Gold backed but debased against USD! It tells about the whole crap.
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They dont gave the gold to back it?
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330 sats \ 1 reply \ @siggy47 29 Sep
I don't think the people trust the claim that the central bank will back the currency with gold. I don't believe there is a method to convert the paper to actual metal.
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I dont think l would trust their banks either.
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Reason #638 to hold bitcoin
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Maybe one day people will learn not to trust Zimbabwean currencies?
Though my 100T Zim dollar bill has 5x'd in value against the USD since I got it, so maybe I'm wrong..
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110 sats \ 0 replies \ @jasonb 29 Sep
This is so tragic.
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Lol Gold up to all time highes, yet you devaluing by 40% make it make sense, just a reminder that when people say oh we'll back our fiat with bitcoin its just cope, don't let that story fool you
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Trying to fix fiat monetary problem with fiat monetary policy? It can't be fixed, It must be replaced.
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100 sats \ 0 replies \ @wingalt 2 Oct
Good attempt to rescue their failing currency but how is it possible to work when the rest of the world can print money at will?
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