Zimbabwe launches new gold-backed currency
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- Опубликовано: 5 апр 2024
- Zimbabwe has introduced a new gold-backed currency which the central bank hopes will bring stability to the country’s economy. But as Columbus Mavhunga reports from Harare, economists and ordinary Zimbabweans have their doubts.
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A gold standard for currency is real wealth, debt based fiat currency is real poverty...
Zimbabwe will not be poor very long, nor will it citizens. Other countries will be watching closely. Congratulations to them.
Nobody trust the gold standard anymore after Nixon 😂
@@stefanonbekend8177 it's not about trust but control, if current has a cap so does the asking price...
Gold is, gold.
Plastic is not, gold.
USA promise to pay in silver is still not, silver.
The Tokens referred to as money.
Halsburys Laws of England first edition.
A Token of no actual value is a fraud.
except if the claimed gold doesn't actually exist LOL. Still a lot of corruption in Zimbabwe.
Hopefully US does not find a way to give Zimbabwe the "freedom"
Hahahhaah😂😂😂😂😂. I was about to say that.
The US Dollar is the way because people themselves trust in the major Currencys is bigger then their own national currency. You think Turks dont save up Dollar and Euro if they can? Of course they do, its the sane thing to do looking at the devaluation of the Lira. All thanks to Erdogan who interefed in Turkish interest rates policies with his religios knowlegde ignoring his own international finance experts.
@@midomen100Unlike Zimbabwe, they had some much at stake
Or China
@@midomen100USA artificially propping up its dollar, everyone can see its value is dropping, plus it has massive debts. So rich to be attacking Turkey, they have been building intrinsic value of their country and it is doing very well, and it’s not dependent on war and stealing resources to keep it going. Last of all, USA is the biggest terrorist country it waged the most wars and stole the most resources in modern history, China and even Russia seem to be more stable, lot of international investors are abandoning US currency as it’s strategy of war and stealing resources isno longer feasible and it causes more harm than the value it produces.
You better have enough GOLD and MIGHTY STRONG ARMY to fight back the bankers of the CABAL.
You beat me by 1 hour! 👍
What did you say! They have weapons of mass destruction and gassing their own citizens?!?
Afrika have Allah. Banks have satan cabal.
Kabbal*
Zimbabwens probably has the most hold reserves in the world, they more than enough
Look out Zimbabwe, you know what happened to Libya! 😢
And what will be the difference
nothing will happen, USA is still in recession now plus it's still busy with ukraina & israel
Just because the odds are against them and the whole world only sees the inevitable. But it's true courage shown from them. A step in the right direction.
Can you refer me to any evidence that Libya actually wanted to do this? Would be awesome but can’t find any evidence for it. Thanks.
@@AB-mb4gl In 2009, Libya’s Muammar Gaddafi proposed a Pan-African currency, the gold dinar, echoing the gold dinar coins of the Arab Caliphates that once ruled North Africa. But, unrest in Libya in 2011 put an end to such ambitions.
the bircs go for gold
it's better than western propaganda for Money.
Google "list of countries without a Rothschild owned bank 2001"
You'll find the answer.
This is real wealth, no one can argue with gold. May Allah SWT bless Zimbabwe immensely inshaAllah 🤲🏽❤️
Murdered Qaddafi when he wanted to implement this
No. He was a victim of the Arab Spring. And nobody saw that coming.
Instead he had a bayonet implemented in his anus 😂.
@@TGWazoo1 I did. When Russia reneged on its wheat contracts in August 2010 because of poor harvests, I predicted a panic by March 2011. It came in Januay 2011.
Yep
@@TGWazoo1 do a bit more research. Also, who instigated the Arab spring ?
Mashallah, wishing a prosperous development ahead❤
Finally the return of gold. I've been looking forward to it.
This is no better than fiat. If you think the government of Zimbabwe has enough gold reserves to exchange for the new ZiG currency, then I have a bridge to sell you.
