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Zimbabwe beats a path to the future.

  • Wed, Aug 05, 2015 - 11:12pm


    Arthur Robey

    Status Platinum Member (Offline)

    Joined: Feb 03 2010

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    Zimbabwe beats a path to the future.

We can learn a few lessons from Zimbabwe on what to expect from a complete currency collapse. Of cause it doesn't happen overnight. You have to have patience.

The Government is in the process of crafting a policy to decriminalise the possession of gold, an official has said.
Announcing the mid-term monetary policy statement this morning, Reserve Bank of Zimbabwe governor Dr John Mangudya said the move is aimed to boost gold deliveries to Fidelity Printers and Refiners.
Currently, Section 3 (1) of the Gold Trade Act criminalises the possession of gold without a licence.
“There is need to decriminalise the possession of gold and instead focus on engaging the artisan miners on the norms and principles of responsible gold trading in line with best practice.
“To this end, the Reserve Bank, in consultation with the relevant authorities, is currently working on a policy to decriminalise the possession of gold in order to allow those in possession of gold to sell it to Fidelity Printers and Refiners,” said the central bank governor.
Official stats show that over the past five years large scale producers have contributed 75 percent to total gold production, while the balance has been accounted for by small scale miners.
According to the RBZ, gold deliveries during the first half of 2015 were 8 181,16 kilogrammes. Expectations are that if the present trend in deliveries continues, gold production for the whole year would surpass 13 899,9 kgs achieved in 2014 to around 16 tons.
How do I read this? The government has lost control of the money supply. Bob is no getting his fair share.