Will the Vietnamese Dong be Revalued Soon? In fact, the Japanese Yen has gotten stronger. This approach would require a lot less gold. To put it simply, the demand for dollars to trade in what is the biggest commodity in the world has served to prop up the dollar despite all the fiscal and monetary abuse that has been heaped upon it. Its like shopping for a house cat, but buying a tiger instead, and then finding out you are allergic to cats. Between the steep cost to obtain them, difficulty to recoup your US dollars, and extreme unlikelihood they will ever revalue at a level manipulated media suggest, I think its safe to say the dinar and dong dont belong in your portfolio since they wont help you retire early or provide your family with great wealth. FactSet (a) does not make any express or implied warranties of any kind regarding the data, including, without limitation, any warranty of merchantability or fitness for a particular purpose or use; and (b) shall not be liable for any errors, incompleteness, interruption or delay, action taken in reliance on any data, or for any damages resulting therefrom. (Trade between the Russian Federation and the BRICS countries increased by 38 per cent to reach $45 billion in the first three months of 2022.). I expect, at the very least, an alternative trading currency to emerge and compete with the dollar. 05 2021. Another source, who chooses to remain anonymous, painted a vivid picture to keep in mind as you probe the depths of this scam. ", But the central bank agreed to "improve exchange rate flexibility over time," allowing the dong to move in line with the development of the country's markets and economic fundamentals, and to further modernize and make more transparent its monetary policy and exchange rate framework. After the fall of Saigon, the currency in the And of course, the currencies could be backed by a basket of commodities it doesnt have to be gold. Join us in creating opportunities and sharing ideas to all. Cash, as Ray Dalio and others haver said, is in some ways the riskiest investment. Third, countries will want to preserve their wealth as they transition to the new system. Yet, as you already know, if it sounds too good to be trueinvestors should run like heck. Could a 1 to 1 value ever actually exist? This type of regime is standard for most major economies. It is not worthless. Divide by 1,000 and it has been trading around 20 to 23 per USD for many years. Which is how many Vietnamese handle the traili The best way is to have a well diversified portfolio of global stocks and bonds, which is well placed for any economic situation. This led to the formation of global organizations such as the International Monetary Fund and the GATT, which later became the World Trade Organization. Rapid Updates: Will Vietnams Currency Need a Monetary Reset? While Americans have been binging on digital currencies, global central banks have been on a gold-buying spree. Chinese President Xi Jinping has been criticizing the use of sanctions, especially with respect to weaponizing the dollar and warning of its consequences to the west. NESARA / GESARA - Global currency reset (Iraqi Dinar - Vietnam Dong) Pimpys Investment Chat: July 3, 2020. Share ideas and opportunities to the most underprivileged Asians; share ebooks and other publications that will allow them to embrace digital entrepreneurship HERE. In addition to these four factors, large-scale events that impact the overall economy, its competitiveness and profitability, can also alter the value of a currency. Other reserve currencies like the yen and euro have been abused as badly or worse than the dollar, so they dont offer much of an alternative. Vietnamese currency forecast to strengthen against US dollar in 2021 Since July 2021, the Vietnamese dong has strengthened by 1.3 per cent against the US dollar and the unit has averaged VND23,930 per US dollar in the year-to-October. It might be worthwhile to talk to a tax advisor about selling the currency back and writing off the loss. This conspiracy theory has become big business as many people have made money selling several different types of goods that are associated with the belief that the dollar will collapse instantly any minute. I would be looking for when there is a major uplift in the Vietnamese economy and the entire nation moves to middle class like around 2024 to 2034 I often get calls asking about the Iraqi dinar. Also, there are many factors in play that affect exchange rates and a currencys value, such as a countrys economic performance, the prospect of inflation, capital flows, and plenty of others. Change value during the period between open outcry settle and the commencement of the next day's trading is calculated as the difference between the last trade and the prior day's settle. This happens because higher interest rates attract more foreign capital, causing a rise in the exchange rates. Stocks are just more volatile than holding cash, which is why holding bonds in conjunction with stock indexes makes sense. I have found that most economists are wrong about pretty much everything. A great idea, as long as the U.S. kept its gold and was fiscally responsible. Emerging market currencies have collapsed, and G10 small currencies are also under pressure everywhere. This belief is that it was accepted by the minority. Today, all major currencies are traded on the world market. All currencies are said to be revalued based on the countrys assets. At the same time, there are signs the Petrodollar system is cracking. Rapid UpdatesOct 15, 2021 Vietnam economy is about to struggling to reopen. Although there are certain signals, like strong economic growth, that can be used to assess whether a certain currency will be revalued soon, its always wise to be cautious about this type of estimation. Cryptocurrencies: Cryptocurrency quotes are updated in real-time. Lets review some of its common causes: These changes are an important factor