Posted on 04/05/2023 12:32:14 PM PDT by RomanSoldier19
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.
(Excerpt) Read more at aseanbriefing.com ...
The erosion of reserve status for the Dollar is picking up speed. Gee, it’s almost as if our Regime wants America to slip.
How is that weaponizing the US dollar working out for you?
pedojoe told US they have F-16s and nukes so the dollar being placed in the junkyard is no stretch
Things are about to get crazy in the United States. Once those dollars start coming home imagine the inflationary pressures.
Worst of all most people won’t even understand why it is happening.
Where did all the free stuff go?
—> How is that weaponizing the US dollar working out for you?
‼️💣🔥
THIS
The government openly seeks to destroy the dollar so that they can launch their digital currency and control every facet of your life.
Monopoly money.
The United States government is anti-American
Waiting for the Zeeper troll reply. Given previous levels of intellect, it will go something like this.
ASEAN - Loser RuZZian Putler orc lovers! Go back to your banana-leaf huts before your economies collapse!
Folks, things can look pretty bleak before they don’t.
I don’t care for the way things look, but those other
currencies will need to prove they are stable. Good luck
if they aren’t.
The dollar may not be in as dire a state as some think.
Granted, things do not look peachy right now, but I think
it’s a bit too early to think we know how it will turn
out.
If Trump gets back in and the U. S. goes wildly positive,
other currencies may not look so rosy.
We’ll see how it goes.
bkmk
Maybe next time the US wants to shut a country out of the banking system (as we did to Russia last year), someone with an IQ over room temperature will put together a list of possible responses...
“Empty shelves.”
The grocery store shelves are lined with items priced at $4.79, $7.69, $10.99, $8.69, $7.19, $5.49, etc.
There were a lot of 2 for 1 deals. I took the Starburst jelly bean, Ritz cracker and Cabot cheese deals.
“China’s finances are in shambles.”
March 1, 1933
US banks....
Here how US Dollar has been weaponized by USA and other nations have begun to react
- Funding its welfare state, bailing out ailing industries and soft landing of business cycles and market corrections
- Offshoring of its inflation
- Using dollar as currency of trade to promote economic globalization and dependency on political globalization and than using sanctions and embargo as weapons against nations to achieve supremacist uni-polar world order.
So some nations are seeking refuge in bi-lateral trade rather than global trade built on dollar.
The Chinese Yaun is back by the full faith and credit of the CCP to force their citizens to build anything your country desires.
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