“……In a future essay I will be focusing on the re-emergence of Vietnam into the global economy. But for now I’d like to bring notice to the fact that their economic growth is astounding with a middle class that is swelling and an economy that is attracting huge investment. Vietnam has the lowest unemployment rate on the planet. Samsung is moving its factories into Vietnam. Russia has signed an agreement with Vietnam to build a $28 Billion oil refinery, the second largest in all of Asia, with more to come. Even Starbucks is getting into the Vietnam craze.
The Vietnamese people hold 300 to 400 tonnes of personal gold. That is equal to or greater than the gold holdings of Great Britain. The State Bank of Vietnam is planning on converting this gold into dong deposits with the intent of strengthening the currency. Add this to the gold that will be imported into the vaults of the central bank through the Shanghai Gold Exchange, and you have the makings of a very strong regional power. I would suspect that Vietnam will become a contributing member too the BRICS Development Bank and the SDR compositions for the region.”
We thought this article was very interesting for many who feel that Vietnam is still a backwater surrounded by rice paddies and crumbling temples, without any hope of seeing a valuable currency.
Even more interesting is the comment on gold and its use to provide the kind of hard metal backing that will allow the currency to appreciate in value within the framework of the new gold backed system of international exchange, which will replace the USD as the reserve standard.
The articles on this blog, so far, have been some of the best we have seen in clarifying the new horizons. And overall, it lends further credibility to the absolute fact that the GCR is real.
Vietnam is just one example of the 20 countries set to see their currencies revalue up and down, including the USD.
Hold on to your hats. 2014 is going to be one for the books.