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Zimbabwe Launches New Gold-Backed Currency: Will it Work? | Vantage with Palki Sharma

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Zimbabwe Launches New Gold-Backed Currency: Will it Work? | Vantage with Palki Sharma
Zimbabwe's central bank launched a new "structured currency" backed by gold. This comes as it seeks to tackle sky-high inflation and stabilise the country's long-floundering economy. The ZiG - short for Zimbabwe Gold - will replace the Zimbabwean dollar which has tumbled in value over the past year, pushing inflation through the roof. Zimbabweans have 21 days to convert their old cash into new money. But analysts have questioned the move. They ask whether the country has enough reserves to adequately back the currency, There are also doubts over volatility of gold prices. So will this new currency work? Palki Sharma tells you.
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Zimbabwe | New Currency | Gold-Backed Money | Zimbabwe Dollar | Economy | Firstpost | World News | Vantage | Palki Sharma
#zimbabwe #newcurrency #goldbackedmoney #zimbabwedollar #economy #firstpost #vantageonfirstpost #palkisharma #worldnews
Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.
The show is anchored by Palki Sharma, Managing Editor, Firstpost.
By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories - making Vantage a destination for thought-provoking ideas.
Vantage airs Monday to Friday at 9 PM IST on Firstpost across all leading platforms.

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Опубликовано:

8 апр 2024

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Комментарии : 1,4 тыс.

@ronaldwilson6295 4 месяца назад

Congratulations, Zimbabwe! You are a rich country, full of good people. It is time for you to shine.

@Sataka23clips 4 месяца назад

The corruption is too much it won't work trust me.

@jimmycricket5366 4 месяца назад

There is no confidence in those running the finances of the country. It's as simple as that. There isn't a troll or tokoloshi actively sabotaging with a mean expression on its face just out to somehow destroy all the currencies they try. Currencies are all about confidence and trust. Major trust deficit. Also a pathetic two tonnes of gold that hasn't been externally audited. Why? They could have said backed by a hundred tonnes. No difference just words. Talk, talk, talk. Useless talk.

@Droggo972 4 месяца назад

😂😂😂😂

@alyu1129 4 месяца назад

Even more full of emotional, uneducated, lazy, tribalistic and corrupt hacks.

@burgersandburnouts 4 месяца назад

Bruh , this is jokes man🤣

@RastaAfricanGentleman 4 месяца назад

It worked. For the first time in my 40 years living in South Africa, Zimbabwe our neighbour has a currency (the Zig) stronger than ours (the Rand). Well done neighbours, all the best

@frankyyaggabot6222 4 месяца назад

You cannot make that claim on the basis of a few days. The currency may work so long as there is gold there and they don't start printing the currency as the solution to every problem. They will also have to check the gold reserves regularly because Zimbabwe wouldn't be the first African country to have claimed to have utilised gold in trade when non existed (Goldenberg Scandal - Kenya).

@Sataka23clips 4 месяца назад

@@frankyyaggabot6222after the aljazeraa documentary . This country is doomed.

@frankyyaggabot6222 4 месяца назад

@RichardCollins-kn4tx Well I guess the 1/3 of Zimbabweans that live outside of Zimbabwe will return then?

@RastaAfricanGentleman 4 месяца назад

@@frankyyaggabot6222 Imagine Immigrants in America going back home, the odds of that are minimal to none. So Zimbabweans already outside Zimbabwe have no desire going back...I didn't make a claim its actually reality and hence the reporting of the news. The Zimbabwean Government in the past months had been auditing their gold reserves for this initiative. And lastly it is a fact that their currency hit a first time record against South Africa in years. I do understand the future is uncertain and that it may change pending on how the global community supports or destroys them

@RastaAfricanGentleman 4 месяца назад

@@Sataka23clips In South Africa there are worse and bigger levels of corruption and smuggling of resources than Zimbabwe but it is amongst the 3 biggest economies in Africa. South Africa even has illegal armed miners no different to Nigeria and their armed illegal oil smugglers. Zimbabwe is doomed because of illegal sanctions coupled with corruption

@wolfmangoland7972 4 месяца назад

Time for Zimbabwe to shine. The hardworking and talented people of Zimbabwe deserve it. Love and good wishes from India

@burgersandburnouts 4 месяца назад

🤣🤣🤣🤣🤣🤣🤣🤣 jokes

@michaelmaps2004 4 месяца назад

Thank you

@Felled-angel 4 месяца назад

Imagine being given fully functioning farms for free only to turn it into a desert in 6 months 😂😂😂 hardworking is such a devalued word (pun intended)

@MSDGroup-ez6zk 4 месяца назад

@@burgersandburnouts nah. it is quite easy to understand. The USD is backed by oil. That's why the number of cars in 1970 were only 200 million and now 1.4 billion. Thus Gold should work like that way and in the same time reducing the need for oil. That's why the USA has put intensive for car makers not to buy EV and keeps ICE cars.

