a
Gold-backed Zimbabwe currency which will not only stable but
internationally acceptable,” he said in an interview with state media...
That giant ripping noise you hear is the Chairsatan tearing down each
and every 20x10 poster of Gideon Gono, lining the hallways of the
Princeton Economics department.
1 Comments in Response to Zimbabwe Says Days Of The US Dollar Are Numbered, Pushes For Gold-Backed Local Currency
Are we at rock bottom yet? Even Zimbabwe doesn't want our dollars.