Zimbabwe Currency | New currency strengthens against US dollar
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- Опубликовано: 9 апр 2024
- Zimbabwe's new currency, the ZiG is currently trading stronger than the rand.
According to Petri Redelinghuys from Herenya Capital Advisors, part of that strengh comes from the rallying gold price on which the new currency is backed. #eNCA #DStv403 #QuestionThinkAct
I’m backing Zimbabwe 💯 I hope the country gets back on it’s feet
Agreed.
Cape Town. 🇿🇦🇷🇺
Thank you.
Wise move ? 😂😂😂
@@madanhamuchineuta3157The currency IS NOT gold backed. This young man has no idea what he's talking about! This currency is NOT redeemable in gold. If he thinks a puny two tonnes of gold can back the currency of a medium sized country like Zimbabwe he's dreaming.
@@jimmycricket5366 umwe achanyura lol -> someone will sink 😂😂😂
Zimbabwe’s trajectory is changing. God is good!
Time to go home.
It's a long shot but I hope Zimbabwe gets fixed & the country prospers so Zimbabweans can all go back home. That will be best for everyone.
In what way will it be better?
For Zimbabweans yes of coz not for everyone
@@gunitkjkp470if Zim economy improves, I know a lot would love to return home and rebuild their nation. That's a win to every Zim who wishes to return home. This should have a positive impact on neighbouring nations currently facing influx of Economic refugees from zim
@@commandodeejaguar8534what nation will be negatively impacted by a nation trying to stabilise its inflation and economy?
Let’s Say All Zimbabweans go back, How will things get Better there?
Good News! Africa Help Zimbabwe Stand By Itself.
Yeah go Zim
The currency IS NOT gold backed. This young man has no idea what he's talking about! This currency is NOT redeemable in gold. If he thinks a puny two tonnes of gold can back the currency of a medium sized country like Zimbabwe he's dreaming..
@@jimmycricket5366well watch your stupid education go down the drain as Zimbabwe economy grow more that SA and the value of the currency overtake the USD.
Africa is waking up , keep it up
Good news to hear , Thats the way to go Zim
Zimbabweans are revolutionary by nature.
This system is likely going to shake even first world nations.
You are very right
@remembrance: please put your contact details, accessible even without subscribing. You are onto something with the Thomas Fuller material.
I will be following
The Thomas Fuller content is striking
🙏🏾. Please let this growth improve the lives of Zimbabweans
Thank you Mr President for introducing a strong currency. You are truly a visionary leader. Now Zimbabwe is back on it's feet
Visionary what that dictator
Kusimbisana muzvicorner kkkkkk
It's an American idea. Conspiracy not to be overlooked here. Lifting of sanctions and suddenly they are competitive again? I wonder why all along no one thought of this ingenious measure. I will congratulate them but with a trace of scepticism.
Its russian idea not American
The currency IS NOT gold backed. This young man has no idea what he's talking about! This currency is NOT redeemable in gold. If he thinks a puny two tonnes of gold can back the currency of a medium sized country like Zimbabwe he's dreaming.
@jimmycricket5366 - You live in a cave and you know nothing about Economics.🤣 Resources like gold, diamond and oil are used to back currency. Botswana is doing it with Diamonds and the Pula is stronger than the Rand. America makes use of oil and gold reserves to strengthen their dollar.
Now, you guys needs to think. American tries to have the say in everyone affairs, but African have the resources to back anything they want. The west back things because of what they have stolen from Africa over 400 years. Now why you think African can't do it on its own. The puppet government are dying and the young people are not having at all. Africa is the richest continent and now is there time. Everyone got rich off Africa 🌍 lol 😅😅😅 yes, we the gold, oil and many more to use and it's all our once they leave us alone. Thank you
Fake intellectualism 😂😂. Self serving rhetoric pouted as facts . Africans should stop being lobbyist for International bonds seller ( "INVESTMENT" . AFRICA IS Designated as the source of raw materials and human labour and market.
Failure to address that there will never be development.
Devalued currencies facilities access for investors and high revenue turnover for other countries ( so called investment)
You won't learn this in western economics. They teach resource scavenging. It's a necessity to have failing all Africa economies .