@cousinheat 4 месяца назад

Like EVERY other country that the west is involved in, until TRUE independence from the leeches of the planet over the past 4000 years or so are dependent on their OWN instead of aggregating its life form from a piece of every other culture

@DragonFrootJuice 4 месяца назад

Way to go Zimbabwe 👏👏👏 Much love from India 🇮🇳

@heaty007 4 месяца назад

Thank you india

@solo.108 4 месяца назад

I hope we get Zimbabwe cricket in international cricket

@DragonFrootJuice 4 месяца назад

@@solo.108 but don't they already have a international cricket team for both men and women?

@reubenbensonmbedzi9000 4 месяца назад

Are you realizing that you are actually saying 'way to go Mafia Vietnam have just sentenced a Woman to death for finance plunder! Read ALJAZEERA GOLD MAFIA episodes and realise what you stand for!

@Ismael-isa 4 месяца назад

It won't work.how much gold reserve do they got?

@davidpineiro7269 4 месяца назад

Be careful Zimbabwe the USA does not like gold backed currency

@ainz1325 4 месяца назад

US has the most gold reserves country in the world wtf u sayin

@davidpineiro7269 4 месяца назад

@@ainz1325 but it is not backed by gold

@winnethdubeoly 4 месяца назад

We do not care . We won't be US state number 68

@winnethdubeoly 4 месяца назад

@@ainz1325 You mean the one they have been mining in Zimbabwe, South Africa and Ghana and other countries?

@davidpineiro7269 4 месяца назад

Remember what happened to Gaddafi after he created a gold backed currency

@GmanSach 4 месяца назад

This will work. May All Be In Pure Alignment For Zimbabwe 🇿🇼

@BillyP13 4 месяца назад

Another stupid quest by a feeble ,corrupt government.

@SigmaMaleCountMartelus 4 месяца назад

Bitcoin would have been a better choice, but this is a good moves. The US Dollar was peg to gold until Nixon unpegged it to finance the Vietnam war to enrich the armaments industry.

@jbrown6367 4 месяца назад

😂 LMFAO

@putrapratama-sq8hu 4 месяца назад

in short term yes... in a medium term, they will be toasted if they didn't fixed domestic production of consumer goods and finding sustainable energy partners that wanted to invest in them...

@andrewharris3900 4 месяца назад

All you have to do is trust the Zimbabwean government to keep enough gold in reserve 😂. Best of luck.

@ommydallas4274 4 месяца назад

I think it will work very well, Zimbabwe leaders already studied it. Without doing it you can't get the results and I guess more countries will follow soon. Even though Gold has no stable price but it keeps its value high...Go Zimbabwe. Trust your leaders and financial professionals..Challenges are there for people of Zimbabwe but you gonna pass them all.

@rascocky6366 4 месяца назад

Do you know what's happening right now in Zimbabwe? The very government which introduced that currency refuses to accept it as a legal tender for payments in it's own offices - passports only in US$, the ministry of foreign affairs only in US$, registra general (birth certificates, ID cards, Only US$,!! These are departments are I know 100% that they are not accepting the new currency. Banks as well. We will see who else. So how do you expect that currency to succeed?

@mrnadio7491 4 месяца назад

It is a wise idea. Unlike in Nigeria where the leaders seem to be confused. You have to keep trying new things till the desired result is obtained.

@davidopsina3871 3 месяца назад

This is an idea of how to use the new currency. 1. Take ZIG out of wallet. 2. Wipe anus with ZIG. 3. Throw used ZIG in toilet. 4. Flush

@shailendrasinghpatel1427 4 месяца назад

Zimbabwe don't need blessings they actually need a good person who have knowledge of economy

@ronaldessel9095 4 месяца назад

It's not true that Zimbabwe is the first country in the 21st century to do gold standard. Ghana's currency is backed by gold and the government is buying more tons of gold to back their currency. It's the 4th strongest currency in Africa.

@rugendorunene545 4 месяца назад

I disagree... Ghana currency is the Fourth most valuable in African Continent.

