Oh yeah, that'll work

Venezuela cuts zeroes from currency in hope of stalling inflation | Gold Anti-Trust Action Committee

Perhaps Cullen could try this little stunt to arrest inflation.
[quote]Venezuela launched a new currency with the new year, lopping off three zeros from denominations in a bid to simplify finances and boost confidence in a money that has been losing value due to high inflation.

President Hugo Chavez’s government says the new currency — dubbed the “strong bolivar” — will make daily transactions easier and cure some accounting headaches. Officials also say it is part of a broader effort to contain rising prices and strengthen the economy.

“We’re ending a historical cycle of … instability in prices,” Finance Minister Rodrigo Cabezas said Monday, adding that the change aims to “recover a bolivar that has significant buying capacity.”[/quote]

Hmmm…I wonder if Chavez has thought it might be him that is the problem. nope unlikely, strangely he seems to have the same problem as Cullen, he has pumped increased amounts into social programs, reinforcing his support among the poor and helping to drive economic growth.

Funny how increased social spending creates inflation in Venezuela but not in little ole NZ.

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