Ditch western economics books .
I pray it gets better, so we can go back home
They should have done this in 1980 ...its not rocket science that a currency must be backed by gold reserves for it to be stable ..
It is a route that SA need to take. Reliance on USD is quite risky, how did we get to this stage in a first place?
Rockfeller is the simple answer ,do your research
@@MindofKefane thanks.
@@MindofKefaneThis Zim currency/zig IS NOT gold backed. This young man has no idea what he's talking about! This currency is NOT redeemable in gold. If he thinks a puny two tonnes of gold can back the currency of a medium sized country like Zimbabwe he's dreaming.
I think with south Africa the bricks currency will play a role, Zimbabwe has been experimenting for year's to get the currency stable
@@nyoni_tour6677 I agree. That is why the SADC and other block-membership countries in Africa haven't formed single currency systems.... They don't even trust each other! Maybe one day, but for now people want to see trustworthy behaviour and thrifty spending behaviour, actually demonstrated consistently for at least five years or more. We hope it can be done for the sake of the suffering people.
Now, this one will last forever
Unless the government steal all that backs the new currency ..... but best of luck to Zimbabwe... the BRICS countries are thinking of doing the same ..( Brazil Russia India China and South africa )
Good luck to Zimbabwe, an economic improvement of Zimbabwe will free Southern African countries due to influx of Zimbabwe
Zimbabwe Thinking its Narnia were anything is possible if you just imagine
This is great, South Africa should consider going back to the gold standard as well, prevent currency manipulation by banks 😅
Amazing grace, how sweet that sounds 👏🏿👏🏿👏🏿
I wish them all the success in returning to real money and my Allha bless them for this ❤
I'm going to Zimbabwe
as an unemployed Artisan in South Africa I'm right behind you on that route
Pretty much any currency is beating the Rand. Going from bad to worse every year.
thats rather dramatic
Thank God for Zimbabwe.. Nigeria should do the same.. and back the Naira with gas n Gold too
Yeah go Zimbabwe Go our own currency our Growth. I feel good
Yes!
Good 👍
Interesting
Hallelujah!!!!
Good news for Zim ❤ it will work
Zimbabwe Is God's 🇿🇼 ZIG
Yes bro..amazing 😊
ZamaZama gold
Enemy of progress 😂😂😂😂
You just had to 😂😂😂
Zimbabwe here I come
Good one my African brother
Oooooh Lord let it be pliz
If Zimbabwe claims that it's ZIG currency is backed by gold, it means that the value of the currency is tied to a specific amount of gold held by the government. In such a scenario, if a Zimbabwe issues a new currency and claims it's backed by gold, but they only have less than 1.5 tonnes of gold, it suggests that the currency's value would be limited to the value of that amount of gold. However, the actual mechanics and implications of such a backing would depend on the specific policies and arrangements established by the government. Typically, the value of the currency backed by gold would be determined by the gold reserves and the confidence in the government's ability to maintain the convertibility of the currency into gold at the promised rate.
Yap.
They have a lot of virgin land to mine, gold in Zim its every where...
I get you
@@midreamfxAnd this zig currency is not redeemable in physical gold.
LoL 🤣🤣🤣 you really believe that no my brother let me explain 1 ton is only backing up the new currency zim have tons and tons of gold...
Good news so far
This is good news
Let's goooo ZIM!!! ❤❤❤
Is It powerful
Lot of Thanks to our finance minister doctor John mangudya
Good news
If it succeeds, Nigeria will follow suit.
They should peg it to a third currency like yuan or rupee . Sign a Memorandum with China or India and help zig sail
Hope this works
This is exactly what Malema and the EFF says could happen if we unite africa under one currency backed by all of our minerals. People act like they don't hear it 😢
Is there a ounce note....half ounce note quarter ounce note.....can someone explain how it works......
$1USD=13.56 ZiG and the smallest note is 1ZiG so you can do the maths
@@Phenomenon2901And this currency IS NOT gold backed. This young man has no idea what he's talking about! This currency is NOT redeemable in gold. If he thinks a puny two tonnes of gold can back the currency of a medium sized country like Zimbabwe he's dreaming.
