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Thread: Dump Your Dong

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    Senior Investor Offshore-Wealth.com's Avatar
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    Default Dump Your Dong

    Interesting,

    As I see it, the dong is in for a rough ride, perhaps shedding as much as 30% of it's current value as their markets implode. With little to support dong, and less importing from U.S., I suspect this is not the currency to want to hold for the long term.

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    Default Why?

    I would rather play with my Dong than dump it....unless you have a nice little tight spot where I can dump it into!

    P.S. Keep you mind out of the gutter

    P.S.S. - The amount of money I invested in the Dong is money that was meant for investment purposes only. At less than $100/million, my life will go on.

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    Default

    Quote Originally Posted by Ferrigno View Post
    I would rather play with my Dong than dump it....unless you have a nice little tight spot where I can dump it into!

    P.S. Keep you mind out of the gutter

    P.S.S. - The amount of money I invested in the Dong is money that was meant for investment purposes only. At less than $100/million, my life will go on.
    Yes at the end of the day its still currency, still exchangable in some banks, the HSBC for example here in UK. If I get really desperate I can always take it there, though I don't see that happening.

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    Default

    hmmmm.... I have read otherwise also...

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    Default Offshore-Wealth.com

    We'll see, but with stock market plunging, and inflation out of control, not what you want to see for any rise in value of dong, just the opposite of what you want to see, so as usual, we shall all see.

    Good luck to all, Mike

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    I was there too in May, last month though not in HCMC but while dining at Kathleens close to The Bund in downtown Shanghai, I had a social chat with an Investor on Asian Markets and he is adamant on them Dongs is in for a long nasty, unstable ride ...to come!!! What we're seeing now is just the beginning....

    My other Forum mate who travels as Sales/Service Manager to oversee their Plant/Branch there in Vietnam also agrees... Its not the time yet and not for a foreseeable future either... hmm, something just isn't working out right as yet despite all the positive appraisals and encouragement but.. we have to wait & see and be prepared for a long haul... as long as their famous "tourist tunnel" coughs up mainly with some cash in US Dollars every week which depends on willing tourists to crawl thru...

    Well, its cheaper to experience what & how the Congs went with tunneling (and come out muddy & perhaps earn a nasty back ache from the crawling...yikes!!!) during the Vietnam War than to pay for a space flight from Khazakstan wouldn't it???

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    Well put Des, I invested in coffee plantation and it too is going south, so I hear the same from insiders, this is tough period, and since tourism is only ace in the whole, and with dollar taking another dump after feeble blip on manipulated economic data and Bernanke BS, it laster only a day. lol

    Good Luck To All, Mike

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