Thoughts about risk, insurance, terrorism, disasters, public policy, and other things that interest me
Sunday, September 28, 2008
This is the Zimbabwean $100 billion note as of July 19, 2008 ( source www.tomchao.com ). At that time, its value was about U.S. $1. It's a symbol of the printing of fiat currency gone mad. Even with the bailout, the U.S. is nowhere near such madness, but significantly increasing the money supply will fuel inflation.