Zimbabwe about to have a stronger currency than the US dollar ! Gold backed currency!

This is so funny...

RBZ urges gold-backed Zim dollar

THE central bank says the country must consider adopting a gold-backed Zimbabwean dollar warning that the US greenback’s days as the world’s reserve currency are numbered.

Government ditched the Zimbabwe dollar in 2009 after it had been rendered worthless by record inflation levels and adopted multiple foreign currencies with the US dollar, the South African Rand and the Botswana being the most widely used.

Finance minister Tendai Biti says the country needs at least six months import cover and a sustainable track-record of economic growth, inflation stability and above 60 percent capacity utilisation in industry before the Zim dollar can be brought back into circulation.
However central bank chief, Dr Gideon Gono said the country should consider adopting a gold-backed currency.

Epic. WAY TO GO ZIMBABWE! You have seen the light! Took you a while....

How long before Zimbabwe gets invaded for having a real currency? After all the MSM would find it quite easy to find ``reasons`` to invade... Mugabe is, after all, a ruthless dictator.

I seriously cannot stop laughing. This is just too epic.

Cue the ``You know you a joke when`` ... ``Zimbabwe has a more credible currency than yours.``

Make Zimbabwe currency the world currency!

reply to post by Vitchilo


yeah africans you have to raise !

Could you imagine the power behind an african alliance?

They have a lot of heart.

Epic. WAY TO GO ZIMBABWE! You have seen the light! Took you a while....

How long before Zimbabwe gets invaded for having a real currency? After all the MSM would find it quite easy to find ``reasons`` to invade... Mugabe is, after all, a ruthless dictator.

I seriously cannot stop laughing. This is just too epic.

Do you actually know anything about Zimbabwe and the reasons for them using the dollar in the first place?

reply to post by Misterlondon

Do you actually know anything about Zimbabwe and the reasons for them using the dollar in the first place?

Of course I know. Hyperinflation, second biggest inflation rate in history. Crappy economic policies, printing, etc...

Rhodesia (former Zimbabwe name) was pretty rich back in the day... now they might just go back to being rich again if they go to a gold-back currency... and if they apply the theory to the letter...

Originally posted by Vitchilo
reply to post by Misterlondon

 

Do you actually know anything about Zimbabwe and the reasons for them using the dollar in the first place?

Of course I know. Hyperinflation, second biggest inflation rate in history. Crappy economic policies, printing, etc...

Rhodesia (former Zimbabwe name) was pretty rich back in the day... now they might just go back to being rich again if they go to a gold-back currency... and if they apply the theory to the letter...

edit on 15-5-2011 by Vitchilo because: (no reason given)

Yeah spot on.. I wasn't sure from your post if you knew that..
They were the second biggest economy in Africa and completly self sustained at one point..
I doubt they will be rich again though, well not in the immediate future.. The infrastructure has totally fallen apart there..

Does Zimbabwe have enough gold to back a gold based currency?

If they do, I tip my hat to them. Of course, the first time that they default on a loan because they can't print more unbacked money to pay it off the currency would collapse, but it's a good start.

I would like to see Mugabe go before Zimbabwe starts to rise.

reply to post by Vitchilo


Folks over there better watch out.
I believe this is why we are currently in Libya.
just one source a google search will find several other of the same views.

Originally posted by babybunnies
Does Zimbabwe have enough gold to back a gold based currency?

I doubt even the Zimbabwe finance minister knows the answer to that question babybunnies, but Irag does....

[atsimg]http://files.abovetopsecret.com/images/member/d2dec2c376e5.jpg[/atsimg]

[atsimg]http://files.abovetopsecret.com/images/member/51f5f9b5a707.jpg[/atsimg]

....er, make that "did"

Originally posted by OBE1

Originally posted by babybunnies
Does Zimbabwe have enough gold to back a gold based currency?

I doubt even the Zimbabwe finance minister knows the answer to that question babybunnies, but Irag does....

[atsimg]http://files.abovetopsecret.com/images/member/d2dec2c376e5.jpg[/atsimg]

[atsimg]http://files.abovetopsecret.com/images/member/51f5f9b5a707.jpg[/atsimg]

....er, make that "did"

wiping..up..drool