The Joy of Economics - or, how I (fleetingly) became £10 richer*

The other week Derek, my old Seffrican amigo, made me a generous gift of 1500 Zimbabwean dollars.


I was tickled.

For those of you who think you're more-or-less aware that Zim money is worthless, here's some brutal context. These bank-notes are literally worth less than the sum of their constituent parts. In short, you're better off wiping your arse on them than shelling out for bog-roll.

And these were old notes, too (2001 and 2003, it turned out). The most recent batch issued by the Zimbos had a face 'value' of Z$50bn - and a Use By date. Anyone shopping now with denominations in the hundreds would be laughed out of the store. Or directed to the toilet, perhaps.

Still, sterling silver lining and all that. A few days ago the Zim national bank knocked a cool TEN zeros off the currency. 1 new dollar is worth 10,000,000,000 of the old: all of a sudden my Z$1500 comes to about a tenner.

I'd nip round the local Post Office with my winnings, but it's closed. And what with inflation at 11,000,000%, by the time the markets open tomorrow my Z$1500 will be worth about sixpence. Again.

* without even going out to work!!!