All As part of his job, this anonymous source previously provided biased information that encourages people to invest in the dinar. The problem with this theory is that there are major obstacles to overcome. On top of all that, try finding someone to sell that currency to in order to recapture your USD. A great global monetary system reset is coming | The Star The Vietnamese dong (VND) is the official currency of Vietnam. Indeed a 20%-40% depreciation would only bring the USD back to where it was back in 2006-2008! So, whilst the USD might be safer than most major currencies, it has never came close to beating the US Stock Market despite the volatility of the later. All quotes delayed a minimum of 15 minutes. Countless warnings and blood soaked war stories are prevalent online, but to my surprise investors continue to fall for it, throwing good money at a very bad idea. A financial-economic war was already simmering between the U.S. and China prior to Russias invasion, and China has called for a new international financial order in the past. Theyre usually lured into buying tens of millions in foreign currency in hopes of spectacular wealth, only to be left holding money that isnt worth the paper its printed on. Without credit, the modern economy stops it simply cannot support anything but the smallest industries. It doesnt happen due to debt and QE. The standard definition would be a return to a global monetary system that all countries would agree to. Will the Vietnamese Dong be Revalued Soon? Toronto Star articles, please go to: www.TorontoStarReprints.com, Conversations are opinions of our readers and are subject to the, The Toronto Star and thestar.com, each property of Toronto Star In the aftermath of the global crash of 2008, many assumed that we would return to a different gold standard. Many armchair economists have stated that some countries may even base their monetary values on their resources. Tragically, when global powers lose their dominant reserve status, bloody wars usually follow. While this may not work out for everyone or every situation, its worth trying to save a few tax dollars from the ordeal. By using our website or by closing this message box, you agree to our use of browser capability checks, and to our use of cookies as described in our Cookie Policy. Adam is an internationally recognised author on financial matters, with over 214 million answers views on Quora.com and a widely sold book on Amazon. The official currency of Vietnam is the dong (VND), which is pegged at a value of roughly 23,000 dong to the US dollar. With that being said, we have to remember two other facts, Namely, currencies have never beaten assets like real estate, and especially stocks over time. Internationally, it is permanently represented on the Basel Committee on Banking Supervision and the Committee on Payments and Market Infrastructure (CPMI) of the Bank for International Settlements (BIS) and participates in various international task forces that deal with financial stability issues. How would a gold-backed settlement currency work? All currencies are said to be revalued based on the countrys assets. Admittedly, this is sheer speculation and the eventual outcome is anyones guess. NOT FOR THE LEGAL MARKET. Will there be a global currency reset in 2023? 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 investors will purchase the local currency and increase its demand and appreciation. Vietnamese Dong Forecast | Is VND a Good Investment? Personally, I think were only in the first or second stage of this losing strategy. This time, compared with the 2008 financial crisis, treatment involves a much larger distribution of money and much less quantitative easing. As it turns out, the scams success is based on a powerful combination of greed, apparent inside information, and the ability to see, feel, and touch the currency. This rise in interest was encouraged by the countrys recovering economy, and more tourists exploring this beautiful, budget-friendly country. There are over 70 currencies in Asia and, once the word gets out about the dinar and dong, I suspect that the Thai baht or Mongolian tughrik, both of which have performed well lately against the US dollar, will be next on the chopping block. With an increase in foreign capital, the value of the domestic currency rises. Whitmore is relentless with facts and figures, noting that in 2003 the Iraqi government replaced its old currency (known as "Swiss" dinars) with a new currency and offered to convert 150 new dinars to one old dinar. With Chinas M0 money supply around $1.4 trillion (9 trillion yuan), and assuming a 40 per cent gold backing, it would indicate a need for $560 billion worth of gold which is approximately the same amount of gold the U.S. holds in its official reserves at 8,200 tons. Ask Larry: Do I Need To File And Suspend My Social Security at 66? Day High. In fact, the cycle of inflation lasted from 1985 until the mid-nineties. The Central Banks of England, Spain, Holland and Germany would remain closed for two weeks. Vietnam After all, the value of a currency is a barometer of peoples trust in government and its ability to pay debts. These measures strengthen the resilience of the individual institution and the entire banking sector to crisis. The biggest challenge to recouping your initial investment is finding someone to buy those currencies back. How all these things evolve, and their timing, are beyond anyones forecasting abilities, but something will eventually replace the U.S. dollar as the sole dominant global reserve currency, perhaps sooner than anyone expects. It is implied that most of Congress was against this law and therefore it was passed in secret. Its just that gold is the only metal held almost universally by central 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. The writing is on the wall that some form of change is imminent, and a global monetary system reset may already be underway. The dollar jump shows that when a crisis hits, the world starts to row dollars and cannot get enough of them. Gold fell during the worst of the crisis in 2008 and 2020 and the USD got stronger. