1. The Gold Coins: How do they work?
These are not coins for day to day transactions in shops, they are “safe” INVESTMENTS.
Instead of keeping cash that can suffer from inflation, u keep gold.
U can sell them in future at prevailing gold prices.
In short, STORING VALUE.
These are not coins for day to day transactions in shops, they are “safe” INVESTMENTS.
Instead of keeping cash that can suffer from inflation, u keep gold.
U can sell them in future at prevailing gold prices.
In short, STORING VALUE.
2. Do l take the coin home?
It depends on the @ReserveBankZIM’s preferred arrangement but the best approach is for people to take home their coins if they want to or have them stored somewhere safer. Surely it’s dangerous to keep such valuable coins in your house.
It depends on the @ReserveBankZIM’s preferred arrangement but the best approach is for people to take home their coins if they want to or have them stored somewhere safer. Surely it’s dangerous to keep such valuable coins in your house.
3. Won’t they be smuggled out of Zimbabwe?
In South Africa, the @SAReserveBank allows individuals to export up to 15 Krugerrand gold coins. The RBZ can put such limits too.
However, there is no benefit in taking them elsewhere if RBZ is selling them at International Gold Prize.
In South Africa, the @SAReserveBank allows individuals to export up to 15 Krugerrand gold coins. The RBZ can put such limits too.
However, there is no benefit in taking them elsewhere if RBZ is selling them at International Gold Prize.
4. What about “looting”?
The KEY PROBLEM with the @ReserveBankZIM is selling AT BELOW MARKET price, that’s what creates arbitrage opportunities. There can only be hoarding & looting if the coins are sold at below market price. Otherwise price will be same in & outside Zim🇿🇼
The KEY PROBLEM with the @ReserveBankZIM is selling AT BELOW MARKET price, that’s what creates arbitrage opportunities. There can only be hoarding & looting if the coins are sold at below market price. Otherwise price will be same in & outside Zim🇿🇼
5. Is there possibility of losing value?
YES!
This👇 is the gold price in the past 12 months. U can buy today & tomorrow the price of gold goes down. Just like any other investment, there is UNCERTAINTY (risk).
However, gold is generally a SAFE HAVEN, very low risk!
YES!
This👇 is the gold price in the past 12 months. U can buy today & tomorrow the price of gold goes down. Just like any other investment, there is UNCERTAINTY (risk).
However, gold is generally a SAFE HAVEN, very low risk!
6. Kudzi, will u buy the coins?
Yes, l will buy the coins. But my decision will be based on the @ReserveBankZIM’s arrangement. I don’t want to buy a gold coin today only to be given bronze 2 years later. The RBZ’s lack of consistency will weigh down this great initiative!
Yes, l will buy the coins. But my decision will be based on the @ReserveBankZIM’s arrangement. I don’t want to buy a gold coin today only to be given bronze 2 years later. The RBZ’s lack of consistency will weigh down this great initiative!
7. Is this unique to Zimbabwe?
Not at all! In South Africa they sell Krugerrand gold coins.
The price goes up & down in line with international gold prices.
1 ounce Krugerrand currently selling at R31 000.
U can buy today & tomorrow price goes to R35k 😊or R29K😭
Not at all! In South Africa they sell Krugerrand gold coins.
The price goes up & down in line with international gold prices.
1 ounce Krugerrand currently selling at R31 000.
U can buy today & tomorrow price goes to R35k 😊or R29K😭
8. So this can be quick money??
It’s not good to do this for short term speculative trading, rather look in the long term…
Indeed some people buy & sell repeatedly in the short term while others look to hold in the long term.
Up to u.
It’s not good to do this for short term speculative trading, rather look in the long term…
Indeed some people buy & sell repeatedly in the short term while others look to hold in the long term.
Up to u.
9. Will it be sold in Zim$?
Again, we wait for @ReserveBankZIM arrangements. However, THERE IS NO JUSTIFICATION for not selling it in Zim$ since it’s legal tender in Zim. In fact, such coins are used by Central Banks to to manipulate supply of local currency in circulation.
Again, we wait for @ReserveBankZIM arrangements. However, THERE IS NO JUSTIFICATION for not selling it in Zim$ since it’s legal tender in Zim. In fact, such coins are used by Central Banks to to manipulate supply of local currency in circulation.
10. Any concerns?
My biggest concern is the lack of integrity of the folks at @ReserveBankZIM. They aren’t interested in allowing markets to determine prices freely. If the coins are sold at below market value, IT WILL BE A CORRUPT SCHEME - nothing more.
Asante
My biggest concern is the lack of integrity of the folks at @ReserveBankZIM. They aren’t interested in allowing markets to determine prices freely. If the coins are sold at below market value, IT WILL BE A CORRUPT SCHEME - nothing more.
Asante
11. Indeed, this could be a game changer!
#investing #Gold #Zimbabwe #resignationletter
kudzaimutisi.co.zw/zimbabwes-gold…
#investing #Gold #Zimbabwe #resignationletter
kudzaimutisi.co.zw/zimbabwes-gold…
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