Zimbabwe Ben's Mentor Gideon Gono Gets His Digs In
Those in glass houses shouldn't throw stones but those who have already devalued their currency to hundred trillion dollar toilet paper are totally qualified to make comments on destructive U.S. monetary policy:
The huge budget deficits accumulated by the United States is [sic] leading to a resistance to relying on the U.S. dollars as a base currency, [Zimbabwe central bank head Gideon] Gono said. The central bank chief warned that the U.S. greenback's days as the world's reserve currency are numbered, the New Zimbabwe report said.
This is the same Gideon Gono who was allegedly banging Zimbabwe president Robert Mugabe's wife for five years and refused to step down from his post at the Reserve Bank of Zimbabwe after overseeing inflation that eventually reached 6.5 quindecillion novemdecillion percent (65 followed by 107 zeros) by the time the Zim dollar was nuked in 2009.
Of the unfortunate hyperinflation situation Gono said "Yes, it was crazy money. But even a governor from Mars or Venus could not have done anything in the circumstances we faced."
He also seems kind of proud of the fact that his method of dealing with a nation's currency seems to have caught on around the world. Check out Sky News:
He claims that the rest of the world has now resorted to what he calls "Gonomics" - printing vast amounts of money to try to combat the recession.
"I led the way," he said proudly.
"I was the first to have to deal with such a crisis."
Well, no, that's not totally true either but we'll let that one go.