Vietnam Suspends Gold Imports, Follows FDR’s Great Depression Lead

Introduced in 1978, the Vietnamese dong is another example of fiat money gone wrong.

Inflation is now clearly out of control. Inflation soared 27% over the last 12 months through June. And inflation is still climbing as crude oil and other commodities prices continue to hit new highs.

The dong is down just 3.7% this year versus the dollar, but it still remains severely overvalued. Also, recently the dong breached its government-imposed trading band.

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