Awake-in-3D: Zimbabwe Gold ZiG Collapse, Lessons on How Not to Launch a Gold-Backed Currency

Zimbabwe Gold ZiG Collapse: Lessons on How Not to Launch a Gold-Backed Currency Zimbabwe’s gold-backed currency was supposed to bring stability, but mismanagement led to its rapid decline. A gold-backed currency can work, but only if implemented correctly. The Zimbabwe Gold ZiG was introduced as a gold-backed solution to the country’s currency instability, promising to restore confidence in Zimbabwe’s monetary system. However, less than a year after its launch, the currency has lost nearly half its value, inflation is rising, and the U.S. dollar remains the preferred medium of exchange. The problem isn’t with gold backing itself—historically, such systems have provided stability—but…