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Out Of Mind » DINARIAN SCAMTASTIC NEWS » RV/GCR, GURU CHATTER & NESARA INFO » Zimbabwe prints new gold backed currency, ready to be issued to public

Zimbabwe prints new gold backed currency, ready to be issued to public

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PurpleSkyz

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Admin

Zimbabwe prints new gold backed currency, ready to be issued to public


Zimbabwe prints new currency…….to be issued at a moment’s notice



Itai Mushekwe COLOGNE- President Robert Mugabe’s administration, is reportedly sittings on wads of a new Zimbabwe currency to be backed by a gold standard, which can be issued at a moment’s notice as a home grown panacea to manage a dwindling economy, The Telescope News, has been told. The idea for the gold-backed currency was first discussed in private, between


Itai Mushekwe

COLOGNE- President Robert Mugabe’s administration, is reportedly sittings on wads of a new Zimbabwe currency to be backed by a gold standard, which can be issued at a moment’s notice as a home grown panacea to manage a dwindling economy, The Telescope News, has been told.
The idea for the gold-backed currency was first discussed in private, between Mugabe and fallen Libyan leader Muammar Gaddafi, on the side-lines of the inauguration of South African leader Jacob Zuma, in Pretoria in 2009, according to senior government officials.

Gaddafi wanted a common gold currency for the whole African continent, while Mugabe had proposed that it was better for the African Union (AU) member states to introduce the gold standard money individually, before announcing one common currency at a later stage so as to throw international financial players into confusion.

Disclosures of the top secret, come at a time when finance minister, Patrick Chinamasa has been defending the country’s use of a multi-currency regime since 2008, as a tactical strategy to contain “the enemy” because he cannot “devalue his own currency”.




Harare officially uses a currency basket, which includes: The Botswana pula, the British pound, the euro, the South African rand and the US dollar as the citizenry monetary options, following the collapse of the Zimbabwe dollar due to mismanagement of the economy by Zanu PF. Early this year the RBZ added four new currencies, as legal tender namely: the Australian dollar, the Chinese yuan, the Indian rupee and the Japanese yen.

Dispite concerns that introduction of the new currency alone, without addressing the supply side of the economy, characterised by company closures, will fuel a new wave of inflation, Mugabe appears determined to rid the country of what his backers are calling “Western monetary imperialism”.
This reporter, wrote about Zanu PF’s threats to return the local dollar last year in a London based online publication, whose report brought to light Mugabe’s intention to railroad a new currency as early as June 2015.

Economic analysts yesterday said, the idea of introducing new money prematurely was detrimental to the health of the economy, which has somewhat stabilised owing to the use of the multi-currency regime.

They point out to growth and external competitiveness challenges, which Zanu PF’s economic blueprint ZimAsset fails to address, as indicated by the economy’s low trend growth and poor foreign direct investment levels, declining share in world exports, coupled by high current account deficits, and an external debt now topping US$8 billion.

An economic adviser to the central bank also said government does not have the adequate resources such as money, facilities and logistics to introduce a new currency in the middle of growing political tensions.

“The budget for the project in foreign currency terms is simply beyond the state’s resource capabilities,” she said.

The new printed currency, which is said to be warehoused at various high security locations in the capital, including Fidelity Printers and Refiners in Msasa comes in bank note denominations of $2; $5; $10; $20 ; $50 ; $100 and $200 according to Reserve Bank of Zimbabwe (RBZ), International banking sources. Fidelity Printers and Refiners, is a subsidiary of the central bank, and the largest security and commercial printing company in Zimbabwe, which also specializes in buying gold.
A coin regime of 1cent; 5cents; 10c; 20c; and 50c reportedly accompanies the new notes.







“The new money is already in the country, but I cannot disclose to you where it was printed, because that was done abroad,” said the RBZ staffer. “We have many security locations in Harare where the new Zimbabwe dollar is being kept for security reasons. Once the president authorizes it’s issuance, it will be in circulation within 24hours after the central bank governor makes a public announcement to that effect. The only reason the new currency is being withheld, is to do with national security. There was an intelligence briefing made to President Mugabe, about the dangers of removing the multi-currency regime without careful planning, as there was a likelihood of a mass revolt in protest of the Zimbabwe dollar, which many locals do not want to see especially at this moment.”

