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Thread: Et tu, Vietnam?

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    GRG55's Avatar
    GRG55 is online now iTulip High Commissioner, Select Premium Member, Canada and Persian Gulf
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    Default Et tu, Vietnam?

    Another brick in the (new world monetary order) wall...

    From the UK Daily Telegraph on October 3, 2007...
    Dollar's double blow from Vietnam and Qatar
    By Ambrose Evans-Pritchard

    Last Updated: 6:03pm BST 03/10/2007

    Vietnam is planning to cut its purchases of US Treasuries and other dollar bonds, raising fears that Asian central banks with control over two thirds of the world's foreign reserves may soon join the flight from US assets.

    The Saigon Times said this morning that the State Bank of Vietnam was abandoning the attempt to hold down the Vietnamese currency through heavy purchases of dollars. The policy is causing the economy to overheat, driving up inflation to 8.8pc.

    Separately, the gas-rich Gulf state of Qatar announced that it had cut the dollar holdings of its $50bn sovereign wealth fund from 99pc to 40pc, switching into investments in China, Japan, and emerging Asia.

    Link to full article:
    http://www.telegraph.co.uk/money/mai...bcnviet103.xml
    Last edited by GRG55; 10-04-07 at 03:32 PM.

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