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UK Surpasses Zimbabwe In Annual Inflation

Tyler Durden's picture




 

No, this is not a joke. From Bloomberg:

ZIMBABWE ANNUAL INFLATION SLOWS TO ANNUAL 3% IN FEBUARY

And this is without hedonics and seasonal adjustments. As a reminder the most recent UK inflation print was 4%. It is now obvious that the Central Banking cartel is doing all it can to destroy the pre-money valuation of TheOnion.com

 

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Wed, 03/16/2011 - 12:43 | 1061373 traderjoe
traderjoe's picture

The beginning of the end of fiat - bitchez

Wed, 03/16/2011 - 13:26 | 1061618 jus_lite_reading
jus_lite_reading's picture

This is the beginning of the end, period. THE US CAN'T EVEN HELP JAPAN WITH MONEY! BREAKING NEWS!

http://fiatsfire.blogspot.com/2011/03/some-interesting-links-for-those.html

 

Wed, 03/16/2011 - 12:44 | 1061381 alien-IQ
alien-IQ's picture

the Bernank must be sooooo jealous. Expect him to retaliate.

Wed, 03/16/2011 - 12:48 | 1061402 AnarchoCapitalist
AnarchoCapitalist's picture

Haha. Awesome.

Wed, 03/16/2011 - 12:49 | 1061407 TruthInSunshine
TruthInSunshine's picture

The Onion has a lawsuit against ChairSatan Ben S. Bernanke for warping reality to the point that it's caused their business model to fail.

"We can't create headlines, no matter how much hash we've smoked, more ridiculous than ones being created by Bernanke," one senior writer complained.

Wed, 03/16/2011 - 13:53 | 1061728 akak
akak's picture

Maybe The Onion could hire Leo Kovilakis or RobotTrader as a writer?

Those statist, servile, pro-Establishment lackeys can positively blowtorch reality!

Paul Krugman and Robert Reich do give them a run for their money, though.

Wed, 03/16/2011 - 14:52 | 1062247 equity_momo
equity_momo's picture

Youre not wrong.

Wed, 03/16/2011 - 12:48 | 1061416 Hexus
Hexus's picture

My grandma surpassed Hitler in military prowess a while ago, about the time he died. So what?

Wed, 03/16/2011 - 12:50 | 1061424 RmcAZ
RmcAZ's picture

This is deflationary for Zimbabwe... bad news for them. Send in the Bernank.

Wed, 03/16/2011 - 12:52 | 1061426 Silverhog
Silverhog's picture

Maybe I can get a Trillion Pound note on eBay soon.

Wed, 03/16/2011 - 13:53 | 1061783 tonyw
tonyw's picture

Not Trillion Pounds they used Zim dollars, switched overnight to use USD making the Zim dollar even more totally worthless in one fell swoop.

I have a full set of Zim trillion dollar notes, but am not selling before you ask:-)

Wed, 03/16/2011 - 12:50 | 1061427 Cash_is_Trash
Cash_is_Trash's picture

Zimbabwe doesn't have a currency. It uses foreign fiat paper.

Way to go King!

http://news.bbc.co.uk/2/hi/africa/7995882.stm

 

Wed, 03/16/2011 - 12:52 | 1061432 pendragon
pendragon's picture

when you've been going up a few million percent the previous years the base effects must be pretty sizable...

Wed, 03/16/2011 - 12:55 | 1061448 Cursive
Cursive's picture

UK did it for the lulz.

Wed, 03/16/2011 - 12:57 | 1061463 Horatio Beanblower
Horatio Beanblower's picture

The United Banana Constitutional Monarchy of Great Britain and Northern Ireland...

 

 

"First-time buyers are being offered deposits of up to £70,000 by their local council to help them on the property ladder, with taxpayers footing the bill if house prices fall." - http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/8383167/First-time-buyers-offered-70000-deposits-by-local-councils.html

 


 

Wed, 03/16/2011 - 15:03 | 1062309 equity_momo
equity_momo's picture

That is some fucked up shit right there. And there was me thinking the biggest idiot in the western world of the last 20 years was Bill Clinton and his administration who decided selling NINJA loans to poor people so they could get on the housing ladder was a good idea....  There isnt enough data storage online to keep a list of all the full blown retards that taxpayers have had to put up with over the last few decades. Time to go Galt.

Wed, 03/16/2011 - 21:44 | 1064647 Fiat Money
Fiat Money's picture

oh, for chris'sakes....

  you're not still blaming  "low income borrowers" for WALL STREET BLOWING UP, are you?

    Go read "THE MONSTER:  How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America--and Spawned a Global Crisis" by Michael Hudson, about how Ameriquest, Countrywide, and rival sub-prime lenders  MASTERED the art of  FLEECING customers with abject lies & by BURYING the fine-print - too many techniques to recount here.  Also how  LEHMAN (like Michael Miliken & Drexel-Lambert 2 decades earlier)  and other WALL St.  sharks  SUPER-CHARGED  Roland Arnall's multi-billion loan-sharking operation.   

 You want to bash Clinton - fine.  Since billy-boy never claimed to be a financial guru, that would include HIS TREASURY SECRETARIES, larry summers and bob rubin, and their Fed pal,  alan greenspan - all 3 gs/jpm toadies.  

Wed, 03/16/2011 - 13:02 | 1061496 alien-IQ
alien-IQ's picture

I think it's safe to assume they won't be throwing eggs.

