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Zimbabwe To Trade Diamonds For Gold As It Prepares To Launch Gold-Backed Currency
A week ago we presented the idea floated by once hyperinflationary Zimbabwe, oddly jeered by most, that the country is seeking to move to a gold-backed currency, adding, somewhat surrealistically, that the "days of the US dollar as the world's reserve currency are numbered." And if anyone should know a hyperinflationary basket case, it's Zimbabwe. Well, today this bizarre story just went fuller retard, after the country announced that it may exchange diamonds for gold "so that it can have a gold-backed currency, according to a recent proposal from the governor of Zimbabwe’s central bank." Indeed we speculated previously why: "Zimbabwe, a country rich in natural resources, took so long to figure out that it was nothing but a puppet in the hands of western monetary interests." Well, others are now getting this idea - Commodity Online reports that "The country is a resource hub: It sits on gold reserves worth trillions. It has the world’s second largest reserves of platinum, has got alluvial diamonds that can fetch the nation $2 billion annually and even boasts of chrome and coal deposits." And since Zimbabwe is now fully on board this whole "pioneering" thing perhaps it should just go ahead and create the first diamond-platinum backed currency. Just don't give China and Russia ideas about floating a new reserve currency that actually has real commodity backing. What's that, you say? They are launching one soon? Oh well.
From Commodity Online:
The Zimbabwean dollar is no longer in active use after it was officially suspended by the government due to hyperinflation. The United States dollar, South African rand, Botswanan pula, Pound sterling, and Euro are now used instead. The US dollar has been adopted as the official currency for all government transactions with the new power-sharing regime, says Wikipedia.
But the central bank of Zimbabwe—Reserve Bank of Zimbabwe (RBZ)—believes that the US dollar is no longer stable.
According to Dr Gideon Gono, RBZ Chief, the inflationary effects of United States’ deficit financing of its budget may impact foreign countries and would lead to a resistance of the green back as a base currency; cited newzimbabwe.com.
Writing in a blog in New Zimbabwe, Gilbert Muponda, an entrepreneur based out of Zimbabwe has welcomed the proposal of a gold-backed Zimbabwean currency. He has applauded the proposal of the central bank governor to sell diamonds for gold.
On the other hand, for the country to move to some semblance of a gold standard, it may wish to consider shifting form a despotic dictatorship controlled by Robert Mugabe to something a little less "centrally planned."
The government’s protectionist measures have kept the mining companies at bay. The government wants the foreign miners to sell controlling stake in ventures to local blacks, which is obviously frowned up on by all. The companies, given the uncertain situation, have refrained from investing further in expansion activities in Zimbabwe.
The country cannot access foreign credit as the ZIDERA Act passed by the United States in 2001 blocks US entities from trading with certain Zimbabwean institutions and individuals This has forced the US representatives in lending agencies like World Bank, IMF, IFC, and ADB to take a favorable stance when it comes to Zimbabwean credit requests.
That said, where there's a will there's a way. And since this story refuses to go away, it probably means that Zimbabwe will definitely give it the old college try. Once again, the question is not what happens in Zimbabwe, but elsewhere, should the experiment prove to be even remotely successful.
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The problem is diamonds are not a Commodity, unless you just count it as refined carbon. Diamonds can be man made now.
You need an intelligent populace coupled with an intelligent government to create prosperity. Having a gold back currency isn't the "silver bullet"
In fact, Zimbabwe (once named Rhodesia) was run by white people at one point. Oddly, they had a thriving economy with agriculture and mining flourishing with productivity and efficiency. But than something happened suddenly....the blacks decided to throw the whites out and take over for themselves. After this event, the country fell into destitude and poverty once again, as their agriculture and mining fell into the toilet, and their economy collapsed.
What's really kinda odd about the whole thing is that same theme is reoccuring throughout the world. Just look at Detroit....how are they doing lately?
Your first sentance is an apt description of the United States. We lack both and goes a long way to explain our current situation.
What's happened to our populace over the last 10-20 years? It has become inundated by Haitians, Mexicans, and Africans. Our President is Kenyan...
