Wednesday, November 12, 2008
Zimbabwe Ben Slows Down
The monetary base (MB) was $1,236,518 million on 5 November 2008 and $843,841 on 10 September, a 46.53% increase in eight weeks. Zimbabwe Ben (ZB) is working overtime to defend your dollar's value. If the last eight week's rate of increase continues for 40 more weeks, that's an 890% increase in 48 weeks, a marked slowdown from my last report, which was a 1,040% increase. ZB considers this tight monetary policy. It is, by Zimbabwe's standards. Got gold? Get more. Got bonds? Shame on you.