US High School Economics class: Zimbabwe launches ‘gold-backed’ currency to replace collapsing dollar
==========
Zimbabwe has launched a new 'gold-backed' currency to replace the collapsing dollar. This is the latest currency introduction in Zimbabwe, which has had multiple currencies in the last decade. The new currency is backed by gold in an attempt to restore confidence in the country's monetary system. Zimbabweans prefer 'mattress banking' over traditional banking due to a lack of trust in the banking system. The hyperinflation experienced in 2008 has had a lasting impact on government officials and citizens, influencing their decisions today.
#Zimbabwe #Currency #Goldbacked #Dollar #MonetarySystem #Banking #Hyperinflation
https://www.ft.com/content/b650ea2d-f26f-4b33-9340-090c514ac81c
Financial Times /
npub1ey5…tq7p
2024-04-13 21:28:47
Author Public Key
npub1ey55s7y4px7nuw9qq987mhc2lm8qp30xvyrkgqk9p626n78zfcxqw0tq7pPublished at
2024-04-13 21:28:47Event JSON
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"content": "US High School Economics class: Zimbabwe launches ‘gold-backed’ currency to replace collapsing dollar\n==========\n\nZimbabwe has launched a new 'gold-backed' currency to replace the collapsing dollar. This is the latest currency introduction in Zimbabwe, which has had multiple currencies in the last decade. The new currency is backed by gold in an attempt to restore confidence in the country's monetary system. Zimbabweans prefer 'mattress banking' over traditional banking due to a lack of trust in the banking system. The hyperinflation experienced in 2008 has had a lasting impact on government officials and citizens, influencing their decisions today.\n\n#Zimbabwe #Currency #Goldbacked #Dollar #MonetarySystem #Banking #Hyperinflation\n\nhttps://www.ft.com/content/b650ea2d-f26f-4b33-9340-090c514ac81c",
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