that impacts the value of any given currency. They last reported in 2019 at 1,950 tons. While World War II was still going on, leaders from around the world decided to create a new global monetary system. Recently, an analyst from Russian bank VEB.RF suggested that Russia should create a gold-backed stablecoin under the working title golden ruble. According to their research, Western countries will have no opportunity to block settlement operations carried out in such a currency, since its exchange rate would be pegged to the gold rate on the world market, not to the dollar, the euro or, for that matter, the fiat ruble itself. All of these factors have reassured Vietnam officials to target a GDP growth of 6 percent. At the time, this was the result of only superficial research. However, this can result in some functions no longer being available. Copyright FactSet Research Systems Inc. All rights reserved. Couple those changes with the frequent weaponization of the U.S. dollar through sanctions and the SWIFT system, and you can see why certain countries have been desperately looking for U.S. dollar alternatives. Liquidity Assistance: SNB acts as Lender of Last Resort (LoLR). It only represents two per cent of global foreign exchange reserves. The Vietnamese dong (VND) is the official currency of Vietnam. Global trade relationships are evolving as well. Russia, which has spent the better part of the last decade getting rid of its U.S. dollars and increasing its gold reserves, also offered to buy gold (mostly from its captive gold-mining sector) at the rate of 5,000 rubles per gram. The countrys officials decided to replace the cotton notes that were used until then with plastic polymer ones to combat counterfeiters. Read the Full Declaration and Privacy Policy Here. Our advertising, sponsored posts and advertorial rates are in US Dollars. Experience Our Industry-Best Customer Service Live Help Create Account Login 800.800.1865 1-800-800-1865(Mon-Sat) Online 24/7 Gold: $1,998.00-3.25| Silver: Recently, the US has also maintained its currencys value by ensuring that a significant portion of the worlds financial contracts are denominated in US dollars, including OPEC oil production. Fundamental company data and analyst estimates provided by FactSet. Again, laws of supply and demand say that dramatically increasing the supply of something will drive down its inherent value. Buildrite Construction Chemicals Launched First in the Philippines Products at PhilConstruct What a Cryptocurrency Price Tracker Can Tell You. Its domestic production alone accounts for 7,000 tons over the past 20 years. The best way to prepare for a currency reset isnt to try to predict the future. This belief system has many converts and is iconic in nature. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. For 400 years, global reserve currencies have come and gone. In the joint statement, Vietnam confirmed its commitment under International Monetary Fund rules "to avoid manipulating its exchange rate in order to prevent effective balance of payments adjustment or to gain an unfair competitive advantage and will refrain from any competitive devaluation of the Vietnamese dong. Forecasting the value of any given currency is a challenging task that often results in unreliable predictions. A variety of factors can trigger currency revaluation. Particular attention is paid to the Swiss banking industry and financial market infrastructure. But bad predictions werent limited to exotic currencies only. In short, the U.S. dollar feels like a lame-duck currency. Saudi Arabia is making noises about selling oil to China in yuan and is squarely siding with Russia over OPEC oil supplies, despite pleading from the Biden administration to increase production. Initially, I just dismissed the questions and put-off the requests, informing clients and other investors that we dont employ or recommend currency-based strategies. (Kitco News) - A global monetary reset is inevitable, as fiat currencies are being debased due to excessive money printing.The U.S. dollar will be It must be something tangible, which is why I dont include bitcoin, which China has already banned and didnt provide Russia any tangible escape route to avoid sanctions. Searching for Lost Shares? On top of all that, try finding someone to sell that currency to in order to recapture your USD. ______________________________________________________ If you wish to contact the author of any reader submitted guest post, you can give us an email atUniversalOm432Hz@gmail.comand well forward your request to the author.______________________________________________________ All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes. Since then, inflation has been close to 0%, gold has barely moved (in fact it has fallen in real terms compared to its 2011 price) and the USD has gotten stronger. Right off the bat, then, theres a discrepancy representing a more than a 20% decrease in value. This time, compared with the 2008 financial crisis, treatment involves a much larger distribution of money and much less quantitative easing. