Why Zimbabwe is Using Gold as a Currency | Vantage with Palki Sharma 

So let me understand that five thousand years of History being proven out is now an experiment in Zimbabwe. 😮‍💨 🤣🤣🤣🤣🤣 If you want to see the end result of these so-called experiment. Why don't we look at history books 📚😂

except that all governments in the world print money and thus devalue it, unlike fiat currencies gold and bitcoin cannot be printed

LOL! Here is a History Lesson! First they had nothing but commodities to use as Gold, such as wood and salt. That's called barter. Then they realized, wouldn't it be better if I sold my wood and salt instead of having to keep it as my money? So they started using Gold and Silver. Then they realized, they still had the same problem because Gold and Silver are also commodities. Why are we using something valuable that is basically like using Gold and Silver to track the score of a Basketball or Baseball game? We should be using something worthless, such as paper! Commodity and Gold backed currencies constantly failed. Why, because they either kept running out of the commodity or got stuck with too much of it and they became bag holders! Imagine someone with all this gold and nobody wants it! One guy in Japan cornered the Copper Market and then got stuck with all the Copper that nobody wanted! LOL! Before 1971, a depression and poverty hit every 10 years simply because the USA didn't have any more Gold for their ever growing population. In 1776, there were only 2 million people, so they had plenty of gold coins to print and give to people to trade. How many billions of people and coins do you need today? Would you work for 1 gold coin per year? Remember gold is rare and literally finite. In every accounting trade to buy food, you must sell your US Dollar or Gold. You going to buy a burger for a $2000 gold coin? And the same thing happens with gold backed currency because there is finite gold but infinite demand for money. Those countries end up bankrupt because everyone actually wants the gold but there is never enough gold and money. Fiat currency solves that problem because people never fear running out of money in circulation because they know the gov't can always print more. The gov't can't print more currency in gold back currency without literally devaluing their currency.

Gold fluctuated 18.5% in 2022, ranging from a low of $1,678 per ounce to a high of $2,058 per ounce. The US dollar against a basket of currencies fluctuate 10.2%. There are pros and cons for both.

My friend you have it all backwards! It's a CENTRALISED digital CURRENCY backed by ZIMBABWE who SAY it's backed by gold.. So it might as well be digital fiat. How do you trust a Gov that they won't print more than the gold they actually own ? You cant! That's why Bitcoin exists 👌🧐

Well said.

I think gold will only increase in value based on current situations around the world. So i see win win for Zimbabwe.

You funny Haha, how can you compare piper with gold hahaha

Not with the type of dunderheads ruling it.

No country have moved from third world to first world on a golf backed system. The gold standard is for already established economies as it stabilizes the market and doesn't super boost it. Zimbabwe needs high growth not stability

Can I ask if you would trust this system that they really are going to ONLY print the amount of money they have in gold?? IE. Gold held , less the debt owed on it, is worth what?? Anyway just asking because I think unless it's physical gold it's a total waste of time and still fiat. (Faith based money)

​@@ronburgandy1475 Don't tell me you're from US

Is their "digital" gold redeemable? If not then it's like me creating a "Ferrari backed currency" 1 = 1 Ferrari but never redeemable, any buyers?? I'll give you a good deal 100 "Ferrari's" for your house...😅

@@dibyendudas3350 any idiot can see this plan is moronic unless the gold is redeemable. If not then it's like me creating a "Ferrari backed currency" 1 = 1 Ferrari but never redeemable, any buyers?? I'll give you a good deal 100 "Ferrari's" for your house...😅

The white master race is in the comments $hitting on what is a brilliant plan by Zim

But it is a threat to USA.. Remember what they did to Libya and Qaddafi when they decided that they that their currency used gold or backed by gold?

I'm not sure people understand this move. It's a CENTRALISED DIGITAL CURRENCY THAT RELYS ON THE TRUST OF ZIMBABWE to only print what they have in gold!!! It's a com job! Might as well be fiat! Here: 1.Bitcoin is digital can only be owned by holders but VERIFIED by anyone on earth 🌍. 2. Zimbabwe gold digital can ONLY be verified by Zimbabwe Gov, and THEY select how much goes into circulation! I'm not sure people understand why every attempt to make a digital gold backed currency has failed... It's because you still need to trust the party that says they really have the gold! (Just like fiat is trust they will pay back debt)🙈 It's a failure of a project and terrible idew

​@@ronburgandy1475 But isn't that a step forward anyway? At the moment goverments don't even have to lie about gold reserves. I guess the amount of US military in Zimbabwe in the coming months will be the answer. 😂

where is the gold then , not on a piece of paper ?

