Skip to comments.Gideon Gono Comments on QE3 (used to be governor of the Reserve Bank of Zimbabwe)
Posted on 10/16/2012 2:45:36 PM PDT by dynachrome
2.17 These interventions which were exactly in the mould of bail out packages and quantitative easing measures currently instituted in the US and the EU, were geared at evoking a positive supply response and arrest further economic decline.
But even still,
2.20 Despite numerous intervention measures undertaken by Government through the Reserve Bank of Zimbabwe, economic activity continued to decline progressively with inflation peaking at 231 million percent by July 2008. Other challenges that affected the economy include the following:
(Excerpt) Read more at mises.co.za ...
231 million percent at the end!
Actually, he still runs the central bank!
[. . . inflation peaking at 231 million percent by July 2008.]
The paper was worth more than the money printed on it.
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