For the first time in 25 years, a country has released a gold-based currency. The United States officially left the gold standard in 1971, and Switzerland was the last to abandon it in 1999. But on April 30th, Zimbabwe officially launched its gold-backed currency, Zimbabwe Gold. Zimbabwe Gold (ZiG, for short) is the world’s first gold-backed currency in two and a half decades but marks Zimbabwe’s sixth currency attempt since 2009. While this one claims the security of gold, something the previous five failed currencies didn’t have, there’s more to it than meets the eye. Watch this video to learn more about ZiG and why BRICS is probably closely watching the currency’s success or failure. #apmex #gold #preciousmetals
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