@IK_MK 4 месяца назад

It's dangerous to be too intelligent in Zimbabwe

@davidprice4003 4 месяца назад

How does this woman know how much gold Zimbabwe as got??

@leonfrancis3418 4 месяца назад

No, Zimbabwe needs the West to stop sanctioning it. Stop the BS.

@soul2soulhealth 4 месяца назад

Go Zimbabwe!! This is a very smart move in my opinion. This is how the whole world operated before the federal reserve.. Precious metals like Gold will never lose their value and I would think has a much better protection against inflation... I hope it works and think it will!

@geniusnoble842 4 месяца назад

Its not gold backed because you can't convert the ZiG to gold. When a currency is backed by gold it needs to be convertable to gold.

@blockbastermovies3155 4 месяца назад

Go back to school and study economics it's gold backed because each paper is equivalent to curtain gold so if you buy a car in Japan the reserve bank will issue a bond if they don't want it they just send gold instead @@geniusnoble842

@dannyarcher6370 4 месяца назад

@@geniusnoble842 No, it doesn't. It just means that the supply is limited by the amount of gold on hand. If you want to print more money, you have to go mine more gold.

@victortakunda5443 4 месяца назад

@@geniusnoble842Don't be a lier and spread silly lies, you can convert the ZIG to gold.

@victortakunda5443 4 месяца назад

@@geniusnoble842Don't be a lier and spread silly lies, you can convert the ZIG to gold.

@xa3558 4 месяца назад

Congratulation to Zimbabwe ! We hope India will follow and print the currency with gold❤

@mthimkhulu30 4 месяца назад

Why is she lying because Zimbabwe has only 2 currencies the Rand and the USD and no other currencies. She says Zim has no gold but you see gold everywhere in Zimbabwe

@jimmycricket5366 4 месяца назад

@@mthimkhulu30Then why is it so poor? Gold is hard to mine.

@celestiallydivine 4 месяца назад

I am so happy for Zimbabwe! Praying for all the best for my brothers and sisters in humanity ❤️

@garyjohn1822 4 месяца назад

Well done Zimbabwe Great move wishing you all the Best

@sergenalishiwa9097 4 месяца назад

Zimbabwe has way too much gold. They just need to mine it.

@Olcool 4 месяца назад

Where is the gold? Zimbabwe doesnt have gold enough for that much currency. Tinozviziva izvo isu ma Zimbabwean. Nothing new for us.

@petersonchiteta3345 4 месяца назад

@@Olcool Gold ririmo zvaro boss, it just being externalized without accounting for it pakupedzisira hatina chatinowana sema ordinary citizens

@SeanBeatsMapson 4 месяца назад

@@Olcool13 million tonnes of gold in the ground buddy. Why USA always tries to destroy Zimbabwe

@jimmycricket5366 4 месяца назад

@@OlcoolExactly all these ignoramuses just commenting on wishfulness. God cannot be mocked, you reap what you sow.

@jimmycricket5366 4 месяца назад

@@SeanBeatsMapsonLoad of rubbish. Do you think gold just bubbles out the ground? South Africa has at least ten times more gold than Zimbabwe.

@amohammed3390 4 месяца назад

Big up Zimbabwe. All African countries have to follow the suit

@benjamimmapossamapossa3081 4 месяца назад

Well done Zimbabwe. Keep working hard

@SeanEustace-zk3mc 4 месяца назад

What are you guys going to go get your old Zimbabwe bucks? I got a feeling his gold standard is going to wreck your chance of being as a “Zimbabwe billionaire.”!😂 best of luck from America. Good move.

@user-wq5jz9di9z 4 месяца назад

It will work gold is the real money

@jimmycricket5366 4 месяца назад

No external audit has been done and it's only two tonnes at maximum. Also just talk, talk talk. Do you simply just believe whatever they say when they have terrible economic history of corruption and a massive trust deficit?

@bev8200 4 месяца назад

It’s a rock

@Greenby-vq4wo 4 месяца назад

Having a rock is better than having something of value you can't see

@bev8200 4 месяца назад

@@Greenby-vq4wo they are both of zero value

@bev8200 4 месяца назад

The only real currency are people

@user-em6bh4up3b 4 месяца назад

Thank You Palki Sharma for always taking about what is happening in Africa. Best journalist

@Quranicharmony816 4 месяца назад

Zimbabwe full of gold and diamond .

@conquerorvictor5072 4 месяца назад

Keep up Zimbabwe.

