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Terry K On Vietnamese Dong - via drecaps

DinarThug

By DinarThug,
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DinarThug Newbie

DinarThug

Posted
Posted

CNN. Broadcasting While Cheering On Terry K ! U Go Girl .......

Terry K On Vietnamese Dong - Post By Mangiabuona2 GET Chat

11/09/2012

7:57 PM [mangiabuona2] CHAT November 9, 2012 7:15pm est

[TERYK] hey all IS THIS BETTER All, While everyone keeps eyes fixed on Iraq we have been following things in Vietnam. I think we can use Vietnam as a real RV gage.

One main reason is we don't see misleading and untruthful information coming out unlike what we see from Iraq. So here goes what we see at this time:

1. We know they are to re-value as part of five basket currencies.

2. Sent articles describing all of their natural resources and why they can support $1.00 and up to $2.00 in a revaluation.

3. They have settled with France on a rate for repayment

. 4. The IMF & WTO have spent weeks in Saigon with The State Bank of Vietnam preparing them for full membership in 2013

...

5. It has been circulating the IMF has given them green light to go ahead with RV.

6. Read all articles below. They have been getting their economy and banking systems lined up and ready.

7. They've been doing big business with Russia, Israel, China and France.

8. Their government is very stable.

Now for other things:

1. The State Bank of Vietnam website has been down all morning. This has never happened before.

2. The VND technical pages have been down off and on all week. When they go down it stays down for hours.

3. Trading has been frozen at least three days this week on both FX And Netdania. Right now Netdania is showing 0 change for past 12 hours. Same for IDR.

4. Wednesday night .76 showed up on Todd's screen for one hour.

5. Others have seen rates pop up this week as seen on recaps. So, maybe we might see them go first ahead of the Dinar by a few days. Just pondering.

Please see if you can dig up anything that might lead us as to when. I believe looking at Iraq will not give us as good of clues. Somewhere there is something that will tell us when.

7:59 PM [TERRYK] THERE I SPILL SOME WHERE IS EVERYONE WOW THIS IS THE SECOND TIME THIS HAS HAPPENED TO ME IN 3 YEARS SITTING HERE TALKING TO MYSELF

[irkaola] Terry hi

[TERRYK] HEY IRKAOLA OK HERE IS THE REAL MEAT FOR TODAY : Asian economies turn to yuan

A "renminbi bloc" has been formed in East Asia, as nations in the region abandon the US dollar and peg their currency to the Chinese yuan — a major signal of China's successful bid to internationalize its currency, a research report has said.

The Peterson Institute for International Economics, or PIIE, said in its latest research that China has moved closer to its long-term goal for the renminbi to become a global reserve currency.

Since the global financial crisis, the report said, more and more nations, especially emerging economies, see the yuan as the main reference currency when setting their exchange rate.

And now seven out of 10 economies in the region — including South Korea, Indonesia, Malaysia, Singapore and Thailand — track the renminbi more closely than they do the US dollar.

Only three economies in the group — Hong Kong, Vietnam, and Mongolia — still have currencies following the dollar more closely than the renminbi, said the report, posted on the institute's website.

[TERRYK] The South Korean won, for example, has appreciated in sync with the renminbi against the dollar since mid-2010. http://www.chinadaily.co ··· 0495.htm

[TERRYK] HEY THANKS GOOD STUFF

[nano36] Yes, it is - hope someone of them RV soon

[TERRYK] HEARING THE DONG MAY GO AS SOON AS THIS WEEKEND

[DISHMAN] Man oh man that would be awesome Same rate tk on the dong

[Gullwing] great news , thanks !!

[TERRYK] BE BACK IN A FEW

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jeepguy Mentor

jeepguy

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hahahhahaha :blink: wait a second ,,, :lol: 1 too 2 on the v, n, d , :o even .76 would be out of line ------ when i put into this part of currency i`m only looking for ti too get ------> at best .10 and that is a reach ----- i would fall over if it made .15 too .20 ------ and too top it all off if i have choosen right on all three economies ;):) i guess thanks for the info :blink:

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krome2ez Newbie

krome2ez

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hahahhahaha :blink: wait a second ,,, :lol: 1 too 2 on the v, n, d , :o even .76 would be out of line ------ when i put into this part of currency i`m only looking for ti too get ------> at best .10 and that is a reach ----- i would fall over if it made .15 too .20 ------ and too top it all off if i have choosen right on all three economies ;):) i guess thanks for the info :blink:

I agree. No way going to a $1, let alone $2.

A revalue to a nickel would be great.

