Entry Submitted by David Harkness at 6:14 PM EDT on June 13, 2021
Its about time some people wake up.
The Federal Reserve is alive and well but merged with Treasury.
The Federal Reserve set the USD peg against other world currencies every Monday.
Whilst most banks don’t list the Vietnamese and Indonesian currencies for a long time the Federal Reserve apply a value to both these currencies under the attached Link H10 under EME .
Then under currency weighs H6 see link below you will see both these currencies are listed
Its very easy to work out the current value as at 21 February 2021 that provides some comfort.
As to the Dinar its not listed any where and will not appear for some time at the Federal Reserve until such time as the Country is Rated , this is along time coming I expect .
Speculation of rates made are utter nonsense whilst Dong has been suggested to be USD1 = 0.47c USD is possible 6 months ago its more like 0.70c public rate.
Its time that some of the reports provided are supported by fact.
The above links say it all .
RV for these currencies are accounted for and must happen before Basel 3 introduction 28 June 2021 .
So how about making your followers of these facts , so far no now has actually provided any support for their reports.
Wake Up every one are your half asleep.
I need to draw your attention to this link below and bottom left FX Screen shot.
I expect this photo is some 12 months old.
You will see in this photo that the sell and buy price for Vietnam Currency as follows.
Vietnam 1000 = USD 0.2964 Buy and Sell 0.43330.
A big margin being fees. I don’t expect this margin will charged by other banks and I don’t know if there will be a fee adjustment on RV re listing of the Vietnamese Dong.
What is being said is that 3 zeros will be removed by the American Banks so 1 Dong = USD 0.2964c Buy Price after fees.
So its up to the American Banks to relist these currencies and remove 3 zeros, not the Federal Reserve and only after the Federal Reserve has revalued this currency and moved to H10 page on a standalone basis not disguised under EME.
The value on H6 page is at 21 February 2021 and pegged to the oil price, given the oil price has increased since we would expect an increase in the value of the Dong.
Most banks globally have not listed the Dong at current rates for over 12 months now.
Recently some Australian Banks have relisted the Dong at the pre RV rates. I expect in preparation for the RV and public exchange.
Its not up to Vietnam to revalue it’s the Federal Reserve/Treasury and American Banks.
I draw to your attention of the above link from the State Bank of Vietnam and the last five reports Development in Money Market and Interbank Market.
What this indicates is during early to mid-May it would appear that the State Bank of Vietnam have been increasing buy back their currency before the RV is announced. This appears now to have slowed down.
This site also indicates more bank branches are being opened another positive sign.
People need to understand that under the Redemption process and the contracts they enter into that the currency collected will be returned to Vietnam in exchange for USD currency and physical gold held in reserve by the State Bank of Vietnam which is substantial.
These large notes are then with drawn from circulation reducing notes on issue but increasing the value of the smaller notes still on issue.
When the Public Rate is declared globally the selected banks which have been funded will repurchase the larger notes only, this currency will also be returned to Vietnam on the same basis above.
There is a motive for all of this process, that is Basel 3 has no risk weighting on Physical Gold and Cash.
The payment in gold will also help support the USD.
This is a complex process that the general public would not understand and is one of the reasons it has taken such a long time to get to finality.
We all need to be a little more patient as the RV moves to completion, time is now not on the side of USA Banks or the Federal Reserve and Treasury.
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