@@andrewharris3900they’ve got more than enough. BRICS are backing them as well so America won’t be able to interfere. This is the beginning of the biggest financial change in known history.
You don’t understand currency. Put in 50 hours of study.
@@SeeLasSee thanks
@@SeeLasSee elaborate?
YOU DID WHAT!?!? We’re on our way to spread “democracy” there! 😈🤥🇺🇸
Well done Zimbabwe.
God Bless and may you grow from the grips of Sanctions .
Our prophet has said that 1400 years ago
Muslim should do business transaction in gold and silver.
lol . truly a 7th century thing to say .
That's not a prophet .
It's a businessman !
@@joaquinribeiro2941
I may agree with you
Because we believe he was and is and will be a perfect example for us.
He is not only a religious person
But also a best example of good father
A best example of good husband
A best example of good friend
A best example of good neighbour
A best example of good charitable, kind, honest, generous person.
Etc etc
@@joaquinribeiro2941
He was a good example of head of state
@joaquinribeiro2941He is true messenger of Allah , watch videos of proofs of prophethood of Muhammad (s.a.w.w)
Wow.. A world shifting move..
Imagine what happens when everyone tries to trade in their ZiG currency for actual gold only to find out they have been defrauded by the Zimbabwean government…again.
@@andrewharris3900 what?
@@yade5979 you don’t actually trust the Zim government to keep gold in reserve and not launder it/spend it/purloin it do you?
@@andrewharris3900ya, what?
@@adamzioriophotography you don’t understand?
No one trusts the Zimbabwean government to keep enough gold in reserve to give everyone bearing this new ZiG currency. It’s the same thing that happened with all the other gold backed currencies, the government kept issuing them but didn’t have enough gold kept in reserve.
Africa is awake 🤲
You spellt "weak" wrong.
Most of African is same old. Lead by the next political trend.
Zimbabwe, this fills me with hope! I'm wishing you the best of luck from across the world and I hope that you guys can be strong enough to fight those that would try to stop you.
Best of luck Zimbabwe. Love from Tanzania
This is the work of Kadafi. ☝️🤲🤲🤲
The ghaddafi loser is dead long time ago.
Nope. They just shouldn’t print too much of it, or it’s not gold-backed anymore. I hope it works out for the sake of the people.
Congratulations to Zimbabwe
May Allah bless the finance minister
Alhumdulillah some good things are happening in Africa now with this new currency in Zimbabwe plus what's happening in Senegal, Burkina Faso, Mali and Niger. May Allah give Africa wealth and prosperity and keep them away from the evils of the West, Ameen
the evils of zionism and usury not western values.
Yeah so you can go embrace the evils of the East😂😂😂😂
dude what evils of the west
the only evil facing the west is the spread of communism
@@StevenDj766 colonisation, robbing Africa of natural resources like how France have been doing even until recently, slavery. Is there anything else I have missed?
If the currency is backed by gold & being managed by the central bank of Zimbabwe alone, then it will be beneficial for the country. Though I see @whitehouse being involved on this activation of "WORLD DIGITAL CURRENCY", which the governor is portrays. Sanctioned were lifted with an agreement, other African countries are being tamed by this lucrative ideology, not knowing that most of digital currency is a one world government, one currency vision of the IMF, WORLD BANK, UN, JP MORGAN, ROTHSCHILD & so on. Africa should focus on building an AFRICAN BANK, FOR AFRICAN COUNTRIES, backed by the "minerals", that is when our motherland will be on a safer side. But until then, these poli-tricians are dancing, dining & gambling with the devil.
Yes the digital currency is a defensive mechanism to protect the top selling bonds .
You don’t understand currency. Put in 100 hours.
"here comes democracy"
"democracy"
This is the least original joke. Most invaders claim to be liberating some group. Russia and Israel both are now. China is with occupying Tibet. They just shouldn’t print too much of it, or it’s not gold-backed anymore. I hope it works out for the sake of the people.
