The Nilar Gold Currency, the key to African development

Gesara.news » News » The Nilar Gold Currency, the key to African development

Share via:

News Date: September 13, 2022

Fiat money damages African economies and lives.
A common African gold currency, a long-held vision that many Africans still hold, is a way to effectively achieve monetary and thus economic independence.
Why Nilar? The Nile is Africa's and the world's longest river.
Zimbabwe, an unstable and inflationary economy, has finally made the sound decision to introduce gold coins to solve the persistent problem of rampant inflation.
Also, a multipolar world is inevitable and may be approaching.
Africa should not remain underdeveloped and dominated in that world. The nilar is the key.
Author: Manuel Tacanho is founder of Afridom, a sound money based digital banking startup for Europe and Africa.
Source: mises.org

Dutch Central Bank Preparing for the Gold Standard

Update from November 18, 2023:
The Dutch Central Bank (DNB) disclosed in a recent interview that it has modified its gold reserves to bring them into line with those of other nations within and outside the eurozone.
Motivated by political factors, this policy seeks to maintain strength and balance in reserves in relation to GDP.
Additionally, DNB proposed that during a financial crisis, an increase in the price of gold might make it possible to utilize official gold reserves as a stabilizing mechanism to uphold or create a new gold standard.
News from November 3, 2022:
Dutch Central Bank discussing Gold Revaluation
The DUTCH government openly discussed canceling debt by revaluation of the Gold price.
The Governor of the Dutch Central Bank stated the gold revaluation account ensures the solvency of his central bank in an interview on television about prospective losses.
Sources: gainesvillecoins

BRICS common currency

Russian FM says BRICS group to consider common currency.
Russia, Brazil, India, China, and South Africa may soon consider creating their own currency within the framework of the BRICS, FM Lavrov hints possibility during a visit to Angola.
Source: aa.com

International banking alliance using Ripple

National Australia Bank (NAB) has signed agreements with two leading global financial institutions:
- Israel's Bank Leumi;
- The Canadian Imperial Bank of Commerce (CIBC);
- to form an international banking innovation alliance.
It is partnering with the alliance using Ripple's blockchain network technology.
NAB is one of Australia's major 4 banks and forms an international bank innovation network.
Source: news.nab.com.au

Trump is meeting with an ex-bank CEO

Donald Trump is meeting with an ex-bank CEO who wants to abolish the Federal Reserve and return to the gold standard. Trump met with John Allison, the former CEO of the bank BB&T and of the libertarian think tank the Cato Institute.
Source:Businessinsider.com

Central banks are buying gold

Central banks are buying gold to protect against the threat of a sovereign debt crisis.
Last week the World Gold Council noted that central banks bought 59 tonnes of gold in June.
For the first half of this year, central banks purchased 270 tonnes of gold.
The WGC noted that central banks bought 180 tonnes of gold in the second quarter.
Sources: kitco.com