PLEASE PROTECT YOUR COUNTRY'S PROGRESS FROM THE FRENCH AND U.S.........learn from the moves they made on Libya. STAY SAFE PLEEAASSEE we in the diaspora are pulling for your success!!! ONE AFRICA
Yes Sir!! Umoja is key in the development of our mother continent. Look into The African Diaspora Development Institute, ADDI. This is one of the agencies I have partnered my U.S. Based company with to aid in the development of Mother Afrika. We thank you and appreciate your support. Ubuntu Ma'at Ase'🙏🏿🇬🇼🇿🇦🇰🇪🇺🇸
@@CapitolVisions You are more than welcome. Africa is for Afrikans. "Urithi wangu ni Balanta na Zulu." I am extremely proud of my Afrikan heritage and our people. Ase'🙏🏿
I disagree with the Zambian economist. Gold is strong and stable. Its just the rest of the world sided with the world bullies(US and their allies) who imposed sanctions and manipulating the value of the Zimbabwean currency. They intend to impose sanction on Zimbabwean gold if they were to be used in the international market. Those sanctions are the problems.
Oh shut up have you ever stayed in Zimbabwe... if you did this kind of talk wouldn’t be coming out of your mouth... they busy shouting at the the west instead if taking care of their own people... ziim ws under more sanctions during rhidesia what is their excuse now
bad governance not sanctions is the real issue, we can not shift from Rands, US, bond, Zim dollar etc, the strength of a currency is determined by the quality of governance we have, as no as Zanu is there, no currency will work
He wants to enslave Zambian making them depend on others to do what they have the resource to do for themself! AFRICA MUST DO FOR SELF, AND THINK FOR SELF! (In case my common get deleted) I can't believe NO ONE has thought to make coins mixed with small amounts of gold to bring down the value enough for the common man and woman to use? How could this be that only one OZ coins will be made in a country where the people can't afford them. They are of NO USE AT ALL other than the rich! MORE EXPLORATION! GET UP, STAND UP FOR YOUR RIGHT!
@@robertmayor1569 european sanctions are the problem. The west doesn't want to see Zimbabwe successfull or any other african countries. The west relies on Africa's poverty
In all honesty and bluntness, "You are correct!" Credit by any other name is still "Fiat Currency!" I know that the cash in my pocket and the money that lay's in my Bank are simply "Promises kept,and Promises to pay!"
bronze and silver coins are coming soon!!!!! zim all the way. bravo move. africa should follow. Africa's economic brains have found residence in southern Africa (Zimbabwe).
Job very well done Zimbabwe. Even if they buy the coins to melt them, the bottom line is - they purchased the coins, they didn't steal it and didn't use forced labor to steal it while they were at it. Win-win. Also, the $2 or other smaller denominations that he's concerned about aren't the ones that hold the country's economy. It's the big wig deep pockets who matter in the international economy not the $2. There'll still be plenty of those $2 or $100 to be used by the community. They didn't say they are canceling the paper dollars at all. This is a great step. So pleased with the zim government right now!!!
Great move Zimbabwe 🇿🇼 👏 👍..All of Africa must stand to support this..but we all know eats gonna happen right..Zimbabwe is home to some of the smartest people and its been long time in waiting for something
@@geneticmemory9205 take it from an American, the US dollar is about to fail because it's really is worthless. Gold is real, paper money is worthless. The government is doing the right thing. Russia and China is backing their currency on gold
how do one transact in gold coins that only have 2 denominations, 0 and 1200 dollars? you cant transact with this useless coin. if one want to use it, has to sell it all which is pathetic.
@@Olcool Onke is talking on an international level, in which case he is correct. Now for the people there would mix one metal like silver with tin, which would bring down the price so everyone could use it.
💯 Agreed. Gold has only been used historically for very large transactions. While small silver coins would be far more realistic for the average Zimbabwean for everyday transactions. Or better yet copper coins.
@@jasonlawrence2143 Sure, for very small transactions. When you get down to copper you end up where the cost of stamping them out is more then the cost of the metal. That has some challenges but it could be done. A one ounce < English ounce > copper coin has about 35 cents worth of copper at current prices. In an economy where .36 cents USD is enough to actually buy something why not?
Yusuf Dodia : you should be optimistic rather than pessimistic about the move by the government of Zimbabwe to issue gold-backed currency. I agree with some of your analysis, but not that the Mosa Ou Tanya gold currency will not attract International demand. I disagree with you because the value of gold is and will always be greater than any paper currency such ad the US dollar, British Pound as they have nothing of value to back them up. This bold move by Zimbabwe will be a game changer for the country and a lesson for other African countries that it can be done.
@alex emergineer. Don't hold your breath on sanctions removal by the West. Cuba is still 60 years in sanctions from the U.S. as I write. Russia has boomeranged the Western sanctions. Zimbabwe's way out is to use the involatile value of gold. Gold is the original standard of monetary value and a perennial tradable commodity.
How is it that no matter what the International community has tried to do to China, they remain resilient and strong? Top level corruption especially at the leadership level remains the major issue of African nations.
you are stupid for your comments, it clearly shows who you are. What do you mean every country is not like Nigeria. Every country has its own problems. Ye,s we know the sanctions in Zim affected Zim. We African should stand together. We are against the way South Africans are treating ZIM people. You don't need to use the derogatory word about Nigeria
@@malwandemoyo8475 but he's clearly just a China owned talking head for the China owned sabc. Zw should not use their own gold but use fake China money. Chii? China dodi money? Instead of real value? OK, we get it, you think Zimbabweans are not yet aware of colonialism..
