The Truth About Zimbabwe’s Plans to Launch a Gold-backed CBDC
The above chart says it all. It’s not a list any country wants to be on.
While it’s a step in the right direction to possibly stem another Zimbabwe hyperinflation event, unfortunately, it’s not a definitive RV/GCR signpost.
And, it’s certainly not GESARA.
It’s local, not global. There’s no bearing on ZIM bonds, it’s only about saving their current Zimbabwe Dollar in the local economy.
When Zimbabwe joins BRICS+ we will see the marker of redeeming 2008 ZIM bonds.
It’s a step in the right direction. Yet it has little significance to any 2008 ZIM Bond holdings.
This is a local plan by the RBZ to stop its population from continuously converting their ZIM dollars into USDs and Euros (the same issue is ongoing in Iraq). The reason people convert to USDs is because the local currency is very unstable (consistently loosing value to USDs and Euros). By Zimbabwe anchoring some of their currency to gold, they hope to reduce ZIM dollar instability and encourage more citizens to hold and spend ZIM dollars instead of other foreign currencies.
The question to be answered is how much gold will the RBZ use to back their currency and at what Gold:ZIM exchange rate. It’s also worth noting that this new plan is actually a gold-backed CBDC.
The bottom line is that we cannot exchange our ZIM “bonds” for the current ZIM gold-backed dollar “currency”. We need a GCR “Event” for that.
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