Skip to comments.
Panicked Gold Buying Forces Vietnam To Devalue Currency
The Business Insider ^
| November 25, 2009
| Vincent Fernando
Posted on 11/25/2009 6:31:45 AM PST by danielmryan
Vietnam has been forced to devalue its currency, the dong, for the third time since June 2008.
The country's pegged exchange rate will shift to 17,961 dong per dollar vs. 17,034 previously. The Vietnamese central bank will also hiking interest rates to 8% from 7% in an attempt to control inflation.
(Excerpt) Read more at businessinsider.com ...
TOPICS: Business/Economy; Foreign Affairs
KEYWORDS: centralbanks; devaluation; gold; vietname
Navigation: use the links below to view more comments.
first 1-20, 21-33 next last
Nuthin to do with Vietnamese inflation, oh no...
To: danielmryan
Their currency is called THE DONG? LOLOLOL!
2
posted on
11/25/2009 6:35:03 AM PST
by
FarRightFanatic
(It wasn't an election. It was a socialist coup.)
To: danielmryan
Hey Charlie, how’s that whole Communism thing workin’ out for ya?
3
posted on
11/25/2009 6:35:51 AM PST
by
dfwgator
To: FarRightFanatic
I work with a guy named “Dong Wang.”
yeah.
4
posted on
11/25/2009 6:35:52 AM PST
by
Zeppelin
(Keep on FReepin' on...)
To: FarRightFanatic
Vietnamese dongs are less valuable to women apparently.
5
posted on
11/25/2009 6:44:01 AM PST
by
villagerjoel
(1. Implement socialist policies 2. ??? 3. Heaven on earth)
To: villagerjoel
I’m pretty sure their currency is smaller in size than ours.
Much smaller.
6
posted on
11/25/2009 6:45:53 AM PST
by
djf
(Maybe life ain't about the doing - maybe it's just the trying... Hey, I don't make the rules!)
To: danielmryan
Sounds like their dongs could use some viagra....
7
posted on
11/25/2009 6:51:37 AM PST
by
Adder
(Proudly ignoring Zero since 1-20-09!)
To: danielmryan
Long Duck Dong not happy about this.
8
posted on
11/25/2009 6:54:51 AM PST
by
Sherman Logan
("The price of freedom is the toleration of imperfections." Thomas Sowell)
To: djf
“I’m pretty sure their currency is smaller in size than ours.”
Also, as I understand it, this means that Vietnamese dongs can no longer go as far as they once could.
9
posted on
11/25/2009 6:55:29 AM PST
by
villagerjoel
(1. Implement socialist policies 2. ??? 3. Heaven on earth)
To: danielmryan
....more and more, gold is starting to look like a bubble to me...first came the dot com bubble, followed by the housing bubble and now the precious metals bubble.
To: danielmryan
I guess my plan to get rich speculating in vietnamese currency isn't working.
11
posted on
11/25/2009 7:00:56 AM PST
by
dynachrome
(Barack Hussein Obama yunikku khinaaziir!)
To: dynachrome
To: STONEWALLS
I agree. In fact, I have a blog entitled "
The Gold Bubble."
(Many thanks for the opportunity to blog-pimp.)
To: danielmryan
Let me get this straight: The Vietnamese were forced to de-value their dongs?
Is this announcement expected to affect the future birth-rate in their country?
14
posted on
11/25/2009 7:13:55 AM PST
by
WayneS
(Respect the 2nd Amendment; Repeal the 16th)
To: danielmryan
....nice gold bubble blog you have there...and BTW I was around for the last bubble in the late 70s...in that one gold hit $800+ and the Chinese and Russians punctured the market by using slave labor to extract metals.
To: danielmryan
The Vietcong are dongless.
16
posted on
11/25/2009 7:27:44 AM PST
by
TexasRepublic
(Socialism is a parasite that kills the host)
To: dynachrome
Mot, hai, ba, bon, nam, sau, bai, tham, chin, muoi... moui mot, moui hai....
17
posted on
11/25/2009 7:32:43 AM PST
by
onedoug
To: TexasRepublic
The Dong is shrinking.
The government is trying to re-inflate it.
18
posted on
11/25/2009 7:33:01 AM PST
by
djf
(Maybe life ain't about the doing - maybe it's just the trying... Hey, I don't make the rules!)
To: STONEWALLS
Thanks for the compliment. I missed the last one, being only ten when it popped in early 1980.
To: WayneS
Is this announcement expected to affect the future birth-rate in their country?Not if they flip the ratio around.
Navigation: use the links below to view more comments.
first 1-20, 21-33 next last
Disclaimer:
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson
