The future US dollar?

The currency of thug-ruled Zimbabwe gives a whole new meaning to “printing money” and to the term inflation (an expansion in the money supply usually associated with higher prices). Thugs have it easy: print whatever you like, put an expiration date right on the bill, and presto, it’s like last week’s fish. At least that approach is the truth about the value of paper money. This note became worthless in August 2008, four months ahead of schedule. I’m told this is the largest banknote ever printed.

Hundred billion dollar note from Zimbabwe
Canon 5D Mark II + EF 50mm f/1.2L @ f/8

Here in the US, the scary part is that our leaders actually believe that we can print our way out of an economic downturn without risks that could make today’s events look like a tea party. We all should hope (and perhaps pray) that the unprecedented expansion in the US money supply doesn’t end badly in hyper inflation or an accelerating and unstoppable deflation, larger money supply or not. The only real cure means abandoning a fiat currency to link the dollar to something physical, like gold (or mouse turds), which can’t be created out of thin air by politicians as the dollar can, but things have to get far worse before that option gets put onto the table. Read The Creature from Jekyll Island, but not before bed if you’re prone to nightmares.