Transcript notes from Blaino's "Get It Straight" Conference Call 11-30-12
12-1-12 Panda Express: It (VND) has been consistently trading against the Euro at 36-37 cents for over a week. Now that is a one-way pairing. In other words, you can’t run down to your local branch or currency exchange and do anything with it.
At the close of business tonight (Friday) the USD against the VND overnight bid was $.58 and the ask $1.18. It has been stuck on that for the last 48 hours. The USD against the VND has been fluctuating between 38 and 36 cents since November 16th.
The next point is the VND against the Hong Kong dollar and this is very important for everybody. You gotta remember you can’t be myopically focused just on the VND or the Iraqi Dinar.
his is a worldwide reset. There are a lot of currencies and a lot of pairings and a lot of things going on. I can’t imagine the technical stuff that has to go on to make this work.
But we have watched a lot of these currencies that are in the same area and the VND against the Hong Kong dollar has been at .37 for the last three days. As we see these additional currencies start pairing up it leads us to believe we gotta be getting closer.
The other thing I would like for everybody to remember is up until just recently the VND was trading against all currencies at much higher values but it was an open trading paired equally both ways and only until just about 10 days ago did we see this shutdown across the board on the Dong where it suddenly became not paired correctly against all these currencies that it had been paired with for quite some time quite happily.