{"id":63477,"date":"2022-07-27T18:24:13","date_gmt":"2022-07-27T16:24:13","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites"},"modified":"2022-07-27T21:11:50","modified_gmt":"2022-07-27T19:11:50","slug":"ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites","title":{"rendered":"Ex-Deputy Prime Minister Mutambara: RBZ Gold Coins A Self-Enrichment Scheme For Elites"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>Former Deputy Prime Minister Arthur Mutambara has trashed the Reserve Bank of Zimbabwe\u2019s (RBZ) Mosi-oa-Tunya gold coins initiative, supposedly meant to ease inflation, as nothing other than a \u201cshameful opportunity for the elite to loot.\u201d<\/p>\n

The RBZ introduced gold coins which economist Prosper Chitambara says are a government\u2019s attempt at moderating the very high demand for the United States dollar (USD).<\/p>\n

Posting on Twitter, Mutambara said:<\/p>\n

Gold Coin: A Self-Enrichment Scheme for the Elites<\/p>\n

Take your USD to the parallel market and get RTGS at, say, 1 USD to 950. Buy gold coins in RTGS at 1 USD to 441 (gold coin exchange rate) and make a profit of more than 100%.<\/p>\n

The Gold Coin arbitrage. This is common sense. Gold Coin & the Elites. It gets worse!<\/p>\n

For the elites; you take your RTGS to the RBZ and buy USD at the auction rate, say 320. You take this ill-gotten USD to the parallel market and buy RTGS at 950.<\/p>\n

That is a profit of 200% Then go and buy your gold coins at 100% profit. From 10K USD to 60K USD (With no Production).<\/p>\n

500% Profit for the Elites. Take 10k USD to the parallel market and buy RTGS at 950. Go to the RBZ & buy USD at 320 (auction rate). Go back to the parallel market & buy RTGS at 950.<\/p>\n

Buy gold coins & pay in RTGS. It is shameful.<\/p>\n

The central bank chief, Dr John Panonetsa Mangudya Monday launched 2 000 Mosi-oa-Tunya gold coins with a value of US$1 824 each, to provide \u201can alternative store of value.\u201d<\/p>\n

