Zimbabwe to back its currency with gold
Date: February 12, 2024
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.
Source: GESARA News
https://dinarchronicles.com/2024/02/13/zimbabwe-announces-measures-to-back-its-currency-with-gold/
Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY: A guy comes on TV and he talks to us about how the end of the Untied Nations mission official has removed all sanctions from Iraq…
Fnu Lnu Some opine that there is no such thing as a Redemption Center while others claim to be in contact with such Centers and their personnel. What they (redemption centers) are, is a simple solution to a simple problem. Many of the large banks in heavily populated urban centers were concerned about having the Dinar traffic clog their lobbies at exchange time. The solution is to have a separate, off-premises, specialized, Exchange Center, complete with Delaru computer, in the most populated city in each of the 10 federal regions…I haven’t been informed of any changes.
*************
KTFA:
Clare: With a value of 500 billion dollars.. Iraq offers new investment opportunities to stimulate the economy in the country
2/13/2024
The investment graph in Iraq has recently increased to reach $300 billion thanks to new legal amendments aimed at expanding the roles of productive sectors in accordance with the national development plan extending from the year 2024 to the year 2028 for the purpose of reducing dependence on oil revenues to support the country’s general financial budget.
The investment law in Iraq offers some advantages, the most prominent of which is that the investor owns government real estate as well as leasing the project lands for 50 years, with tax and customs exemptions and the freedom to transfer money in addition to the possibility of trading in the Iraqi stock market. LINK
************
Clare: Germany allocates $21.5 million to support small and medium-sized companies in Iraq
2/13/2024
On Tuesday, the German government allocated $21.5 million to support small and medium-sized companies in Iraq.
A statement by the International Labor Organization in Iraq, received by Shafaq News Agency, stated that “Germany will support the organization with an amount of 21.5 million US dollars through the German Development Bank to enhance the development of the private sector, especially small and medium-sized companies in Iraq.”
The statement quoted Chargé d’Affaires Maximilian Rasch as saying, “Bank guarantees for small and medium-sized companies are the cornerstone of every economy.” LINK
Decoding the Banking Sector Plunge – “I’ve Been Warning About THIS For a YEAR, Well Here It Is”
Mike Maloney: 2-13-2024
In an essential discussion, Mike and Alan dissect the troubling developments within the banking industry, honing in on New York Community Bank’s drastic stock price fall and the controversies swirling around it.
Mike clarifies his seemingly late reaction to the crisis, revealing he has been sounding the alarm about a looming financial catastrophe for over a year, albeit without pointing fingers directly at New York Community Bank.
The duo draws parallels with historical financial upheavals, notably the 2008 crisis and the nationalization of Fannie Mae and Freddie Mac, to underline the potential global fallout.
They showcase a chart linking GDP growth with federal debt, highlighting a disturbing trend that began in 2008.
This discussion is a must-watch for anyone concerned about the future of the banking sector and the broader economy.
