@ErrataRob Money printing and inflation led to Zimbabwe needing super large bank note denomintion for utility. The U.S. is similarly printing a lot of money, and arguably we already needed notes large $100 to be useful, but there is systemic resistance. Where does this lead?
Remember all the (absolutely incorrect) "but inflation!!?!!" takes post great recession? Same deal.
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Further, Zimbabwe was not issuing a reserve currency. The rules are different in that situation. Easy tell: tbill coupon rate.
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The essential difference here is (the perception of) prudence. Zimbabwe got itself into trouble by doubling down on policy that had the (predicted and) predictable effect of destroying economic output. Diametrically opposed to situation where you're issuing to *support* output.
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