Zimbabwe will begin selling gold coins to the public in an attempt to rid the crisis-wracked country of triple-digit inflation after a collapse in the local currency.
The “Mosi-oa-tunya” coins, which are named after the Victoria Falls, will act as an alternative store of value and can be converted into cash and traded as officials attempt to shore up the crumbling Zimbabwean dollar.
The country is desperately trying to battle the crisis caused by inflation hitting almost 200pc in June and a slump in the local currency. The Zimbabwean dollar has shed more than two-thirds of its value against the US dollar this year.
It’s almost like Modern Monetary Theory has a hole in it, isn’t it? That if you keep printing money then the money you keep printing becomes worth nothing…..this is, at least, the third time in this one country…..