Have you noticed the sharp decline in America since this started?
Don't forget immigration was a key issue that helped bring down the Roman Empire. Not the only thing, but it was a major issue. You can't have unity in an overly divided populace, it breeds distrust, contempt, and divisiveness.
(of course the crowd screaming rayceeess!!! will be out any minute)
God, guns, gays, immigration, race, sex, abortion, etc.. The tools that have been used to divide and conquer.
Right, their ability to run an economy is determined 100% by the color of their skin, rather than their policies.
Christ almighty, there's something wrong with you.
Also of note, the white rulers of Rhodesia used a currency that was pegged alternatively to the gold backed pound, or the gold backed US dollar.
Yes for the most part. And that is not something I came up with.
Just look for your fucking self. Africans have a far lower IQ on the average by far.
EVERYWHERE (not just here tmosely) EVERYWHERE in the world where there are lots of black people there are extremely high levels of:
-Murder
-Rape
-Sexually Transmitted diseases
-Robbery
-Poverty
It's not MY ideas tmosely....it is FACTS. If you have a problem with FACTS just say "bob_d, I have a problem grasping facts" and than I will explain it to you in more detail.
well,well, fortunately for them their run faster, jump longer, play all ball games better and are sweeter than sugar when you meet them in their own environment. I wonder why they go rancid when faced by the socio-economic glare of the "greatest nation on earth".
Lets laugh it off as its going to be sad to see this nation now sell its sons for a plate of lentils as inflation or deflation eats away into the collective economic marrow. As for IQ its like sex size...you pay your money to see and you pick your choice...like the idiot you be...
They do run faster, jump longer, etc etc...
Ever care to think why that is? Because they are fresh out of the jungle and are adapted to chasing down gazelle, and defending their tribes from ravenous hyenas. Their intellectual capacity hasn't evolved to the same degree as Europeans/Asians/Middle Easterners.
And no they are not sweeter than sugar. They are the most racist, violent, and impulsive ethnicity out there. Go look up the stats on violent crime, post them here, and tell me they are "sweeter than sugar" sweeter than sugar my ass.
Here, I'll do it for you:
"A United States Department of Justice report which surveyed homicide statistics between 1974 and 2004 stated that of the crimes surveyed, 52.2% of the offenders were Black"
52.2% and they are the MINORITY yet account for more than HALF of homicides.
http://en.wikipedia.org/wiki/Race_and_crime_in_the_United_States
You don't read what I write. These are US statistics. Where they are parked in ghettos. It never occurred to you that in this biased environment for this cultural subset the correlation could be based on socio-economic conditions and NOT ethnicity. I have lived in Africa. I have lived in their villages, where they are relatively speaking, sugar sweet. Not in the urban ghetto jungle of USA or Europe, parked in ethnic ghettos where they are mostly outside mainstream economic trends and ideal victims of social ostracism. Even the worm turns...and I don't blame him...Darwin's theory is valid in the urban jungle of "developed countries". Take your race glasses off...but that requires an effort most are not ready to make...and sadly its getting worse with the economic downturn...it'll be back to vigilante lynching soon...
Ohhhhh ok. So in Africaaaa they are sweet as sugar huh? If rape is sweet as sugar....
"In eastern Congo, the prevalence and intensity of rape and other sexual violence is described as the worst in the world.[62] It is estimated that there are as many as 200,000 surviving rape victims living in the Democratic Republic of the Congo today.[63][64] A new study says more than 400,000 women are raped in the Democratic Republic of Congo annually"
"South Africa has some of the highest incidences of child and baby rape in the world with more than 67,000 cases of rape and sexual assaults against children reported in 2000.[72] Welfare groups believe that the number of unreported incidents could be up to 10 times that number. The largest increase in attacks was against children under seven"
I found thousands of other statistics on Africa regarding violent crime, rape, and STD's
But than again these are FACTS which people like you aren't willing to open your eyes to....because this is all the doing of the white man right?
