Zimbabwe Introduces New Gold Backed Currency To Tackle Inflation
Zimbabwe Introduces New Gold Backed Currency To Tackle Inflation
zimbabwe gold currency – Zimbabwe Introduces New Gold Backed Currency To Tackle Inflation – For quite some time, Zimbabwe has grappled with currency troubles, prompting its citizens to increasingly rely on the US dollar for everyday transactions, spanning from groceries to gasoline. Despite numerous governmental interventions aimed at…
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How long will it be until people suspect there is not enough gold to back the currency. Forget the paper currency, just use gold.
Nah! We all know what they did behind em closed doors to make the currency rise again………
Hope you succeed
So automatically zim dollars is among top 3 strongest currency on the continent now
It's only non Zimbabweans who laud this non event as something great. We Zimbabweans have been through this crap many times before and know it's nothing but gimmicks!
Great for Zimbabwe, please guide your resources. Continue resilience nice to see African countries talking matters into their own hands. ❤🇿🇦
most Zimbabweans wont fall for this again. we are not putting our hopes up like before.
Can you also take all of your foreigners back to your country now !
Is Mizizi owned by Black people?
Independent Africa
IF THE COUNTRY ARE TO BE TAKEN SERIOUSLY,THEY NEED TO HOLD BETWEEN 100 TONS AND 200 TONS OF GOLD IN THERE RESERVES. NOT 2 TONS, BUT ITS A START.
What happened to the old Zim?
I like this idea, but don't follow Nigeria's example. lol
Learn financial education to all citizens.
Z dollars 💲💲💲💲💲💲💲💲
So the ZIG is exchangeable to GOLD?
It’s doomed to fail for many reasons just like previous 5 or 6 currencies in the past 15-20 years and reason number one is corruption and second reason, there is absolutely not enough gold to cover new currency, 1 tone of gold at home and 1.5 tone abroad, little cash here and there totaling less than $300 millions is definitely not enough to back up new currency. I’m afraid behind new currency is nothing but corruption scam, the president and his people will start printing new currency like crazy, start buying properties or other currencies like dollar or euro, get rich and in a year or two the bank will start printing 100 trillion notes forced by hyperinflation just like 10+ years ago. I hope I’m wrong but it's very unlikely. Unfortunately.
Ahhh… Here we go again… another re-launch of the same old. Zimbabwe had five tonnes of gold with which to back is currency in 2003, held from the time of independence. Gideon Gono sold all of it in around 2003. Now they are bragging about 1.5 tonnes. Do we even know whether it is gold or just Tungsten (same S.G as gold) coated with gold? Why has there been no independent internationally-accepted external auditor to verify the gold purity (by random drilling of bars and random placement thereon and then AA analysis), gold quantity and verifying no third party liability of that gold? Remember the famous, ""One is to One". What happened? Mangudya promised to resign the moment it changed from 1:1. Remember?
THE WHOLE CONTINENT SHOULD DO THE SAME!!!!💯🧠💰👍🎯
So, what'll be the ZIG and dollar conversion rate now?
I've been saying this for a long time African countries need to back their currency with their own gold and resources. Will make it stronger it might struggle in the beginning but it will certainly make it strong in the end that's how the dollar became strong it was back with the gold standard.
Well done team
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They would do better introducing sterling silver coins as silver is inflation busting as the metal has intrinsic value because no one trust's black African governments to manage without corruption that leads to famine and death and begging white world for food aid
Zig iripamberi pe zar
A gold coin could become collectible. Nobody is going to care about the paper money. This isn’t really going to help much. You don’t move forward by regressing more than 100 years.
This is pretty amazing when you think about it. It’s fantastic! Wish they’d done this sooner 👌🏾👏🏾👏🏾👏🏾
I would not trust these guys whatever they telling me. Let's see how many weeks this latest swindle lasts.
The regime really needs to put a serious effort in tackling systemic corruption in Zimbabwe,the level of corruption is so out of hand it’s why investors are gun shy to pump anything in the country. They also need to stop using sanctions as an excuse to loot state funds or abuse power. Implement financial reform,stop wasting state funds on useless luxuries for the elites,start using funds to build institutions with discipline,and Zimbabwe 🇿🇼 will become the crown jewel of Africa again.
Don't accept worthless federal reserve notes(car note,house note=debt) force your natural resources
I wish you succeed dear Zimbabwe