by Myra P. Saefong, Market Watch:
Zimbabwe is looking to gold to “expand value-preserving instruments,” launching a gold-backed digital currency last week as the nation suffers from hyperinflation and its currency continues to diminish in value.
The move is an “interesting experiment to see if locals will warm up to a more stable currency and trust the nation’s central bank in its endeavors,” Peter Spina, president of GoldSeek.com, told MarketWatch.
The Reserve Bank of Zimbabwe said it was issuing the gold-backed digital tokens in a move to “expand value-preserving instruments” available in the nation’s economy, as well as “enhance the divisibility of the investment instruments and widen their access and usage by the public.”
GOLD CLOSED UP $2/85 TO $2017.60//SILVER WAS UP 13 CENTS TO 424.10//PLATINUM WAS UP $7.00 TO $1068.25/PALLADIUM IS UP $15.00 TO $1833.20//GOOD STUDY ON SUPPLY/DEMAND PARAMETERS FOR PLATINUM AND IS A MUST READ//ALSO EGON VON GREYERZ COMMENTARY ON GOLD AND THE ECONOMY//COVID UPDATES: VACCINE IMPACT//DR PAUL ALEXANDER/SLAY NEWS/EVOL NEWS//UKRAINE VS RUSSIA UPDATES//USA DEPOSITS FROM BANKERS CONTINUE TO OUTFLOW//FED HAS ONLY $88 BILLION LEFT OR ROUGHLY UNTIL MAY 29//TIGER GLOBAL STARTS TO LIQUIDATE ITS HUGE NUMBER OF STARTUPS
