A crap economy, a nation of millionaires

[peteryoung]

The sun has come out today so I thought I'd risk a short wander around the block, and went to the hotel cashiers to draw out some of my allowances to use a little of it as 'mugging money', quite a common practice for us when out on the streets in places like Rio or Nairobi, the logic being that if you are mugged (unlikely as it is) it's better to part with a few quid than end up testing the sharpness of your mugger's knife. Anyway, the good news is that the exchange rate for Zimbabwean dollars is slightly better today than it has been for the last week or so, as the cashier optimistically informed me; the bad news is that the mighty Sheraton Hotel has no more money left until this evening, and even then they don't know quite how much they will have delivered. Looks like I'm stuck here for now, so the tennis court is beckoning as I've been neglecting my backhand of late.

You may be pleased to learn that at today's improved rate $8,265 will buy you one pound sterling, whereas a decade ago $10 to the pound was the more usual exchange. With this knowledge, last night in the hotel's Japanese restaurant we ordered a bottle of imported South African Simonsig Shiraz, not a particularly vintage year, which nevertheless set us back a quarter of a million dollars. Similarly my soup and salad lunch has just set me back $76,840, and I felt a bit of a fake when I tipped the waitress $10,000.

I'd be a millionnaire for a day if only I could get at the $1,200,000 in allowances the hotel should have for me. Maybe tonight I should find the nearest casino and gamble away a million on one roll of the dice just so I can say "been there, done that."

Comments

[the-mendicant.livejournal.com]

I know I'm way behind on the news, and I'm fascinated by your descriptions of your visit so far - but what exactly are you doing out there?

[peteyoung.livejournal.com]

My day job is BA cabin crew. Home tomorrow night, whee!

[vicarage.livejournal.com]

At 28000 dong to the GBP, it was very satisfying to use a cash machine in Vietnam just after my house sale to see I was a current account billionaire. And you get things for 1000 dong!

[hnpcc]

whereas a decade ago $10 to the pound was the more usual exchange.

And pre-1980 the Zimbabwe pound was stronger than sterling.

Ever since I found out why the currency went into free fall I've been giggling. My knowledge of economics is crap in general, but even I'm aware that printing more currency generally doesn't solve more problems than it creates. *sigh*

[peteyoung.livejournal.com]

Zimbabwe now prints 'bearers cheques' instead of actual money, with values in various tens of thousands of dollars. They function the same way as money except that each note has a time limit on its use.

[daveon.livejournal.com]

M still has friends who farm in Zim, its a pretty nerve wracking thing to do now :( - I forwarded your comments to her, sad stuff.

When booking my hotel for Soeul last week I pressed the wrong button and nearly choked when the calculation for my Bill came to 999,999,990 - that's Korean Wong (I think) - something like £500! - I'll get some big numbered money at Heathrow tomorrow I suspect.

[peteyoung.livejournal.com]

Have left a note for your flight tomorrow, BTW. Have a good 'un.

[daveon.livejournal.com]

Cheers! Anything Korean or Taiwaneese you'd like?

[peteyoung.livejournal.com]

Nope, but thanks. If I think of something I'll probably pick it up in Hong Kong next month!