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Lessons from Germany’s Degussa Bank: How to unlock the value of Zimbabwe’s gold reserves

By Colls Ndlovu
Yesterday there was a huge snake-like queue winding outside the offices of a German gold supplier – Degussa – to buy gold as the German government will limit the anonymous gold purchases from about US$10 000 currently down to about US$2 000.
Currently in Germany you can buy and sell gold anonymously up to US$10 000 without the need to fill forms, or sign anything.
In other words Germans are free to transact in gold up to those amounts anonymously.
Meanwhile in Zimbabwe, which is a major gold producer, its people are undoing each other arguing viciously why they shouldn’t use gold as their own currency and also as a store of value  for their hard earned money.
So that’s why I argue to say that the Zimbabwean crisis is a deliberate stage-managed exercise.
It is an artificial crisis.
Our people are supposed to be the richest in the world.
Yet they will argue and resist furiously any movement towards assisting them to realise that reality (it’s not even a dream, it’s a reality).
If Germany – without a single gold mine – allows it’s people to buy and sell gold anonymously anywhere for up to US$10 000.
What the devil stops Zimbabwe from doing the same to it’s citizens and make them rich instantaneously at the stroke of a pen?
It’s really high time for these (our) people to rise above the shallow waters of narcissism and do something for the future of their (our) children.
Arguing ad infinitum (endlessly) and ad libitum (as far as possible) is not going to help the Zimbabwean cause.
In Germany, Degussa bank specialises in direct gold and silver transactions.
You can open a gold account with it.
You can withdraw physical gold or silver in the form of bars or coins.
You can keep your gold bars or coins at home or under your mattress.
Just one gold coin (size of an SA R2 coin) is worth about US$1500 at today’s gold price
So once again, Zimbabweans are not suffering because of the scarcity of the so-called  resources, or anything really.
Zimbabweans are suffering because of imbecility and hubristic antics, by themselves, and by the clueless leadership.
These are at the core of the treacherous conditions under which ordinary people find themselves in.
If gold producing countries like Zimbabwe do not take a lead on these things then who would?
Why does Germany which does not have a single gold mine, licence banks that specialise in gold and silver – while Zimbabwe banking graduates are selling matemba and mazhanje in the streets of Bulawayo and Harare?
(Slightly adapted)
Ndlovu is an award winning central banker and economist. An author of more than 20 books on finance and economics inclusive of    a book entitled Trimetallism which argues for the usage of gold, platinum and silver as currencies in Zimbabwe.
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