Zimbabweans hit by 257% inflation: Will gold coins help?
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Definitely yes, but no one in the country can afford gold or gold coins because their currency is worthless.
They are anticipating a “trickle down” effect in the economy. Sounds sort of capitalist to me...at least I have heard that phrase before.
I would be curious how they are minting the gold coins and the amounts.
Gold would only be hoarded by those who have the means to purchase it in the first place. Sure it is doomsday money, but the advantages gold presents are still highly asymmetrical.
When any country finds itself in a hole, stop digging. Or at least turn the shovels to cutting a ramp so it is possible to walk back up out of the hole.
The currency is tied to the value of gold. That ought to stabilize inflation because of the set value of gold.