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Gold Telegraph
@GoldTelegraph
BREAKING
NEWS ZIMBABWE’S CABINET HAS APPROVED A ROADMAP TO REPLACE THE US DOLLAR WITH ITS GOLD-BACKED CURRENCY FOR TRANSACTIONS
Interesting.
Many thought this was impossible.
“Dollars have been used for past 15 years in the country…”
Source: https://www.bloomberg.com/news/articles/2024-08-06/-zwg-usd-zimbabwe-cabinet-says-de-dollarisation-roadmap-is-now-in-place
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Gold Telegraph
@GoldTelegraph
The Allure of Gold:
A growing global trend as paper currencies FLOAT to zero.
How can you not notice?
Zimbabwe plans to fully replace the dollar with its gold-backed currency and make it the sole legal tender as early as 2026.
The country has also indicated that it intends to leverage the currency for international acceptance and use.
Let’s watch what happens. The country obviously does not have the best track-record with regards to c********n.
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However, gold has served as a excellent anchor throughout history.
Could this be the start of an avalanche?
Zimbabwe also wants to join BRICS.
Africa is becoming increasingly proactive in leveraging gold to strengthen its reserves, and other nations are slowly starting to hint at backing its currency with gold.
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Gold Telegraph
@GoldTelegraph
In 1971, the United States temporarily suspended the dollar’s convertibility to gold.
Fifty-three years later, the world is still waiting for its return.
In the meantime, the national debt in America is over $35 trillion, and global gold demand reached a RECORD in Q2.
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Alright.
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Gold Telegraph
@GoldTelegraph
BREAKING NEWS
THE BANK OF ENGLAND SAYS BRITAIN’S TOP EIGHT BANKS INCLUDING HSBC, BARCLAYS, LLOYDS AND NATWEST COULD BE WOUND DOWN IN A CRISIS WITHOUT THE IMMEDIATE NEED FOR TAXPAYER CASH
Give me a break…
The hits keep coming.
“The rules were thrown into doubt last year when the global banking sector was rocked by Switzerland forcing UBS to take over struggling Credit Suisse…”
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Gold Telegraph
@GoldTelegraph
The Bank of England, which is making taxpayers pay an estimated $100 billion+ to cover losses from quantitative easing, says taxpayers won’t need to bail out big banks if they collapse.
The irony here is unbelievable.
I feel like a comedian reporting on reality.
How sad?
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Gold Telegraph
@GoldTelegraph
Six days after this illustration, the value of Japan’s stock market shrank by about $1.1 trillion over three days.
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That’s equivalent to Sweden’s entire stock market cap.
The entire world now hears the circus music.
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Gold Telegraph
@GoldTelegraph
The Bank of Japan just said it will not raise interest rates when financial markets are unstable.
These people’s heads are totally spinning.
Somebody remind them about the yen.
How can you not laugh?
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