Zimbabwe Introduces New Gold Backed Currency

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Zimbabwe has dealt with MAJOR inflation over the years, including one period of hyperinflation when bread ended up being 10 million Zimbabwean dollars.

So once again, they’re dealing with it and their currency has lost so much value that they’re just making a new one, this time backed by gold, in the hope that it will keep stable.

The ZiG is set to be in circulation in just a couple of days, so what do you think? Will this work for Zimbabwe this time around? Should your country implement a gold backed currency?

➡️Read a transcript of this video here:

🗣️Let’s get this money!💰

[Sebastienobi]

Atleast they tried again and again and again....this african mentality...we dont give up ..proud of Zimbabwe

[MrJamaicanLion]

Thanks for the "history lesson." However, your assessment does not include the assault on the Zimbabwe government by nefarious forces. Nevertheless, I suspect many forces would naturally oppose gold-backed African currencies because it would put Africa on a firmer footing, so of course, they would criticize it without providing a deeper analysis of its viability. Most developed countries have two sources of power: gold reserves and/or military might. Africa has enough gold under its feet to back its currencies. I would love to hear YOUR take, rather than a repetition of other media (propaganda scripts)

[jiaweike]

This is amazing. A great news for Zimbabwe. I remember my Zimbabwean friend moved to New Zealand with his family seeking a better life. Now he can visit Zimbabwe again and feel richer. Just hope their government don't print too much money too quickly. But it wouldn't really matter; because countries can still survive under hyper inflation. Because People can trade and barter without money.

[theinvestmentcorner]

Try telling the US they can't make up money and just print.

[ouparamoba]

Travelling to Zimbabwe is stressful for South Africans because the US dollar is not friendly to the ZAR at all, I hope the ZIG will have a better exchange rate. It's not a good idea to earn money in rands here in South Africa, then cross into Zim and use your rands to pay for goods and services that are priced in US dollars. I paid R700 in Zimbabwe for goods which cost R150 in South Africa, it's crazy.

[zegwkxc]

This is the 1st of all countries to eventually have commodity backed currency. All fiat currencies inflate. They last about 50 years. Ours was created in 1971. By by federal reserve note

[TheMusicMan]

I love how this channel helps me to stay current with international financial news.

[ememuxd]

What's your point here, are you saying the Zig has failed before it's in circulation, are you trying to discourage us from using it. What's the commodity that backs the us dollars

[BJamnes]

It's seems you are selective in your analysis. Why did Zimbabwe drop using their own currency, that tells you exactly who the problem of Zimbabwe has been. Please do you reach before just making a video. How much is the US$ truly worth, since they are printing trillions but the US$ is not affected why is that. If 85% of trade in Zimbabwe is in US$s, it's being warned from exports and production. But when the media publish a narrative that since the whites were kicked of the land automatically Zimbabweans lost discipline of the economy, that should teach you who is truly undermining the Zimbabwe currency.

[qkhmfip]

The economy should stabilize and should be more manufacturing and trading globally, not only the currency issue

[howardmann]

No such thing as getting rid of old currency

[EmanuelMonte]

African get up take the things in your hand. Don't use us dollars

[henryhunter]

The imbecility of this woman is frustrating. Everyone is an expert on Zimbabwe and its problems.

[Deco_k]

Kal jamaica noh can do something like that too man