Friday, May 20, 2011

Towards a gold backed currency

Zimbabwe may sell diamonds to launch gold-backed currency

"Zimbabwe may sell diamonds for gold, so that it can have a gold-backed currency, according to a recent proposal from the governor of Zimbabwe’s central bank". "But the central bank of Zimbabwe—Reserve Bank of Zimbabwe (RBZ)—believes that the US dollar is no longer stable". "The events of the 2008 Global Financial Crisis demand a new approach to self reliance and a stable mineral-backed currency and to me, Gold has proven over the years that it is a stable and most desired precious metal,” the RBZ Chief was quoted by newzimbabwe.com as saying". Maybe one for the MPC to consider?

Posted by alan @ 10:09 PM (1331 views)
Please complete the required fields.



One thought on “Towards a gold backed currency

  • I think Paul Simon knows why.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>