“Timing of the RV” by David Harkness – 11.23.21

Entry Submitted by David Harkness at 11:31 PM EST on November 23, 2021

Dear Readers,

I have  read with interest A Wake Up Call by TJP 23 November 2021 posting.

I concur with the frustrations and postings by hearsay and without any support for comments made, in particular the timing of the RV and the ever changing time tables  that never eventuate.

Surely the people posting must realise they have lost all credibility, may be not entirely their fault perhaps just blind faith in misinformation leading to huge disappointment…

The first real fact is that I have an email from Board Of Governors in response to my queries and in short they said that the revaluation  of the Vietnamese Dong and Indonesian Rupiah will not be revalued until January 2022.

The Federal Reserve have accounted for values that can’t be seen if you don’t know where to look to make a  calculation of their carrying value pegged to the USD which is not reflected in the public rates now declared.

The Federal Reserve is unlikely to revalue these particular currencies before January 2022.

They also have a value of the Iraq Dinar which is also not actually named as its attached to another Middle East currency not listed.

These currencies are pegged in most cases to the  to the USD which equals 1.

We need to look to both the UN and IMF to see list a values of various currencies.

IMF post during each day see link below. The IMF have valued most member currencies but do not list all of them for whatever reason. 

https://www.imf.org/external/np/fin/data/rms_rep.aspx

The IMF struck a value of all most all countries including Vietnam, Indonesia and Iraq  when they did the calculation for the issue new SDR limits.

I did see their calculations when they did this but they removed it from their web site. 

https://treasury.un.org/operationalrates/OperationalRates.php

https://treasury.un.org/operationalrates/default.php

The UN sets members currency rates half monthly and monthly see above link.

They reset a lot of currencies already see my comments below.

The UN next revaluation or devaluation is 29 November 2021 effective 1 December 2021. They revalued certain currencies 15 November 2021 see links above.

The UN only revalue with the agreement of the Countries Central Bank agreement.

Venezuela revaluation  is a prime example . 

http://www.floatrates.com/currency-usd.html

https://www.imf.org/external/np/fin/data/rms_rep.aspx

Float rates is another site that shows current currency rates from each Central Bank these rates appear daily continuously throughout day and night and feed the UN.

This is from  a  recent  posting that mentions that these are the currencies to be revalued now that I find not to be factual  and without any proper research.

My comments are as follows supported  by the above links. Currencies in the First Basket:

US Dollar, Equals 1 and is the peg to most other currencies unlikely to change   

UK Pound Sterling,  Unlikely to change

Kuwaiti Dinar, Already Revalued  0.303266 USD

Canadian Dollar,  Unlikely to change

Mexican Peso, r 0.0473c USD

Russian Rubble,  Unlikely to change 

Chinese Yuan,  expected to be devalued 

Venezuelan Bolívar Fuertes,  already revalued  0.2213 USD

Iranian Rial,    expected to be revalued

Iraqi Dinar,  expected to be revalued at 0.203c  USD 

Indonesia Rupiah, Expected to be revalued around 0.60c USD 

Malaysian Ringgit,   already revalued  0.2382c USD 

Vietnamese Dong,   Expected to be 0.44c USD 

Brazilian Real,   already revalued  0.144c USD   

Saudi Riyal,   already revalued 0.266c USD

Qatari Rial,    already revalued 0.274c USD

United Arab Emirates Dirham,  already revalued 0.2715c USD

Turkish Lira,  already revalued 0.0789C  USD  likely to be devalued   

Indian Rupee, unsure

Libyan Dinar,   already revalued 0.2157 USD .

Japanese Yen  possibly to be revalued 

Afghan Afghani.  Possible revaluation

This above is actual fact I would expect the next indication of any further revaluations  will occur 29 November 2021 at the UN  so we need to be a little more patient  the relief of all the stress bought about my incorrect information all basically hearsay will end.

Kind regards,

David Harkness

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