About 5 minutes before the
end of the 2 hour call, something very important was said.
According to Exogen and
Dave Schmidt, they feel that the only rate we will be able to get is the
international rate of $3.71. They say the contract rates are involved
with oil credits from China – and China backed out of these (2nd hand
information). Also, those who are getting or who have gotten the higher
rates are humanitarian projects, prosperity packages, people who are movers and
shakers like members of some board of directors, somewhat elite people, and
most of us are out of luck. So deal with it. This is the way of the
world.
But what I want to
stress: Don’t run to the bank to exchange. Take your time,
and WATCH THE DAILY RATES. What has happened in the past – with the
Kuwaiti dinar RV was that it started at $3.00 plus change, then rocketed up to
$8.00 for a short time and then went down again. These guys are going to
watch the rates. They will only exchange enough to pay their immediate
bills and then watch the daily rate. When it goes up higher, then they
get to the bank to exchange.
I think this is what Tony was
referring to when he mentioned the book “WHO MOVED MY CHEESE”. It
was the 2nd mouse that got the most cheese, not the 1st and not the 3rd.
In other words, it’s about timing. Don’t rush to the banks, but watch the
rates as the market drives up the rate.
Exogen also said that dollar for
dollar, the Vietnamese Dong has a better ROI (return of investment). They
are not sure of the rate, but they did mention that in the 1960s before the
Vietnam war killed the value of their dong, the rate was 1 dong = about
$2.26. So wouldn’t it be nice if the dong were that high. Not bad
for the little amount you paid for it. - about $58 – $80 for 1 million
dong. Still time to buy more.
The 800# will probably not
be needed, especially if there is not a contract rate available for us.
Better to contact the bank, ask for the wealth management side of the bank, not
the usual banking section, and then do your exchanges.
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