We need a gold standard to live in prosperity!

@charleshinton8565

27 күн бұрын

How does that work? Be specific! What’s the tax rate ?50 percent Now study the Long Depression and Great Depression.

Wow! I had no idea that Switzerland was on a gold standard for so long until 1999!

@comebackcity1796

26 күн бұрын

Switzerland abandoned the gold standard in 1973 when it transitioned to a floating exchange rate system. This move was a response to the collapse of the Bretton Woods system and the subsequent loss of exchange rate stability. So, no, 1999 was not when they unpegged the fiat Swiss Franc; it was 1973. In 1999, Switzerland began the process of demonetizing gold and transforming a portion of its gold reserves into interest-bearing assets. This process was initiated by the Economic Committee of the National Council in February 1997 and gained public awareness in May 1997 when the President of the Confederation proposed allocating a part of the revaluation gain on gold to fund a Swiss Foundation for Solidarity. The Swiss National Bank (SNB) decided to donate 500 tonnes of gold to the foundation, marking the beginning of the demonetization of gold and its transformation into interest-bearing assets.

Well...Zimbabwe still has more Gold than Canada...

@meteoman7958

12 күн бұрын

Tell that to the Royal Canadian Mint.

Thanks for the video, APMEX. Keep up the great work

The problem with your assertion, is basing golds value on the dollar and not the world's debt. Gold is and always will be true money.

@charleshinton8565

27 күн бұрын

That’s not really true. Gold was not a currency in China And silver was far more important. Charlemagne had the silver penny. That was 1000 years ago. It was the only full body coin in circulation for centuries in Europe. Silver was also the only current accepted in the east in exchange for pepper spices and silk. Now think to the opium war. Why? Silver. Silver currency all ended up in China to by tea starting in the 18th century. The west ran low on silver. So opium was forced upon the Chinese….. by war.

@well.thy.one.

14 күн бұрын

@@charleshinton8565silver is true money as well. Both are. Really any commodity could be considered such, its just that so few carry the properties to actually serve this role well.

@victoria19853

14 күн бұрын

@@charleshinton8565Read the Bible and get to know who God is. Gold and silver has been used in the Bible before China even existed.

I lived in Zimbabwe from 2001-2003. The govt had been trying to meddle with their economic system and force the markets to do specific things. This only created more disaster. Any time the corrupt government there tries to control or fix the monetary system it’s resulted in failure beyond the level they had already experienced. I very much doubt the govt there to ethically enact and abide by anything.

@kittenluvzu

11 күн бұрын

Your comment hits pretty close to home in the US as well. But we've also got a lying media to sweep our own rampant inflation under the rug. Most Dems don't understand why a burger costs $20 these days but accept it as normal. Of course, this also has a lot to do with an ever-increasing minimum wage in jobs that were never supposed to support a livable wage, but when you've got stupid and ignorant mixed together, the result is the same.

Some currencies are backed by a nation’s gold, oil, natural resources or an army.

Love the info this channel puts out.

Switzerland abandoned the gold standard in 1973 when it transitioned to a floating exchange rate system. This move was a response to the collapse of the Bretton Woods system and the subsequent loss of exchange rate stability. So, no, 1999 was not when they unpegged the fiat Swiss Franc; it was 1973. In 1999, Switzerland began the process of demonetizing gold and transforming a portion of its gold reserves into interest-bearing assets. This process was initiated by the Economic Committee of the National Council in February 1997 and gained public awareness in May 1997 when the President of the Confederation proposed allocating a part of the revaluation gain on gold to fund a Swiss Foundation for Solidarity. The Swiss National Bank (SNB) decided to donate 500 tonnes of gold to the foundation, marking the beginning of the demonetization of gold and its transformation into interest-bearing assets.

@kittenluvzu

11 күн бұрын

I'd take some of that gold.

Fabulous analysis! There were a lot of people in America buying up the old Zimbabwe currencies, so would these maintain any value should the Zig fail?

Yes ❤I agree with BRICS and especially African nations should be backed with gold as we have the richest continent in the world 🌍 of natural resources on the Africa continent. Keep up the good work Zimbabwe 🇿🇼 which is Gold backed 🏆

Sounds like there's a new set of banknotes (and coins) I'll need to collect now! This is definitely interesting news - I'll be watching the situation with a great deal of curiosity to see how this goes down.

If you can't trade their notes for specie at a teller window at a set rate, then it is NOT gold backed.

The billionaires are and have taken their money out of the banks, and cashed in their stock options!

How do you maintain a stable link to gold without loosing export competitiveness to countries with inflation and weaker currencies? What happens in war? Do you suspend gold payment? What happens if a trade surplus becomes a deficit? Does the link to gold ever get adjusted? What happens when people start to suspect a gold linked currency can no longer maintain the link. Run

Good question ⁉️

If the economic anaylists looking at Japan's ficticous "economic collapse" has taught me anything, it's that world governments and economists are too terrified of deflation to actually do anything about it let alone go back to the gold standard. They simply don't understand basic economics and they'd sooner let the economy return to barter believing that "moderate inflation is a good thing". Even if Zimbabwe succeeds I doubt it will cause kansian economists to change their stance on deflation.

@charleshinton8565

27 күн бұрын

Rotfl It’s not economics. It’s human nature driven by fear and greed. Hoarding is the gold standards worst enemy. Hoarding is a result of fear of the future. Expectations! Inflation expectations Deflationary expectations. Inflation is easy to beat. Stop printing money, raise taxes to take money out of circulation. Deflation has no easy answer. It’s all in the mind.

YELLOW GOLD!!! @o@

I hope for the sake of the people of Zimbabwe that this is not a fools errand, I can't help but feel a non-trivial amount of doubt here. Even if this isn't some kind of long con, anyone who has an interest in economics and markets knows that poorly planned economic engineering is always vulnerable to vulture type financial engineering.

If they make gold into coins to try to pump the value of the 'currency' that is gold backed, how much Value does that currency actually hold as it devalues relative to something else like Silver?. If the real pressure is on Silver and not on gold, then which one actually has Value?

In a war do you stop fighting if you have no gold? No. You issue paper. That’s a big problem with the gold standard. Paper that is first backed…. Then not…..

The Constitution of US states that gold and silver are to be the only currency. Although we have always had copper pennies ( but not the zink junk)

Silver is the real money. Gold is pretty and plentiful and high priced relative to its overall utility. Silver is the real winner. Silver is still way underpriced.

1 cent per zim........ 😌 please

Zimbabwe formerly Rhodesia used to be called the breadbasket of Africa. They grew enough food to feed all of Africa and they were one of the most prosperous countries in Africa. Then they kicked out the white farmers and now they are one of the poorest countries and can't even feed themselves.

Cowboy i going all in fysiek gold and silver 👏👍👈

Operation Zimbabwe freedom incoming….

There is not enough gold to back a currency.

Didn't isis' califa also have only gold coins?

If you cant trade it directly for gold at a fixed ratio, NOT GOLD BACKED!!!!

Goldbacks will be the new money.

If it's not redeemable in gold then it's pointless, it's like me creating a "Ferrari backed currency" 1 = 1 Ferrari but never redeemable, any buyers?? I'll give you a good deal 10,000 "Ferrari's" for your house...I'll even write it on a napkin so you have a receipt...😂

The russian Ruble is already backed by gold...

If you are talking about Zimbabwe ?? Its a gimmick The currency IS NOT redeemable in Gold The problem is that the Govt will Overprint the currency As usual

I’ll take a wooden nickel first.

Digital Gold, crypto is the only reasonable solution.