Posted on 04/06/2024 12:51:56 PM PDT by RomanSoldier19
Zimbabwe has introduced a new currency, the ZiG, as announced by the new Reserve Bank of Zimbabwe (RBZ) Governor, John Mushayavanhu, in his long-awaited 2024 Monetary Policy Statement.
The introduction of the ZiG, which stands for “Zimbabwe Gold,” marks a significant shift in the nation’s financial landscape.
(Excerpt) Read more at iharare.com ...
Where is this gold? Can I see it? Can I touch it?
Sound like one of those spams I get all the time.
...or ship it to Geneva to help the leaders pay for chateaus in the Alps, or mansions on the Cote d'Azure.
I guess Zimbabwe learned its lesson from the last time it inflated its currency. The BRICS nations are working towards something similar to include other commodities like gas and oil in addition to gold. The dollar and all Western currencies are basically toast, just a matter of time. This was one of the main reasons for our proxy war with Russia. We’ll see how this goes with Zimbabwe. If it looks legit and they have the gold to back it up it should be interesting.
Exactly. Unless a currency is redeemable for gold then it isn’t a gold backed currency.
From the article:
“ The Reserve Bank shall only issue ZiG notes and coins against reserves assets actually held and managed by it, and the value of the ZiG issued and in circulation at any one time shall be anchored in and backed or covered by a composite basket of foreign currency reserves and precious metals received (mainly gold) and valuable minerals, held and maintained by the Reserve Bank in its vaults as part of the in-kind royalties.”
Not 100 percent gold backed, but a mix of gold AND foreign currencies AND commodities held in their territory . A good start in ending their currency crisis.
The world is realizing they can not use the printing presses ( listen up America) to create “ wealth”. The move to backing currency with commodities, food, gold, etc…tangible assets is finally happening. Expect a monumental “ shift “ in sovereign currency values- in other words- “ those that are last will become first, those first will become last”.
US Dollar: Backed by nothing.
What a world we live in.
Sounds like a heist movie... one day they open the vault, and the gold is gone!
Zimbabwe is very aligned with China which is part of BRICS.
Just looking at the 100,000,000,000,000 note there are the words, “I promise to pay the bearer on demand one hundred trillion dollars.” Of course the promise was never going to be kept, but that’s not the point. The promise was on the note.
Our money used to say things like, “This certifies that there is on deposit in the Treasury of the United States, one dollar, in silver payable to the bearer on demand.” or on Federal Reserve Notes, “This note can be redeemed in lawful money at any Federal Reserve Bank.”
Now our money just says “One dollar” and that’s it. Oh and it’s legal tender for all debts public and private. No promise or guarantee of anything, One dollar, Five dollars, etc.
Most of Africa will be aligning with BRICS. Those 5 French countries “colonies” (who used French currency) in Central Africa have thrown the French out and are cozying up to Russia & China. Saudis are already in BRICS and as soon as Russia & China can show they can hold off the US militarily they might very well switch sides. This is the stuff world wars are made of.
100%
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