@Mohamed.B.Shour525 4 месяца назад

Congratulations to Zimbabwe currency

@user-jv5ph4ro1k 4 месяца назад

It will work for Zimbabwe. Love from 🇳🇬

@LindaMateri 4 месяца назад

I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Charity Jade.

@AntonTheGreat-eo8kx 4 месяца назад

Wow. I'm a bit perplexed seeing her been mentioned here also Didn't know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.

@MuhammadSaleem-ip2wy 4 месяца назад

She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.

@Antoniovieira-kt3ym 4 месяца назад

The very first time we tried, we invested $1000 and after a week, we received $4830. That really helped us a lot to pay up our bills in my family

@JayHennigan-o 4 месяца назад

I'm new in this, please how can I reach her?

@LoganJorgensen-dx6px 4 месяца назад

You trade with Charity Jade too? Wow that woman has been a blessing to me and my family.

@Abdi-zv6ex 4 месяца назад

This will be a good idea if Zimbabwe has a lot of gold reserves. South Africa has a lot of gold and Zimbabwe is a neighbor so it must have a lot of gold otherwise, it would be based on its currency gold.

@CorpusChristi-j8x 4 месяца назад

There is 13 million tonnes gold reserves in the Zimbabwe. Alm it needs is mining it

@jimmycricket5366 4 месяца назад

@Morelife22 nonsense!

@sylvesterekpenyong4555 4 месяца назад

You will be shocked on the amount of gold reserves in Zim as long as they don't get the EU and US crooks in there... They will be an economic power to recon with in Africa.

@jimmycricket5366 4 месяца назад

@@sylvesterekpenyong4555 dream on! Dreams don't make wealth. Righteousness, hard work, humility and good planning make wealth.

@jimmycricket5366 4 месяца назад

@@sylvesterekpenyong4555 If there really is so much gold in Zimbabwe then why are the people so poor? Simple question for you. There are no trade sanctions either. The small amount of gold produced in Zimbabwe goes mostly to the LBMA in London. Again, why the poverty?

@jonalusboris213 4 месяца назад

Love u my Zimbabwe people,🇨🇲

@Unknown_Soldier_2 4 месяца назад

It's Cameron Flag

@jimmycricket5366 4 месяца назад

😂🤣😂

@clarasibanda4298 4 месяца назад

We love you too darling ❤❤❤

@renarenatah4198 4 месяца назад

Congratulations Zimbabwe 🇿🇼 sending love from uganda 🇺🇬

@cat-tanungansabuhay9574 4 месяца назад

The Gold in Zimbabwe is shining.

@leonfrancis3418 4 месяца назад

Great for the Zimbabwe people. I'm not sure this woman was the one to discuss this topic. She seems ignorant of the geopolitical factors affecting Zimbabwe.

@rajsrivastav6940 4 месяца назад

this wasn't really necessary just just shut the money printing machines and the watch the currency appreciate in value. It's simple Economics....scarcity increases value......

@user-rn2zb6be1u 4 месяца назад

They will probably turn on the money printer without having the required quantity of gold.

@macauthurvolkoff 4 месяца назад

I don't remember any currency circulation more than Rand and USD... ruppee, nooo... I'm Zimbabwean and I don't know any of that.... we know we're struggling but that's too much to add... Rand, pula they work not much though but I places near boarders... pounds, not really circulating.... Chinese and Japanese yuan ain't circulating too...

@user-bf8pl5os4z 3 месяца назад

God bless Zimbabwe, let's support our leaders ❤️ we continue to pray for our leaders for wisdom from above

@manasseskamau5327 4 месяца назад

Zimbabwe has enough gold to stabilize their currency.

@Sataka23clips 4 месяца назад

Go watch aljezera documentary about the gold mafia😂😂

@manasseskamau5327 4 месяца назад

@@Sataka23clips I watched it but it does not in any way change the fact that Zimbabwe has enough gold to use as a standard for her currency.

@jimmycricket5366 4 месяца назад

@@manasseskamau5327Integrity is the best gold. Without integrity and honesty you have absolutely nothing.

@mechailreydon3784 4 месяца назад

I want to be optimistic but a more stable currency doesn’t necessarily mean greater economic productivity or better governance.

@novelakengwilingwili4080 4 месяца назад

Thank you Zim. Forget those who know all. Just make sure you look for honest mining companies and ensure contracts that benefit your country at your country's terms. Do not allow yourselves to lose focus due to a lot of challenges that you have presently. It is the wealth that surrounds you that cause all the storms. If you look away pasop!

