Zimbabwe to back its currency with gold

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News Date: February 12, 2024

Update: The IMF urged Zimbabwe to expedite currency reforms during a recent staff visit, emphasizing a move towards a market-driven exchange rate and the removal of existing distortions.
Zimbabwe's Finance Minister announced new measures to stabilize its local currency in an online press briefing held Monday.
Zimbabwe to back its currency with hard assets such as gold to end exchange-rate instability, Finance Minister Mthuli Ncube said.
"The idea going forward is to make sure that we manage the growth of liquidity which has a high correlation to money supply growth and inflation.
The way to do that is to link the exchange rate to some hard asset such as gold," said Ncube.
He also announced a conference of African ministers that Zimbabwe will host at the end of this month.

Cuba considers joining the BRICS

Cuba's Ambassador to Russia considers the possibility of joining the BRICS.
Julio Antonio Garmendia Pena, Ambassador Extraordinary and Plenipotentiary of the Republic of Cuba to the Russian Federation, spoke about the possibility of joining BRICS.
'Cuba maintains trade relations with the countries of the association, stressing the importance of cooperation with Russia and China in various sectors of the economy. The trend towards expansion of the alliance offers the hope of achieving a multipolar world', the ambassador said.
Russia's Mir banking cards could start being used in Cuba by the end of the year, the ambassador said.
Sources: tvbrics.com

Gold rush. Welcome to the era of gold!

Gold, silver coin demand surging, straining U.S. Mint capacity.
The US Mint is limiting the distribution of its gold, silver, and platinum coins to specific dealers because of heavy demand, and a limited number of suppliers of metals.
Unprecedented silver demand forcing bullion deals to stop taking orders before the market opens.
After creating massive short-squeezes in stocks like Gamestop, Blackberry, and AMC, retail investors mobilized over social media started to focus on the silver market.
Sources: www.reuters.com, www.kitco.com

Speeding up the BRICS - SCO payment system

A new, "cutting-edge" payment system for the currencies of the Shanghai Cooperation Organization (SCO) and BRICS countries should be established as soon as possible, according to the chairman of Russia's National Economic Development Organization VEB.RF, Igor Shuvalov.
In his remarks at a Russian-Chinese Business Forum on Tuesday in Shanghai, Shuvalov emphasized the need for Russia and China to hasten the development of an effective payment system.
"We urge the government of the Russian Federation and our Chinese partners to act as actively as possible.
An independent and efficient infrastructure of payments is necessary not only for ensuring the "ruble/yuan" pair but also for carrying out the most serious transactions in SCO and BRICS currencies," said Shuvalov.

Tesla BioHealing Beds

All living organisms have molecular cells have their own power plants that produce energy throughout its life called a nucleus. Every cell in every living organism holds the energy that it produces. As our bodies age these cells begin to lose their abilities to produce the same amount of power and many will begin to die. But what if you could recharge the power plants of your cells and give them new life to continue powering and repairing your body?
Sources:www.youtube.com, www.teslabiohealing.com

Silver Dollar Coin Anniversary Act signed into law

On January 5, 2021, Donald Trump signed into law H.R. 6192, the "1921 Silver Dollar Coin Anniversary Act," which requires the Department of the Treasury to mint and issue coins in honor of the 100th anniversary of the completion of coinage of the Morgan dollar and the 100th anniversary of the commencement of coinage of the Peace dollar.
The Act does not call out any mintage limits, only that the coin is authorized to be sold in 2021 and that the coins will have the exact same designs of the 1921 Morgan and 1921 Peace dollar coins.
$1 Silver Coins. The Secretary of the Treasury shall mint and issue $1 coins, each of which shall:
(1) weigh 26.73 grams;
(2) have a diameter of 1.500 inches;
(3) contain not less than 90 percent silver;
(4) have a reeded edge.
Sources www.congress.gov