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Vietnamese Dong DE-Valued another 8.5%

ScottF

By ScottF,
in Foreign Currencies

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vern Newbie

vern

Posted
Posted

I apologize in advance for posting this in the Dinar news section, but didn't see another likely spot for it and thought those involved would want to know.

Central Bank of Vietnam today announced another DEvaluation of the Dong by yet another 8.5%. sad.gif

Here is the Link: http://www.vietfinancenews.com/

[/quo---------------------- Thankyou Sir- I will wait- It will RV - when the IMF starts to change things this will also RV- There is supposed to be 145 countries RV at the same time. What these countries will be i dont know as pf yet. When i find out i will let all here know. What the do with it will be up to them. Howeve i will be in. Because of the trade. I have heard that the embargos are also to be dropped. If it is true i can see it work. Until then we wait. Thanks again..-----Vern

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Dogmatic1 Newbie

Dogmatic1

Posted
Posted

I apologize in advance for posting this in the Dinar news section, but didn't see another likely spot for it and thought those involved would want to know.

Central Bank of Vietnam today announced another DEvaluation of the Dong by yet another 8.5%. sad.gif

Here is the Link: http://www.vietfinancenews.com/

Oh great, you had to find this article...I know the devil's advocate will show up on this post with his little snarled face grin... 36_1_16.gif

Let's see how long it takes him........

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Dogmatic1 Newbie

Dogmatic1

Posted
Posted

Just curious, who are you referring to as the "Devil's Advocate?"

Don't worry, he will show up with his infamous little laugh....hahahahaha

P.S. Here's a hint; if you read the other dong post that was circulating the forums today, you'll know who I'm talking about!

Don't believe anything about Asia! The Dong, the Wan, the Yuan. There is no way Asia can ever make any serious money. Just ask keepm! He is not only an expert on IQD, but he also knows about far east currencies. laugh.giflaugh.gif You know I am joking keepm. It's what I do. laugh.gif

There's another hint! 36_1_70.gif

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20MillionDinar Newbie

20MillionDinar

Posted
Posted (edited)

I don't really post much but I read quite a bit. I personally would rather read the few posts that Keep posts (and a select few other individuals) instead of all the B.S. that gets thrown around in this forum because they keep it real. He is grounded, and tends to keep his emotions out of it. It is not wise to let your emotions take control especially when you are dealing with money. I am not in this investment for entertainment purposes nor am I a sheep. I look at something from all angles, weigh the risk vs. reward / pros & cons, do my research, then make a decision from there.

If I'm not mistaken the Dong has been De-valued multiple times throughout history and right now doesn't look too attractive. Fact is, you buy 1 mil Dong from DT it will cost you $120 + shipping. That is more than double the value of the actual currency! Unbelievable... 1 Million Dong = $51 (I know you can buy 1 Mil Dong from a bank for close to $70 or so but that is still a 30% premium) The dealers will do anything and everything in their power to up their sales even if it means not telling the whole truth. They are in the business of making money. Remember, decisions are based 80% off of energy and only 20% off of logic and reasoning. Facts tell, stories sell. In the end, we all are responsible for making our own decisions, the Dong is just not an investment I plan on parking my cash in for the time being. Plenty of other places to leverage my money at this time.

***Just my honest opinions***

(Dogmatic, just to be clear this was in no way whatsoever directed to you, just felt like posting what was on my mind. You Staff do a great job in here and I give you props)

Edited by 20MillionDinar
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Dogmatic1 Newbie

Dogmatic1

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Posted

(Dogmatic, just to be clear this was in no way whatsoever directed to you, just felt like posting what was on my mind. You Staff do a great job in here and I give you props)

And, I did not take it that way, either. Everbody has their own opinion and should be respected for it. You are right about the dealers (especially DT, what is up with that price? - I noticed it sometime ago). You are right about the dong de-valuing several times. I still think the asian currencies are worth looking into (outside of the Chinese yuan). I won't bet the house on the dong, but I'll invest chump change - ya never know - when that 20-1 horse is gonna come in first!

By the way, I'm just teasin' about Keep. I like the little snot, too!

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20MillionDinar Newbie

20MillionDinar

Posted
Posted

(Dogmatic, just to be clear this was in no way whatsoever directed to you, just felt like posting what was on my mind. You Staff do a great job in here and I give you props)

And, I did not take it that way, either. Everbody has their own opinion and should be respected for it. You are right about the dealers (especially DT, what is up with that price? - I noticed it sometime ago). You are right about the dong de-valuing several times. I still think the asian currencies are worth looking into (outside of the Chinese yuan). I won't bet the house on the dong, but I'll invest chump change - ya never know - when that 20-1 horse is gonna come in first!

By the way, I'm just teasin' about Keep. I like the little snot, too!

Ok great! smile.gif DT is just a "little" steep.... lol Who knows, maybe in the near future I'll get a couple million Dong and just wait it out. Couldn't hurt too much when you consider the fact that our government has a 24 hour printing press running deteriorating the purchasing power of the U.S. dollar every day... Good to spread our funds into different investment vehicles. I haven't done extensive research on the Dong so I probably shouldn't say it is good or bad at this time...

I'm glad my post didn't offend, sometimes it is hard to get the right message across through text.

