Zimbabwe’s ZiG Currency Strengthens Day After Debut Even as it Roils Commerce https://www.bloomberg.com/news/articles/2024-04-09/zimbabwe-s-new-zig-currency-strengthens-on-second-day-of-trading
JON DOWLING
...w this on FB
The new Zim notes folks. Notice it says AA and pay to bearer of note on demand!
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Zimbabwe has reverted to the gold standard
While most countries abandoned the gold standard in the last century, some African nations are reconsidering its necessity to stabilize their economies. This month, the Zimbabwean dollar became the new "gold" currency. The need to switch to the gold standard has been a long-discussed issue in the country, with the Zimbabwean dollar experiencing a more than 500% depreciation, and the currency rate plummeting by over threefold in just the last three months.
The Zimbabwean dollar is a relatively new currency, established five years ago following the rise to power of the new president Mnangagwa. One of his first decisions was a complete overhaul of the national economy and financial system. This approach wasn't new for Zimbabwe: in the last decade, the country introduced and then removed from circulation ten independent currencies, each plummeting steeply and rapidly losing value.
Introducing the gold Zimbabwean dollar aims to stabilize the exchange rate and help the country combat endless inflation. Unfortunately for Zimbabwe, the gold standard might only last for a short period. The country's gold reserve currently stands at just one ton of gold, barely enough to cover one month of imports at current volumes. President Mnangagwa is trying to address this issue by seeking additional international aid and opening the country to foreign investors. Success, however, remains elusive.
Most international investors view Zimbabwe with caution, a country perpetually suffering from military coups and civil wars. Companies willing to consider investments are usually affiliated with military corporations and special services, posing a significant threat to the current president's regime. The viability of Zimbabwe's "gold" experiment will be tested over the next six months, as the country faces challenging negotiations with international creditors.
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Coffee with MarkZ and Andy Schectman. 04/10/2024
Member: Good morning dreamers. Good Morning Mark and Mods
Member: I hope everyone has a wonderful day today! The RV would be nice too.
MZ: It appears everything is prepared. Bond folks are still looking at the 15th through the 22nd. Banks are twiddling their thumbs and waiting for the “GO” signal. .
MZ: I continue to hear there is a possibility for the lower denoms to be released in Iraq. Some Iraq contacts believe we may get an announcement within today.
Member: I was at gas station this am and the Loomis guys were there refilling the ATM and I asked him if he knows about and when the new gold backed currency is coming out and he said by 2025.
Member: I heard we need to keep an eye out for announcements today from Iraq.
MZ: I know my chatter from a few Iraqi contacts are pretty much the same thing.
Member: Mark - can you ask your contact in Iraq to let you know if he sees the lower denoms come out? Frank26 says when the lower denoms come out you will see the new rate.
MZ: They are not seeing lower denominations yet. But they are seeing more businesses and institutions with the cut sheets/samples showing the lower denominations. But I agree that once you see the widespread distribution of the Lower denominations /notes- then it is done and we are here. They are clearing preparing and educating the Iraqi people.
Member: Will Iraqs lower denominations be gold backed like the ZIG?
MZ: Good question – We assume all national currencies will be similar to the ZIG as soon as the reset occurs. It is greatly expected they will all be gold, backed, metal backed, asset backed.
Member: Is today the last day of Ramadan?
Member: I believe yesterday was the last day of Ramadan. Today is the first day of Eid El Fitr and the Iraqi stock market is closed now until April 14th.
MZ: Here is one to pay attention to today. “Chinese cement maker halted after 99% crash in 15 minutes” This happened in their trading day today. If there is no housing market – there is no need for all the industries that go with it. Iron, steel, plumbing , cement…..you are watching the bubble crash live. And it will domino.
MZ: “US Inflation hotter than expected for fourth straight month.” One of these days the plunge protection team will not be able to rein it in. That they finally lose control is inevitable.
Member: okay I just went to the bank and got $100 bills and it says on the front Federal reserve note and then on the front of it has Fourth of July 1776….. never really paid attention but did the hundred-dollar bill always say Federal reserve note on it?
Member: How much time will we have to turn in dinar?
MZ: We don’t know for certain. But I have heard 30-90 days.
