Now and again we hear some news and wonder if we are dreaming. The wonderful term, quantitative easing, had just started to appear in the media, presumably to desensitise the public when it actually happened - and now it is reality. We wake up and it is still true. It means introducing more money into the economy, apparently out of thin air. These days, we might speculate as to how much of this is printed and how much is created electronically. Either way, it seems reasonable to expect that introducing this much new money could devalue the money that is already in the economy. We are not comparable with Zimbabwe but that country illustrates the extremes of a devalued currency.