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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Vietnam Seeks Dong Stability as Dollar Nears Collapse

    Neno
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    Vietnam Seeks Dong Stability as Dollar Nears Collapse Empty Vietnam Seeks Dong Stability as Dollar Nears Collapse

    Post by Neno Tue 08 Jul 2014, 9:25 pm

    Vietnam Seeks Dong Stability as Dollar Nears Collapse

    July 1, 2014 JC Collins


    Vietnam Seeks Dong Stability as Dollar Nears Collapse Dong-dollars

    The article linked below is very telling of the last days of dollar dominance.  Vietnam itself is now openly expressing its concerns with the increase of “foreign currency loans” within the country.  The State Bank will not bail-out banks that have been dumping grounds for US dollar inflation.  As a top banker in Hanoi has stated:

    “…the State Bank is not equipped to offer support to banks which run into problems with foreign currency liquidity.”


    As the rest of the world moves away from dollar reserves Vietnam finds itself in the precarious situation of either allowing its tremendous economic growth and modernization to be stifled or to restructure its own M1 money supply and strengthen the dong for its own regional economic uses.


    China, by moving away from the US dollar in trade, is forcing other regional countries, like Vietnam, to adjust to the emerging economic realities of a world without dollar hegemony.

    At some point in the very near future Vietnam will support the dong with gold reserves and the Shanghai Gold Exchange will set a new price for the precious metal.  The dong, for its part, will be revalued to support its continued economic growth and integration within the larger Asian economic zone.

    Other interesting quotes from the article:

    “The low dollar interest rate obviously has made dollar loans more attractive.”


    “The director of a major bank in Hanoi said he received a report indicating that the foreign currency loans of the whole banking system in the first half of 2014 surged by 10 percent over the end of 2013, but that the mobilized capital growth rate was negative during the same time.”


    “The State Bank has admitted to high risks for the national economy when businesses continue to prefer foreign currency loans.”


    The full article can be read at:

    Time Bomb Laid in Foreign Currency Market
    Also see from philosophyofmetrics:

    Why the Vietnamese Dong Will Reset


    The American Dollar is Dumping Vietnam


    The New Exchange Rate System


    SDR Supplemental: VND or VNN? IQD or IQN?

    http://philosophyofmetrics.com/2014/07/01/vietnam-seeks-dong-stability-as-dollar-nears-collapse/

      Current date/time is Sat 22 Jun 2024, 12:55 am