Member: There's supposed to be a Trump EO somewhere saying no tax on exchanges... Anyone???
Member: From Mark a few months ago- this from the US state Dept, on Iraq: Go to section 6 Financial Sector: The last sentence says “There are no taxes or subsidies on purchases or sales of foreign exchange.” https://www.state.gov/reports/2022-investment-climate-statements/iraq/
Member: I cast my line in the water several years ago and I haven't been able to pull that big RV fish in the boat. It is exciting to know it is close to the side of the boat. I will win this fight !!!!!!
Member: Energy follows thought. Be conscious of your thought and words. Be grateful for the RV. It is here! Blessings to all.
Member: Thanks Mark and Andy. Everyone enjoy the rest of your day.
Andy Schectman joins the stream today. Please listen to the replay for his thoughts and information.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
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Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM
“I have got some incredible news for you – the greatest transfer of wealth is about to commence. It is no rumor. I know it has been hard for all of you, but we are finally close to reaching the last hurdle. Get ready!!! I will soon be releasing the opera for you guys!!!
For the people who say the ZIM is not good – if you want to throw away your currency, it is your currency, but please do not bring that negativity into the rooms, as it lowers morale. The people who throw this away will regret it for the rest of their lives.
Zimbabwe is now a gold backed currency and that is what we were waiting for. It is the trigger to get it done. Zimbabwe is protected by the USA. It has tons and tons of gold. This is what was needed and what we have waited on for so long.
This is the information that came through last night from many sources. We have been waiting for this for many years. Many countries will now be gold backed. This was the trigger we were waiting for!!!
We will get paid this month, and I will actually take a risk, even though one should never guarantee things, as guarantee is a risky word, but this time, I am so sure it will happen!
MarkZ said the 15th.
I think this week will be a good week for the bonds, but for the currency, I am looking at the 15th of April.
Regardless we are not far from Mon. 15th of April.
Finally, now we can rejoice that this is happening – the greatest transfer of wealth the world has ever known. God bless you and remain faithful. Love you guys, Wolverine
“There are a lot of rumors that banks have the new US gold-backed Currency Notes in their bank vaults ready for the GCR….On Mon. 8 April
Zimbabwe introduced their new gold-backed currency, the ZIG Notes to the World…I have more confirmations of Bond Holder appointments and there were some big deals made with Bond Holdersover this last weekend.
…Of course Zimbabwe is going gold backed. Russia has the gold backed ruble, China internationally has a gold backed–oil Yuan. I think we will see more countries do the same thing. Denmark is actively looking at doing the same…..It is coming.”
Bank story two I go into the bank today to a teller who I talked to about three months ago who was brand new and she spilled her guts. The first couple days that she started.
Asking me what currency I had and everything and I said yeah I had Currency… He says oh you’re gonna be one of our new millionaires, and I said I also had Zim she’s in said oh you’re gonna be one of our new billionaires and I went on with that
Today when I talked to her was talking about the new Currency coming out soon and she said yes….. and I said we should be exchanging it soon and then she said it was the next week….. look forward to seeing you next week exciting times coming.
I asked her if she had been trained on the new system QSF and she said yes and I said I told you you were gonna be trained on it . She laughed and said I know I just didn’t believe you until now.
Keep the faith everyone. This should give you some great encouragement!
Holly: I wanted to share two bank stories from a friend of mine in my room:
;
First bank story, I have been banking at a chase bank here in the Bay Area northern California for 20 years.
When I first started there there was a new clerk, just starting out as a teller….. over the years. I watch him go from teller to accounts of accounts all the way up to manager of the bank……, in the last two years, he has been promoted to be in charge of six banks in the area.
I don’t see him as often as I like to but a few years ago I talk to him about what’s going on…. he didn’t know much about it, but said he’d look into it and we talk later….
I’ve seen him a few times over the years, but they’re able to talk just waving each other as we go by….. two weeks ago I got to talk to him, walked in his office, closed his door and we start talking about things…. as time went on. I start talking to him about the exchange his eyes got real big and asked me about it.
I said yes if I had Currency I said yes and then he asked me if I had Zim I said yes and he goes. Oh OK you’ll be going to special place.
I said OK….
he said when that was over come back here and we’ll talk and I’ll help you out and take care of you, I was really excited about it.
