24Knews Gold Thread

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Acton Boy
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Re: 24Knews Gold Thread

Post by Acton Boy »

Bottom post of the previous page:

Link from Mario64.

https://www.myrmikan.com/pub/Myrmikan_R ... _07_13.pdf
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Pixel8r
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Re: 24Knews Gold Thread

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Zimbabwe launches gold coins as legal tender to tackle hyperinflation

According to the International Monetary Fund, inflation in Zimbabwe reached 837% (year on year) in July 2020 and, although tighter fiscal policy helped reduce it to 60.7% by the end of last year, it remains in the high double-digits.
Zimbabwe has launched new gold coins to be sold to the public in a bid to tackle chronic hyperinflation.

The gold coins - called Mosi-oa-Tunya - will have "liquid asset status", meaning they can be converted to cash, traded locally and internationally, and used for transactions, the Reserve Bank of Zimbabwe said.

People can only trade the coins for cash after holding them for at least 180 days.

Zimbabwean economist Prosper Chitambara said: "The government is trying to moderate the very high demand for the US dollar because this high demand is not being matched by supply."

According to the International Monetary Fund, inflation in Zimbabwe reached 837% (year on year) in July 2020 and, although tighter fiscal policy helped reduce it to 60.7% by the end of last year, it remains in the high double-digits.

This wipes away the value of people's savings - many people saw their savings wiped out by the 5 billion per cent inflation seen in 2008, according to the IMF.

This insecurity affects trust in the local currency, the Zimbabwe dollar - many retailers don't accept it and many Zimbabweans prefer to use US dollars for savings or daily transactions...
"Money is Gold, and nothing else"
(As John Pierpont Morgan once stated under oath before the USCongress and the Pujo Commission in 1912)
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Laura
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Re: 24Knews Gold Thread

Post by Laura »

^ Financial Scam Date 109:- Gold, second in line after (what they think is) the usd. :twisted:
"Human beings are poor examiners, subject to superstition, bias, prejudice and a profound tendency to see what they want to see rather than what is really there." - M. Scott Peck
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Pixel8r
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Re: 24Knews Gold Thread

Post by Pixel8r »

Laura wrote: Tue Jul 26, 2022 7:16 am ^ Financial Scam Date 109:- Gold, second in line after (what they think is) the usd. :twisted:
If you lived in Zimbabwe and your local currency was hyperinflating at the rate it is the dollar would appear very stable. Currency is required, gold is not practical as a transaction currency until it is linked to a digital transfer mechanism. Great for saving though.

Financial scam date 109?
"Money is Gold, and nothing else"
(As John Pierpont Morgan once stated under oath before the USCongress and the Pujo Commission in 1912)
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Pixel8r
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Re: 24Knews Gold Thread

Post by Pixel8r »

"Money is Gold, and nothing else"
(As John Pierpont Morgan once stated under oath before the USCongress and the Pujo Commission in 1912)
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Laura
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Re: 24Knews Gold Thread

Post by Laura »

Pixel8r wrote: Tue Jul 26, 2022 8:00 am
Laura wrote: Tue Jul 26, 2022 7:16 am ^ Financial Scam Date 109:- Gold, second in line after (what they think is) the usd. :twisted:
If you lived in Zimbabwe and your local currency was hyperinflating at the rate it is the dollar would appear very stable. Currency is required, gold is not practical as a transaction currency until it is linked to a digital transfer mechanism. Great for saving though.

Financial scam date 109?
Re Zimbabwe, yes I know. My point was the scam.

Re 109. 109 years (?) since the Fed Res came into existence, expressed the Star Trek way.
"Steady as she goes Mr. Zulu".
"Human beings are poor examiners, subject to superstition, bias, prejudice and a profound tendency to see what they want to see rather than what is really there." - M. Scott Peck
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