The figure is equivalent to ZW$805 745.35 for each.<\/p>\n

Mutambara was Zimbabwe\u2019s Deputy Prime Minister during the Government of National Unity (GNU), between 2009 and 2013 when the country realised considerable economic development.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. Former Deputy Prime Minister Arthur Mutambara has trashed the Reserve Bank of Zimbabwe\u2019s (RBZ) Mosi-oa-Tunya gold coins initiative, supposedly meant to ease inflation, as nothing other than a \u201cshameful opportunity for the elite to loot.\u201d The RBZ introduced gold coins which economist Prosper Chitambara says are a government\u2019s attempt at moderating the […]<\/p>\n","protected":false},"author":84,"featured_media":63476,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6,35,15],"tags":[1493,2189,2861,10984,19],"class_list":{"0":"post-63477","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"category-homepage-english","10":"category-twitter","11":"tag-africa-press","12":"tag-africa-press-zimbabwe-2","13":"tag-arthur-g-o-mutambara","14":"tag-rbz-mosi-oa-tunya-gold-coin","15":"tag-zimbabwe"},"yoast_head":"\nEx-Deputy Prime Minister Mutambara: RBZ Gold Coins A Self-Enrichment Scheme For Elites - zimbabwe<\/title>\n<meta name=\"description\" content=\"Former Deputy Prime Minister Arthur Mutambara has trashed the Reserve Bank of Zimbabwe\u2019s (RBZ) Mosi-oa-Tunya gold coins ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ex-Deputy Prime Minister Mutambara: RBZ Gold Coins A Self-Enrichment Scheme For Elites\" \/>\n<meta property=\"og:description\" content=\"Former Deputy Prime Minister Arthur Mutambara has trashed the Reserve Bank of Zimbabwe\u2019s (RBZ) Mosi-oa-Tunya gold coins ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-27T16:24:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-27T19:11:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/07\/postQueueImg_54-62e18ddda25ae.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"474\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites\",\"name\":\"Ex-Deputy Prime Minister Mutambara: RBZ Gold Coins A Self-Enrichment Scheme For Elites - zimbabwe\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/07\/postQueueImg_54-62e18ddda25ae.jpg\",\"datePublished\":\"2022-07-27T16:24:13+00:00\",\"dateModified\":\"2022-07-27T19:11:50+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/2e02b5816e71b1149d79877f669a85e4\"},\"description\":\"Former Deputy Prime Minister Arthur Mutambara has trashed the Reserve Bank of Zimbabwe\u2019s (RBZ) Mosi-oa-Tunya gold coins ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/07\/postQueueImg_54-62e18ddda25ae.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/07\/postQueueImg_54-62e18ddda25ae.jpg\",\"width\":720,\"height\":474,\"caption\":\"Ex-Deputy Prime Minister Mutambara: RBZ Gold Coins A Self-Enrichment Scheme For Elites\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.cc\/zimbabwe\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ex-Deputy Prime Minister Mutambara: RBZ Gold Coins A Self-Enrichment Scheme For Elites\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#website\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/\",\"name\":\"zimbabwe\",\"description\":\"\u0623\u062e\u0628\u0627\u0631 \u064a\u0648\u0645\u064a\u0629 \u0639\u0644\u0649 \u0645\u062f\u0627\u0631 \u0627\u0644\u0633\u0627\u0639\u0629\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/zimbabwe\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/2e02b5816e71b1149d79877f669a85e4\",\"name\":\"cfeditoren\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Ex-Deputy Prime Minister Mutambara: RBZ Gold Coins A Self-Enrichment Scheme For Elites - zimbabwe","description":"Former Deputy Prime Minister Arthur Mutambara has trashed the Reserve Bank of Zimbabwe\u2019s (RBZ) Mosi-oa-Tunya gold coins ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites","og_locale":"en_US","og_type":"article","og_title":"Ex-Deputy Prime Minister Mutambara: RBZ Gold Coins A Self-Enrichment Scheme For Elites","og_description":"Former Deputy Prime Minister Arthur Mutambara has trashed the Reserve Bank of Zimbabwe\u2019s (RBZ) Mosi-oa-Tunya gold coins ...","og_url":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites","og_site_name":"zimbabwe","article_published_time":"2022-07-27T16:24:13+00:00","article_modified_time":"2022-07-27T19:11:50+00:00","og_image":[{"width":720,"height":474,"url":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/07\/postQueueImg_54-62e18ddda25ae.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites","url":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites","name":"Ex-Deputy Prime Minister Mutambara: RBZ Gold Coins A Self-Enrichment Scheme For Elites - zimbabwe","isPartOf":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/07\/postQueueImg_54-62e18ddda25ae.jpg","datePublished":"2022-07-27T16:24:13+00:00","dateModified":"2022-07-27T19:11:50+00:00","author":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/2e02b5816e71b1149d79877f669a85e4"},"description":"Former Deputy Prime Minister Arthur Mutambara has trashed the Reserve Bank of Zimbabwe\u2019s (RBZ) Mosi-oa-Tunya gold coins ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites#primaryimage","url":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/07\/postQueueImg_54-62e18ddda25ae.jpg","contentUrl":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/07\/postQueueImg_54-62e18ddda25ae.jpg","width":720,"height":474,"caption":"Ex-Deputy Prime Minister Mutambara: RBZ Gold Coins A Self-Enrichment Scheme For Elites"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/ex-deputy-prime-minister-mutambara-rbz-gold-coins-a-self-enrichment-scheme-for-elites#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.cc\/zimbabwe\/"},{"@type":"ListItem","position":2,"name":"Ex-Deputy Prime Minister Mutambara: RBZ Gold Coins A Self-Enrichment Scheme For Elites"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/zimbabwe\/#website","url":"https:\/\/www.africa-press.net\/zimbabwe\/","name":"zimbabwe","description":"\u0623\u062e\u0628\u0627\u0631 \u064a\u0648\u0645\u064a\u0629 \u0639\u0644\u0649 \u0645\u062f\u0627\u0631 \u0627\u0644\u0633\u0627\u0639\u0629","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/zimbabwe\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/2e02b5816e71b1149d79877f669a85e4","name":"cfeditoren"}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.cc\/zimbabwe\/wp-json\/wp\/v2\/posts\/63477","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.cc\/zimbabwe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.cc\/zimbabwe\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.cc\/zimbabwe\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.cc\/zimbabwe\/wp-json\/wp\/v2\/comments?post=63477"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.cc\/zimbabwe\/wp-json\/wp\/v2\/posts\/63477\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.cc\/zimbabwe\/wp-json\/wp\/v2\/media\/63476"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.cc\/zimbabwe\/wp-json\/wp\/v2\/media?parent=63477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.cc\/zimbabwe\/wp-json\/wp\/v2\/categories?post=63477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.cc\/zimbabwe\/wp-json\/wp\/v2\/tags?post=63477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}