Continue Reading at ...... http://www.thetelescopenews.com/zimbabwe-news/5916-zimbabwe-prints-new-currency-to-be-issued-at-a-moments-notice.html
Posted by enerchi at 12/19/2014 01:09:00 PM

Thanks to: http://www.ascensionwithearth.com



  

Herb Lady

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Um, so, for those who bought the zim that was printed in 2008? - What happens with that?  Are those people going to be able to exchange those old notes?



Take care of the land and the animals and they will take care of you!

Come visit my site at:  http://onenaturesmagic.com/

Herb Lady

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Thanks Purps!



Take care of the land and the animals and they will take care of you!

Come visit my site at:  http://onenaturesmagic.com/

PurpleSkyz

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You're welcome HL!

And good question! I am not invested in Zim so I don't have a clue. Maybe yman can offer you some answers??



  

Herb Lady

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Hey Yman! If you are here tonight, or whenever you can be, can you help with this, please! Thanks!



Take care of the land and the animals and they will take care of you!

Come visit my site at:  http://onenaturesmagic.com/

bs4ever

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O asked him same question two days ago....



"आप सिर्फ यह है आप नहीं था क्या मतलब है यह देखने के लिए किया था"

ymoilman2


PurpleSkyz wrote:You're welcome HL!

And good question! I am not invested in Zim so I don't have a clue. Maybe yman can offer you some answers??

My Source Said ZIM Dollar Would Be Revalued 1-1 VS USD Eventually. IT DES NOT MAKE SENSE IF THE RATE REMAINS THAT
ZWL-USD Exchange Rate of 0.0031 as of 11:02:39
Found at:BLOOMBERG

http://www.bloomberg.com/markets/currencies

NOTE: 2 ZIM DOLAR = X 0.0031. There Is No USD NOTEs Or COINS Available.[/b]

PurpleSkyz

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Admin
thanks yman



  

bs4ever

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I could not see any rates other than the previous on Bloomberg, yet various internet sites are supporting this claim. It is not looking to good for the hyper inflation notes though, it appears they will remain obsolete



"आप सिर्फ यह है आप नहीं था क्या मतलब है यह देखने के लिए किया था"

ymoilman2


bs4ever wrote:I could not see any rates other than the previous on Bloomberg, yet  various internet sites are supporting this claim. It is not looking to good for the hyper inflation notes though, it appears they will remain obsolete

XE Currency Converter

1.00 USD = 361.900 ZWD
US Dollar
↔Zimbabwean Dollar 1 USD = 361.900 ZWD  1 ZWD = 0.00276319 USD
Convert again  View Chart Mid-market rates: 2014-12-21 09:53 UTC


BLOOMBERG Currency Converter
http://www.bloomberg.com/markets/currencies/

Amount:  
From:
To:

1 Zimbabwean Dollar (ZWL) is equal to 0.0031 United States Dollar (USD) [/color]
ZWL-USD Exchange Rate of 0.0031 as of 11:02:36

bs4ever

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Yman

Thanks for the link, I can't see the difference in either US$ or GB£ conversions, they seem to be the same



"आप सिर्फ यह है आप नहीं था क्या मतलब है यह देखने के लिए किया था"

WTF

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Interesting that Novorossiya has a new gold backed currency all printed up and ready for release also. Just waiting on Prime Minister to sign the decree apparently.
Just saying :)

topspin2


i did some research on who owns the bank in Zimbabwe.......got very little info...what I did see however is the words... central bank.....Reserve Bank........these terms make me feel uneasy......

NanneeRose

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Admin
Admin
Oh so we will be shafted again!!



It's the simple things, small every day deeds of ordinary folk that keep the darkness at bay. Small acts of kindness and love.......~Gandalf~



Come visit me at www.heleneanne.com
Facebook: https://www.facebook.com/GetAnOilChange/

PurpleSkyz

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shafted... another wanker reference



  

NanneeRose

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Admin
Admin
Tool Squeezer..anothe one LOL!



It's the simple things, small every day deeds of ordinary folk that keep the darkness at bay. Small acts of kindness and love.......~Gandalf~



Come visit me at www.heleneanne.com
Facebook: https://www.facebook.com/GetAnOilChange/

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