Here’s an amazing story out of Zimbabwe. Zimbawe was once hailed as the breadbasket of Africa. Now, according to the video, the Zimbabwean people, once one of the best educated and most productive in Africa, have become a nation of gold panners and grub-stake miners. Why? Because Zimbabwe’s currency is worthless. To buy food, you need gold. According to the video, one-tenth of a gram of gold buys a loaf of bread.
The man who made this video is a political opponent of Zimbabwe’s strongman Mugabe. Certainly, some people there are suffering horribly. And Zimbabwe’s gold production rose 35% in 2009 while the rest of that country’s economy evaporated, so there’s obviously a lot of gold mining going on there.
According to Commodity Online, the mining sector in Zimbabwe is booming now. But do you really want to invest there?
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