​@Lanie Rose Mangoda that was that time now everyone knows who a they

And if your social score is too low, or you post something objectionable on social media, they can press a button and your finished. It's a bad communist joke on the ignorant

@@necrophage5248 The currency is not a CBDC it's just a token, so according to your argument if they can delete your token balance which is your bank balance, what can stop them from deleting your fiat currency be it USD or any other currency.

@MUNYARADZI MUPONA your are correct, it's from the top down. Klaus Schwab from the WEF "You will own NOTHING and be HAPPY" "You will eat z bugs" for climate change, while they fly around in private jets eating steak.

And good luck going to a bank and exchanging digital gold for REAL GOLD IN YOUR HAND

How is it different? It's STILL ABSOLUTE TRUST in Zimbabwe Gov. It could be backed by palladium, gold or banana's you're still forced to hold trust in the Gov... Phh wait that's why their current fiat failed, who woulda connected the 2 🙈

​@@ronburgandy1475can they print infinite amount of gold? When you answer that question, there will be your answer, why they will not fail.

@@nikonikolov1075 ok my friend you're missing it... I'll do my best to explain but it's in plain sight, so apologies if I can't explain it very well, but I'll try. (PHYSICAL GOLD is very very very different to digital "backed"). Here's my attempt to break it down better... It's a DIGITAL CURRENCY THAT *REPRESENTS* (Or is meant to) Zimbabwe's gold holdings. So you MUST TRUST that they aren't lying about how much they print how much debt they have and how much PHYSICAL gold they really have. *You tell me how you can be guaranteed they won't tamper with any of those numbers* ??? They did with their fiat system which is why it's worthless. And to drive the point home there is about 100 claims in "paper" or shares/ETFS/gold bonds etc for every ounce of gold that has been mined. So if the world's central banks are able to print "gold backed bonds" that aren't accurate why do you think you can trust Zimbabwe won't do the same??? Hope that answers your question? If not then my best suggestion is to think of it this way: The more transparent something (a monetary system) is the LESS points of contact it has. For example "fiat cash" Has: Fed> Printers> Banks> public user. (And this is a faith based trust fiat system). *Zimbabwe digital gold* : Zimbabwe central bank Gold holdings> Zimbabwe Gov debt against gold held> Printers (digital) > Banks (digital) > public user ^ and because of having to trust all of those points= more chance for corruption/false reporting. This is why Bitcoin has ANY value at all... Here. *Bitcoin* Miner (hard capped 21 million cannot be changed) > public user. See the differences???

@@ronburgandy1475 I get what you're saying, but that argument that "the government will always be corrupt", yeah sure, if u let all the scumbags rule, sure. Listen this is the first time someone does this, obviously I dont know what is going to happen. However you seem to be in the Bitcoin corner. I'm not. So doesn't matter what I say to u, but still I'll say what I think. Bitcoin for me is basically FIAT. And yeah I know its limited and whatever.... it's numbers on a screen. Ofcourse it's gonna be manipulated. Its actually easiest to manipulate. Its not real. So gold backed digital currency, yeah we got to wait and see. However if it works like the dollar,then you get gold delivered to your door, if you don't want the digital currency. Which is gonna be a bit weird, but fuck it why not 😂 So yeah that's what I think and maybe I'm wrong, but history teaches us that gold is true money and wealth.

Good luck getting physical gold in your hand. It's a bad communist joke for the ignorant

Most of the country's are smart , but not all of them are out of their shackles :S

@@toniilievski3934 Then tell them to use the buddy system. As in trade. And yes a lot are still shackled and needs set free. But for some strange reason the world is going backwards 😂.

@@hardtruthhall7235 Its not strange at all , when 10% of the population feel superior to others and want to rule them all , its normal to go backwards all the time. Big things incoming and if we dont get into ww3 we might start moving forward.

If enough countries and people return to using gold as currency there will eventually be a shortage and the world will experience inflation. The amount of gold available fluctuates. In 2022 it went down by 200 tons. Generally the trend is flat to decreasing. Maybe higher prices would increase mining. Not telling anybody what to do but high gold prices negatively affect industries that depend on gold like semiconductors. Do we want to use necessary minerals for money? According to a 2019 report by the Peterson Institute for International Economics, about 60% of countries engage in some form of currency manipulation. One advantage to paper currency is that it is NOT a commodity. The country issuing the currency can adjust the amount of money in circulation to moderate inflation and depressions. This of course is coupled with interest rates.

