chinchum:
I thought obasanjo advised we contact Zimbabwe on how to combat inflation.

Goody two shoes Baba.

DeepSight:


The value of the dollar has jack shit to do with the gold at Fort Knox. The dollar is fiat money.
Its laughable watching you embarrass yourself more and more.

I have told, you, pride is a stupid and terrible thing.
"Oh I didnt know," will not kill you. No one knows every thing.

mariahAngel:
Let's see how that works out.

TUANKU:

So why does the US govt engage in covert gold-bug operations like they did in Iraq and Afghanistan?

michigang:
what do you know apart from frying dodo

TUANKU:

Many currencies are backed by gold...and it did not lead to civil war.
NL Einsteins...The gold standard was dropped, there are no currencies that are backed directly by gold. However, this doesn’t mean that gold or other commodities are irrelevant to their economy or currency. There are plenty of examples of countries where their wealth and currencies are able to be tracked and correlated to a specific commodity or multiple commodities. For example, The Australian Dollar is sensitive to changes in iron prices as they are the largest exporter of iron worldwide. Many countries have a currency that is closely linked to oil with currency and economic fluctuations coinciding with oil price changes and availability. These include large economies such as Canada, Russia, Columbia and Norway.
There is correlation between commodity and currency...they have an effect on a currency that can be seen and tracked they are not directly backed by these commodities.
The Zimbabwe ZiG is backed by both gold and foreign currencies.

BRATISLAVA:
Theatrics.

Iceberg3:
Mugabe ruined this once beautiful country... Zimbabwean dollar those years,chai!!!!
Nna fear white man,o

mariahAngel:


Much more than your entire generation put together can ever know.

Even the dodo sef, them no born you well to attempt am!

michigang:
me and you this weekend for dodo frying contest lets see. You game?

NeoWanZaeed:

Thanks for schooling the ediot

CCIA:

Dangote fit bail that country out anytime anyday.

how can a whole country be backed by only $100 million cash and $185 million gold reserve making a total of $285 million

DeepSight:


Chai.

Illiteracy on parade.

.
What Is the Gold Standard?
The gold standard is a monetary system in which the value of a country's currency is directly linked to gold.

In 1971, President Nixon terminated the convertibility of the U.S. dollar to gold.

The gold standard is not currently used by any government. Britain stopped using the gold standard in 1931, and the U.S. followed suit in 1933, finally abandoning remnants of the system in 1973.

The gold standard was completely replaced by fiat money, a term to describe currency that is used because of a government's order, or fiat, that the currency must be accepted as a means of payment. In the U.S., for instance, the dollar is fiat money, and in Nigeria, the naira is.

https://www.investopedia.com/ask/answers/09/gold-standard.asp

Skooltynz:
The whole Africa should adopt a single currency like Europe I believe it will help our respective economies.

Yabatech partime form is now out, will close fifteenth of next month the earlier you apply the higher you chances of admission.if interest ed call
zero eight one two four zero six four three five three .

NeoWanZaeed:


You have absolutely no idea what comprehension and understanding means.


The guy has summed up all you are trying to say in the link you posted

Frayoworld:
No b only zig na WIG

michigang:
bitch, where have you been

CCIA:

Dangote fit bail that country out anytime anyday.

how can a whole country be backed by only $100 million cash and $185 million gold reserve making a total of $285 million

chinchum:
I thought obasanjo advised we contact Zimbabwe on how to combat inflation.

Goody two shoes Baba.

TUANKU:

Many currencies are backed by gold...and it did not lead to civil war.
NL Einsteins...The gold standard was dropped, there are no currencies that are backed OFFICIALLY by gold anymore since Switzerland in year 2000. However, this doesn’t mean that gold or other commodities are irrelevant to their economy or currency. There are plenty of examples of countries where their wealth and currencies are able to be tracked and correlated to a specific commodity or multiple commodities. For example, The Australian Dollar is sensitive to changes in iron prices as they are the largest exporter of iron worldwide. Many countries have a currency that is closely linked to oil with currency and economic fluctuations coinciding with oil price changes and availability. These include large economies such as Canada, Russia, Columbia and Norway.
There is correlation between commodity and currency...they have an effect on a currency that can be seen and tracked even when they are not directly backed by these commodities.
The Zimbabwe ZiG is backed by both gold and foreign currencies.

RemoveKebab:
They are about to get the American freedom
If you know you know.

DenreleDave:
Obj in the mud

BRATISLAVA:

Keep barking.

No need to project your family life on others. You are the dog, keep barking.