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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: ggersh who wrote (200213)	7/9/2023 8:09:31 PM
From: TobagoJack	1 Recommendation Recommended By ggersh Read Replies (1) \| Respond to of 217917

I have to do some thinking, not about whether I have gold, which I do, but about my non-gold stuff which includes fiat currencies USD and its and my USD-linked HKD I had to do a cursory fact-check and am perturbed ... aseanbriefing.com ASEAN Finance Ministers and Central Banks Consider Dropping US Dollar, Euro and Yen, Indonesia Calls for Phasing Out Visa and Mastercard March 29, 2023 Posted by ASEAN BriefingWritten by Chris Devonshire-Ellis Reading Time: 2 minutes An official meeting of all ASEAN Finance Ministers and Central Bank Governors kicked off on Tuesday (March 28) in Indonesia. Top of the agenda are discussions to reduce dependence on the US Dollar, Euro, Yen, and British Pound from financial transactions and move to settlements in local currencies. The meeting discussed efforts to reduce dependence on major currencies through the Local Currency Transaction (LCT) scheme. This is an extension of the previous Local Currency Settlement (LCS) scheme that has already begun to be implemented between ASEAN members. This means that an ASEAN cross-border digital payment system would be expanded further and allow ASEAN states to use local currencies for trade. An agreement on such cooperation was reached between Indonesia, Malaysia, Singapore, the Philippines, and Thailand in November 2022. This follows from Indonesia’s banking regulator, stating on March 27 that the Bank of Indonesia is preparing to introduce its own domestic payment system. Indonesian President Joko Widodo has urged regional administrations to start using credit cards issued by local banks and gradually stop using foreign payment systems. He argued that Indonesia needed to shield itself from geopolitical disruptions, citing the sanctions targeting Russia’s financial sector from the US, EU, and their allies over the conflict in Ukraine. Moving away from Western payment systems is necessary to protect transactions from “possible geopolitical repercussions,” Widodo said. Of the ASEAN nations, just Singapore has enforced sanctions on Russia, while all other ASEAN nations continue to trade with the country. There has been alarm at being caught up in US-led secondary sanctions, as are short to impact Central and South Asia countries involved in cotton manufacturing, a major industry in the region employing millions of people. Foreign investors in Asia may wish to consider the amount of US dollars, Euros and Yen held in their accounts in light of a pending ASEAN currency trade decision. Professional discussions should be taken regarding any movement of company funds to alternative currencies.

To: ggersh who wrote (200213)	7/9/2023 8:11:01 PM
From: TobagoJack	Read Replies (1) \| Respond to of 217917

another one thailand-business-news.com ASEAN Central Banks Consider Dropping US Dollar, Euro and Yen in favour of local currencies ASEAN Finance Ministers and Central Bank Governors are meeting to discuss reducing dependence on major global currencies in favour of local currencies for financial transactions. Daniel Lorenzzo Published on 04 May 2023 Recently, the ASEAN Finance Ministers and Central Banks have been discussing the possibility of dropping the US dollar, Euro and Yen as their main currencies and instead use a basket of currencies or a digital currency as their settlement unit. Additionally, Indonesia has been calling for phasing out Visa and Mastercard, two of the world’s most popular credit card networks, within the region. President Widodo of Indonesia has encouraged regional administrations to use credit cards issued by local banks and discard foreign payment systems, in order to protect transactions from geopolitical repercussions. The move away from Western payment systems comes ahead of a pending ASEAN currency trade decision and foreign investors should be mindful of the amount of major currencies they hold in accounts. The move away from the US dollar, Euro and Yen follows concerns about the stability of these currencies. The global economy has been experiencing volatility in recent years and the value of these currencies has been fluctuating dramatically. ASEAN member countries are looking for a more stable and predictable settlement unit to use for international trade. One option being discussed is a basket of currencies. A basket of currencies is a weighted average of a group of currencies. By using a basket, the impact of currency fluctuations can be reduced because the value of the basket is based on a group of currencies rather than just one. Another option is the use of digital currencies. Digital currencies are virtual currencies that operate on a decentralized network. One example of a digital currency is Bitcoin. While not yet widely used, digital currencies are becoming more mainstream and are already being used in some countries. Regardless of the option chosen, the move away from the US dollar, Euro and Yen will have significant implications for global trade. These currencies are some of the most widely used in international trade and the shift away from them will likely lead to changes in the way goods and services are bought and sold. In addition to the discussion about currencies, Indonesia has also been calling for the phasing out of Visa and Mastercard within the ASEAN region. Indonesia’s central bank has already rolled out a national payment gateway and has been urging other ASEAN member countries to follow its lead. The phasing out of Visa and Mastercard would mean that consumers would have to use local payment systems when making purchases in the ASEAN region. This would encourage the growth of local payment systems and reduce reliance on foreign payment networks. About the author About the author Related Posts