@user-fi1si3iq4p 4 месяца назад

Well done Zimbabwe 🇿🇼 God bless you .

@bradleyh1964 4 месяца назад

Fantastic news the first country backing its currency with Gold, more will follow, a death nail for the over printed Fiat USD. Well done Zimbabwe about time someone stood up to the USA.

@nohandlegoldk 4 месяца назад

Zimbabwe is just begging for "Democracy"

@neilnelson7603 4 месяца назад

😂😂😂😂

@rashathor4878 4 месяца назад

😂😂😂

@pmaitrasm 4 месяца назад

😂😂😂

@leonfrancis3418 4 месяца назад

Like the Democracy that went running out of Afghanistan with its tails between its legs and leaving behind 8 billion dollars of equipment? Too many Americans live in a past where their military could do whatever it wanted.

@anthonyajibolaomoruyi8054 4 месяца назад

Maybe going back to "trade by barter" could be a better option.

@Hotdogytbe 4 месяца назад

As a South African, i want to see my Zimbabwean brothers win. Africa as a whole should win because we have the resources, its about being smart enough to do something about that.

@anderson1mazorodze936 4 месяца назад

Thank you Palky for noticing our beloved country

@wahalawahala5258 4 месяца назад

It amazed me how one country can cause so much havoc and suffering for others for no apparent reason. This needs to stop

@robertredford772 4 месяца назад

I am asking myself the same question

@dsstudios5425 4 месяца назад

Zim was married to Britain then divorced late 80s the war can't stop because Britain is so jealousy can't let Zim go free so it create all problems and challenges for such a small county because, Zimbabwe is very rich in minenals google the great dike of Zimbabwe that is what the war is about and good farming Land, when you see big countries pursuing such a small Nation know that it's rich.

@dreamdiction 3 месяца назад

@@dsstudios5425 The only problem in Africa is Africans themselves.

@moiseulpasmoi 4 месяца назад

Kenyan here Zigi is a slang term associated with weed. Each time she says that I can’t think of anything but😂😂😂

@martthesling 4 месяца назад

Golden Zig 🪴

@sharjeelali1242 4 месяца назад

Faya bun dem all

@jimmycricket5366 4 месяца назад

Sounds about right. Hallucinations based on words.

@jimmycricket5366 4 месяца назад

Sounds about right. Hallucinations based on mere words.

@egavasenoynot1 3 месяца назад

as a zimbabwean i can say we are cruising nicely things are now going well

@andrewpjjuuko1737 4 месяца назад

As we reflect on Zimbabwe's many currency failures, can we talk about the decades of crippling US-led sanctions on that country?

@jimmycricket5366 4 месяца назад

What? Zimbabwe still has full trade with all Western countries. I just saw blue berries grown in Zimbabwe in a London store. What weak sanctions if any actually exist.

@kazenezatvshow4095 4 месяца назад

Waooo congratulations dear brothers n sisters from Zimbabwe it's time now to shine🔥🔥🔥👏👏👏👏

@pstnzioks. 4 месяца назад

Congratulations Zimbabwe

@legend_m1016 4 месяца назад

Zimbabwe keep trying, if it doesn't work they try something else. Now that's intelligence.🎉❤

@Chery869 4 месяца назад

I truly hope the Europeans countries and USA don’t swoop in to counter attack Zimbabwe’s economy because of using gold to help themselves.❤

@taylormattlock5433 4 месяца назад

Pegging currencies to a fiat currency (United States Dollar) removes the necessity to have as much goal as possible to become a wealthy county. Or has Africa already forgotten the reason the colonist came in the first place. Only a few countries have enough gold or gold mines to survive a switch to gold, which is why those that do would be in fear of colonialism if they aren't strong enough.

@obinnaezealah2465 4 месяца назад

This is about Zimbabwe, not "Africa".

@taylormattlock5433 4 месяца назад

@obinnaezealah2465 either or my comment stands, right? Use your brain to think harder next time.

@UPAKHOSALA 4 месяца назад

stupid comments. in one hand u admit usa dollar is a fiat currency yet u r Criticizing that very few countries have gold reserves, so u r contradicting urself idf gold currency is nit follow ed. then accept the US DOLLARS @@taylormattlock5433

@obinnaezealah2465 4 месяца назад

@@taylormattlock5433 You're the one that needs to use your brain.

