World vindicates Gideon Gono February 3, 2009

Gideon Gono is the Governor of the Bank of Zimbabwe and officially the worst central banker in the world. This week he removed 12 noughts from the Zimbabwean dollar, just 4 months after knocking 10 noughts from the worthless medium of exchange. He is battling inflation at 5 sextillion percent per annum. But now he says other central banks are following his policies and he feels vindicated. Bernard Hickey examines whether Gideon Gono is a visionary or just a plonker that is being copied.

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• Gideon Gono
• Zimbabwe

[Firecrakur]

U speak so much about something u know nothing about. How can one be so ignorant.

[theklrdude]

africa

what can you say.

[fixzimbabwe]

22 zero's in 5 month. Gono, I am impressed.

The world's worst banker, maybe, on the whole he did rather well for himself. Switzerland won't ask where the dollars came from.

PS: I don't like the sarcastic undertone of this reporter in the light of the 5 million Zimbabweans who are in a struggle for life.

[sonnikoh]

go fuck yourself and don't talk shit about the gonos

[libertyeconomics]

The funny thing is, some people even think that knocking off a zero from a fiat currency in the midst of printing more of them is somehow genuinely deflationary and fixes the problem. All it is an attempt to try to start over with the same worthless currency. Once a fiat currency reaches its true value of zero, no central bank can make that currency work again.