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Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency (47914 Views)
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Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by bassdow: 6:49pm On Apr 05 |
Gaddafi of Libya tried this, we know how it ended. hopefully, this president, who means well, have equally secured himself and his country very well. WESTern powers no dey like make anyOne try deDollarize. But wait Ooo, Russia gan sef no well. na dem cause all these deDollarization |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by Oromoni619: 6:49pm On Apr 05 |
Wahala |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by Akharmony: 6:49pm On Apr 05 |
Isnt 21days ultimatum to changing from old to new note not also a wicked idea.. why Africa just like suffer like this?? 1 Like 1 Share |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by Iceberg3: 6:51pm On Apr 05 |
superCleanworks: DenreleDave: CCIA: bassdow: Ekaette1621990: 2 Likes 1 Share
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Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by ogolemati: 6:51pm On Apr 05 |
the need change |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by Kobicove(m): 6:52pm On Apr 05 |
Shit hole country! |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by CCIA: 6:53pm On Apr 05 |
Iceberg3: 1 Like |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by dgitrader(m): 6:54pm On Apr 05 |
Good move! Just as in the days of old before the Americans bastardized the whole thing! All fiat currency will eventually go to zero. It is outright robbery for central banks to just print notes not backed by anything. More like a sophisticated Morden day slavery. They use inflation , tax and paper notes to suck Ur blood. This isn't about Zim, but a long overdue new Global order reset! 1 Like 1 Share |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by Phyde: 6:57pm On Apr 05 |
Could this be the reason why Gold has been flying to the moon? 1 Like |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by blowjohn(m): 6:57pm On Apr 05 |
Why their currency be like photocopy like that? |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by StraightGaay: 7:00pm On Apr 05 |
Skooltynz:People still do part time in 2024? |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by VIKTO83(m): 7:01pm On Apr 05 |
I thought they said Zimbabwe is out of inflation? Obasanjo nawa ooo. Why do we always denigrate our country? Even those shouting that Ghana has a better economy are living ina fool's paradise 1 Like 1 Share |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by Kaa4(m): 7:02pm On Apr 05 |
GOFRONT:Or you mean they will love it for Zimbabwe and hate it for NIgeria 1 Like |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by Skooltynz: 7:03pm On Apr 05 |
StraightGaay:. Will you pay the fulltime school fees for them? 3 Likes |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by Gmajor(m): 7:03pm On Apr 05 |
TUANKU:Una go just open mouth the talk nonsense. Oya give me example of a country that uses gold or silver backed currency? 2 Likes |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by Ebukamatth(m): 7:05pm On Apr 05 |
They lack someone They should call baba tinubu to help them Nigerians dey enjoy the man 1 Like |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by DeepSight(m): 7:05pm On Apr 05 |
TUANKU: Nope. That was in the past. The gold standard is history and has been for over fifty years. |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by Chicentt(f): 7:06pm On Apr 05 |
You well so? richeeyo: |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by Xxxylxxxx: 7:06pm On Apr 05 |
Skooltynz:People still dey go poly? |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by Dpharisee: 7:09pm On Apr 05 |
Skooltynz:France frustrated the ECO using their puppet in Ivory Coast Allasane Ouattara 1 Like |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by Cantonese: 7:10pm On Apr 05 |
Shameless, corrupt people, who have other the years, with their own hands ruined their own economy. |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by richeeyo(m): 7:12pm On Apr 05 |
TUANKU:Only if you knew what we saying |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by KennethOkonkwo: 7:13pm On Apr 05 |
VIKTO83: Honestly ...IT IS A DISEASE! Common among the biafrans though. Very few economy is performing better than ours,may be EGYPT |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by Benwallt(m): 7:14pm On Apr 05 |
Skooltynz: It won't. African countries are too unproductive to have a unified currency. Each European has unique product from respective members. |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by TUANKU(m): 7:19pm On Apr 05 |
DeepSight:Commodity correlated currencies. 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. The value of the Australian dollar despite not being backed by their commodity asset (Iron) officially, it still has a significant effect on their currency. 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. These are all large exporters of oil, a commodity with a high value in todayās world that relies upon it as a resource. There are no currencies that are backed directly by gold. However, this doesnāt mean that gold or other commodities are irrelevant to their economy or currency. The Zimbabwe ZiG is backed by both gold and foreign currencies. 3 Likes 2 Shares |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by TUANKU(m): 7:22pm On Apr 05 |
richeeyo:Sorry Einstein i have no idea about commodity correlated currencies. That the gold standard is gone does not mean commodities like gold and iron are not used to back currencies. It happens in Australia, Norway, Colombia, Canada...you can go check it out Einstein What a dork you are. 2 Likes 1 Share |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by tnerro1(m): 7:24pm On Apr 05 |
Could this be one of the reasons the president was sanctioned by the US recently? |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by VIKTO83(m): 7:24pm On Apr 05 |
KennethOkonkwo: I'm feom Abia state bro |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by CCIA: 7:25pm On Apr 05 |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by Hassanmaye(m): 7:27pm On Apr 05 |
HonNL:Wow |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by RenaissanceGuy: 7:28pm On Apr 05 |
Asonaijaaso:Please, you people should stop this propaganda already. The man was a casualty of the Arab Spring that brought down a lot of Arab governments and the way he was trying to use the military to crush his own led to a civil war, the same way Syria's own has also led to a 12-year old war. 2 Likes 1 Share |
Re: Zimbabwe Drops 'battered' Dollar, Introduces Gold-backed 'ZIG' Currency by Cmeo(m): 7:30pm On Apr 05 |
Hurray, as Zimbabwe is on the pact to recovery, if truly the new currency is backed by gold. Gold backed currency is what would make Africa economy to outperform other economics fast. It will be difficult for Africa to win the economy battle of papers and ink currency not in their domain and regulated by someone else. 1 Like |
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