Zimbabwe Looks to Gold Standard

Written By: Jack Kenny  |  Posted: Wednesday, June 1st, 2011

                 It looks like Ron Paul and Steve Forbes aren't the only ones talking about the gold standard for what Paul has called an "honest currency" that won't be made worthless by inflation. The central bank of Zimbabwe, where hyperinflation is not a stranger, is considering adopting a gold-backed currency according to a recent report in the New Zimbabwe.

                 The government there "ditched the Zimbabwe dollar in 2009 after it had been rendered worthless by record inflation levels and adopted multiple foreign currencies with the US dollar, the South African Rand and the Botswana being the most widely used," the report said.

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