A 10 Bill Bill's Bill

I witnessed a wondrous event this autumn: a farmer opening his wallet. Several moths were pleased to effect their escape, not having seen light before in their lives. The second wonder was his handing me a bank note. It was for ten billion, and was printed by the national bank of Zimbabwe, and was barely worth the paper it was printed on. That nation’s appallingly managed economy created a monstrous level of inflation, causing prices to rise and their money’s value to freefall. The state must therefore keep on adding zeros to its bank notes in order for goods and services to be bought. Ten billion Zimbabwean dollars is the equivalent of twopence-halfpenny, or nothing, to be more accurate. Yet all currencies are subjected to inflation and a general, on-going weakening. Within the century, the pound will be worth a penny, with prices to match. The British currency is arguably the world's oldest currency still in use, but a pound is certainly not worth a pound of silver, which was its original value (which is about £420 in 2024).

The tragedy of our age is that people are running after 'things', the value of which diminishes year on year, at the same rate at which their own lives draw to a close. Only the Christian knows he runs a race to receive a prize which neither shrinks nor cheapens, which cannot be robbed, embezzled, corroded or rendered obsolete.