To: ggersh who wrote (200213)	7/9/2023 8:12:52 PM
From: TobagoJack	1 Recommendation Recommended By ggersh Read Replies (1) \| Respond to of 217917

One more, and as is from Bloomberg, enough for the cursory bloomberg.com Southeast Asia, Too, Is Losing Patience With King Dollar’s Clout Michelle Jamrisko January 10, 2023 at 9:38 PM EST Southeast Asia, like much of the rest of the world, is losing patience with King Dollar. The weaponization of the world’s reserve currency, as through sanctions on those deemed bad actors — such as Russia for its war in Ukraine — has pushed even the typically diplomatic Southeast Asians to warn the US of the consequences. In a conference in Singapore Tuesday, multiple former officials spoke about de-dollarization efforts underway and what economies in the region should be doing to mitigate the risks of a still-strong dollar that’s weakened local currencies and become a tool of economic statecraft. George Yeo at Regional Outlook Forum 2023 on Jan. 10.Source: ISEAS – Yusof Ishak Institute“The US dollar is a hex on all of us,” George Yeo, former foreign minister of Singapore, said at the conference hosted by the ISEAS-Yusof Ishak Institute. “If you weaponize the international financial system, alternatives will grow to replace it” and the US dollar will lose its advantage. While few expect to see the end of King Dollar’s global sovereign status anytime soon, Yeo urged that the risk of it happening be taken more seriously. “When this will happen, no one knows, but financial markets must watch it very closely,” said Yeo, who is a visiting scholar at the National University of Singapore’s Lee Kuan Yew School of Public Policy. After gaining 6.2% in 2022, the US dollar is down 0.67% in the first several days of this year, through the end of Tuesday, according to the Bloomberg Dollar Spot Index. Yeo noted that in times of crisis, the dollar rises further — as with levies on Russia that have left Russian banks estranged from a network that facilitates tens of millions of transactions every day, forcing them to lean on their own, much smaller version instead. That’s put more pressure on third-party countries, too, which have to unduly rely on US dollar use. Thomas Lembong at Regional Outlook Forum 2023 on Jan. 10.Source: ISEAS – Yusof Ishak InstituteFollowing on Yeo’s remarks later in the conference, former Indonesian trade minister Thomas Lembong applauded Southeast Asia central banks that already have developed direct digital payments systems with local currencies, and encouraged officials to find more ways to avoid leaning too hard on the greenback. “I have believed for a very long time that reserve currency diversification is absolutely critical,” said Lembong, who’s also a co-founder and managing partner at Quvat Management Pte Ltd. Supplementing dollar use in transactions with use of the euro, renminbi, and the yen, among others, would lead to more stable liquidity, and ultimately more stable economic growth, he said. The 10 Asean countries are just too disparate to establish a common currency as with the euro bloc. But Lembong said he was “deeply passionate” on this subject of the dollar as a global reserve currency. The direct digital payments systems — which have boosted local currency settlement between Malaysia, Indonesia, Singapore and Thailand — are “another great outlet for our financial infrastructure,” he said.

To: ggersh who wrote (200213)	7/9/2023 9:19:51 PM
From: TobagoJack	1 Recommendation Recommended By ggersh Read Replies (1) \| Respond to of 217917

re <<BRICS>> latest via broadcast news, BRICS annual meeting 15th edition date August 22 to 24 to be held in S Africa South Africa, the host, invited all of Africa domains to attend Attending domains including members shall be 55, largest ever crowd, and am guessing much resource within domain Small wonder Macron wanted an invite but, as in alas, Putin objected China pledged security help to S Africa, whilst waiting for USA pivot to Asia Solomon Island leadership visiting Beijing, and same from Honduras left Beijing First group of 25 Honduran students completed transfer from from Taiwan province to Mainland universities, 145 to go, and the kids are, I am told, excited this multipolarity is new fangled, but actually not, just returning to natural am wondering what would happen should Team China offer swap of USD for RMB and re-calibrate all resource commodity trade at one go just swapping old paper for new paper, and resetting everything to BRICS trading currency, per all for all, and backed by gold supposing that all BRICS trade to be backed by all BRICS gold, what would be the implied gold pricing dunno Recommendation to Yellen, get back to Beijing, and fast, before August 22nd