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Can Tanzania Benefit from the returning of the possible Gold Standard????

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by Mdondoaji, Nov 9, 2010.

  1. M

    Mdondoaji JF-Expert Member

    Nov 9, 2010
    Joined: Mar 17, 2009
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    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.
  2. N

    NSUMUKA Member

    Nov 14, 2010
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    Before we continue to contribute what is the current situation in the economy. Give more empirical data.
  3. M

    Mdondoaji JF-Expert Member

    Nov 15, 2010
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    Empirical data unazozitaka nenda katika Website ya BOT utazipata na zaidi angalia recent quartely economic data utakuta reserves za gold zimepanda, lakini cha kushangaza ni kwamba we still depend on agriculture ????
  4. Dar_Millionaire

    Dar_Millionaire JF-Expert Member

    Nov 16, 2010
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    Gold has its limitations. It is not as liquid as cash. It's market is small and prices are volatile. There's much noise now due to the spike in gold prices but it will crash when current holders decide to cash in. Enjoy the ride while it lasts.