Credit card for foreigner

Gold bullion backing for a currency is a curious process. Who and how would anyone check that China has amassed the quantity of gold supposedly needed to guarantee its currency? There have been innumerable number of gold scams using fake gold bullion bars made of cheaper metals, like tungsten and brass, and plated with gold to pass the acid test. Well-made counterfeits even weigh the same as authentic gold and have fake refinery logo stamps, making them hard to detect. So the warehouse could basically be mainly filled with such counterfeits and then surrounded by genuine bars.... but I still don't understand how checking the trove of bullion would be authenticated.
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15800 per $. That's like at the beginning of COVID. This collapse of the rupiah seems to be an overreaction since the economy and the country in general is not doing too badly.
 
15800 per $. That's like at the beginning of COVID. This collapse of the rupiah seems to be an overreaction since the economy and the country in general is not doing too badly.
I suppose large currency dealers have packages of many different currencies. In troubled times perhaps they abandon currencies of under developed countries and this would cause the exchange rate to drop. However, I have a very limited understanding of international finance so perhaps someone with expertise can throw some light on this.
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I did used to sell genuine trillion dollar Zimbabwe bank notes as novelties for $6 Au.
 
What hapennd with the dedollarization? What should I do with tens of thousands of renminbis that I have amassed? I feel cheated.
 
Gold bullion backing for a currency is a curious process. Who and how would anyone check that China has amassed the quantity of gold supposedly needed to guarantee its currency? There have been innumerable number of gold scams using fake gold bullion bars made of cheaper metals, like tungsten and brass, and plated with gold to pass the acid test. Well-made counterfeits even weigh the same as authentic gold and have fake refinery logo stamps, making them hard to detect. So the warehouse could basically be mainly filled with such counterfeits and then surrounded by genuine bars.... but I still don't understand how checking the trove of bullion would be authenticated.
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Gold is not bitcoin. It is an actual physical tangible thing that can be counted and seen and touched and felt. It's also finite.
That means the amount of gold in the world (total) is known and accounted for that has been sold and melted into bullion etc. Give or take a few millions.

It would be nigh on impossible for China to suddenly claim they have $100 billion in gold reserves in a warehouse in Shanghai.

All the gold discovered and mined is pretty much accounted for on the world markets
 
I suppose large currency dealers have packages of many different currencies. In troubled times perhaps they abandon currencies of under developed countries and this would cause the exchange rate to drop. However, I have a very limited understanding of international finance so perhaps someone with expertise can throw some light on this.
View attachment 3432

I did used to sell genuine trillion dollar Zimbabwe bank notes as novelties for $6 Au.

Like your cartoon, expertise goes out the window when you have a war / wars / occupations

No one can predict markets.
 
What hapennd with the dedollarization? What should I do with tens of thousands of renminbis that I have amassed? I feel cheated.

Why cheated? There will be a time to sell them in the future. Relax. Otherwise you in the wrong business.

Like a house valuation or stock price. It only matters on the day you sell. It's only worth what someone else wants to pay
 
Why cheated? There will be a time to sell them in the future. Relax. Otherwise you in the wrong business.

Like a house valuation or stock price. It only matters on the day you sell. It's only worth what someone else wants to pay
Sarcasm man. Long on dollar and gold. Suckers took the dedollarization story for real. Until US has the nukes, strongest military and is the biggest importer on the world, no worries.
 
16 and 17 soon

23-Okt-2023 / 11:43 WIB

USD 15.940,00 15.960,00
SGD 11.610,49 11.624,16
EUR 16.857,65 16.876,60




23-Okt-2023 / 11:43 WIB
kurs-menu-new2019.jpg
USD​
15.940,00​
15.960,00​
SGD​
11.610,49​
11.624,16​
EUR​
16.857,65​
16.876,60​
 
Bam! EUR 1 = IDR 17.000 ...
 

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Bam! EUR 1 = IDR 17.000 ...
And you will miss again like the last one because you might be waiting for an unattainable goal of reaching infinity. :p:p:p

In my own view, if individuals anticipate requiring Indonesian Rupiah (IDR) in the near future, perhaps within the next year, it's good to begin exchanging it gradually in a smaller chunks, even if you won't obtain the highest exchange rate, but you'll also avoid the lowest rate. This strategy aligns with the investment approach known as Dollar Cost Averaging (DCA), which is particularly effective in highly volatile markets. In the investing world people are using this strategy in the bear market.

The exception is for people who are using technical analysis, looking into the trading volume vs exchange rate using various indicators. But this technical analysis suits more to currency traders rather than a person who will use it for personal use because they will spend in IDR in the near future anyway.

No strategy can guarantee 100% accuracy, so individuals must conduct their own research and select a strategy that they personally believe suits them best.
 
11 years ago it was Rp9,500 per dollar. It is 50% higher now so I am not going to complain. I tell my wife that anything over Rp13,000 is a bonus.
 
It goes up and down. Don't be too greedy it all evens out in the end

My clients pay me in € or $ so I'm happy

Maybe if it drops to 10 time to take some out. But if you invest well you will make money anyway
It's a surprise bonus that's all.
 
Price of gold is sky high now
 

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4-Des-2023 / 15:03 WIB
kurs-menu-new2019.jpg
USD​
15.455,00​
15.485,00​
SGD​
11.575,83​
11.589,79​
EUR​
16.795,54​
16.809,95​
AUD​
10.260,03​
10.276,4​
 

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