Zimbabwe’s Central Bank To Issue Gold-backed Digital Currency: Report
April 27, 2023
No Comments
According to a report, the Reserve Bank of Zimbabwe is planning to issue a gold-backed digital currency.
According to a report, the Reserve Bank of Zimbabwe is planning to issue a gold-backed digital currency.
With the national debt of the world’s reserve currency soon expected to exceed $32 trillion, some are predicting a potential $20 trillion dollar global financial collapse.
The animation from Visual Capitalist’s Jan Varsava visualises the S&P 500 in 2023. So far, Nvidia shares have gained the most of all the companies on the S&P 500 in Q1 2023.
In a tweet reply, Anand Mahindra hinted at the possibility of Mahindra allowing the purchase of automobiles with Bitcoin in India in the future.
The head of Sonali Bank Limited, Md. Afzal Karim, stated that “Bilateral trade with India in taka and INR will reduce pressure on the US dollar.” As Bangladesh dumps US currency and becomes the 19th country to trade with India with rupees, both nations stand to gain from this.
The graphics below show the timeline of de-dollarization and the countries seeking alternatives to the US dollar.
TerraPay, a London-based mobile payments provider, has revealed that India was the top recipient of money from overseas in 2022 with $100 billion.
Speaking at the Innovate Finance Global Summit on Monday, Sir Jon, the deputy governor of the Bank of England, said that “you won’t be able to spend physical cash in the near future.”
If the dollar falls, it will be catastrophic for the American people on whose backs 80 years of reserve status were built. It will also subject billions of foreigners, for whom the dollar has meant decades of being bullied, to history’s greatest bait and switch.