@kreight_ 4 месяца назад

It might be the case that a country has easier access, i.e., supply, to gold than to a stable foreign currency to maintain the value pegged. I do wonder how Zimbabwe will get the gold to do this… as an alternative I would guess China might have had an interest in providing shiploads of yuan to sustain the peg (probably at the cost of the gold still to be extracted)

@Hypocritial 4 месяца назад

It will work provided they have gold reserves. They can shore up gold reserves by rising productivity. Wish good luck to Zimbabwe

@ontheway172 4 месяца назад

Zimbabwe Did the Great work. Congratulations From Srilanka 🇱🇰

@Kanvers_Martian 4 месяца назад

Backing your currency on the USD is madness all currency should go to the gold standard

@carribgirl007 4 месяца назад

Best wishes to you Zimbabwe

@tombombadil66 4 месяца назад

Good luck with this Zimbabwe..it's a sensible move imo..not sure the printers in the rest of the world will keep up.😂

@SidumoNgetu 4 месяца назад

America government is doing everything in their power to keep Zimbabwe poor and dying of starvation how cruel and evil is that. Press Mugabe said keep your America and I will keep my Zimbabwe.

@optimusprime5794 4 месяца назад

They've got the Ziggy Marley currency. All hall Bob Marley 😂

@celiajames600 4 месяца назад

It will work ❤ 🇿🇼

@andyobi6085 4 месяца назад

Amen I believe it, if Nigeria can wake up and get rid of their elderly confused leaders, things can get better

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@SinaAla 4 месяца назад

As a Nigerian I am SO PROUD of Zimbabwe 🇿🇼. I really hope this works and they set an example for the rest of Africa

@jimmycricket5366 4 месяца назад

It will fail unless they turn to righteousness. Waaaaaaaay too much corruption as usual. No external audit of the gold. Too little. Useless.

@TheWinezen 4 месяца назад

I wish Zimbabwe all the best. Even a gold backed currency with all its shortyfalls is better than what the Zimbabwe dollar is now.

@hanadomar879 4 месяца назад

Vantage markets well done

@m.k.s.7417 4 месяца назад

I hope; that: it will!!!!

@samuelt.kisaame7787 4 месяца назад

Gold is one of the factors which stabilize currencies but it's not the Silver bullet to the problem of currency devaluation so to speak. Zimbabwe needs to have a vibrant Private Sector as well as maintain the Supply and Demand curve. These two factors are acutely lacking in the Zimbabwean case. There are other factors to be considered too which if not addressed, that country will slide back to economic malaise.

@jimmycricket5366 4 месяца назад

Exactly! Wishing-well positive-thinking blessings are useless!! Zimbabwe has a massive trust deficit. Where is the external auditor for this so-called gold? An internationally-accepted auditor is needed. If a team from PWC or similar came from Johannesburg with approved assayers, that would certainly help. Also, Zim used to have five tonnes of gold from independence, which gave stability to the currency but it was all sold in the 2000's. How is the currency gold backed if a person can't redeem the zig for actuall gold? It appears to be just talk.

@samuelt.kisaame7787 4 месяца назад

@@jimmycricket5366 @jimmycricket5366 Good question. One must also consider that the Gold Standard was abandoned in 1971 by the US under the Nixon Administration therefore making the US Dollar, which is the international reserve currency just that - a currency, meaning it is suceptible to volatility occasioned by market forces. Luckily for the Americans, they have a strong economic base in the Private Sector which, among other things cushion against the depreciation of the Greenback. Therefore, whilst there's goodwill for Zimbabwe's new currency, there remaims a lot to be put in order in its economy e.g the creation of a vibrant manufacturing sector, a good fiscal policy, the eradication of budget deficits and the need to obtain a favourable Balance of Trade, for the country to have some form of currency stability. Otherwise it will slide back into the days of hyperinflation and currency depreciation again. It will only be a matter of time.

@samuelt.kisaame7787 4 месяца назад

@@jimmycricket5366 Good question. One must also consider that the Gold Standard was abandoned in 1971 by the US under the Nixon Administration therefore making the US Dollar, which is the international reserve currency just that - a currency, meaning it is suceptible to volatility occasioned by market forces. Luckily for the Americans, they have a strong economic base in the Private Sector which, among other things cushion against the depreciation of the Greenback. Therefore, whilst there's goodwill for Zimbabwe's new currency, there remaims a lot to be put in order in its economy e.g the creation of a vibrant manufacturing sector, a good fiscal policy, the eradication of budget deficits and the need to obtain a favourable Balance of Trade, for the country to have some form of currency stability. Otherwise it will slide back into the days of hyperinflation and currency depreciation again.