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Dogmatic1 Newbie

Dogmatic1

Posted
Posted

I may be wrong, but I have read that Viet Nam is the #1 producer of rubber. Am I stupid or just drunk? I know, I am both. Anyways, is Viet Nam a major rubber(not contraceptive) producer?

I read they are #4 behind Thailand, Indonesia and Malaysia. The Asia-Pacific countries are the major rubber producing countries. I read they would be moving up to the 3 rd spot by 2015.

By the way, you are neither stupid or drunk (well, at least, I don't think you're drunk) tongue.gif

Here's a few links of interest;

http://seekingalpha.com/article/228275-analyzing-the-positive-spike-in-japan-s-rubber-sector

http://rubberasia.com/v2/index.php?option=com_content&view=article&id=301:co-ltd-is-10-years-old-this-young-and-vibrant-manufacturer-of-world-class-rubber-machinery-headquartered-in-qingdao-china-completed-ten-glorious-years-of-its-existence-on-september-17-2010-an-important-milestone-in-its-unstoppable-success-journe&catid=5:best-from-rubber-asia

http://en.wikipedia.org/wiki/Economy_of_Vietnam

http://www.nationsencyclopedia.com/economies/Asia-and-the-Pacific/Vietnam.html

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Dogmatic1 Newbie

Dogmatic1

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Posted

Couldn't hurt too much when you consider the fact that our government has a 24 hour printing press running deteriorating the purchasing power of the U.S. dollar every day...

Yup! So true! Interesting you should bring this up...all the talk about the dollar and other currencies (IQD, specifically) being backed by gold! I thought for the dollar, it's gotta be hogwash, how could we afford to go back to that standard?. But, think about this, they have been around for several years, now, but remember the "Cash for Gold Companies"?. It makes me wonder if our own government is behind that little brainchild. Buying gold at a fraction for what it sells for. Hmmm, I dunno? Interesting though.

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Dogmatic1 Newbie

Dogmatic1

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Did someone ring?!?!?! HERE I AM!!!! laugh.giflaugh.giflaugh.gif Hahaha I dont even need to say anything.....

Got to love him!....he's made his entrance in no less than.... 2 hours and 10 minutes!

You are so right, you don't need to say a thing! Thanks for making an appearance! Geesh! If the dang dong would have rv'd, I would have had a nice bottle of whatever you drink waitin' on ya!

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keepmwlknfny Newbie

keepmwlknfny

Posted
Posted

Got to love him!....he's made his entrance in no less than.... 2 hours and 10 minutes!

You are so right, you don't need to say a thing! Thanks for making an appearance! Geesh! If the dang dong would have rv'd, I would have had a nice bottle of whatever you drink waitin' on ya!

LOL I didnt mean for this to happen!! Sheesh!! I was just given ya a hard time about it hahaha......didnt know they would go ahead and act on it again!!! Let me see if reverse psychology will work.........ummmm....the dong is great....good investment....should revalue soon...... :lol:

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Dogmatic1 Newbie

Dogmatic1

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LOL I didnt mean for this to happen!! Sheesh!! I was just given ya a hard time about it hahaha......didnt know they would go ahead and act on it again!!! Let me see if reverse psychology will work.........ummmm....the dong is great....good investment....should revalue soon...... laugh.gif

yeah, yeah, yeah.....humor us some more, why don't ya! 36_11_21.gif

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VIZIOIRAQI Newbie

VIZIOIRAQI

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Posted

I don't know about you guy's , but this is actually a good thing.

This is also a good move to keep the currency stable for quite some time and I think the currency now will be stable because both monetary and fiscal policies have been kept tight.

“The central bank now is adopting a crawling peg policy -- a technical economic name for managing the foreign-exchange rate in a very flexible manner in respond to market conditions . It means that the market and investors can expect more frequent, more flexible currency-adjustment policies.”

There currency can now float up as things get better, and they will in the future!wink.gif

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Dogmatic1 Newbie

Dogmatic1

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Posted

I don't know about you guy's , but this is actually a good thing.

This is also a good move to keep the currency stable for quite some time and I think the currency now will be stable because both monetary and fiscal policies have been kept tight.

“The central bank now is adopting a crawling peg policy -- a technical economic name for managing the foreign-exchange rate in a very flexible manner in respond to market conditions . It means that the market and investors can expect more frequent, more flexible currency-adjustment policies.”

There currency can now float up as things get better, and they will in the future!wink.gif

Wow! Vizio! You are the newshound! Thank you for that!

LOL I didnt mean for this to happen!! Sheesh!! I was just given ya a hard time about it hahaha......didnt know they would go ahead and act on it again!!! Let me see if reverse psychology will work.........ummmm....the dong is great....good investment....should revalue soon...... laugh.gif

Yeah, my cajoling must have worked! Even though he's being facetious, he's at least putting up an optimistic front. Thank you for that, Keepm!

18_1_37.gif

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slappenu Newbie

slappenu

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Posted

Ok people go look at the open close values today....It opened at 20700 yeah somethings up...closed at 19450...normal.....NO DEVALUE FLUCTUATION with the USD. Go look at forex and for you they guy who said I told you so...Go do some more homework on the subject of vietnam and their value. Go read about their factories, their CHEAP labor, their oil production before you tell VERN that Vietnam has nothing. Seriously should I post some links for you to read

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