The problem is that nobody trusts the Zimbabwe government to have enough gold to back the currency and nobody trusts that the politicians will give almost all the gold reserves to the people if there is a run on the bank. 😅
It's very easy to make gold backed currencies but it's much harder to build trust in them as any paper promising gold is only as trustable as the government issuing it.
First rational comment in the comments section.
This currency will be stable till next year then fall off a cliff till the next election cycle then they will blame sanctions😂😂
Why would they back their currency with gold if it isn't enough??
Irrational comment man
It for the upper class to travel and spend abroad.
Congratulations, Zimbabwe
Don't rush ...to congratulate...we know their works
Ghadafi would be proud
MashaAllah my African brothers are doing well
Congratulations Zimbabwe, keep up the good works. Also don't forget improve education, safety, security & defense of your country too.
I’m with you all the way God bless ❤💛💚
gadafy was killed because of what?
Zimbabwe uses USD mostly so this zig currency nonesense won't work. Because no one wants the zig everyone wants USD
MAJOR MOVE ZIMBABWE 🔥🔥
Great to hear, growth and prosperity wished to you
Where do we buy/swap it?
Islam is the truth Islam has all the solution. Free Palestine 🇵🇸Free Palestine 🇵🇸Free Palestine 🇵🇸Free Palestine 🇵🇸Free Palestine 🇵🇸Free Palestine 🇵🇸Free Palestine 🇵🇸Free Palestine 🇵🇸
Basically you want people to join islam to save palestine... !!!
Namaste ❤
If Islam has all the solution then let it solve Palestine's problem. This video is about Zimbabwe.
@@davidmafuika4193 Islam is the truth Islam has all the solution. Free Palestine 🇵🇸Free Palestine 🇵🇸Free Palestine 🇵🇸Free Palestine 🇵🇸Free Palestine 🇵🇸Free Palestine 🇵🇸Free Palestine 🇵🇸Free Palestine 🇵🇸
@@hafizmd.ibrahim475 Islam is the cause of all evil and wars. Look at Sudan Muslims killing Muslims and no people protesting about it. Is Palestine more important than Sudan?
This is CBDC in theory based on gold.
So it literally means
1 zig = around $2000 today
If gold goes up by say $2100 then value of 1 zig will be
1 zig = approximately 0.95 zig
Good for Zimbabwe! 🇿🇼 This is an excellent step.
Yes , the whole Africa needs to change it currency’s . They don’t need the dollar 💵.
They need the dollar, because African governments are so untrustworthy.
Imagine what happens when everyone tries to exchange their new ZiG currency for actual gold and it turns out that the Zimbabwean government has been lying about how much gold they have in reserve.
Russia just paid of the Africas debt to the British . Wait and see when it their currency changes .s😃
@@andrewharris3900 Sounds like America
@@Boyeaton1 Western politicians are moderately untrustworthy but still far better than the full scale corruption of African politics.
@@andrewharris3900 Colonizer pliz, you are on every comment like a bad rash why??? Jealous about Zimbabwe because we took your farm????
All the best to Zimbabwe 🇿🇼
Go Zimbabwe!!! ❤🎉
International Gold pricing is volatile. And easy to manipulate. Anybody remember BreX?
Was waiting for this moment since I was a kid in the school 😊
The idea is good, but will the Central Bank of Zimbabwe keep word ?
So when there is no more gold to back the ZiG, will they stop printing the papers that say they are backed with gold ?
And I assume a quaterly audit of the official gold reserves are implemented ?
And where can you trade the ZiG's for gold ? At the local bank ?
I wish Zimbabwe all the best, but something tells me that corruption will once again ruin this idea.
After the aljezera documentary honestly these liars have the audacity
They are so bold...
Zimbabwe will soon become rich
Watch the economy grow strong!
Global Trends such as de-dolarization, downstream industrialization, tech independency, etc... must be kept rolling...
such that, not so easily bullied by those hegemonic nations...
This is God's money, may God bless Zimbabwe
Which god?
@@hcbabyssian8936 Ancient Egyptian one, that’s why they had gold sarcophagus’.
