Posted on 05/21/2023 2:47:01 PM PDT by jimwatx
BRICS is not the only group of countries that are looking to end reliance on the U.S. dollar in 2023. A new bloc of ASEAN countries has come forward and agreed to ditch the dollar for global trade. The ASEAN alliance is looking to promote their native currencies for cross-border transactions by sidelining the USD. The leaders of 10 Southeast nations recently signed a declaration to stop using the U.S. dollar for international trade and aim to promote their local currencies instead
ASEAN is a bloc of 10 countries that compromise Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. Therefore, after BRICS, it is the ASEAN bloc of countries that is looking to follow suit.
The 10 nations have jointly accepted to reduce U.S. dollar payments and increase global settlement in native currencies. Moreover, international trade will be settled within the existing bloc of 10 countries and not with other nations out of the ASEAN alliance.
The move will bolster the power of ASEAN nations’ local currencies and lead the U.S. dollar into a gradual decline. This is one of the few steps taken by developing Eastern nations to take on the dollar. Also, if the momentum continues, many other developing could join together to end the U.S. dollar dominance.
5 BRICS & 10 ASEAN Countries Take on the U.S. Dollar ASEAN Leaders Countries Source: Reuters The official declaration of the ASEAN countries states that the bloc will advance local currencies and not the U.S. dollar. The declaration is signed and accepted by the respective nations’ leaders and remains in full force. Additionally, ASEAN nations said that their goal is to strengthen bilateral and multilateral payment activities among each other.
“We adopted the ASEAN Leaders Declaration on advancing regional payment connectivity and promoting local currency transaction to foster bilateral and multilateral payment connectivity arrangements to strengthen economic integration by enabling fast, seamless, and more affordable cross-border payments across the region,” the declaration read.
Everything is going to change after the US dollar is no longer a viable reserve currency. And that day is coming. Biden will see to it.
No the Eurasia countries are seeing to it. This has been in the works a long time and now it’s here. This is due to our own arrogance and foreign policies.
As long as the US keeps the airways and seaways clear for commerce, the dollar will be the reserve currency.
You mean there are people out there who don’t like us?
My solution: Get rid of the income tax and put a tariff on all imports to make up for the (reduced)budget.
They can retaliate but we’ll still buy with income tax savings. They won’t buy anything.
Trade them in for ATF. The ultimate in “barterables”.
I think that’s why the neocons have their sights set on instigating a military conflict with China to break up these alliances. They want China to invade Taiwan so we have an excuse to enact a trade embargo against them.
Those countries are throwing the Golden Calf money changers under the bus and squashing them like bugs.
This also ensures that the Golden Calf puppet masters will initiate yet another world war.
Watch for an earth shattering event in Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand or Vietnam that will force a US military response.
The globohomos will not take this lying down.
“As long as the US keeps the airways and seaways clear for commerce, the dollar will be the reserve currency.”
Interestingly, there are plenty of people claiming that the days of the dollar as the reserve currency are over, but I see nobody in line at the bank trading in their dollars for rubles, rands or reals.
With a relatively decently run country they’ll beg to use dollar again. The Chinese are like the mafia. They’ll squeeze these fools to death
Very logical...
After all, what sensible nation would use the monetary system of a communist nation as support...
Yeah I think they are planning for war as we speak. Hopefully it doesn’t turn into WW3. This is why I also think they will never allow Trump back in office, because they’re afraid he won’t go along with their plans. They will either put him in jail or take his plane down if they get desperate enough. Gonna be an interesting election season.
This is a good reason for Mr. PedoDemento to stop sending any American Taxpayer dollars and aid to these sh*tholes.
Not yet.
But recall the line from Hemingway --
"How did you go bankrupt?"
"Two ways. Slowly, at first. Then very quickly."
You'll see lines at the banks IF we get to that "very quickly" stage. But the idea is that re-alignments by BRICS and ASEAN just may be the "slowly" part.
All those US Dollars are going to flow back to the US and bring about even more inflation.
With the lack of any real economic growth and going into a deep, deep recession and an increasing number of de-dollarization participants, you’ll see hyper-stagflation.
Macgregor? He hasn’t been right about anything in a hell of a long time.
More Biden success, like his Afghanistan and Ukraine policies.
Ah, the ol’ “protection racket”!
Well he’s just mentioning here that 81 nations are meeting in Russia next moth to discuss gold backed currencies. That’s a fact not speculation and something of a big deal. Well maybe not to you since you’re just an MSM dupe anyway.
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