My thoughts on Zimbabwe’s New GOLD COINS
Inflation is back again in the Republic of Zimbabwe but this time the government has vowed to help people preserve their wealth. In the latest offering, monetary authorities at Zimbabwe’s Central Bank, the Reserve Bank of Zimbabwe together with the authorities at Zimbabwe’s Ministry of Finance and Economic Development have announced that they will soon avail gold coins which citizens can buy and use as a way to preserve their wealth. Here are my thoughts on the matter, let me know what you think. +++++ Here’s the notice from the authorities: https://www.rbz.co.zw/documents/press/2022/June/Press-Statement—Introduction-of-Gold-Coins.pdf +++++ 00:00 Intro 01:03 My case for Gold 02:05 My case against Gold 02:11 This seems like an inflation hedge for the rich and not for the masses 03:41 Gold will not pay you dividends 04:37 I have trust issues with the coin issuers 05:25 The coins might eventually meet the same fate that Old Mutual shares faced 07:21 Will these coins be actually available for sale in ZWL at the interbank rate? 09:46 Yeah, robberies of these coins are a possibility 11:13 Can the state forcefully acquire back these coins? 13:17 Outro +++++ And if you love my content; don’t forget to SUBSCRIBE and SHARE with your friends! Want to follow my not so good social media handles? Twitter: https://twitter.com/maroofafrica Facebook: https://www.facebook.com/maroofafrica/ Prefer email instead? Then shoot me something on [email protected] I appreciate you! Maro +++++ Maro does not offer investment advice and Maro is not a registered investment advisor. The information provided is from Maro’s experiences which may differ from the experiences of other investors or other people. Past performance is not indicative of future results.
I am enjoying your passion and very diverse views on this topic. Please note: This is not a video about gold as an asset class but about gold coins that are being issued by monetary authorities and about options that Zimbabwean investors have
@eBaab What a ridiculous response. Who’s gonna know what you have in your home, do people have x-ray vision. No logic to your comment.
@D33Lux you can take this up with any African, but your wealth and assets will be common knowledge in the local criminal community. I do have first hand experience of this.
The gold isn’t going to be held at home it’s going to be a digital wallet obviously while the bank will hold the actual deposit of the gold an by the way the usd is backed by nothing that’s why the implementation of B.R.I.C.S is going to make it even more important to have a gold standard and reserve
I don’t remember there being a mentioning of digital wallets
@eBaab yes, we don’t trust zim gvt, and for good historical reasons, but we could, as a community, use gold or silver coins, irrespective of the gvt. We often forget that the gvt is supposed to work for us, and that we are responsible for who gets elected, or who we let elect themselves via fraud (if that is the case). So, our money should be for the people by the people, as gvt is only one of the ways we chose to administer our business.
Can people outsider Zimbabwe buy the coin.????
they will have to physically come into Zim
Its a fraude as long as the dollar is involved
is it?
Should have known, a stock market bull:)
good or bad?
@Maro of Africa I can’t say since I don’t know the prospects for the Zimbabwean stock market… but no matter the country, gold is less risky than the stock market, especially these days
Well actually when you buy gold coins there are premiums. Right now you actually pay about $100 USD to 200 USD over spot when you buy a gold bullion coin. You will get at least spot back when you sell or you can even get your premiums back depending on where and how you sell it.
interesting, didn’t know that
Excellent presentation and you are correct, unfortunately the investment instruments are fluid and vary depending upon geopolitical movements
Thanks Steve
Some American “freedom” might be coming to Zimbabwe soon 😂
😂
All negative talk one wonder what’s his main goal or someone payed him
no one paid him unfortunately
Digital currency like XRP on your digital wallet and hedged by your gold coin total value stored in a vault is the way to go. 😁
interesting
Paper money will be WORTHLESS from one day to another.
And then you will be happy to have changed it to gold coins.
hope you will be right in future
Anorohwa neinflation makatemba masinhi aya😂. I’d rather have maus. cz vanhu vachabhadharwa or kutengeserwa macoins asipo😂
Achaita ma1 chaiwo
When Messiah coming, what money he will use?
GOLD IS THE BEST WAY TO SAVE YOUR MONEY. NEVER EVER KEEP OR SAVE YOUR MONEY IN ANY CURRENCY INCLUDING USDOLLARS.
THIS DUDE IS TALKING NONSENSE, INSTALLING FEAR IN THE MASSES. HIS RISK ASSESSMENT IS VOID