Weird Money | JP Koning | Moneyness | 21st November 2015
What’s a ‘bond coin’? In practice, it’s an attempt by the Zimbabwe Central Bank to circulate coinage that people trust despite a recent peak inflation rate of 79.6 billion percent. In theory … well, there is no theory, because the explanation is missing from the bank’s website. There is a guarantee, allegedly. The coins seem to be working as a medium of exchange; but are they also a unit of account?