@thatchinaboi1 4 месяца назад

Firstpost is obviously one of many mouthpieces of Adani Corp, who is beholden to Western Powers.

@rugendorunene545 4 месяца назад

I Support Zimbabwe and it's Resolve.

@hellslayer9638 4 месяца назад

Maybe this is most interesting moment in the history of modern money , maybe it can be the starting of gold backed currency just maybe

@ibrahimmekpagili8999 4 месяца назад

Thank you Pulki. U are even a better Economist than most Central Bank Governors.

@lwandotame6325 4 месяца назад

Game changing move Zim ❤❤❤. Slowly but surely. This presenter is telling those who dont know that Zim has just defeated the USA sanctions that caused their previous economic situation. Let's go ZIM!!!

@MariaRichter-lv3bv 4 месяца назад

Good news, congratulations.

@halfnelson6115 4 месяца назад

ZiG. I like the name. "You owe me 10 ZiGs." 😅

@SewingWorkshops 4 месяца назад

I’ll collect my 10 zig bro

@JulieG-dr2wv 4 месяца назад

Sounds like they need some freedom 🇺🇸 🦅

@maricel4083 4 месяца назад

Focus of farmers and crops bot money. Kasi may tendency pag di kaya nang oras ayusin ang karagatan for your trading stop trade okay. Food. Yan lang

@eliyahudbenperetz1615 4 месяца назад

Show the Gold. Inside the politicians foreign accounts😂😂😂😂😂

@jimmycricket5366 4 месяца назад

Exactly! A history of currency mess ups means Zimbabwe has a massive trust deficit. Where is the external auditor for this so-called gold? An internationally-accepted auditor is needed. If a team from PWC or similar came from Johannesburg with approved assayers, that would certainly help. Also, Zim used to have five tonnes of gold from independence, which gave stability to the currency but it was all sold in the 2000's. How is the currency gold backed if a person can't redeem the zig for actual gold? It appears to be just talk.

@user-uz3jm9yy9z 4 месяца назад

Why does it pain you so much that a country is minding it's own business? You have been making so many negative statements as if this issue shoved a bee up your backside. Mind your own business. I doubt that you even know Zimbabwe that well. I for one am a Zimbabwean and I'm feeling positive about what's happening.

@eliyahudbenperetz1615 4 месяца назад

@@user-uz3jm9yy9z congratulations, good for you.

@jimmycricket5366 4 месяца назад

@@user-uz3jm9yy9z The track record is not great my friend... Six iterations or currency resets within twenty years is unbelievable. It may represent the greatest sustained economic destruction in human history, and I'm being serious. You cannot expect people to gain faith overnight. It will need five to ten years of sustained currency stability for people to say, okay now this could be a credible situation. Also, not every single little hiccup can be blamed on the West. In fact the irony is that right now the West is the single biggest block for both diaspora economic refuge and remittances which are helping to keep relatives alive back in Zim. It's a sad reality. I'm hopeful it will change but it needs the right political will. Let's pray.

@tyqwanpettty6843 4 месяца назад

Zimbabwean need to make gold also legal tender

@mistermood4164 4 месяца назад

Nah it better to keep it pegged to gold and store gold in reserves and exchanges

@user-yv7cs8og5w 4 месяца назад

Why didn't they start off with US$ 1 = ZIG 0.50 Giving inflation and devaluation, say 500%, could become US$ 1= ZIG 3... After all, Zimbabwe is largely an import dependent country. As they move to more export, they could devalue the currency by even 1000% to make export cheaper

@nattyp7801 4 месяца назад

Your reporting never changes,no mention of external involvement factoring into the destabilization of the Zimbabwe economy .

@african-history-fountain 4 месяца назад

Exactly. She sounds like a spokeswoman for imperialists.

@dreamdiction 3 месяца назад

The only problem in Africa is Africans themselves.

@lemogangpitsoe8592 4 месяца назад

Maybe ZAR is teh way to go

@chi-jenyang9752 4 месяца назад

It will simply repeat the history of Chinese gold yuan in 1948.

@thetravelingfoodshow 4 месяца назад

What happened, pls inform me?

@AYTM1200 4 месяца назад

Tell us, I don't believe a gold standard will help but what exactly happened in China ?.

