Zimbabwe economy: New gold backed currency replaces local dollar

If the currency is not immediately convertible to gold it will fail. Who is going to trust any politician anywhere? Many people would rather have USD. Don't bet on USD for much longer. American politicians are destroying it. I am getting gold, silver and Bitcoin.

The best choice ever to back the currency by Gold. This new currency is nothing like the past fiat currency which weren't back by Gold, so the new currency have the value of real Gold. It creates more reliability and stability to the Nation's Finance and Economy. Inflation is only caused by greedy people who are on top of the chain not by Nation it self. When paper money worth nothing keeps being printed while the Nations debts keep rising just because the resources being depleted due to being sold dirt cheap to billionaires of the world, while they are the ones getting most of the profits. These dirty scumbags that the ones need to be accountable.

Malaysia, South Korea, Japan and Taiwan must do this

Rubbish gate away

A gold-backed currency is indeed the solution. The problem is if the government is handling it. There's no way they would not be tempted to print more than the gold value.

You all know that $ 1 000 000 000 note is worth a fortune at auctions .

I can smell the gold mafia making plans to smuggle that gold in exchange of regular items 💀

For all doubting in the comment sections, saying the zimbabweans don't have trust in the currency. shut it. They moved from a fiat currency backed by nothing to a currency backed by something. if you'll ask me that's a big and commendable leap. even now the United State $ is backed by nothing, the petrol arrangement is faltering and can't stand the test of time! Zimbabwe has gotten herself a very valuable currency and they can back it up. I assume you've all watch the news just like I have, featuring few selected people not satisfied with the new currency, that's the work of propanganda.if it's not going to be impactful and uplifting to the lives of zimbabweans, the IMF will not have a negative reaction to it. right IMF is *ucking angry and they immediately sanctions 8 groups in Zimbabwe just this month because of this. so if you're African or black American, just know that your people have started again, the same Lybia treatment because they are threatened by a REAL currency.

IWE haru mutasa ma reports ako ese unoenda kumatapi etc unotsvaga kunetsvina…une musi wawakamboendawo kwakachena here? Ingakuriko wani

I'm not very much optimistic. Trouble coming soon.

It will work

They should use just digital currency.
I don´t see a banknote since 2020 in my country.

Africa is rich in natural resources, including gold, diamonds, oil, uranium, and iron ore, but it is also the poorest continent in the world 😢🤔🤔

Just watch how the US will try to stop this ! May other countries follow suit quickly ! 🩷✊🏼🥳

Yes! It Works but Some Transactional Fees have to be done for on All Thresholds of Invoice Incomes.

The problem is, where's the gold?

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…

As long as the world is a slave to US dollars . Nothing will change

Paper Money is a total fraudulent and instrument of oppression and slavery.

so biased that out of the entire country, you went to Mbare to film this 😂

How anyone still accepts their money? I guess dollarization

Zimbabwe needs a new currency every 6 years. CHANGE the CURRENCY dose NOT CHANGE the PROBLEMS IN THE ECONOMY.

Since gaining independence in 1980, Zimbabwe has undergone several currency changes due to various economic challenges, including hyperinflation. Notable currency changes include:

Zimbabwe Dollar (ZWD): Upon gaining independence in 1980, Zimbabwe used the Zimbabwean dollar (ZWD), which replaced the Rhodesian dollar at par.

Zimbabwe Dollar Devaluation (1983): In 1983, the Zimbabwean dollar was devalued to address economic imbalances.

Second Zimbabwe Dollar (ZWN): In 2006, due to hyperinflation, the original Zimbabwean dollar was replaced by the second Zimbabwean dollar (ZWN), which had three fewer zeros.

Third Zimbabwe Dollar (ZWR): In 2008, Zimbabwe experienced hyperinflation, leading to the issuance of the third Zimbabwean dollar (ZWR), which again had fewer zeros.

Fourth Zimbabwe Dollar (ZWL): In 2009, due to continued hyperinflation, the third Zimbabwean dollar was abandoned, and the government adopted a multi-currency system, with the United States dollar being the primary currency in circulation. However, in 2019, Zimbabwe reintroduced the Zimbabwean dollar (ZWL) as the country's sole legal tender, discontinuing the use of foreign currencies for local transactions.

Introduction of Bond Notes: In 2016, Zimbabwe introduced bond notes, initially pegged at par with the US dollar, to address cash shortages. These were essentially a form of surrogate currency, not a new national currency per se, but they played a significant role in the country's monetary system.

Zimbabwe Dollar Reintroduction (2019): As mentioned, in June 2019, the Zimbabwean dollar (ZWL) was reintroduced by the government, effectively ending the use of foreign currencies for domestic transactions.

Please note that these currency changes are a simplification of a complex economic history in Zimbabwe. The country has experienced significant inflation and currency instability over the years, leading to frequent adjustments and changes in its monetary policies.

West: Zimbabwe needs to be liberated from terr*rists, gen*cide, human rights violations, weap*ns of mass destruction, antisemitism, dictators, etc etc…