Zimbabwe has come up with a novel idea to tackle inflation.
The central bank has launched gold coins to be sold to the public.
The first batch of 2,000 coins was minted abroad, but eventually they will be produced locally.
Al Jazeera’s Haru Mutasa reports from Harare, Zimbabwe.
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Just cancel all of the old notes and make new ones with new values, and make the currency a gold standard.
Goldbacks backs should help Zimbabwe. If you don’t know what those are you should look into it but that is what they need not 1 oz bullion coins anyone can buy them who has money anyways. We don’t need one that says Zimbabwe on it.
Best decision. Thanks from BD
Should issue more affordable silver coins and tether their currency to silver by assigning a compelling face value to it, slightly higher than the current spot/melt value. Produce a billion of these coins and put them directly into circulation, instead of digital money.
Very disappointed by the Governor of Zimbabwe Reserve Bank for failing to find a better solution than this gold coins….. the problem in Zim is political and as long as the Reserve bank is not independent to freely make monetary policy decisions and implement them then the results will be the same disastrous…. Zanu pf or the President of Zim should not have influence in how the Reserve Bank is run… 🏦 The Reserve should be independent and thats why they do not want to use other currences because they do not want to follow and implement the good monetary policies other countries have.
I do not see anything coming out of any idea they can try as long as everything is controlled by Zanu Pf…. They know exactly that for an economy to move in a better direction there is need of increasing production and consumption simultaneously but is this gonna improve production or consumption? Is this gonna influence investors local or outside to start businesses in Zim and employ people…. they should not focus too much on politics and power but focus on bettering the economy and everyone will follow them.
Other countries should learn from them
Man use digital gold don’t use physical gold
Use a system where in your national back will have all the gold which will create gold credits you can via gold fractions like that as per international gold rates your currency value will be why not a govt. Create there own
Crypto currency type system
What is crypto currency is ?
It’s Simply a open source Bank entry passbook lol use it
Otherwise this gold will be in wrong peoples hands 🥴
Ask Indias help we can here even do banking without internet or smartphone
Our bank messaging system we can give you guys if just ask for it it’s worth just ask India we will help you with that system
Like how we share our co-win system to other nations to keep records and covid certificate on mass scale
Only benefits the rich
Remind me what killed ghadaffi again
It’s not about from what you make your money anymore. It’s about how you make your own goods and necessities. Shining metal can’t save you from starvation.
Gold is MONEY
this is a solid idea, i can try work
Good move but half way. The should have introduced smaller value coins including silver coins as well as paper notes BACKED BY the gold.
I think this is the only way forward because the US keeps devaluing the Zim dollar at a hyper level and they will not be giving Zimbabwe a break anytime soon
The primary cause of inflation in Zimbabwe is the reckless printing of money by the central bank. Gold coins will do exactly zero to address this problem. On the other hand, a genuinely gold backed currency – i.e. a real gold standard – would be an effective solution.
@Gol D. Roger Our wealth is coming you just don’t foresee it yet!
@Golden Spilo there is no Lord money here.
Like Jesus said give to Ceasar what is for Ceasar and give to God what is for God.
God don’t look at material things. It has no value for him.
Only Humanity give it’s value and now only the few who control the value of precious metals.
Just give to people what they are deserve.
Like I said before how it can eradicate poverty if poor people only receive less pay than what they need?
@Gol D. Roger Haggai 2:8 The Silver is mine and the Gold is mine Said the Lord….You see the Lord bestowed upon the earth for his children as sacred Monetary value to gain wealth… Mark 10:21 and Jesus looked at him and loved him one thing you lack…he said Go sell your possession or take care of the poor so that you can treasures up in heaven….And if you read Ephesians 6:11 that will give you an indication what we need to do! The Lord is poverty and rich…He doesn’t care about your backgrounds as long you don’t put yourself above him. “Psalms 7:11 The Lord judges the righteous and the Lord is angry at the wicked Everyday.”….”Taxation is a theft” it was created to suppress and cause repression around the world as a distraction. Remember now infiltration not invasion. Satan’s works for his seeds…like Cain
😂😂😂😂😂
If you are a Christian who doesn’t pay attention what the word say and follow the propheys it might take time to see things .in Isaiah says Africa Shall stretch their hand giving glory to God .read Isaiah 18 people of Africa God is aware of your suffering,He allows it for this stretching purpose.
