Will Grigg?s Liberty Minute

January 23, 2009

On January 16, Zimbabwe?s central bank set a new record in perverse profligacy by announcing the creation of a $100 trillion banknote, as well as other notes in denominations of 10, 20, and 50 trillion Zimbabwean dollars.

At the time of the announcement, the note was worth about 33 U.S. dollars in the underground currency market, assuming that anybody would be interested in buying Zimbabwean currency. But prices for essentials double every day in Zimbabwe ? that is, the currency loses half of its purchasing power every day.

The Mugabe regime insists that printing currency in obscenely huge denominations is necessary to cure that country?s cash shortage. But the real problem is that the government has stolen nearly all of the currency?s value through inflation.

Lest we think that Zimbabwe?s rulers are uniquely cruel and foolish, let?s not forget that our own rulers are following exactly the same course.

Let us take back the liberty wherewith Christ has made us free.