Where is this gold? Can I see it? Can I touch it?
Sound like one of those spams I get all the time.
I guess Zimbabwe learned its lesson from the last time it inflated its currency. The BRICS nations are working towards something similar to include other commodities like gas and oil in addition to gold. The dollar and all Western currencies are basically toast, just a matter of time. This was one of the main reasons for our proxy war with Russia. We’ll see how this goes with Zimbabwe. If it looks legit and they have the gold to back it up it should be interesting.
From the article:
“ The Reserve Bank shall only issue ZiG notes and coins against reserves assets actually held and managed by it, and the value of the ZiG issued and in circulation at any one time shall be anchored in and backed or covered by a composite basket of foreign currency reserves and precious metals received (mainly gold) and valuable minerals, held and maintained by the Reserve Bank in its vaults as part of the in-kind royalties.”
Not 100 percent gold backed, but a mix of gold AND foreign currencies AND commodities held in their territory . A good start in ending their currency crisis.
The world is realizing they can not use the printing presses ( listen up America) to create “ wealth”. The move to backing currency with commodities, food, gold, etc…tangible assets is finally happening. Expect a monumental “ shift “ in sovereign currency values- in other words- “ those that are last will become first, those first will become last”.
US Dollar: Backed by nothing.
What a world we live in.
How many Zig's are in circulation?
And how many ounces of gold are in the vault?
Use the math to find out how many Zig's it will take to buy an ounce of gold.
Now I want to know -- if all Zig's are redeemed for gold, how much gold is left in the vault? If the vault is empty, and there are still Zig's left over, THEN what is a Zig worth?
Does the gov't intend to print more Zig's? Do they promise?
but is there enough Gold in the world ,LOL
A gold backed currency is certain to be better than the decrepit US Dollar, with time.
You know what you doing. Take off every Zig.