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Learn what Copyright 2011 | NEGOSENTRO.COM | All Rights Reserved. All contributions, guest posts, and sponsored posts will be deemed owned by the publication and its owner/s. My guess is it would try to resist and discredit it at first. With the Vietnamese currency recently trading on the stronger side, DBS now expects it to make gains to 22,870 dong (S$1.36) against the US dollar as at end-2021, up from the house forecast of 23,070 dong previously. Negosentro is very much open to accept article contributions on entrepreneurship, tech, lifestyle, travel, health and resources on a broad sense. Historical Prices for Vietnamese Dong. The standard definition would be a return to a global monetary system that all countries would agree to. Interestingly, during the initial deleveraging, the US dollar began to decline against the Japanese yen and the euro, but later arranged a broad and powerful rise, similar to what we saw at the worst stage of the 2008-2009 crisis. Realizing that these currencies are illiquid, thinly traded and much easier to buy than sell is just the first step in debunking them as viable investment options. Biggest holder of gold in the world, trying to unhinge the US, seeking to position the Yuan as the worlds reserve currency. No. There is never going to be a revaluation. Currencies never multiply in value overnight. That is just internet lies to sell you crap. Speculat It influences its strength as its associated with a change in the markets stability. The agreement, announced in a joint statement by Treasury Secretary Janet Yellen and State Bank of Vietnam Governor Nguyen Thi Hong after a virtual meeting on Monday, follows months of U.S. pressure on Vietnam over its currency practices and ballooning U.S. trade surplus. The coronavirus crisis is very different from the 2008 global financial crisis: instead of a relatively weak US dollar and overheated liquidity, there is a strong dollar and low liquidity in the foreign exchange market. (Currently we do not use targeting or targeting cookies. Predictions regarding the Iraqi dinar are a good example. If there is no trust, then you have no money. Set rate alerts for VND to USD and learn more about 3. We have laid out our Privacy Policy and our Terms & Conditions in using this site. On Fri. 18 Sept. countries throughout Europe went into lockdown, closing their Central Banks and the non-retail side of major banks. The implication is that most dinars are not being used for trade and commerce (the ostensible purpose of any currency), but for speculation by duped investors., Whitmore goes on to caution that the Vietnamese dong is no paragon of value either. Nov 12, 2021. Economic behemoths such as India and Brazil and much of the Global South are not taking sides, many wanting to maintain good trading relations with Russia. Click this link to read more about Adam Fayed-. Negosentro is open to advertisers. Today, its the Iraqi dinar scams that are overflooding the market. In such regimes, the official value of the currency can be altered only via a decision by the countrys government. It also pays to diversify your portfolio and prepare for different possible events, however unlikely. Some believe that there will be a completely different monetary system. The world has changed a lot since 1971. Another conspiracy theory says the 16th Amendment was never ratified. On the other hand, countries prone to political turmoil are more likely to see depreciation in their currencys exchange rates. Advertising: Tailor information and advertising to your interests based on e.g. They are optimistic because the countrys exports increased rapidly, making a higher trade surplus. Starting a Successful Real Estate Business 101. Why will the world never be the same again after coronavirus? It is implied that most of Congress was against this law and therefore it was passed in secret. A reassuring note in a climate of fear: As long-term investors know, crises are points of maximum opportunity for those with money in hand. The reason for this was that at that time the United States owned most of the worlds gold reserves. The currency code Data are provided 'as is' for informational purposes only and are not intended for trading purposes. Huge currency depreciations, and massive inflation, usually happen when people are worried about the government in power. Chinas emergence as a global economic power rivalling the U.S. (and the rise of BRIC countries in general), Americas profligacy, its fiscal and monetary irresponsibility (especially after the 2008 crisis), the fact at that central banks credibility has been laid to waste and now the end of the globalization experiment, to name a few. As economist Jim Rickards explained it to me recently, a currency doesnt have to be fully backed by gold. As you may already guess, in this article we will talk about the possible global currency reset, how to prepare for it or which currencies or banks are the most stable. To order copies of The phrase Global Currency Reset has several meanings. History also suggests buying dinars and dongs is not an effective buy-and-hold strategy either. There has been a lot of talk in hard money circles about a supposedly coming Great Reset.. 2,020 VND to USD Dongs to US Dollars How much is 2,020.00 the two thousand twenty dongs is worth $0.0856 (USD) today or Zero us dollars 9 cents as of 03:00AM UTC. The US dollar was the currency that countries used to support their currencies under this agreement. The allied countries of the world agreed on a fixed exchange rate that was kind of based on the global gold standard. Vietnam is a growing source of U.S. imports of furniture, electronics, computers and apparel. Many currencies will change in value or revalue once this event happens. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. The reasons for the demise of reserve currencies are repeated over and over. View All companies. The Central Banks of England, Spain, Holland and Germany would remain closed for two weeks. Many central banks still have the dollar in their reserves, and today it is in high demand. Want to invest with Adam? Measures to identify and assess systemically important institutions, Establishing loss absorption instruments to enhance the resilience of the institutions concerned and ensure adequate capital in the event of liquidation, Stricter oversight on governance, risk resilience and stress tests, Effective liquidation mechanisms to systematically liquidate banks. presentation-ready copies of Toronto Star content for distribution Many of the scam artists out there are smart enough never to break any law, which means theyre in a position to dupe people indefinitely.. Physical gold is moving from west to east.
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