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Captjohn Newbie

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hahahhahaha :blink: wait a second ,,, :lol: 1 too 2 on the v, n, d , :o even .76 would be out of line ------ when i put into this part of currency i`m only looking for ti too get ------> at best .10 and that is a reach ----- i would fall over if it made .15 too .20 ------ and too top it all off if i have choosen right on all three economies ;):) i guess thanks for the info :blink:

Jeepguy, even .10 would be a home run as we have been conditioned over the past several years to believe that .02 to .05 on the dong is the best we could expect.

Also, please, please understand that the word is spelled "to" as in 1 to 2 on the VND, or "and to top it all off" If you want to use "too" use it like, "it's too expensive", or "too much to expect". Sorry, I have been reading your posts for a long time and I just had to say something. Hope you will find this helpful not critical. Who among us is perfect afterall.

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umbertino Grand Master

umbertino

Posted
Posted (edited)

Quote

Terry K On Vietnamese Dong - via drecaps I SWEAR THAT I DIDN"T MAKE UP THAT HEADLINE !

End Quote

lol.

Quote

[mangiabuona2]

End Quote

Means "eat good" in Italian......

Don't have a clue who these people are but sure sounds good to me! :bravo:

Go VND!

TerryK is kinda (in) famous in Dinar Forums......

Edited by umbertino
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LIBoy Newbie

LIBoy

Posted
Posted

CNN. Broadcasting While Cheering On Terry K ! U Go Girl .......

Terry K On Vietnamese Dong - Post By Mangiabuona2 GET Chat

11/09/2012

7:57 PM [mangiabuona2] CHAT November 9, 2012 7:15pm est

[TERYK] hey all IS THIS BETTER All, While everyone keeps eyes fixed on Iraq we have been following things in Vietnam. I think we can use Vietnam as a real RV gage.

One main reason is we don't see misleading and untruthful information coming out unlike what we see from Iraq. So here goes what we see at this time:

1. We know they are to re-value as part of five basket currencies.

2. Sent articles describing all of their natural resources and why they can support $1.00 and up to $2.00 in a revaluation.

3. They have settled with France on a rate for repayment

. 4. The IMF & WTO have spent weeks in Saigon with The State Bank of Vietnam preparing them for full membership in 2013

...

5. It has been circulating the IMF has given them green light to go ahead with RV.

6. Read all articles below. They have been getting their economy and banking systems lined up and ready.

7. They've been doing big business with Russia, Israel, China and France.

8. Their government is very stable.

Now for other things:

1. The State Bank of Vietnam website has been down all morning. This has never happened before.

2. The VND technical pages have been down off and on all week. When they go down it stays down for hours.

3. Trading has been frozen at least three days this week on both FX And Netdania. Right now Netdania is showing 0 change for past 12 hours. Same for IDR.

4. Wednesday night .76 showed up on Todd's screen for one hour.

5. Others have seen rates pop up this week as seen on recaps. So, maybe we might see them go first ahead of the Dinar by a few days. Just pondering.

Please see if you can dig up anything that might lead us as to when. I believe looking at Iraq will not give us as good of clues. Somewhere there is something that will tell us when.

7:59 PM [TERRYK] THERE I SPILL SOME WHERE IS EVERYONE WOW THIS IS THE SECOND TIME THIS HAS HAPPENED TO ME IN 3 YEARS SITTING HERE TALKING TO MYSELF

[irkaola] Terry hi

[TERRYK] HEY IRKAOLA OK HERE IS THE REAL MEAT FOR TODAY : Asian economies turn to yuan

A "renminbi bloc" has been formed in East Asia, as nations in the region abandon the US dollar and peg their currency to the Chinese yuan — a major signal of China's successful bid to internationalize its currency, a research report has said.

The Peterson Institute for International Economics, or PIIE, said in its latest research that China has moved closer to its long-term goal for the renminbi to become a global reserve currency.

Since the global financial crisis, the report said, more and more nations, especially emerging economies, see the yuan as the main reference currency when setting their exchange rate.

And now seven out of 10 economies in the region — including South Korea, Indonesia, Malaysia, Singapore and Thailand — track the renminbi more closely than they do the US dollar.

Only three economies in the group — Hong Kong, Vietnam, and Mongolia — still have currencies following the dollar more closely than the renminbi, said the report, posted on the institute's website.

[TERRYK] The South Korean won, for example, has appreciated in sync with the renminbi against the dollar since mid-2010. http://www.chinadaily.co ··· 0495.htm

[TERRYK] HEY THANKS GOOD STUFF

[nano36] Yes, it is - hope someone of them RV soon

[TERRYK] HEARING THE DONG MAY GO AS SOON AS THIS WEEKEND

[DISHMAN] Man oh man that would be awesome Same rate tk on the dong

[Gullwing] great news , thanks !!

