Judy Note Correction on Zim Bond Redemption
Thanks to Becky Subrahmanyam and MarkZ I have learned that this statement I made in past reports is not true: “Zimbabwe has announced their gold-backed currency and their bonds must be redeemed by Tues. 30 April 2024.”
There are three kinds of Zim money: 2008-2009 Zim Bonds, Zim fiat money and the new asset-backed Zig. MarkZ explained: “The Zim fiat money must be redeemed by Tues. 30 April 2024 for the new Zig. The time limitation has nothing to do with 2008-2009 Trillion Series Zim Bonds that we hope to exchange for USN.
The gold/asset backed currency is the new Zig currency and it does not need to be redeemed. Only the Zim fiat money needs to be redeemed by Tues. 30 April 2024.” I apologize for any misunderstanding this may have caused. …
Judy
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