You forget that in the country you mention there is an ethnic civil war going on...as a function of the grab as grab can western fed, financed, since 1961, for Congo's raw materials. Every country in Africa where there is civil strife going on you can bet your bottom dollar there are Western interests, huge ones, pouring oil on the fire...Learn your history and you'll have a clearer picture of slave population herd thinning.
I know my history.
Africans are among the most violent, impulsive, and rascist breeds out there. Every factual study ever done points to the same conclusion. It's the same throughout the world.
Those are FACTS. Like I said I didn't make this up out of some kind of bias. These are the numbers.
"Africans are among the most violent, impulsive, and rascist breeds out there. Every factual study ever done points to the same conclusion. It's the same throughout the world."
When I read these words I can't help thinking :
This is what they said about the red indian : 'the only good injun is a dead injun'.
This is what they said about the Commie : 'the only good commie is a dead Viet commie'
This is what they said about the Muslim fundamentalist : 'the only good Arab is a MF arab in abu Ghraib or Gitmo; water board the bastard!"
What bug has bitten you American hegemonists, like the ancient Romans, that you see in every hostile face that fights for "life, liberty and freedom", an agent of American destruction. You are something out of the Orson Welles radio announcement "the Martians are coming!" And its not funny this level of paranoia and the price the world pays to your insufferable hubris. You are toast as a human being; a replica of your own death wish...self fulfilling philosophy...Amen. Over and out.
Facts are facts. I have shown you FACTS.
You can accept the facts for what they are, or, you can live in self-created world of delusion.
Whatever you choose, I could care less.
Civil war 'facts' or ghetto discrimination 'facts' are not normal facts in a free, appeased society. Grow up. Its as if I said all americans should be sent to the electric chair for crimes against humanity by CIA, factually executed and recorded, world wide....Absurd.
It's rampant ALL OVER AFRICA. Not just in Africa, it's prevalent HERE among African immigrants. It's like that in Europe in African majority communities.
Anywhere.....ANYWHERE you have large communities of Africans you have high levels of rape, violent crime, and sexually transmitted diseases.
PROVE ME WRONG. I have shown you NUMBERS. Show me NUMBERS that say I'm wrong.
Nobody can PROVE it to you... its in your DNA...thats beyond proof...its 'kismet'...Amen.
lol, facts are not facts...
What you fail to realize is that those "facts" that you quote and hold so dear are being used out of context... by you.
You also fail to answer criticisms of your arguments... you just state... "facts are facts".
When it comes to history, you don't know shit. You use selected data to support your limited world view and refuse to acknowledge complexity.
To state the blacks are more violent and less intelligent than whites is laughable at best and sadly narrow minded and bigoted at worst.
I don't normally feed the trolls but when it comes to history... this is an area of expertise for me, don't spout bullshit and claim it as infallible.
ahh Mr. Dabolina, 'tis interesting how much faith you have in those "FACTS", as if gov't. bias & distortion only happens in "money market" stats, but never ever present in information designed to shape your bias against humans.
if statistics relative to war crimes were allowed the light of day, imagine how shabby some "white boys" would look - corporate, banking, military, mercenary - the most egregious crimes historically would have to include the white male, no?
Show me your numbers. I have done extensive research on this. Some of which I have highlighted here, but I'm not blasting this board with a 500 page thesis.
I honestly can't comment on war crimes, but I will research it. However, war is a crime in my opinion. Anytime we are forced to kill each other for whatever reason it is a tragedy.
Corporate/banking of course would have higher crime rates for whites. That's because white males (in this country) are the predominate demographic for that category of work. However, I am not talking about white collar crime. I was talking about violent crime, rape, and sexually transmitted diseases, and not just in America but on a world wide basis. Furthermore, I was talking about the intellectual capacity that has scientific disparity between Europeans/Middle Easterners/Asians and that of Africans.
If you put half this kind of effort of "extensive research" into the gold/silver manipulation story you might see the light on that topic too.
lol, so when a white commits a war crime, it's a war crime, but when a black commits a war crime, it's fundamental brutality and lack of impulse control.
You are one dumb faggot.