Zim we are PPL of Gold thats our original name .gold and silver are God blessing comodity paper money is artificial creared by this world iluminati leaders not God Thor he allows it.major concerns
Ppl can contribute positive mind by suggesting also small gold coins so less fortune can able to reap this brilliant move .remember God work it better for what meant for evil
GOD WILL EVEN USE THAT CURRENT GOVEMENT TO RESTORE OUR FORMER COUNTRY OR HE CAN USE ANY DIFFERENT CANDIDATE TO RETAIN ITS BEAUTY AGAIN HE IS JEHOVAH JIREH .HE IS GOD. BUT WATCHFUL AS WE SEE THE RESTORATION OF AFRICA TELLS THAT JESUS IS SECONDS OR MUNUTE BEFORE HE RETAIN .LETS REPENT PPL
EVERTHING Is BEING FULFILLD
It’s not enough… the corruption and inflation in Zimbabwe is really chronic and rooted
Finally they realize Gold
make it legal tender..not just gold..use silver too
Russia and China already implementing such a system
Kkk economy yemuzim inoshungurudza mangudya anotoshaya kuti oudza sei zanu kuti vanhu havasikukudai. For as long as zanu is in power matricks ese aya haashande.
And We are back to precious metals as currency.
They should make 1 gram coins for the regular folks. To make them less likely to get lost they can make the majority of the coin out of base metal with a 1 gram gold pellet embedded in the center.
Glad Gaddafi left. A good idea… An idea which always threatens the west hahaha 🤣🤣
Serve who?? How many teachers, nurses or vendors can afford a gold coin….Zimbabwe is for the rich only.
Is not a bad idear at all
Thanks God Africa is waking up again
Why launch a separate coin? If someone is capable to invest in gold, he would simply buy gold by usual market norms.
I dont understand it quite well. My mind tells me that as long as you are buying international goods using US dollar, the price of the product will still change depending on how much US dollar falls on value. Meaning, gold coins would only work when the products/goods were made and sold to the locals.
It makes sense when you are making and selling products on your own country but when it comes to international goods, these gold coins can’t be used as a payment to other countries unless you sell gold to US dollar which breaks the total reason why you made these coins.
I maybe wrong, its just that i dont understand how making gold coins will control the inflation.
I guess you will buy goods with the gold coin. Its value will be based on the price of Gold as a commodity
Policies should be made to make value circulate, not stay at home
The brilliant moves ever! Because the new world order government will hit our currency soon! So our money will not have any values anymore!! Its better to buy and save gold than money paper! This is just beginning! Thanks me later!
This is the right move. All of Africa should follow suit. We must get off the dollar 💵 It is a highly manipulated currency backed by the US Military. Be vigilant Zimbabwe. This is why they killed Ghadaffi
The breadbasket cannot return without a regime change
I think it’s a good idea.
1 gold coin is worth a lot in zim’s,. Astronomical actually, and way out of range for extremely poor people that Zimbabwe’s are, doesn’t make sense..
They makingbthose coins with poor people in mind so everyone will afford it even a gardner
Definitely a positive move
Best of luck flower brother
Excellent move but be careful the same system that murdered Gaddafi in Libya will be plotting against you.
Well, though the country might be experiencing severe liquidity issues, coming up with new currencies might not be the optimal solution. Focussing on local solutions for local problems would be the best approach.
I hope The new black movie actors went to Zimbabwe to learn their accent,this seems to be what they are going for.
They’ll be ok because they are not trading gold for oil or Euro 💶
Actually this is the solution against inflation
With limited printed money around, u eliminate hyper inflation
People will buy more zimbabwe coins
Gaddafi….
Britain is coming for you people… They will fight this to a stand still…
Africa united the west comto u now .no gas or oil
Coins for the rich 1800 US madness
Next step gold coin bond notes!!
