Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Zimbabwe proposes introduction of gold-backed Zim dollar

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Reuters
Tuesday, August 25, 2009

Zimbabwe’s central bank governor Gideon Gono on Thursday proposed the introduction of a gold-backed local currency, which was destroyed by hyperinflation and replaced by multiple foreign currencies in January.

A unity government formed by rivals President Robert Mugabe and Prime Minister Morgan Tsvangirai in a bid to end a political crisis introduced multiple foreign currencies to stop sky-rocketing inflation and revive the economy.

But Gono, a Mugabe ally whose reappointment last year has been opposed by Tsvangirai, says the shortage of foreign currencies in the country was hurting economic recovery efforts.

In an article he wrote in the state-controlled Herald newspaper, Gono urged the re-introduction of the Zimbabwe dollar to ease the liquidity crunch, but said this was not a call for “a blind return to the money printing press”.

Full article here

Zimbabwe proposes introduction of gold backed Zim dollar  150709banner2

This article was posted: Tuesday, August 25, 2009 at 3:26 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
NSA Uses Secret Search Engine to Look Up Your Info See the rest on the Alex Jones YouTube channel.

MSM Buries CDC Scientist’s Confession About Vaccines & Autism Link See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.