Zig Looking Good !?!
Zig is something I have blogged about in the past when it was first introduced and I believe @buggedout has mentioned it a couple of times.
In case you haven't heard of it before, it's a new gold backed currency that was introduced in Zimbabwe a couple months ago in an effort to uplift their economy from the shitter and combat the raging inflation.
The Zimbabwe Gold (ZiG; code: ZWG) has been the official currency of Zimbabwe since 8 April 2024, backed by US$575 million worth of hard assets: foreign currencies, gold, and other precious metals. It replaced the Zimbabwean dollar, which suffered from rapid depreciation, with the official exchange rate surpassing 30,000 Zimbabwean dollars per U.S. dollar on 5 April 2024, whilst the parallel market rate reached 40,000 per U.S. dollar. Annual inflation in Zimbabwe hit 55.3% in March 2024.Wikipedia
Fast forward a week ago and the IMF published a positive report about it and its impact on the country's stability.
The main key points of the report were:
- It has helped stabilize the Zimbabwean economy after a period of instability earlier this year.
- Inflation is expected to be around 7% for the rest of the year, significantly improved compared to the numbers experienced by previous Zimbabwean dollar.
- Economic growth is projected to slow down to 2% in 2024 due to drought but is expected to rebound to 6% in 2025.
Tldr, a positive and mildly optimistic report with the IMF emphasizing the need for continued discipline and policy improvements.
You can read more on the story on Bloomberg. Here's a no-paywall link
I guess the zig experiment been successful? Dunno it's probably too early to be definitive. But they probably are better, or less worse, with zig than the old toilet paper they had for currency 😂
Now all I need is a few countries adopting the silver standard and I can retire early in my silver stack 🤫😂
Posted Using InLeo Alpha
!hiqvote
!DOOK !hiqvote
You just got DOOKed!
@bitcoinman thinks your content is the shit.
They have 17/400 DOOK left to drop today.
Learn all about this shit in the toilet paper! 💩
!hiqvote
@trumpman, the HiQ Smart Bot has recognized your request (1/3) and will start the voting trail.
In addition, @bitcoinman gets !PIZZA from @hiq.redaktion.
For further questions, check out https://hiq-hive.com or join our Discord. And don't forget to vote HiQs fucking Witness! 😻
@bitcoinman, the HiQ Smart Bot has recognized your request (2/3) and will start the voting trail.
In addition, @trumpman gets !PIZZA from @hiq.redaktion.
For further questions, check out https://hiq-hive.com or join our Discord. And don't forget to vote HiQs fucking Witness! 😻
Very interesting. Especially the comments from the IMF. No surprise they'd be keen on anything austerity related but endorsing sound money is another thing altogether...
Funny how having gold back up a currency makes it worth more than toilet paper?
!LOL
!DOOK
You just got DOOKed!
@thebighigg thinks your content is the shit.
They have 4/400 DOOK left to drop today.
Learn all about this shit in the toilet paper! 💩
lolztoken.com
He was shaken, not stirred.
Credit: reddit
@trumpman, I sent you an $LOLZ on behalf of thebighigg
(7/10)
Farm LOLZ tokens when you Delegate Hive or Hive Tokens.
Click to delegate: 10 - 20 - 50 - 100 HP
In communist countries, the banknotes stated that they were backed by the labour of the people. But in practice it didn't matter what it said. Nobody believed it anyway.
I don't think anyone will believe in a solid currency in Zimbabwe either.
What do you think? !LOL
lolztoken.com
I don't bereave it!
Credit: reddit
@trumpman, I sent you an $LOLZ on behalf of silversaver888
(1/10)
Delegate Hive Tokens to Farm $LOLZ and earn 110% Rewards. Learn more.
Ha! I fucking love it 😂😂😂
💪👍😍 Yay!
!dook
You just got DOOKed!
@trumpman thinks your content is the shit.
They have 1/400 DOOK left to drop today.
Learn all about this shit in the toilet paper! 💩
Notice the "same" Face Values on their Notes that will be on U.S. Gold Coins...
All I see is a rock sir
Perhaps we can start using Rocks as our New Monetary Tools... We just put Numbers on them...
It’s too early to tell, we need a3-5 year sample to look at before determining it success.
You need more German silver first…..🤣
!pimp
You must be killin' it out here!
@silverd510 just slapped you with 1.000 PIMP, @trumpman.
You earned 1.000 PIMP for the strong hand.
They're getting a workout and slapped 1/3 possible people today.
Read about some PIMP Shit or Look for the PIMP District
Stop being a negative Nancy
That’s me
!pimp
View more
Have no idea about Zig as my knowledge is really limited when it comes to financial stuff but those banknotes look lovely! I really enjoy seeing so much colour on things we pay with!
They are kinda cute that's true lol
It's great to see a country get their financial situation bettered after being completely destroyed.
Should try to exchange them no longer in circulation high inflation notes for gold 🤣 !DOOK !PIMP !LOL
Aw man @bitcoinman, you are out of PIMP to slap people.
Go Stake some more and increase your PIMP power.
(We will not send this error message for 24 hours).
Read about some PIMP Shit or Look for the PIMP District
You just got DOOKed!
@bitcoinman thinks your content is the shit.
They have 16/400 DOOK left to drop today.
Learn all about this shit in the toilet paper! 💩
lolztoken.com
Cantaloupe...
Credit: reddit
@trumpman, I sent you an $LOLZ on behalf of bitcoinman
(2/10)
Farm LOLZ tokens when you Delegate Hive or Hive Tokens.
Click to delegate: 10 - 20 - 50 - 100 HP
!pimp
You must be killin' it out here!
@trumpman just slapped you with 5.000 PIMP, @bitcoinman.
You earned 5.000 PIMP for the strong hand.
They're getting a workout and slapped 2/3 possible people today.
Read about some PIMP Shit or Look for the PIMP District
Hmmm
So the currency change can help a country.
My country did theirs some years back.
Was a very stupidly funny joke😂😭
😅😂
Well, I think it's better that it's back by something. It does reassure people and that helps the currency get back on track.
Until they storm the vaults and steal the gold.
Can happen with anything so a moot point
Is there a currency backed by tacos?
!PIMP
You must be killin' it out here!
@summertooth just slapped you with 20.000 PIMP, @trumpman.
You earned 20.000 PIMP for the strong hand.
They're getting a workout and slapped 4/4 possible people today.
Read about some PIMP Shit or Look for the PIMP District
Your poop?
this is a wise step from the Zimbabwe government 👍
So far it's going well apparently
@trumpman, the HiQ Smart Bot has recognized your request (1/3) and will start the voting trail.
In addition, @trumpman gets !WEED from @hiq.redaktion.
For further questions, check out https://hiq-hive.com or join our Discord. And don't forget to vote HiQs fucking Witness! 😻
You received an upvote of 94% from Precious the Silver Mermaid!
Thank you for contributing more great content to the #SilverGoldStackers tag.
You have created a Precious Gem!
It's pretty cool Zimbabwe's trying out a gold-backed currency. The IMF's report looks promising, but let's see how it holds up long-term.
Congratulations @trumpman! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next target is to reach 590000 upvotes.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out our last posts:
$PIZZA slices delivered:
@hiq.smartbot(5/5) tipped @trumpman
I trust you thats nice