Economist will give you the same opinion either way. What does his nationality have to do with anything. he is the economist for the channel on all things Africa
They should have gotten a Zimbabwean economist. This guy is highly misinformed on Zimbabwe. The coins are not meant to be a currency but a store of value in order to reduce the demand for the USD and ultimately reduce exchange rate-based inflation. While I personally don't think this will work, I'm disappointed by the misinformation peddled by the 2.
The problem is political. You can't rule people who doesn't like you. The opposition have been denied their chance to lead us. People then will sabotage these Zanu pf govt until it's gone.
1 coin is worth $1600 who many ordinary people in Zimbabwe has that money? even educated people don't have that much money, if i want to buy basics using the coin what do i get in exchange for the difference? It would make sense if there were coins with small ounces of gold to make them more affordable for the greater population.
That would be really tiny money😂. Even if not everyone has it, if even the few who have that money can use the coins, it'd lessen the load on the currency. If that makes sense
They should just use lesser quantities of gold to get smaller denominations for legal tender. I mean not everyone has $1600 that's R27000, yes their currency will rise and beat the inflation as people exchange the dollar for musi wa thunya
WHen I lived in Rhodesia (now known as zimbabwe),..a cup of coffee was a tiki (2 1/2 centsw) if I recall correctly. 1 dollar Rhodesian was worth about 1.50 american. About ten years ago someone gave me a souvenier because he knew I had lived there when Rhodesia became zimbabwe. It was a bill,..I think it had zero's all the way across the bill, and that was after they had chopped 13 zeros' off the number of zerios so they could print it. He told me that a cup of coffe had gotten to the point of costing something like 13 trillion zim. dollars. ARE YOU KIDDDING ME>..........and you think the rest of the world is manipulating zim. currency????? Surely it has at least crossed your mind that the govt. there has the printing presses running full time. Just like other governments,,..only much better at it.
A gold coin with a serial number ( if they in fact have them) is still a gold coin. It's the smaller denominations that need to be tied somehow to gold. (Would work as long as the US don't pull another Gagaddafi ).
It all because Zimbabwe claimed its land from the Colonial masters. They are being punished for that. It is very wrong. It is the ordinary Zimbabweans that are suffering because of the international community
I'm Zimbabwean and no that's not the issue and Yusuf sadly is very political with his economics. It's very possible for a country to become self sufficient and not need to be an international player thus not needing colonial masters. But that takes discipline and sacrifice, the Roman's used to say wise men would plant a tree knowing that they will never bask in its shade. Till today we still are heavily influenced by the Roman Empire because they didn't plan for their time but generations ahead and when leaders like Ceasar got to big for their own heads were firmly reminded that they're public servants. So long story, twisted as it is, Africa can do better if we out grow the self centered mentality and make efforts to enrich future generations and not the current war heros.
I'm curious how this will work in reality? Plenty room for high ranking looters!! News presenter quoting Roman times is an African embarrassment. Zambian telling Zimbabwe to use Chinese currency in a time of despair is a real mystery to me? He hasn't a clue about what's on ground the worst person to interview.
8Western and Europeans countries should stay out of African economies they have bullied African countries more than enough with sanctions. We as Africa can stand our own economy regardless Westerners and Europeans come here to bride politicians while they just here to colonize Africans pretending to be investors. Zimbabwe can provide more than for its people with what they can grow and mine out of their land. The people has suffered enough causing its people to flee their motherland to survive in other counties are already struggling with poverty and joblessness which leads to xenophobia in Africa. Europe and the West should stay with their money problems and let us deal with our own resources. I WOULD SAY ,YES ZIMBABWE DO WHAT IS RIGHT TO STRENGTHEN YOUR CURRENCY AND SAVE YYOUR COUNTRY . VIVA AFRICAN
@@may_beeharuno2195 it's a colonial language, I'd I quote " Europe must stay with there money" then why not there culture, music , inventions ,and language ? Don't be bias and Google has Google translate...
I'm from Zim n I agree with Zimbain Economist As long as Zimbabwe is still under influence of international sunction we can use all kind of zimcurrents even pure gold it is not gonna work
As long as we are buying our oil in USD, nothing will change the status quo. There is a reason why the US is soft on oil producing nations, despite all of their gross human rights violations. These nations are accepting USD for oil, not gold. This is why China has the largest reserves of USD in the world.
Smart move by Zimbabwe actually to slowly move away from the dollar by converting local currency into gold which will then allow them to switch to other reserve currency such as the Yuan in the future
Rasta hazvina politics izvi gold and silver is money baba enda kotenga gold coin woisa paden. US dollars not backed by anything that's fake money like stocks and bonds all fake
Right approach moving forward. Afrikan Continent must use gold coin as legal tender and doing away with paper money. Gold coin currency is value based and paper currency has no value.
Nope. Gold is the choice, we got the resources, the Gold and Gold never ceases. Get an exonomist that is well vested in the knowledge of Zimbabwes economy and Gold currency.
This gold coin debacle is not going to end well. Zimbabwean economic and financial interventions always end up in failure. Zimbabwe has to address the cause of economic challenges not tinker about with new currencies
