Entry Submitted by Vee at 10:03 AM ET on July 26, 2022
- “MZ: this was big thing happening today… Article: “Zimbabwe debuts gold coins as legal tender to stem inflation” These coins became available for purchase today. This is gold backed money…..this is big…..this is HUGE.
- Member: in article….one coin costs over $1,824.00……”
How are they fixing the price ? To what is it being weighed-pegged against ? How can Zimbabwe say it’s fixed to it’s market value.. how do we find that rate?
I can see that they say it is the value of another’s countries currency ..Russia or some other country that its currency value is vary good ..Switzerland would be the best, because its value is about the best in the world.
SO.. will it be represented in its own paper currency and economy?
Remember … gold (silver) is a commodity, its value is based on several factors .. mostly supply and demand.
Well I just saw this on Youtube..just after I sent this posting ..
Zimbabwe launches gold coin as currency to battle extreme inflation..Jul 26, 2022
“Zimbabwe has launched gold coins to be sold to the public in a bid to tame runaway inflation that has further eroded the country’s unstable currency.”
It will be determined by the International gold price plus 5% production rate.. 2000 minted @ 1800.
PS.. what had Cue posted.. Gold will bring down the Fed Res.? Central Banks ?
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