"Only $5 to dig from the ground."
"The shit is fucking everywhere!"
"It's all the fault of those damned NIGGERS!"
We ought to start compiling these "facts", just for shits and giggles.
When you entirely fuck up a world. Make it a stupid war machine, about to kill most of it off with your nuclear fuckups it's good to try to undo causation as much as possible. Because well that shit can't get back to you if you duck and dodge it.
Therefore: It's cause of NIGRAS!!!! Yeah that's the ticket.
Right, and I'm sure American soldiers never raped Indian women. Japanese soldiers never raped Nanking. Nazi soldiers never raped anyone, being the mighty Arians that they were.
Christ, your mind is so twisted, it can't even identify the difference between conformity to social norms (like following orders to rape women of a certain ethnicity as a weapon of terror) and impulse control (grabbing a woman and raping her in public, or in the bushes).
You are a credit to your race, troll.
"ideal victims of social ostrization"? LOL.
Victims of themselves, yes.
Will I be a hard worker or lazy?
Will I settle for what my family came from?
Will I lead my family and achieve great goals?
The problem is not the color of one's skin, but the grotesque lack of dignity, honesty and willingness to achieve reward based on effort and excellence.
When you live your life based on selfish behavior, easy money, and zero responsibility you get over 50% of Americans living off the "minority" of us paying.
Amen... elect an honest government...
They are the victims of government largess. Same with Native Americans. Same with anyone else who gets something for nothing for generations.
Funny how Native Americans suffer from all the same symptoms of societal decay that blacks do, but ten times worse, but no-one ever claims they have super low IQs as a group, or claims them to be inferior on some fundamental level.
The ghettos are not predominantly Black anymore. They also contain Latin Americans and Asians.
The blacks just moved to new ghettos. There are ghettos for both of those other groups, but they generally don't mix.
Doubt its gonna stay that way. See Botswana, Nigeria, forging ahead on policies despite skin color.
Same went for the Irish 150 years ago. Today? Not so much.
There is more genetic diversity among the peoples of Africa than there is in the rest of the world combined. This points quite firmly to a different cause for murder, rape, STD transmission rates, and poverty. Namely, GOVERNMENT.
But then, you have revealed yourself as a bigot. You and Trav should get together and have an "I Hate Black People" party. Maybe you could make shirts, and go to a few downtown bars wearing them.
I don't hate black people. You said I hate black people.
If I was black and said "black people are better at sports" would that make me a racist black person? No. A bigot? No. Would that mean I hate white people? No.
But because I'm white and saying white people are smarter than black people, and are more impulse controlled, that means to you that I hate black people.
These are just the facts. I'm sorry if you don't want to accept them tmosely, but you can't find any statistics, facts, or history that proves me wrong. That's because I'm right.
Every time I prove you wrong, show you numbers, show you facts, you incessantly choose to ignore them and you go on to do 1 of 2 things:
-You go on to call me faggot
-You go on to call me racist.
Those are the only rebuttals you can ever come up with. That's because you are ignorant.
lol, I guess false facts are still facts, of a sort.
Yes, a black person saying blacks are better at sports is racist. If that were true, then African nations would dominate the Olympics. They don't.
Yes, a white person saying whites are smarter than blacks is racist. A white person saying whites have more impulse control is racist. BY DEFINITION.
For the definition, lets go to wikipedia: Racism is the belief that there are inherent differences in people's traits and capacities which are entirely due to their race, however defined, and which consequently justify those people being treated differently, both socially and legally.
http://en.wikipedia.org/wiki/Racism
And you and trav are both faggots. For the definition, ask this baby: http://www.youtube.com/watch?v=I7hQN4Amaeg
You seek attention through anti-social means. Faggots.
So yes, you are both racist faggots.
Oh, and by the way, the same study that claimed that whites were X amount smarter than blacks said Asians were smarter than whites. And yet Asia is generally a shitty place to live, except for those few places that have adopted the West's respect for property rights, and don't have shitty, confiscory fascist governments.
