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Zimbabwe introduces a new gold-backed digital currency

Gesara.news » » Zimbabwe introduces a new gold-backed digital currency

Date: October 9, 2023

Zimbabwe has unveiled a groundbreaking digital currency called 'Zimbabwe Gold' (ZiG), backed by gold in milligrams.
This move is part of the country's de-dollarization strategy and efforts to combat inflation.
The Reserve Bank of Zimbabwe (RBZ) is offering ZiG for both individuals and corporations, providing a stable and versatile means of transacting.
By linking the digital currency to gold, Zimbabwe aims to restore confidence in its monetary system and attract investment, potentially setting an example for other nations facing similar economic challenges.
ZiG represents a significant step towards financial stability and innovation in Zimbabwe.

House Republicans unveil budget with trillions in cuts

February 25, 2025:
The House Republican spending bill has passed.
The U.S. House advanced President Trump's tax cuts agenda on Tuesday, giving a major boost to his 2025 policy goals.
February 19, 2025:
President Donald Trump speaks at FII Institute's Priority Summit in Miami.
He plans to work with Republicans in Congress to 'dramatically' cut taxes.
'We're going to dramatically cut taxes for families and for workers and for companies, including no tax on tips, and hopefully, no tax on Social Security and no tax on overtime,' he said.
February 12, 2025:
House Republicans release budget plan, with trillions in tax and spending cuts.
House Republicans unveiled budget to advance Trump's agenda on border security, defense, energy, and taxes amid Senate competition.
January 26, 2025:
President Trump announced in Las Vegas that his legislative package with Republicans will include a pledge to eliminate taxes on tips.
Trump also suggested a no-tax policy at the Las Vegas rally: 'How about just no tax?'
November 30, 2024:
Republicans, holding control of the House, Senate, and White House, are planning an ambitious 100-day agenda focused on key priorities, starting with tax cuts.
Older news:
In 2025, Republicans' consolidated power in Washington positions President-elect Donald Trump to implement an ambitious agenda.
Key priorities include extending the 2017 tax cuts, funding the U.S.-Mexico border wall, reclaiming unused Democratic-allocated funds, and cutting government oversight by eliminating the Department of Education and curbing the powers of agencies like the Consumer Financial Protection Bureau.
These measures aim to stimulate economic growth, boost job creation, and tighten immigration control while addressing the challenge of managing the $35 trillion national debt.

Experimental Tesla Tower in Texas confirmed

Viziv Technologies has really built an experimental Tesla Tower in Texas to distribute wireless energy long distances, one hundred years after Nikola Tesla's Wardenclyffe Tower has abandoned.
Also, Elon Musk Moved to Texas: Tesla CEO is a Texan Now.
He has confirmed his residential move to Texas as of December 8th.
The exact region of Texas has not been identified.
Source: youtube.com

Trump:The biggest thing that nobody knows about on January 1st

Many are speculating that on January 1st, Donald Trump will be having the U.S to return to the gold standard, something he is publicly supported for many years.
"This is going to be the biggest thing that nobody even knows about, and it is all signed."
Sources:twitter.com

Zimbabwe launched the gold-backed currency

Zimbabwe has decided to replace its struggling local currency with a new one backed by gold and foreign currencies in an effort to stabilize its economy and combat inflation.
The country reintroduced its own currency in 2019 after a period of dollarization, but it failed to gain public trust, with over 80% of transactions now conducted in foreign currency.
The new currency, named Zimbabwe Gold (ZiG), will circulate alongside other foreign currencies.
The exchange rate for ZiG will be determined by the closing interbank exchange rate on April 5 and the London PM Fix price of gold on April 4.
The Reserve Bank of Zimbabwe described the new currency as "structured," backed by a combination of foreign currency and precious metals, primarily gold, held as reserves by the central bank.
"If we implement these measures, we expect them to have an impact on inflation," central bank governor John Mushayavanhu told reporters.

China will forgive 23 loans for 17 African nations

China has pledged to forgive 23 interest-free loans for 17 African countries and will also provide food assistance to the struggling nations, China's foreign minister Wang Yi said at the Forum on China-Africa Cooperation.
Mr. Wang also announced to increase imports from Africa, support the greater development of Africa's agricultural and manufacturing sectors, and expand cooperation in emerging industries.
Sources: news.com.au

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