If its TRADING at 14000 against usd then it wont do anything
They should think outside the box and introduce something much stronger than those note
I thought TRUELY its backed by gold but actually it's back by foreign policies
I support any gold backed currency
If only there were a currency you could hold, backed by the only thing that can't be made or destroyed, and wasn't controlled by a central system but rather decentralized.. 🤔🤔
Last year they lunch gold coin. I wonder what happens?
The Zig will only provide exchange rate stability if the Reserve stops printing new money OR has a reliable source of new gold.
🔥🔥🔥🔥🔥
May this real money initiative prevail.
👍👍 How do we invest in the new venture?
Well done, Zimbsbwe at least someone has the brains to back their currency with gold. The USA hates gold and sees it as the biggest threat to the USD reserve currency. Thats why the east is buying gold because they see its value, not the west.
The so-called East has about 1/2 of all dollars. They love them, the eurodollars. You don’t understand currency but are right about gold.
How much banknotes are they going to print..?
Bravo, Zimbabwe!
Can I change that currency for gold or silver in the central bank?
What a great move. Congratulations Zimbabwe. Turkiye should do the same.
Wow, good for you Zimbabwe. Maybe this will be a seeds for lasting prosperity
Well first of all they need to change the language immediately and stop saying what its worth against the doller but its price realative to its gold equivalent, it then becomes about who sets the price of gold. So long as Africa sets its global trading price it can work. Parity between Zimbabwe, the rest of Africa and the financial world as a whole with regards precious metals can be done
Yes Zimbabwe 🇿🇼, I hope it will give the country some hope
is it really convertible as they say ? Can I go to the central bank and get gold from my ZIG note ?
Every comment saying what I came to say. Some of you give me hope...
Good on the Zimbabwean Government. Now they should work on stabilizing the currency and start investing in their people.
Very interesting.
Right. And it's auditable I'm sure.
It is a stable currency at launch? Isn't the time factor implied in the word stable so how can the currency be stable at time 0?
😢
Who for
I highly doubt the convergence will hold for a long time. People always print over their ability.
Wishing you all the best giant Zimbabwe, force yourself to look East where lies your future not west where you'll likely meet your demise.
Love from 🇨🇩
Lies
Zimbabwe owns 2.5 tonnes of solid Gold, it's not much when compared to the gold reserves of China and Russia. I do admire their forward thinking and really hope that Zimbabwe will succeed this time
Backed by gold they plan to have in the future?
people in the comment section are incredibly red pilled
$11(US). of gold per person in the central bank. No idea what they are trying to achieve here.
💪🏾💪🏾💪🏾💪🏾💪🏾💪🏾
I smell a Gaddafi repeat🤦🏻♂️
Way ahead of us! We need to go back to real gold back money to eliminate inflation!
God Bléss There Currency 💵,👏🏾👏🏾👏🏾👏🏾🎊👏🏾👏🏾🙏🙏🙏🙏💎💯👑👍
A key part will be where the precious metals are stored and how they are audited. Im suprised they didnt discuss how many ton of gold or other have been bought so far to back this.
Wonderful!
You have to enforce it Mr Governor specifically in international trade that’s how u can increase acceptance , u seems low in confidence
Awesome!!!
Hell yeah let’s go
YES YES YES
Bravo
Uhh BTC ?!?!!?
Not going digital?
Let's all wish Zimbabwe a better future and hope it all works better for them.
Even the most laughed-about currency in U.S. Economics classes now wants to go Gold.
A prophecy for the U.S.? But the problem isn't the gold, it's the Central Banks.
Sure sure
The real question is how long before they debase it? I give 1 year.
Well done
Educate Educate Educate! The only key to success.
How can this new currency anchored to the USD ( itself backed by thin air) be backed by Gold ?
Nice !!!
Can I turn in my 100 Trillion dollar Zimbabwe Federal Reserve Note for gold now!?!
Be careful Gadafi tried doing that.