But then, that level of thought is clearly beyond you, roundeye. I'll let your lack of reading comprehension go as well (I didn't call you a faggot in that post, though you clearly are), since your brain is so inferior to that of the mighty Asian.
According to the DICTIONARY:
Racsim is defined as,
"a belief or doctrine that inherent differences among the various human races determine cultural or individual achievement, usually involving the idea that one's own race is superior and has the right to rule others." I NEVER said my race was superior, nor did I say it has the right to rule others. However, every race has it's own strengths and weaknesses. If you deny that than you are just a stupid fuck. Sports is DOMINATED by blacks, because they are taller, faster, and built bigger. To deny that is just straight fuckin' stupidity on your part. To deny the facts that whites/asians DOMINATE in the fields of literature, science, and math among other things is straight IGNORANCE on your part. Every race is not equal in all it's strengths and weaknesses, but no race is superior, nor does any race have an inherit right to rule others. And I never juxtaposed IQ to quality of life. There are many brilliant people who live in squalor. And there you go....faggot. It's the only thing you can say in an effort to insult me. If you are so comfortable saying faggot, than I guess I can call you a stupid nigger.Feel free to call me a "stupid nigger", as it exhibits your bigotry, your utter stupidity and ignorance of reality. You run around screaming about how stupid blacks are, and how smart whites are for literally no reason. Other than attention seeking. Like a Harley riding faggot.
Take your definition of racism from an unspecified dictionary, and cut out the part after "usually". Congratulations, you are still a racist by your own definition.
Funny how you cite SPORTS and not ATHLETICS as being dominated by blacks. Think about sports for a second. Is it just about speed, or strength, or even size? No. It's about team spirit. IMPULSE CONTROL.
If they were just bigger, stronger, and faster, they would dominate the olympics, which are a measure of pure physical prowess. But look at the multiple Olympic medal winners: http://en.wikipedia.org/wiki/List_of_multiple_Olympic_gold_medalists
Only one black guy in the top ten. ONE! And that's Carl Fucking Lewis.
But your mind is so fucked up, it's beyond repair. Why don't you go seek some real life attention and jump off a fucking building?
http://dictionary.reference.com/browse/racism
And if you run around calling people "faggot" that is just as bad as running around calling people "nigger" They are both discriminatory but I guess because you are black and conceited you only feel that discrimination can happen to you. You don't care if the word faggot is insulting to homosexuals. So that makes you a nigger. So as long as you can run around the boards calling people stupid faggot, they should be able to equally call you a stupid nigger (because that's what you act like)
And let's go to this Olympics analogy. I have been saying blacks are built bigger, faster, etc. Everyone knows that black people are bad swimmers (does that make me racist?) A lot of those medals are swimming related...and I don't consider "canoeing" a sport...canoeing is an activity. I'm talking about sports like football, basketball, sprinting (track), etc. It is completely ridiculous to juxtapose their strenthgs with fencing, archery, and shooting. How many Asians are in the NFL?
Africans have many strengths that Europeans and Asians don't, I'm not denying that. But it is disingenuous to say that every race is equal in their strengths/weaknesses. It is most important for me emphasize that no race is superior, and no race has a right to rule another.
Homosexuals aren't faggots anymore. Annoying attention seeking shits like you are faggots.
Even a baby can tell the difference: http://www.youtube.com/watch?v=I7hQN4Amaeg
Fine, take away the swimming, the canoeing, the archery, all that shit. What are you left with?
Still only one black in the top 20. ONE!
And you still haven't explained how a bunch of dumb brutes with no impulse control are able to dominate team sports.
Maybe, JUST MAYBE could it be that sports are seen as a way out for many poor neighborhoods, and that the kids don't see a way out in academics, so they devote their attention to athletics instead? Maybe that is the reason, rather than "niggurz is dum"?
There are not too many blacks playing professional hockey.
Blacks don't like getting their family jewels bashed by hockey sticks or hockey moms...its not in their inherent culture.
Or maybe there are just no protective sports cups made large enough for them.
