TL;DR, Zimbabwe’s Zig Currency is backed by $100 million cash and 2.52 tonnes of gold worth $185 million, replacing a dollar that declined 70% this year. Â Interest rates dropped from 130% to 20% as Zimbabwe Stock Exchange and national payment systems quickly adopted the new gold-backed currency. Public skepticism remains high due to past monetary…
TL:DR, Zimbabwe’s ZiG currency launches as physical gold-backed money, with 2.6 tonnes gold reserves backing 1.1 billion ZiG units, replacing previous digital token plans in April Zimbabwe abandoned its digital currency ambitions, converting gold-backed digital tokens into physical ZiG notes and coins valued at international gold prices. One ZiG is equivalent to 1 mg of gold, with…
TL:DR, BRICS expansion adds six nations, strengthening the bloc’s de-dollarization strategy and establishing control over 30% of the global economy. Six countries join BRICS alliance, complementing efforts to create financial alternatives through local currency lending and the New Development Bank. NDB announced plans to begin lending in South African rand and Brazilian Real to defy…
