In the news today: Reserve Bank of Zim will lay off nearly all its staff

All the useless public positions created ultimately leads to their own undoing.  When the public stops accepting the funny money printed by central banks, the power is taken away from government to allocate capital as it pleases.  As a result the cushy government funded jobs at the expense of citizens pocketbooks are shed, leading to a reallocation of capital and wealth to those who create real value in the economy.

The same thing will happen across the Western world in the coming decade.  Mugabe was not being as outrageous as you think when he called the West hypocrites for pointing fingers at his policies.  It’s just sad Zimbabweans couldn’t get rid of the central bank altogether.

Zim’s Central Bank to lay off 85% of staff

Aug 30, 2010 6:50 AM | By Sapa-dpa

Zimbabwe’s bankrupt Central Bank is to retrench 85 percent of its bloated staff complement [from 2,600 to 400] to help it move back into the black and function as a reliable national bank, according to Finance Minister Tendai Biti.

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