With Gold Prices hitting a new record high of $1403 and currency volatility looms the currency markets concerning what should be a medium of exchange. Some financial regulators are proposing a return of a modified gold standard. This is a rare opportunity for a country like ours with a weak currency but huge reserve of gold to raise our capital income and currency value.
Tanzania is believed to be a third producer of gold in Africa it is a high time for our leaders to reconsider what measures needs to be taken to improve our currency value and the economy. Financial markets nowadays trade more in terms of gold compare to national currencies such as us dollar or pounds or euros.
My suggestion to government is to consider a possible way we could benefit out of this rare opportunity to boost our economy (If our leaders are truly patriotic about our country (wazalendo)).
Source : Bloomberg, CNN, Financial Times, Mkutano ninaouhudhuria.
Tanzania is believed to be a third producer of gold in Africa it is a high time for our leaders to reconsider what measures needs to be taken to improve our currency value and the economy. Financial markets nowadays trade more in terms of gold compare to national currencies such as us dollar or pounds or euros.
My suggestion to government is to consider a possible way we could benefit out of this rare opportunity to boost our economy (If our leaders are truly patriotic about our country (wazalendo)).
Source : Bloomberg, CNN, Financial Times, Mkutano ninaouhudhuria.
