this was an email to me .Beijing gives China’s banks the green light to dump dollars!

This is absolutely unprecedented. China’s central bank has always been able to sell dollars.

NOW, EVERY COMMERCIAL CHINESE BANK HAS BEEN GIVEN OFFICIAL FIRST-TIME-EVER APPROVAL TO DUMP AND SELL SHORT THE U.S. DOLLAR! I wonder how many people think I’m nuts now! All along I’ve been warning you that Beijing and Washington were moving to devalue the U.S. dollar and start lifting the Chinese yuan’s status as an international currency.

And over the last couple of weeks I’ve told you about every single step that Beijing’s taken to do exactly that, without one single objection coming from our “leaders” in Washington!

But yesterday’s announcement takes the cake: Beijing just gave the country’s commercial banks the green light to dump U.S. dollars — for the first time ever!

Is it any surprise that the U.S. dollar is hovering near record lows against the Chinese yuan, ready to plunge further? I think not!

Is it any surprise that the U.S. dollar can’t even rally against Europe’s currency — a currency that everyone knows is doomed?

I think not!

My view: If you don’t take the action you need to take now to PROTECT your money and turn this looming, disastrous dollar devaluation to your advantage ...

You’re about to commit financial suicide!

Instead, take the action I recommend now —

Including the select high-profit-potential investments that could soar 185% ... 200% ... 257% ... up to 365% as the U.S. dollar’s value is gutted!

What does this help the rv?

punisher wrote:What does this help the rv?

i was thinking about the dong possable going up to..

This another hoax email. As usual, another "financial wizard" spreads the doom and gloom to make money from the suckers.

That is all that is.

Fear mongers among us. I will never allow anyone to suck away my dream. Mighty dollar are'nt going where.

You'd better think again-It's here now,and only get worse by year's end-

Funny the only places I see this are sites hawking penny stocks, precious metals, or other unnamed investment opportunities (subscribe to our newsletter for only 129.00/year) ... no mention on Fox News, Bloomberg, etc. Just sayin

nothing on the financial channels about this bogus as usual they must want you to invest in there garbage

Just asking about dong vnd? where do you buy this currency and what rate will it come in at im new and just wondering? Is this a good investment?

Thanks,look foward for response.

dtrb24 wrote:Just asking about dong vnd? where do you buy this currency and what rate will it come in at im new and just wondering? Is this a good investment?

Thanks,look foward for response.

Dinar trade is now open again. Dong is $80 per million.

rick152 wrote:

dtrb24 wrote:Just asking about dong vnd? where do you buy this currency and what rate will it come in at im new and just wondering? Is this a good investment?

Thanks,look foward for response.

Dinar trade is now open again. Dong is $80 per million.

Dong is pretty cheap...

If someone gets to a dealer we can confirm or debunk this Intel, I feel that it is necessary in order to let Peeeps know on here as to not spread..

Basket of currencies determines the value of the SDR


The value of the SDR was initially defined as equivalent to 0.888671 grams of fine gold—which, at the time, was also equivalent to one U.S. dollar. After the collapse of the Bretton Woods system in 1973, however, the SDR was redefined as a basket of currencies,today consisting of the euro, Japanese yen, pound sterling, and U.S. dollar. The U.S. dollar-equivalent of the SDR is posted dailyon the IMF’s website. It is calculated as the sum of specific amounts of the four basket currencies valued in U.S. dollars, on the basis of exchange rates quoted at noon each day in the London market.

The basket composition is reviewed every five years by the Executive Board, or earlier if the Fund finds changed circumstances warrant an earlier review, to ensure that it reflects the relative importance of currencies in the world’s trading and financial systems. In the most recent review (in November 2010), the weights of the currencies in the SDR basket were revised based on the value of the exports of goods and services and the amount of reserves denominated in the respective currencies that were held by other members of the IMF. These changes became effective on January 1, 2011. The next review will take place by 2015. In October 2011, the IMF Executive Board discussed clarifications and possible reform options of the existing criteria for broadening the SDR currency basket. Most directors held the view that the current criteria for SDR basket selection remained appropriate.

http://www.imf.org/external/np/exr/facts/sdr.htm

The IMF has announced that on January 1, 2011 changes in the relative weights of the four currencies in the Special Drawing Rights (SDR) basket will come into effect (Press Release No. 10/434). The initial weights assigned to each currency in the SDR basket have been adjusted to take account of changes in the share of each currency in world exports of goods and services and international reserves.
The table below shows the new currency amounts that will be effective January 1, 2011.To assist users of the SDR in preparing for the changeover to the new SDR valuation, the IMF has provided illustrative projections of the currency amounts every week in December.
http://www.imf.org/external/np/tre/sdr/sdrbasket.htm

SDR Rates for April 20


1 USD = SDR 0.64733
SDR Interest Rate = 0.15%
More SDR info
http://www.imf.org/external/index.htm

So - for those of you wondering wh ois blowing smoke INTO the room vs (as I have been told) blowing smoke OUT of the room - this is me blowing.

You can also look up the definition of "sell short" on the investment site of your choice.

You can't remove the USD from the world and expect that every nation will suddenly go for communist money as deciding the "value" of the world. Not to mention if we suddenly quit doing imports from China - many stores would be empty....

(My quote of the day: I love doing battle of the witts with an unarmed person)

dtrb24 wrote:Just asking about dong vnd? where do you buy this currency and what rate will it come in at im new and just wondering? Is this a good investment?

Thanks,look foward for response.

I have been buying VND from my local bank.. The rate has been around $60.00 per million. There may or may not be a service fee(Mine charges about $15.00 for non-customers). The bank usually calls me in about 1-3 working days to let me know it's in.

dtrb24, just so you know, there isn't really any evidence that the dong is going to revalue. The economy is completely different from Iraqs and it actually would make no sense to RV it. It would destroy their economy. I bought 1 million but look at it like a lottery ticket. I don't know where the rumor started but it really doesn't have much basis in reality.

The concept of China dumping US Dollars is so utterly ludicrous it is barely worth discussing. The original poster has no conception of reciprocal economics. China would be doomed if they "dumped" US Dollars, as their own economy is integrally linked to ours.

Utter nonsense.

If China does start selling the USD, then the dollar will drop in value, big surprise there, and the Yuan will go up, which had been dropping the last few weeks, as all Asian currencies have been doing.

But Timsters might be right, maybe the VND will gain some advantage in increase in value along with the Yuan, But as low as the VND is, it needs to jump a long way to make it worth anything as it has been sliding south for months.

But the VND is a low cost way to play, prices ranging from $58 to just under $100 per million, and avilable at many banks and dealers.

1Alaskan- I've thought about the VND myself, and think it wouldn't be a bad thing, only with a minimal investment,it would be a nice chunk of change-:cheers:

We thought of it this way, We got in for less than $60 per mill, if it goes to a penny, I know that is a long way to go, but thats 10k per mill,

But a 100 mill was less than 6K, but we do not have the amount hard news coming out of Vietnam we do about of Iraq, for what that is worth,