@chi-jenyang9752 4 месяца назад

@@AYTM1200 From August 1948 to 1949, the Chinese government issued gold yuan to collect gold from citizens. After taking gold from people, the government kept printing more and more of this supposedly "gold-backed" currency. At the end, the gold yuan become worthless. No one can print gold, but any corrupt government can print as much "gold-backed" currency as they like.

@african-history-fountain 4 месяца назад

This woman says Zimbabwe must ''address the sanctions''? How the hell are they supposed to do that? Were they the ones who imposed sanctions on themselves? Ridiculous analysis. And she has no clue what will happen. She is a newscaster, not an economist, so she needs to rein in her smug look and dire predictions.

@AJYahye 4 месяца назад

Forget it, they have taken the right step to avoid western, looting system, also, Zimbabwe can get Backed gold... congratulations

@greggjones244 4 месяца назад

Corruption !

@azubikeossaite5588 4 месяца назад

One day too, Nigeria will work!

@myselfsula6720 4 месяца назад

I'm professizing this one day you're going to see Afrikaans and South Africans running to Zimbabwe

@MotivatedI 4 месяца назад

You don’t need a new currency. You need a working economy Back in the days I remember my mom Used to Tavel to Zimbabwe to buy things for business, like everything. Zimbabwe needs to bring that back not just changing currencies

@WazirinJosnEnvirons 4 месяца назад

Did I hear Gold?--I may need to look into this.

@wavincewavince394 4 месяца назад

is it going to be ZiG ZaG???😂😂😂

@chukwuclementn6701 4 месяца назад

😂😂😂😂

@user-mv8ve3su5z 4 месяца назад

Missing: Why did gold standard become history? Because US exported dollars to everyone and then removed gold backing and all the currency became worthless (Fiat currency). Then US started printing dollars and exporting it's inflation to all countries in terms of dollar reserves.

@amanina8615 4 месяца назад

Its nice to see Zimbabwe winning .Well Done Zimbos!

@ssemusudenis116 4 месяца назад

I wish my country Uganda can pick a leaf from zimbabwe. Congratulations Dear Fellow Africans, it will work and many will follow although others might fight it to work for their supremecy theology regardless we stand Africa stand up

@tanzania_travel 4 месяца назад

Gold is Real Money ! ... Volatility has nothing to do with its value. It will always remain stable for centuries. Go on Zimbabwe.

@stanleyinkope1693 4 месяца назад

Great move Zimbabwe. The reporter sounds very skeptical, even though she does not know that Zimbabwe has more than adequate gold reserves to support the progressive ZIG

@USMLEBOOSTER 4 месяца назад

The news is in the comments. Not what she is spewing 😂

@centurione6489 4 месяца назад

You know you are in grave trouble when ZIMBABWE shows you the right way to manage finance and economy.

@user-jm1tc2im5j 4 месяца назад

Nice move Zimbabwe! How much gold reserve have you got!? Can you engage the rest of the South African nations as well in Gold reserve!? How about manufacturing companies and supply and demand for your productivity!? This is another route of growing an economy. Trade within the continent and outside! Multiple ways of flourishing your economacronomics, this is just the basics.

@carbonfibercrypto2919 4 месяца назад

Now all u gotta do is trust the Zimbabwean central bank 😂😂😂

@jimmycricket5366 4 месяца назад

That's it!😂🤣😂🤣🤣

@moreno-lh7ys 21 день назад

WHY PEOPLE GOT SOUER AND SALTIER I CAN"T BELIEVE SOME COMMENTS HERE CAN WE JUST WISH ZIMBAWE GOOD LUCK AND BE HAPPY FOR THE PEOPLE OF ZIMBAWE WAY TO GO GREETINGS FROM MEXICO WE ARE HAPPY FOR OUR BROTHERS AND SISTERS FROM ZIMBAWE

@dalisemeyers620 4 месяца назад

Hi Palki, I understand that South Africa, like in pre coup Johannesburg and a gold mining town, had a gold backed financial system and banking. Don't know what happened to it..maybe it moved?

@thegingerday3008 4 месяца назад

She said, "Gold is not stable" she is correct, gold keeps going up in value everyday!!!

@dominiqpowell37 4 месяца назад

Zimbabwe need to have more gold reserves in order for it to work. They need to keep half the gold they mine. It's not rock science,these African countries are dictated to by the west. All the countries that produce gold need to keep 25% to 50% of all gold mined.

@anonymousvip1665 4 месяца назад

As long as Zimbabwe don't sell their Gold mines to European and Chinese corporations, this will make their currency worth one of the strongest in the world!!!