;-)
+1
That claim simply ignores the facts that as soon as they did something against the rules by the worldwide debt mafia, their economy was going to collapse, no matter of their intelligence, education, or anything else.
China now the world's largest buyer of gold!
http://finance.yahoo.com/banking-budgeting/article/112783/china-top-gold...
I guess you decided not to do that flip afterall.
http://www.youtube.com/watch?v=SngYwMsxJ4U
Blythe do me a favor...find your self a RICH chinese lover..your troubles will be over..
Anyone who is in the diamond business knows that it is one of the biggest scams going. Talk about new car depreciation of 30% once you are off the lot; how about at least 50% for diamonds? Just try to resell the diamond you just bought.
On a nominal basids, I would trade diamonds for gold all day long.
good call
A bit of a non story here being puffed up to prove a point,but if it ever happened,I hope the native Zimbabweans are prepared for the carpet bombing and "liberation" by armed forces and the restoration of "democracy" that only a fiat currenct can bring.
Even they learned eventually: will Berniecopter come back to his senses?
The Gideon Gono school of economics strikes again! :-)
I have always felt that China was in a race to issue a commodity-based currency. I feel that way more than ever!! I'm just surprised hat I haven't seen a flood of 'what if' articles.
After all, they mine and/or own them all, from gold and silver to oil to salt to....
"Zimbabwe, a country rich in natural resources, took so long to figure out it was nothing but a puppet in the hands of western monetary interests." Congrats are in order here as the first step towards a better life is to understand the truth and know thy enemy.
The US could have a farmland food backed currency.....
Eat that one.....
would run into trouble globally, as many countries are not interested in Monsanto's GMO-fud, used as cheap filler in processed corporate fuds (GMO corn & soy) - in amrka there is no disclosure (ie, not required to label GMO - or irradiated - ingredients). . .
about as toxic as the dollar really.
http://www.asianews.it/news-en/Plastic-rice-made-in-Taiyuan-20751.html
"The government wants the foreign miners to sell controlling stake in ventures to local blacks, which is obviously frowned up on by all."
Is that an economic term I'm not familiar or was this a racist way of refering to the indeginous peoples of Zimbabwe?
Epic, go Zimbabwe! Lead the charge my hyperinflationary friends!
http://silverliberationarmy.blogspot.com/
AFK bitchez!
Diamonds, love don't come for free.
http://www.theglobeandmail.com/report-on-business/economy/mark-carney-fr...
Another look at reality from the Canadian propsective
Uhm, like because of things such as: http://en.wikipedia.org/wiki/Nixon_Shock or http://en.wikipedia.org/wiki/Executive_Order_6102 tend to happen unless it isn't?
Damn Zimbabwean financial terrorists! We must invade to liberate the people.
The Gold market was boring for awhile there. I've got some already. What's the big deal? Diamonds in the periodic table are the element C. You figure it out.
While I like the concept of a gold-backed currency, what will happen to Zimbabwe when/if gold were to plummet in value? What if gold lost even 10% of its current purchasing power after Zimbabwe acquired as much as it could at current valuations? They'd be screwed ... especially in the short term. And after all, the long term doesn't matter if you can't survive the night.
Check out the latest Keiser Report starting at the 5 minute mark, he talks a little about this issue. Right or wrong, his logical thesis is that, given the growing lack of faith in world fiat currencies, the first country to adopt a gold standard will initiate a domino effect and eventually force all other countries into the same action.
http://www.youtube.com/watch?v=o3mW1eGBeoE
"A week ago we presented the idea floated by once hyperinflationary Zimbabwe, oddly jeered by most,..."
;-)
The idea that Zimbabwe could operate an honest gold standard is laughable. If somehow this farce got started, Mug and Bono would immediately pilfer any gold for themselves, and if the program lasted long enough for any citizens of zim to hold the notes, assuming they weren't first killed by "veterans," they would immediately redeem the notes on the hope they could get the gold out before Mugabe. Mugabe Bernenke (Rosenvelt) what's the real dif?
Why not just cut out the "backing" and simply use gold?
The law of conservation of mass will then look after any tendency towards double entry book-keeping.