[TERRYK] BE BACK IN A FEW

I guess the currency dealer Terry K works for has excessive Dong. :o

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jeepguy Mentor

jeepguy

Posted
Posted

Jeepguy, even .10 would be a home run as we have been conditioned over the past several years to believe that .02 to .05 on the dong is the best we could expect.

Also, please, please understand that the word is spelled "to" as in 1 to 2 on the VND, or "and to top it all off" If you want to use "too" use it like, "it's too expensive", or "too much to expect". Sorry, I have been reading your posts for a long time and I just had to say something. Hope you will find this helpful not critical. Who among us is perfect afterall.

hahhahahaha wow !!!!! captain ,,,, i will use the above like this -------> mister i.r.s. guy i have wayyyyyy toooooooooooooo much money what can i do tooooooo get rid of some :lol::lol: no -worries buddy ;) i am usually up at 4 a.m. morings in a hurry { to , or too or two } get to work ,,, and just getting tired at the later evening postings ,, and i also note that my { it is usually ti } and { my ands are sometimes nads } i think i have a dislexia sometimes ,,,, so i`ll just have tooooooo go with toooooo`s ------ hope everyone is haveing a great weekend ------- 70 degrees as of right now in the kentucky area -- change is a coming :o

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DinarThug Newbie

DinarThug

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This Chat By Terry K Has Been Removed "By Request" From The Site That I Brought It Over From Last Nite -

Without An Explanation For The Request ! :blink:

However, They've Since Posted A Few More Articles On The VND. Rather Than Start A New Thread, I'll Just Post 1 Of The Articles Here.

Btw, I Swear That I didn't Make Up The Name Of The General Director Of Eximbank Vietnam In The Following Article ....... :o

9545821.jpg?323

Vietnam needs to make sacrifice for exchange rate stabilization

VietNamNet Bridge – The heavy fluctuations of the exchange rate would badly affect the national payment balance. Experts say if Vietnam has to choose one of the two – the gold price stabilization and exchange rate stabilization – it would have to sacrifice the gold price in exchange for the stabilized dong.

At 3 pm of November 7, the world gold price reportedly stood at 1,725 dollars per ounce, or 43.40 million dong per tael. Meanwhile, Vietnamese SJC brand gold reportedly climbed to 47.06 million dong per tael. The big gap of 3.7 million dong per tael between the domestic and the world gold prices has been existing for a long time.

However, the State Bank of Vietnam has affirmed that despite the big price gap, this has not had big impacts on the dong/dollar exchange rate with the dollar price stabilized at 20,880 dong per dollar over the last few months.

According to Truong Van Phuoc, General Director of Eximbank Vietnam, policy makers have to choose either the gold price or the exchange rate stabilization, and one of the two needs to be sacrificed for the other.

...

Phuoc believes that the State Bank of Vietnam has done very well in stabilizing the exchange rate so far.

“If the exchange rate fluctuates too heavily, this would have negative impacts on the national payment balance and the trade balance,” Phuoc said. “It would be very good if the gold price can be stabilized. However, if both the goals are unattainable, the central bank needs to prioritize the stabilization of the exchange rate.”

Regarding the central bank’s decision to choose SJC as the national gold brand, Phuoc said that the bank does not mean to create the enterprise monopoly. In fact, SJC products have been dominating the domestic market with 90-95 percent of market share.

The State Bank chooses SJC for the national gold brand because it aims to control the gold stamping machine, while striving to prevent the illegal gold import which once put a hard pressure on the exchange rate.

Nevertheless, Phuoc has pointed out that the central bank has not done well in explaining its policy to the public. The information that SJC becomes the national gold brand has led to the misunderstanding that non-SJC gold would be refused.

As a result, people rushed to sell non-SJC gold to buy SJC brand bullion gold for hoarding, thus causing a chaos on the market, while creating artificial SJC brand gold demand.

Director of a gold trade company in HCM City has agreed that the State Bank has done well in stabilizing the exchange rate.

In the past, the big gap between the domestic and the world gold prices would prompt speculators to collect dollars on the black market to import gold illegally for domestic sale for profit.

However, the director said, though the domestic price is much higher than the international price, the illegal import and the dong depreciation have not occurred.

Nguyen Hoang Minh, Deputy Director of the HCM City Branch of the State Bank of Vietnam, said in the immediate time, the central bank does not intend to intervene in the gold price by selling gold at low prices to force the prices down.

The State Bank has also vowed to take necessary measures to fight against the so called “goldenization.” Banks have been told not to accept gold deposits, while people would sell gold instead of depositing to make profit.

US$1 = VND21,000

http://english.vietnamnet.vn/fms/business/52200/vietnam-needs-to-make-sacrifice-for-exchange-rate-stabilization.html

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