Wed, 03/16/2011 - 13:06 | 1061519 mogul rider
mogul rider's picture

Zimbawean girls are cuter too.

That means something these days

Wed, 03/16/2011 - 13:50 | 1061751 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

This is the proper avatar mogul.

Wed, 03/16/2011 - 13:08 | 1061523 Caviar Emptor
Caviar Emptor's picture

Zimbabwe now "Safe Haven" status. 

Wed, 03/16/2011 - 13:16 | 1061543 baby_BLYTHE
baby_BLYTHE's picture

dp

Wed, 03/16/2011 - 13:13 | 1061554 baby_BLYTHE
baby_BLYTHE's picture

Now get ready for "hot money" capital flows into the US!

Wed, 03/16/2011 - 13:14 | 1061563 Shameful
Shameful's picture

Gideon Gono on the lecture circuit yet?  Sure most central bankers would love to pick his brain on monetary theory and the use of prayer to fight inflation.  Old Gideon had a nice place home in a country that resembled hell, sure the CB heads want to know all the tricks to keep the starving rabble at bay.

Wed, 03/16/2011 - 13:19 | 1061586 AdTheNad
AdTheNad's picture

We made the central bank independent in 1997 for one reason.  To keep inflation at 2% of RPI.  This is at 5.1%.  They have one job alone and they can't do it.  The whole lot should be sacked, but of course the government want inflation so they won't.

 

Oh yeah, and they switched the metric from RPI to CPI which is about 1% lower anyway, and they can't even keep that in check.

Wed, 03/16/2011 - 13:37 | 1061676 THE DORK OF CORK
THE DORK OF CORK's picture

You must be joking , this was not in the Labour manifesto , it was not a cabinet decision and was taken less then one week into office.

Gordon Brown must be the most odious creature of the banks ever to enter the House of Commons - and that is some feat.

Wed, 03/16/2011 - 13:21 | 1061594 redpill
redpill's picture

Meanwhile on the home front:


Mandatory Spending to Exceed all Federal Revenues — 50 Years Ahead of Schedule

http://www.weeklystandard.com/blogs/mandatory-spending-exceed-all-federal-revenues-fiscal-year-2011_554659.html

Wed, 03/16/2011 - 13:47 | 1061736 centerline
centerline's picture

Going parabolic.  Slope getting more vertical each day now.  Means the end is closer than most people think, in my opinion.  The rest is disinformation so that the herd does not have time to panic before the lights go out.

Wed, 03/16/2011 - 14:50 | 1062216 css1971
css1971's picture

It's been exponential since Y2K. It's just that the numbers are moving out of your frame of reference.

http://www.kitco.com/LFgif/au75-pres.gif

 

Wed, 03/16/2011 - 13:24 | 1061614 Stuck on Zero
Stuck on Zero's picture

Two problems with this:

1) Zimbabwe no longer uses its own currency but uses dollars, Euros, Rand for currency

2) The statistics come from the Zimbabwe government.  Yeah, like that's reliable.

 

Wed, 03/16/2011 - 13:27 | 1061633 RockyRacoon
RockyRacoon's picture

Time's a wastin'!  Get yourself some o' that Saudi/US oil gold bullion!

First, one of the gold bullion discs produced by the Philadelphia Mint in 1945 to pay for oil from Saudi Arabia. They would not accept dollars, so these gold discs were created for payments. 

Auction ends soon!

Wed, 03/16/2011 - 13:46 | 1061734 THE DORK OF CORK
THE DORK OF CORK's picture

Just ordered another 1.35 troy ounces yesterday Rocky (sub 1000 euros spot ).

I feel dirty but what can one do .

Wed, 03/16/2011 - 13:48 | 1061749 akak
akak's picture

Why feel dirty?

"Dirty" is old linen rags with pictures of dead statist politicians and high fecal coliform counts.

Wed, 03/16/2011 - 13:49 | 1061758 tiger7905
tiger7905's picture

Some more details from Charles Nenner. Also a weaving together of Martin Armstrong and Nenner's forecasts.

http://goldandsilverlinings.com/?p=263

Wed, 03/16/2011 - 14:30 | 1062086 lynn
lynn's picture

my savings are being robbed. i want interest rates to go high soon

Wed, 03/16/2011 - 14:33 | 1062104 lynn
lynn's picture

my savings are being robbed i want interest rates at 10%

Wed, 03/16/2011 - 15:06 | 1062339 equity_momo
equity_momo's picture

Be careful what you wish for. If that happens Govns will go bankrupt and your savings will be vaporized. Forget the usury scam and goto gold.

Wed, 03/16/2011 - 15:42 | 1062583 gkm
gkm's picture

Guess I should have done what I was planning from 2009:  long Zimbabwe dollars.  Unfortunately, I couldn't figure out how to do it.  Oh well.

Wed, 03/16/2011 - 17:58 | 1063506 rufus13
rufus13's picture

If Bob M. hasn't given all of the gold mines up (to the Chinese Red Army), he could start issuing fractional ounce gold coins to suppress the worthless foreign fiat infesting The Former Rhodesia.

Zim as "safe haven" for American and European ex-pats & their money would be highly ironic considering how Mugabe has treated his most productive (white) citizens. Not saying it couldn't happen....

 

Cheers.

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