Zimbabwe Introduces New Gold Backed Currency

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Zimbabwe has dealt with MAJOR inflation over the years, including one period of hyperinflation when bread ended up being 10 million Zimbabwean dollars.
So once again, they’re dealing with it and their currency has lost so much value that they’re just making a new one, this time backed by gold, in the hope that it will keep stable.
The ZiG is set to be in circulation in just a couple of days, so what do you think? Will this work for Zimbabwe this time around? Should your country implement a gold backed currency?
➡️Read a transcript of this video here:
🗣️Let’s get this money!💰

Опубликовано:

4 окт 2024

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Комментарии : 29

@Sebastienobi 5 месяцев назад

Atleast they tried again and again and again....this african mentality...we dont give up ..proud of Zimbabwe

@MrJamaicanLion 5 месяцев назад

Thanks for the "history lesson." However, your assessment does not include the assault on the Zimbabwe government by nefarious forces. Nevertheless, I suspect many forces would naturally oppose gold-backed African currencies because it would put Africa on a firmer footing, so of course, they would criticize it without providing a deeper analysis of its viability. Most developed countries have two sources of power: gold reserves and/or military might. Africa has enough gold under its feet to back its currencies. I would love to hear YOUR take, rather than a repetition of other media (propaganda scripts)

@WilsonMatenga 5 месяцев назад

You're against us lady

@LiamLiams 5 месяцев назад

Gold standard is the way

@BJamnes29 5 месяцев назад

It's seems you are selective in your analysis. Why did Zimbabwe drop using their own currency, that tells you exactly who the problem of Zimbabwe has been. Please do you reach before just making a video. How much is the US$ truly worth, since they are printing trillions but the US$ is not affected why is that. If 85% of trade in Zimbabwe is in US$s, it's being warned from exports and production. But when the media publish a narrative that since the whites were kicked of the land automatically Zimbabweans lost discipline of the economy, that should teach you who is truly undermining the Zimbabwe currency.

@jiaweike3518 4 месяца назад

This is amazing. A great news for Zimbabwe. I remember my Zimbabwean friend moved to New Zealand with his family seeking a better life. Now he can visit Zimbabwe again and feel richer. Just hope their government don't print too much money too quickly. But it wouldn't really matter; because countries can still survive under hyper inflation. Because People can trade and barter without money.

@EltonMunyama 5 месяцев назад

What's your point here, are you saying the Zig has failed before it's in circulation, are you trying to discourage us from using it. What's the commodity that backs the us dollars

@Sebastienobi 5 месяцев назад

That was also my question

@jimmycricket5366 7 дней назад

Well, it was obviously never actually backed by gold as promised. It seems it was backed up by the hot air of politician's breath. Proof? The proof is that even as the gold price surged by more than 25% over this period, the Zig actually LOST VALUE! 😂😢 OBVIOUSLY it couldn't have been backed by gold, could it?

@PoppieSmit 5 месяцев назад

The economy should stabilize and should be more manufacturing and trading globally, not only the currency issue

@theinvestmentcorner4914 5 месяцев назад

Try telling the US they can't make up money and just print.

@akoben 5 месяцев назад

No, they can't, even the mighty US. That's why there's high inflation now, and they are trying to blame everything except the magic money printer. Just like inflation helped to destroy the mighty Roman economy, if the mighty America isn't careful, the same fate awaits

@akoben 5 месяцев назад

Nice blouse

@TheMusic2000Man 5 месяцев назад

I love how this channel helps me to stay current with international financial news.

@ouparamoba6715 5 месяцев назад

Travelling to Zimbabwe is stressful for South Africans because the US dollar is not friendly to the ZAR at all, I hope the ZIG will have a better exchange rate. It's not a good idea to earn money in rands here in South Africa, then cross into Zim and use your rands to pay for goods and services that are priced in US dollars. I paid R700 in Zimbabwe for goods which cost R150 in South Africa, it's crazy.

@DonaldBrown-z6s 5 месяцев назад

This is the 1st of all countries to eventually have commodity backed currency. All fiat currencies inflate. They last about 50 years. Ours was created in 1971. By by federal reserve note