They also have an ounce of gold the mosi coin so I think that is also playing a role to the currencies
Well done. Very good news.
My country SA is falling apart.
🇿🇼 🤣 its only been two days... zanupf are specialists in failure, it won't take time before it crashes... zanupf use the same playbook, no innovation at all...
Exactly... Can a leopard change its spots? Greed will kick in and this window-dressing exercise will flop.
I dnt think so wait to see defore to late
This shift should have been done a long time ago
You trust Zimbabwe government to not print more notes than they have gold ?
Mark my words,,they will only print more when they increase the reserves.Since they already noticed that this method is okay they jeopardise this.
So they will work by the book.Reserve Bank is independent,its upto the Governor.
@@midreamfxyou need to buy a book called the fundamentals of Zanu PF.
@@midreamfxThe currency IS NOT gold backed. This young man has no idea what he's talking about! This currency is NOT redeemable in gold. If he thinks a puny two tonnes of gold can back the currency of a medium sized country like Zimbabwe he's dreaming.
@@jimmycricket5366 Kkkk if you say that in public even your wife will reject you bro countries when they trade they issue what is called a bond so if that needs to be paid they in national currency or gold 😂😂 go back to school
@@jimmycricket5366as much as people hate the Zimbabwe government, I think it's high time things change in Zim, it's good for the ordinary people in the country, don't you think so. We need progress.
All lies food prices have doubled this past week .. vehicle license was USD 20.00 per term, now USD 40.00 per term .. we cannot buy fuel in ZIG have to USD
A currencu is backed by confidence of pipo and strong economic acticity not by gold
So if you are holding the 100 Trillion Note is it worthless now
Yet SA will never do this, because Cyril’s handlers won’t allow it.
nah keep watching.
Dont forget the is BRICKS!
My issue is that the gold reserves themselves will be looted if not already the case
Gold and silver were recognized currencies throughout the ages Zimbabwe is simply following the origins of currency as know in all Religious Manuscripts.
Economics is a study of a lack of...Mineral currency bears intrinsic value hoards no interest or inflation.
What happened to the bond notes that were backed by the afrexim bank loan😂😂
Exactly, I'm glad you remembered! Do you remember the "bearer cheques", the three iterations of Zim dollar notes, the "Special agro cheques" and the bond? 😂
God is nt a person Sur 🙏🙏🙏, God please bless also Malawi please
Wait and See...
Gold is God's money
50,000,000,000 zim x 1 cent = Acceptable
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These are jus papers 😂
They should buy BITCOIN
South African currency is manipulated by its banks and certain individuals and are not punished
That’s bollocks
Exactly my friend. The currency IS NOT gold backed. This young man has no idea what he's talking about! This currency is NOT redeemable in gold. If he thinks a puny two tonnes of gold can back the currency of a medium sized country like Zimbabwe he's dreaming.
Will ZIG currency do a revaluation ? 1:55
Nato will never leave zim to be ahead of them
It's to soon
And why is south Africa not talking the same route as zim did 🤔🤔🤔🤔
what happens if gold loses value?
🤡@@nnn8502
@@nnn8502 😂😂😂😂 you're the most dumbest person l've ever see 😂😂😂😂
@@nnn8502Gold doesn't lose value as quickly as the fiat currency
@@nnn8502lol it became like the rest of other currencies that are not backed by anything 🤔
Watch carefully US will soon bring freedom and democracy to Zimbabwe as they did to Libya when Ghadaffi thought of this.
libya wanted to trade oil in gold dinars
Russia and China will help them just like they did during colonialism
lol actual backed by gold, what prevents them from printing more money than the gold they have.
Because we know how much gold they have🤷🏾♂️
Nothing is stopping them from printing more currency but like any currency the more you print the weaker it gets thus less buying power & the possibility of inflation. Gold backing mostly ensures the currency retains some kind of value as years go by whereas fiat\unbacked currencies are guaranteed to lose value over time
@@siyasamente9590I understand you
Nothing.
@@siyasamente9590The currency IS NOT gold backed. This young man has no idea what he's talking about! This currency is NOT redeemable in gold. If he thinks a puny two tonnes of gold can back the currency of a medium sized country like Zimbabwe he's dreaming
South African currency is backed by what?