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. They declare that the entire world economy will collapse in one day. Help us push digipreneurship. Financial stability is a key prerequisite for the functioning of the national economy and the effective conduct of monetary policy. Firstly, no bank in the world is as safe as keeping money in a diversified investment portfolio. Is this possible? However, this can result in some functions no longer being available. The dinar has appreciated over the past decade, but still not enough to justify the transaction costs, explains Kirchenbauer. Prev. Philip. The processing and manufacturing sector Source: Kantar Media, Coinbase Armed for Legal Clash Over How Crypto Is Regulated, Crypto Firms Turn to Treasurys to Draw Customers, South Korea Indicts Co-Founder of Failed TerraUSD Cryptocurrency, FTX Poised for $250 Million Loss on LedgerX Sale, Coinbase to Face Established Rivals in International Push, Old-School Rules Apply to New-School DeFi Exchanges, Do Kwon, Jailed Crypto CEO, Rejects SEC Fraud Allegations, U.S. While Americans have been binging on digital currencies, global central banks have been on a gold-buying spree. A great idea, as long as the U.S. kept its gold and was fiscally responsible. How to prepare for a global currency reset? So, a depreciation of the USD is much more likely than a crash. A Pretribulation Bible Study Group Forums News You Can Use The Great Global Currency Reset GESARA / NESARA Tagged: GESARA , Global Currency Reset , NESARA This topic has 1 reply, 2 voices, and was last updated 2 The US dollar was the currency that countries used to support their currencies under this agreement. Second, it will require active collaboration with governments around the world to implement this new system or revert to the old system. Currencies never multiply in value overnight. The industry leader for online information for tax, accounting and finance professionals. Rapid Updates: Will Vietnams Currency Need a Monetary Reset? Truth About the Coming Global Currency Reset There are now over 35 trillion dinars in circulation (about three times as many dinars as there are US dollars). And this despite the fact that the Fed, as then, cut rates to zero and launched all sorts of measures of quantitative easing and other methods of providing liquidity. In my opinion, they dont fit anywhere! ", The Vietnamese central bank said the focus of its monetary policy framework is "to promote macroeconomic stability and to control inflation. The best way is to have a well diversified portfolio of global stocks and bonds, which is well placed for any economic situation. See here for a complete list of exchanges and delays. Close. But by 1971, all fiscal discipline had gone out the window and U.S. President Richard Nixon effectively defaulted when he decoupled the dollar from gold. A country can regulate the exchange rate of its currency to a baseline of its choice, be it the price of gold, wage rates, or a foreign currency. Historical Prices for Vietnamese Dong. Because that would be a hell of a lot more appealing than the violent transitions we have witnessed throughout the centuries. I have noticed a commonality between my clients, associates and friends. As for what would constitute a replacement of the dollar as the supreme reserve currency? I am not a financial adviser. Increases in interest rates lead to currency appreciation. Let me reiterate that; the Iraqi dinar and the Vietnamese dong do not fit into a retirement portfolio in any way, shape, or form. Comment Tags: exchange rate Shrimp exports plunge in Q1 Vietnamnet global #NavyVetUnited. Over time, we abandoned the flat rate. Of course, the U.S. could go back to some type of gold standard, but even at a 20 per cent gold backing of its M0 money supply, gold would have to be revalued to $7,500 an ounce. 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. Will the Vietnamese Dong be Revalued Soon? The official exchange rate between the Kuwaiti dinar and the US dollar never fluctuated even 10%, he said. The Trump administration in its final weeks had declared Vietnam a currency manipulator and had threatened to impose punitive tariffs on imports from Vietnam. A well-known example is the Financial Stability Board (FSB). And once youre in Vietnam, youll see the symbol used to show prices. 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. The Swiss Financial Market Supervisory Authority (FINMA) is responsible for the supervision of the Swiss banking sector. It will sell 21,420 dong per U.S. dollar (not including ordinary fees). All comments are opinions. Thats where it came from. It disproves the junk economics and it corrects the rewriting of history by this conspiracy. ChatGPT and investing - does it work well? Set rate alerts for VND to USD and learn more about 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. If you really want to put money into a bank, try some of the major ones in the UK, Switzerland and some other major markets. 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: Switzerlands banking industry is relying on its stability and expertise to ensure it has a bright future as a leading center for managing the assets of the rich, despite a concerted global attack on its tradition of secrecy. Vietnam struggled with a declining economy for a long time. Now, lets dive deeper into what currency revaluation is and what are its main drivers. Nesara I expect, at the very least, an alternative trading currency to emerge and compete with the dollar. From 1945 until 1954, the currency of the Democratic Republic of Vietnam used a portrait of Ho Chi Minh on its banknotes and was affectionately referred to as Uncle Ho currency. This new currency, issued in November of 1946, replaced the French currency, the Indochinese piastre. They are common in developing economies that are looking to provide a stable system. This was due to the countrys division into north and south after World War II. Vietnamese currency under bigger pressure in 2020 Trump has been talking about a level playing field and free trade. 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. Consequently, the United States is not eligible to tax American citizens. Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. For the time poor, I summarise why I dont think there will a currency reset (and USD weakness) anytime soon: The phrase Global Currency Reset has several meanings. Similar to political stability, a strong economic environment can attract investments. Bounce Back, Brokers! Forbes They started in 2010 and they are still buying while at the same time reducing their U.S. dollar reserves, which are now down to 59 per cent of total reserves from 71 per cent in 2000. Many people have purchased the Iraqi dinar and the Vietnamese Dong as an investment and as a way to protect themselves from this coming crash. Our currency rankings show that the most popular Vietnamese Dong exchange rate is the VND to USD rate. 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. This time, even before the outbreak of COVID-19, the dollar was moving up due to the search for profitability from carry. This will force countries around the world to negotiate a new global monetary system.
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