Michael Cohen 迈克尔科恩’s Post

✨🌟Golden Opportunity: 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, making it the sole legal tender as early as 2026. 💰🇿🇼 The country aims to leverage this for international acceptance and use. 🌐 Let's watch what happens. The track record isn't stellar, but gold has been a reliable 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. Other nations are starting to hint at backing their currency with gold. 🔄💛 #GoldStandard #Zimbabwe #BRICS #GlobalEconomy #GoldBackedCurrency #AfricaRising #FinancialTrends #GoldRush #CurrencyRevolution #NewEra 💹✨🌍 🔔⚖️💡💰

✨🌟Golden Opportunity: 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, making it the sole legal tender as early as 2026. 💰🇿🇼 The country aims to leverage this for international acceptance and use. 🌐 Let's watch what happens. The track record isn't stellar, but gold has been a reliable 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. Other nations are starting to hint at backing their currency with gold. 🔄💛 #GoldStandard #Zimbabwe #BRICS #GlobalEconomy #GoldBackedCurrency #AfricaRising #FinancialTrends #GoldRush #CurrencyRevolution #NewEra 💹✨🌍 🔔⚖️💡💰

Over 33 currencies in Africa and none of it is being used for global transactions except the dollar. It brings me to think of what we can do to correct the current system and situation of African currencies. How did the dollar become and ended up being so powerful? Can any African currency grow to become that powerful? What are we doing wrong with our currencies in Africa? Which African currency can compete with the dollar in terms of strength? Is it possible to have one currency that could be used on the African soil as a medium of transaction alongside other currencies? I welcome opinions from all around the world as we deliberate on making Africa a better place! 🎈🎈🎈🎈🎈🎈🎈🎈🎈🎈🎈🎈🎈🎈🎈🎈🎈🎈🎈🎈🎈 #LinkedIndiscussion #Myafrica #Africa #globalimpact #green #LinkedInopportunity #commerce #agriculture

ICYMI: Review of Zimbabwe's New Currency: Zim Gold (ZIG) - Interview discussion on the new Zimbabwean currency called Zim Gold (ZIG) which was launched on 6 April 2024. The discussion looks at how the currency will work since it is backed by gold, precious minerals, and a basket of foreign currencies. The discussion focuses on the challenges to previous currencies launched by the Reserve Bank of Zimbabwe, how the ZIG is different compared to the previous currencies including the Zim Bond Notes, and whether the ZIG will be successful. Listen to the full interview here: https://lnkd.in/dBAUYKMz. #AU #SADC #Zimbabwe #EconomicOutlook #InternationalAffairs

Absolutely. African economies would benefit tremendously from ditching fiat currencies. The evidence clearly shows that the era of central bank-managed fiat currency systems has been particularly chaotic and impoverishing in Africa. Like previous attempts at launching a “gold-back” currency in Zimbabwe, the current attempt, the ZiG, is likely to face the same fate. Government currency initiatives are likely to continue to fail in Africa for various reasons. To establish a stable and trustworthy African currency, policymakers should adopt the nilar instead. A market-based gold currency system like the nilar can succeed in gaining trust and provide African economies with a much-needed stable and reliable currency. By implementing the nilar, policymakers can solve long-standing monetary and economic issues effectively. The nilar provides a solution to instill market confidence and stability, which is essential for fostering genuine economic development and prosperity across the continent. —— PS: Our latest paper brings monetary clarity and provides crucial new insights into the nature and vital functions of money in enabling modern societies to thrive. Learn more: https://lnkd.in/db7XiQX8 #Africa #Africonomics #Economics #money #monetarypolicy #centralbanks #AfricanEconomies #EconomicInsights

Zimbabwe Introduces New Gold Backed Currency! Its a smart but a risky move. Currently valued at 1 USD = 13.56 Zig, its stability will mostly depend on the Gold Reserves the country has and the value of Gold. Let’s see how that works out! #Zimbabwe. #GoldbackedCurrency #EconomicRecovery

Top 5 strongest currencies in West Africa: 1. CFA Franc (XOF) - West African CFA franc, used in 8 West African countries: Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal, and Togo. Exchange rate to USD is approximately 1 USD = 612 XOF. 2. Nigerian Naira (NGN) - The currency of Nigeria. Exchange rate to USD is approximately 1 USD = 1,300 NGN. 3. Ghanaian Cedi (GHS) - The currency of Ghana. Exchange rate to USD is approximately 1 USD = 13.83 GHS. 4. CFA Franc (XAF) - Central African CFA franc, used in 6 Central African countries and in Equatorial Guinea. It's included here as it is also used in some West African countries. Exchange rate to USD is approximately 1 USD = 612 XAF. 5. Guinean Franc (GNF) - The currency of Guinea. Exchange rate to USD is approximately 1 USD = 8,607 GNF.

Going back to the gold standard is the most audacious move that any country can make today. At this point, Zimbabwe might probably have one of the stongest currencies in Africa and probably the entire world.

"Zimbabwe has officially launched a new gold-backed currency." - Zimbabwe! 🇿🇼 has just launched a new gold-backed currency called the ZiG (Zimbabwe Gold) to combat inflation and stabilize its economy. - The ZiG will replace the struggling Zimbabwean dollar and will be backed by a basket of reserves, including foreign currency and precious metals like gold. - This move is aimed at bringing simplicity, certainty, and predictability to Zimbabwe's financial landscape. 💹 - Starting today, banks will convert existing Zimbabwe dollar balances into the new ZiG currency, which will be available in seven denominations ranging from 1 to 200 ZiG. 🏦 -This new gold-backed currency marks an important step for Zimbabwe in tackling its economic challenges and setting a foundation for a more stable financial future

Addressing one problem while inadvertently spawning others: the plight of a faltering Banana Republic. Despite the challenges, many Zimbabweans have chosen to escape the grip of corruption, seeking refuge in countries like South Africa, New Zealand, Australia, the UK, and Canada. With Zimbabwe falling behind by a century, even smaller nations like Benin lagging by 50 years. Now under Chinese ownership, Zimbabwe has become fertile ground for numerous Chinese enterprises and their citizens little slaves . Zimbabwe's new currency, Zimbabwe Gold (ZiG), introduced on April 5, 2024, has appreciated by over 2% against the United States dollar on the official market. However, the lack of an effective forex platform for businesses using the new currency has led to the growth of a thriving black market. This issue is a concern for many, including President Emmerson Mnangagwa, who delivered his State of the Nation address on April 3, 2024, in Harare. The absence of a reliable forex platform for ZiG users is a significant challenge that must be addressed to ensure a stable economy. #Zimbabwe #ZiGcurrency #ForexPlatform #EconomyConcerns