Suddenly, everyone has a degree in economics! So, gold worths less than paper money then we are explained that Ghadafi and Saddam Hussain killed and their countries ransacked because they had wanted go back to the gold standard system. How contradictory are these statements!

We learned about paper money in government class about 100 years ago. Learned about the gold standard and silver certificates. No idea what they are teaching now.

@@danharold3087 Woke ideology and LGBTQ Agenda.

So true 👍

Terrorists had more gold and silver..price of gold and silver should fall and government should grab Terrorists gold....Banks should adjust funds with other banks

People are waking up. The U'S' dollar can not continue to be the standard/default currency of the world.

Facts

And selfish leaders

Thank you for giving this economic situation the full context. Zimbabwe refused to allow the COLONIZERS to keep them Enslaved in their own land. America put the sanctions on them because they are a 🤚🏻 Nationalist APARTHEID country that tries to subjegate the global South especially Africa.

​@@lf1496 USA is a greedy Corporation backed by oligarchs

As a Zimbabwean I approve this assessment

🙄🙄🙄🤦

Yes human rights are violated hard and it's a tribalist gvt ....other Tribes are sidelined we hope it will change for every one regardless of tribe

Basically the Fractional Reserve problem will always return unless there is a resistance mechanism

Thinking is a skill. When you use your bank card to pay at the supermarket what currency did you use? Did cash pass from your bank to the supermarkets bank. Answer no Numbers were transfered. Digital numbers to be precise. Digital currency. Open your eyes and stop being lied to. There is nothing new here

​@@ephraimsimabledon't mind him. His primary source of information is state television

It's probably a a thin film of gold.

It’s a scam. We have never used it.

​@@inzodarello7251 what scam are you crazy

Exactly, fake gold currency

No no no. It was crushed because of corruption.

@@ephraimsimable Look up President Clinton’s crusade on behalf of European ancestry farmers, the never ending economic sanctions that followed, crushing the economy and from that point on, the economy collapsed and never recovered. Let’s stick to facts, not opinions.

Virtual gold is risky - if they can't keep inflation in check 😅 Virtual gold in principle is very good and safe,as long as government holds their gold reserves and don't scam their people. I know current banking system is quite similar to that, in that they lend more than they have. But this could get worse.

I'm not an expert. In fact I don't know a shit about finance system but I know one thing. Zimbabwe at the first place need to get rid off corruption, increase education and infrastructure. Then and only then can slowly become more successful and nothing on earth especially experimental currency cant help them. We will see it soon

The best strategy to use in trading is to trade a professional who understands the market quite well, that way maximum profit is guaranteed. Because I have learned along the way of my investment that research and analysis are important, note that experience is more needed, than luck when it comes to the financial market.

Yeah you're right, most times it amazes me greatly the way I moved fro an average lifestyle to earning over $62k per month, utter shock is the word. I have understood a lot in the past few years to doubt that opportunities abound in the financial markets, The only thing is to know where to focus.

@@mickyjordan2493 Wow buddy, that's more than a mouthful of profits you're making. How do you achieve this feat consistently? You must be a genius in trading.

Anyways not actually, what I know about trading almost not much . I make huge profits on my investment since I started trading with an Expert, her trading strategies are top notch coupled with the little commission she charges on her trade.

*I have my funds very well diversified, though I did it using copytrading system from the advisor "Maria Morgan ",a FINRA licensed and regulated broker from the ULCA Anderson in the US.

buy silver, lot cheaper,.. one tenth oz of silver is great for daily use. bitcoin also can be used

​@joseph Mally how do I possibly reach out to this trader as well please 🙏🙏

I would advise you seek professional assistance because creating a strong financial portfolio is more difficult if you have no experience.

Making touch with financial advisors like Margaret Burwell who can assist you restructure your portfolio would be a very creative option.

I agree with you! With her help, I diversified my 25k portfolio among different markets during this bearish market period.

She's extremely knowledgeable about the market and has made a lot of profitable trades.

Please could someone kindly leave the details of this investment analyst here?

Your lack of confidence won't change shhit pamhhata

Agreed,- it’s still just playing games.

Because the Modi government does not like it..,… Very plain to see…