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Allow the masses to trade in precious minerals, to bring stability to our Zim$ currency

25 Apr 2022 at 07:09hrs | Views
Zimbabwe has had, what is now Refered to as a merry-go-round foreign currency policy, which has a five year cycle of a Zim$, dual currency and a USD$ and then back to Zim$. These cycles have been consistent for the last twelve years plus and the evidence is there for all to see that RBZ and through the ministry  of finance will soon introduce the Zim$ and ban the local use of the stable US$, which they are known to do, even the publication from CZI points to that effect, with the RBZ castigating CZI yet the fact on the ground points precisely torwards that direction. The simple solution to tame Zimbabwe's exchange challenges is to allow the masses to trade in our natural resources openly. The Government of Zimbabwe says the minerals and natural resources belong to the people. Let us empower the people of Zimbabwe and allow them to trade in the abundance of minerals like gold and diamond which the law dim illegal. I have travelled throughout Zimbabwe, and some of my family members are geologists and miners. I have seen some of them either buying from small-scale miners or simply delivering their minerals to Fidelity Printers. Statistically the small to medium scale miners are the biggest contributors of fidelity. I remember stopping at a drinking place in Kadoma only to be told that all the beers had been bought by small-scale miners (Makorokoza) who locked the fridge and took away the key.

Seeing a hive of activity at some growth point, I asked where the money was coming from and I was told that gold was "everywhere." With this in mind, why can't our Government adopt the use of gold or diamonds as a means of barter trade and repeal the old colonial law that stop citizens from trading in gold and other precious minerals?

What I am simply proposing to our Government and the RBZ Governor is to change the mineral laws and fully empower our people by allowing our citizens to trade in gold, diamonds, and other minerals.

Zimbabwe is one of the richest countries on earth in respect to untapped natural resources per person. In regards to the mineral exploration of the nation it has  one of the world's largest diamond reserves, and second largest platinum reserves as if that isn't enough it also has over 40 exploitable minerals.These minerals have the potential to turn Zimbabwe into the jewel of Africa again.

I do not live in hope but believe that Zimbabwe will be the best country on earth in five, yes five years time if this government adopts this simple proposal. 

Remember the trade in minerals is pegged in US$, as more and more of these minerals are changing hands this will stabilize the Zim$ making it easier for RBZ to peg the local currency with the US$.

Removing these colonial laws will also make it easier for our authorities to know the minerals in circulation and use this information to either inject local currency or limit the distribution as our economy continue to grow. 

With this approach there will be sanity and stability in our currency and bring stability to the five year cycle which we are not accustomed to.

Zvinoita chete. 

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Source - Jacob Kudzayi Mutisi
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