Wait till illigal money changers start controlling gold prices in the streets 😂
Goodluck
Please south africa do the same
According to the latest figures from the Zimbabwe National Statistics Agency, the country’s annual inflation rate reached 191% in the second quarter of the year. Jun 29, 2022
Zimbabwe gdp per capita for 2021 was $1,737, a 43.03% increase from 2020.
Source: Macrotrends; Twenty Ten Daily
2:02
What?! you wanna stop of being the slave of The West? Wait till NATO comes! Because they will….🤣
The only thing that will save zimbabwe and the rest of the world from inflation is pi coin. Pi coin knows no inflation and it’s easily accessible. Pi is the future world reserve currency. Soon all government currencies and banks 🏦 will be gone as they are the reason behind worlds economic crisis and poverty. Good thing is that pi is still free at the moment. So i encourage all zimbabweans and the rest of the world to embrace pi and witness the greatest economic boost that has never been seen in the world. Take advantage of the free pi that will soon be an affordable.1 pi =$314,159
just need more gold
Zimbabwe has itselft to blame. The suffering of the people was brought on by their inhumane murders of the farmers.
Economically this move makes a brilliant sense…but let’s wait and see it on the ground
Why buy gold from these fraudsters when you can do it from more reputable sources
CIA coming for them
Calling the Western thieves to come and raid your Central Bank
Ordinary People can make collective to pool together there money and buy those gold coin to protect their savings,it can work something like Bitcoin,has real value cause it tangible.
Can’t understand what will the poor do,how will they buy these coins 🤔
Five percent is too much.
Well, If I had cash, I’d have brought it. Unfortunately I’m Unemployed and Jobless.
If I was a shop owner, I would only take the GOLD or SILVER coins. Because the USD will have no VALUE soon.
Kill the corruptions in your country. That’s the first thing that you’ll must do.
It could somehow work as suspension into inflation. Just the zimbabwe central bank should carefully consider how much gold the country has. Its OK to peg the money into gold, so the government will know when to stop printing money, which is when a lot of gold already circulated as zimbabwe gold coin.
Dollars have cents. Rubles have kopecks. Yuan have fen. There should be silver for the gold.
Sunctions must be banned all over the world because they are weapon of mass destruction, they using sunctions as a weapon against poor people.
They going John Wick style
I think Zimbabwe should export products and in return get gold coin or equivalent us dollars and not their currency.
They should peg and mint the coin to the Blockchain thereafter and hault the tangible coin production.
This is because the world’s future is eyeing on digital currency and assets.
This would save the country and the world the gold raw material for production of other relatively important goods other than being used as a media of exchange..
Thanks and great love from KE 🇰🇪🇰🇪
This a good move for Zombie
These are beyond the reach of ordinary citizens. They won’t last a year
Guys, you gonna 😭😭😭when they loot the coins to Dubai
Make me want to have one coin of that for my collection
Yah, takawanda madandaheads. Watch this space
Strategic move, now Zimbabwe need to form alliance with other SADC nations and ensure all resources, trades and service are done in the gold currency. Botswana, South Africa, Namibia have a large gold deposit,this will be a win win situation for southern African nations if they can agree. Zimbabwe doing this alone is a recipe for another Gaddafi elimination and sanctions from US of A.
Combination of China and Zanu pf = poverty.
Next…. Silver
22 karat?
How does masses can afford it. A few %of the population benefit while many at large still suffer…a positive effort but very helpful for the masses.
Greatest move you have done dollar is to king
Zimbabwe have more natural resources have to use properly
Inflation is just man-made that’s why it is solvable by just human intervention.
remind me of Gaddafi plan of “gold dinar”.
well that really end well…
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Indeed a true wealth
A wealth without interest and its own value
Excellent decision
In this land locked country its Impossible to trade globally. As long as international trade in not feasible then no point in buying gold. Gold is unproductive in common man’s hands. Economic reforms are needed and free trade agreements with neighboring countries having seaports is essential for Zimbabwean progress.
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Gold is a good idea but it will only serve the rich people. Introducing cryptocurrencies like Bitcoin, Litecoin and Monero would also be a better option for all the folks. Yet it demands good internet available.
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Rothschild doesnt like this
Muammar tried to help Africans but they abandoned him.