Zimbabwe launches new gold-backed currency
Zimbabwe launches new gold-backed currency
Zimbabwe has introduced a new gold-backed currency which the central bank hopes will bring stability to the country’s economy. But as Columbus Mavhunga reports from Harare, economists and ordinary Zimbabweans have their doubts.
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Zimbabwe didn’t do their research before making gold their official currency 😂😂
Time to liberate Zimbabwe.
And yes, Zimbabwe can produce enough gold to back their currency. Every year, they mine 1.2% of new global supply, about 37 metric tons, despite being only 0.2% of the global population.
Not the smartest move to shout out the world yiu have enough gold to back your currency. They should have done quietly.
They just gave an inviting to foreign mining concerns to raid your homeland and the international bank cartel the will to sabotage their financial sovereignty.
Otherwise , well deserved to Zimbabwe. Just having a stable currency would do it. Keep the recipe secrets under wraps.
Good on the Zimbabwean Government. Now they should work on stabilizing the currency and start investing in their people.
Wow, good for you Zimbabwe. Maybe this will be a seeds for lasting prosperity
What’s stopping people from dumping it for actual gold and then traded for dollars?
Good for Zimbabwe! 🇿🇼 This is an excellent step.
And Bitcoin is a currency controlled by Satoshi nakamoto Miguel Angel mejia and if you want a strong currency for your countries I say look at Bitcoin price and offering 1 million bitcoins to all 196 countries each 205 states and others as I am owner of block #0 infinity bitcoins they are still saved and only authorized by me to release 21 million bitcoins because 21 million would be created those where my words.
Does Zimbabwe even have enough gold to have gold backed currency?
backed by whose gold??
Way ahead of us! We need to go back to real gold back money to eliminate inflation!
Obviously they will have to suffer more economic pain, but once they build back faith in their currency and lose their stigma, they will probably fare much better in the long-run. This is as long as corruptiom doesn't send them back to the shadow realm.
Gold ia real money all other ia just l own you. In Gold and Bitcoin we trust.
Nice !!!
Freedom incoming 🦅🇺🇸
Just a new strategy to steal money. You have to be gullible and devoid of any sense to think the same snake now wants what’s best for you.
The only problem with this is they have to hope the people in the central bank don't steal the gold, leaving the new currency worthless. Centralized ANYTHING is less trustworthy, and on top of that, they have such a small supply of gold in the first place compared to every other nation. Although this MIGHT work if they insist other nations pay them in gold, and only use this new currency for local transactions.
Im scared for Zimbabwe.
Killary Killton and her minions will do to them what they did to Libiya.
This will fail… again.
😂and you will pay gold with dollars???😅😅😅😅
AfroFrancique Bancshares! ☯️
🥇🏆⚜️🪙💛🏞️🐎🎶
Good for them take over the dollar once and for all shouldn’t have put it out in the open yet
It's pointless if the government will simply print more currency whenever they want…
Besides, the new currency is backed by such a small reserves.
One billion this is through one coin unless it is smuggling becuse now time hardest not easy
Gold backed currency is the only way to give fake paper currency any value
Let's all wish Zimbabwe a better future and hope it all works better for them.
Trust me the new currency is a stable currency, every centralbank ever🤣
Gold is good. Now the USA will be the next "Zimbabwe".
The governor has already stolen billions of his new currency at his house and foreign banks . Greedy politicians
Gold or other minerals won’t save your corrupt government or leadership in Africa .
It’s about the currency, it’s about how corrupt our leaders are! You blame western leaders of cheating us but the actual economy is being destroyed by our own big men and women in Africa.
I cannot exchange 100 trillion?
Zimbabwe owns 2.5 tonnes of solid Gold, it's not much when compared to the gold reserves of China and Russia. I do admire their forward thinking and really hope that Zimbabwe will succeed this time
The Zimbabwe 🇿🇼 Dollar 💵 is not backed by Gold ! Nuff said ! They only say it’s backed by Gold 😉
hopefully american "democracy" doesn't come to zimbabwe
soon the world will go back to the gold standard
You know, if ANY country in the world wanted to give a gold standard comeback a try, it'd be these guys. It certainly can't turn out any worse than those silly dozen zero currencies they used to have…
It's 2024. We have massive machines to extract gold. Turns out there's alot more than we thought. Gold we will be devalued just like paper money.
They should have backed it in Bitcoin.other countries in Africa will and we'll watch how they skip the line in the global hierarchy. 🤫
Yes Zimbabwe 🇿🇼, I hope it will give the country some hope
And how do you know that the country actually has the amount of gold that's equivalent to the amount of Fiat that they printed……
Bitcoin or bust ………❤
Africa needs the Russian protection and Trade.
They will just keep it tied to gold until they decide to take it off once it's widely adopted
US and EU: "Zimbabwe needs Freedom Currency"
It will come soon…. 😅😅😅
The main problem in that country isn't the currency its the corrupt pack of criminals in charge of the country.
Hell yeah let’s go
This has been tried before. It doesn’t work.