From Zimbabwe To Washington: The Farce Of "Independent" Central Banks

Zimbabwe's hyperinflation disaster wasn't an accident of poor policy. It was the inevitable result of a central bank printing to fund government spending. The Reserve Bank of Zimbabwe didn't suddenly lose independence - it never had any. Here's the uncomfortable truth: no central bank is truly independent when push comes to shove. The Fed talks about dual mandates and price stability, but when Washington needs funding or Wall Street needs liquidity, the printing press fires up. Zimbabwe just skipped the pretense. Every fiat currency follows the same playbook - expand the money supply until confidence breaks. The timeline varies, but the destination is the same. This is why central bank gold buying hit record levels in 2023. They know their own game.