What Does Zimbabwe New 100% Gold Currency Mean for the Future of Africa

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https://www.youtube.com/watch?v=NTIp3MKF1G0

What Does Zimbabwe New 100% Gold Currency Mean for the Future of Africa

Zimbabwe back on the gold standard

The world over, central banks moved away from gold-backed currencies. All preferring the fiat currencies that they can print to their hearts’ content.
While Zimbabwe is not moving back to a gold-backed ZW$, the gold coins are actually better than that scenario. With gold coins we don’t have to
worry about whether or not there really is gold in a vault somewhere. We will be holding the gold in our hands. So, with the commitment to a
multicurrency regime and gold coins, there is something to love in the latest measures taken by the government to fix the economy [SIZE=4]of Zimbabwe[/SIZE]

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I think this is a good move & I would want to own one very fast …

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Note. It’s another fiat currency if the quantity of the gold coins in supply is not capped and the value of the gold in the gold coin is less than the fiat value.

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We are heading back to gold standard. American cant keep on sanctioning countries unilaterally. Wa wachiwe hizo makaratasi zao.

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But how many Zimbabwean citizens can afford to buy a gold coin ?

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Imagine all the dollars heading back to the US because they are useless toilet papers to the rest of the world!
Inflation huko inaweza kua 1 million percent :D:D:D:D:D

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Congress passed a resolution to make Russia state sponsor of terror. The US foreign Minister refused it. Since it could have made any country that does business with Russia to face sanction. The countries that does business with Russia could have shifted from dollar transaction to rubles. Ditch western financial institutions the dollar could have lost its status as a reserve currency. Hizo dollar zote zingerudi kwao wazitumie ka tissue paper.

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I suspect the value will depend with the quantity of gold on a coin. Hapo mi naenda mass robbery I steal a million coins and melt them.

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They are overdoing the sanction card and cheapeninng the terrorism designation . Sasa designating Russia or Cuba or North Korea state sponsors of terror imekua a political gimmick more than a serious accusation.

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Money is not something to afford per say but something to earn. It’s a product of labour in simple terms. For example, if till your land you pay me with a gold coin.

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Many people don’t understand money and how capitalism works.

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Help me understand,1 Z gold coin = 1800 $ (USD)…a teacher, for example, in Zimbabwe earns 120- 200$ a month…a casual laborer I’m sure earns less. Do you now see why I asked that question ?

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The must be lower divisions of the coin for daily transactions or the coin is to back the currency or for transcations of 1800 in value.

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:D:D:D:D:D:D:D

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It’s being used more so as a store of value and not as a medium of exchange.

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Even in a gold economy, America is still king.
They have the largest reserves, and will most definitely control the prices.

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What about the Euro? A sudden move to gold would cripple all economies.

As a president or decision maker, you’ll be overthrown and killed before that idea lays eggs.

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But, When it get to financial institutions.They use your Hard earn deposits, create 90* the amount deposited, Loan out, and expect interest.

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It means going back to the gold standard. If you have a certain amount of currency you can exchange it for gold at a price set by the government. It does not mean people will physically use gold coins but it will be used to back the currency.

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Low IQ leaders from low IQ societies get killed or overthrown.
Low IQ societies don’t know that having nuclear weapons earns you a place at the negotiating table today.