TUESDAY is the historically most likely day for market shifts of this magnitude Any time after lunch hour TOKYO time would provide maximum same day global access
wilbur grodan Perhaps these clues are suggesting banks on WEDNESDAY
This does not preclude activation tonight and rates appearing TUESDAY
Jim > carden:
Carden, what is your take on Vietnam, passing the law that regular Vietnam citizens, can not exchange dong for foreign currency. Effective September 2. Thanks
They want to stop using the USD for SOME reason. Sept 2nd seems do be an interesting day??? US - Start of the Bail-in opportunity for bad banksVietnam- Banning foreign currency for in country use. Are there any other countries with Finance laws going on the books on Sept 2nd
carden > Jim:
I think it is the writing on the wall for the whole world, frankly. We all have to be watchful. If FATCA takes affect here in USA we will have the same challenges.
Mark > Jim JGH:
...The Vietnam Dong is an already recognized international currency. This rule is for it's citizens only...not the international market. This has nothing to do with your investment but an internal move by the CB of VietNam to control its currency and in turn, increase it's value.
Bottom line, they are international...the Dinar is a completely separate horse of another color as it is currently "not" recognized by anybody which we are hoping changes in the next 48 hours...
Zuvrick Rm > Mark:
What's interesting here is the effective date of 2nd September. If the RV happens before that date then the Vietnamese people can exchange Dong for foreign currency at will. The regulation is to prevent a run on the banks to get USD (which they don't know is unwise anyway). Does this mean that the RV will not happen before 2nd September???? Note that there is a huge amount of USD in circulation there because the Dong has been so weak. The dollar is used in many daily transactions.
A similarly low value of the Rupiah exists, but here in Indonesia USD is not very often used in transactions. My brother-in-law is a middleman negotiating a number of real estate transactions and all of the prices are quoted in Rupuiah.