By USD , which actually backed by trust
tons of bullshit
Air
@@akhonazasembo3016 😂😂😂 and big bellies
@@toppie5700 😂
To all fellow Zim Foreign Nationals... What's up my Ziggas
Hmmm those Who was laughing 😆🤣😂🤣 at ZIMBABWE your probably crying 😭😂😭 now SANCTIONS WHO .. AFRICA 🌍 RISING
Have you started benefitting? Does it give you a reason to start packing and go back home?
Hahaha! Take that ANC!! The worst indicator against the so-called SA politicians and clepto gangs!!!! 29 May here we come!!!
ANC must win.
😂
Are you sure with what you are saying Sir.
The currency IS NOT gold backed. This young man has no idea what he's talking about! This currency is NOT redeemable in gold. If he thinks a puny two tonnes of gold can back the currency of a medium sized country like Zimbabwe he's dreaming.
What for me will be interesting to watch more so than the 'gold-backed' currency, is Zimbabwe's foreign policy.
SA potentially scored an own goal with the 🇮🇱 court case but it still is part of the ever expanding BRICS which I foresee issuing a currency of their own in the foreseeable future. Let's be clear. Both my countries wreak with the stench of corruption but SA has much stronger fundamentals and institutions
Can a Zimbabwean walk into a bank and obtain gold against his Zig? No? Then it is just as worthless as the zdollar
This pipe dream won't last long.
Zimbabwe gold holdings is 2.5t .. South africa ... 125.41t ..... let that sink in and the other BRICS countries want to do the same ... it will wipe out the ZIG
Zim is dominated by Gold, having 2.5t in reserves doesn't mean that is the only Gold in the country holding the whole economy
Here's something to sink into your thick skull 125.41t is absolutely nothing south Africa will never see 200t of gold in their volts Zimbabwe is only beginning do you know how much gold is smuggled out of Zimbabwe and into Dubai Egypt and south Africa Baba do your research Zimbabwe as small as it is has been determined to harbour more gold than any African country that same gold you mentioned some of it comes from Zimbabwe through underground rings your mad Zimbabwe is leading the charge in in freeing Africa from Western terrorism you should be happy now every can follow Zimbabwe and bring fourth Muammar Gaddafi's African dream if you even know who he is 🤡😂
@user-ec5ib4em7k south Africa's record low is 88t production in 2022 ... Zimbabwe record high same year 32t production. .also a huge new gold reserve was just discovered this year In south africa ...
@user-ec5ib4em7k ZIG is backed in gold and foreign currency holdings of the govermeny .. so yes the ZIG is directly tied to the reserves of said government.. just having it in the ground isn't valuable you need to get it out .. and it can't disappear on the way to the save storage as many things do in Zimbabwe... these are just facts
@@aaronrathbone6693 🤡😂😂😂 wait and see
Zig= 0.00000008912 USD
You need to go back to school if you have ever been there in the first place
@@Phenomenon2901 zig is like shiba inu crypto currency😁
@@basedsigma5634 Shame
@@basedsigma5634The currency IS NOT gold backed. This young man has no idea what he's talking about! This currency is NOT redeemable in gold. If he thinks a puny two tonnes of gold can back the currency of a medium sized country like Zimbabwe he's dreaming.
@@jimmycricket5366 we know its BS , like shiba inu🤣
So...
China now Owns Zimbabwe.
Atleast UNTIL Zimbabwe accepts Chinese Currency as it's base.
How did you draw that conclusion from the video?
@@siyasamente9590true
I feel for the country because the amount of poor management has been terrible...
*WITH THAT SAID* I wouldn't buy any, you still have to TRUST the exact same government to not dilute the paper for the gold equivalent.
It's the EXACT SAME REASON why every gold backed currency has failed.
They all rely on the 3rd party.
Thats not true people refusing it
Which people, us the Zimbabweans we love it
Whats the spelling of this Zig/ ZG 😂... I might buy some forex there ...
Zigzag it's a matter of time before it loose it's strength
So 300 trillions is 60$?
I wanna know too
Kak praat.