Vietnam had recently become the world’s largest importer of gold bullion. Investors and householders bought the yellow metal for the same reason people always have – as a way to protect themselves from paper. The paper at issue is called the “dong,” the official currency of the Socialist Republic of Vietnam. With the Vietnam stock exchange in shambles, the dong has lost value.
June 30th, 2008 | Bill Bonner | 5 comments | Continued