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ASEAN Finance Ministers and Central Banks Consider Dropping US Dollar, Euro and Yen, Indonesia Calls for Phasing Out Visa and Mastercard
https://www.aseanbriefing.com ^ | March 29, 2023 | Chris Devonshire-Ellis

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 ...


TOPICS: News/Current Events
KEYWORDS: 1sanctioncardtoomany; armagedon; asean; asia; brics; currency; dollar; mastercard; visa
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1 posted on 04/05/2023 12:32:14 PM PDT by RomanSoldier19
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To: RomanSoldier19

The erosion of reserve status for the Dollar is picking up speed. Gee, it’s almost as if our Regime wants America to slip.


2 posted on 04/05/2023 12:37:53 PM PDT by dodger
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To: RomanSoldier19

How is that weaponizing the US dollar working out for you?


3 posted on 04/05/2023 12:38:04 PM PDT by 2banana (Common ground with islamic terrorists-they wacnto diese for allah and we want to arrange the meeting)
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To: RomanSoldier19

pedojoe told US they have F-16s and nukes so the dollar being placed in the junkyard is no stretch


4 posted on 04/05/2023 12:38:12 PM PDT by no-to-illegals (The enemy has US surrounded. May God have mercy on them.)
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To: RomanSoldier19

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?


5 posted on 04/05/2023 12:38:56 PM PDT by packagingguy
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To: 2banana

—> How is that weaponizing the US dollar working out for you?

‼️💣🔥

THIS


6 posted on 04/05/2023 12:42:33 PM PDT by aMorePerfectUnion (Fraud vitiates everything)
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To: RomanSoldier19
The rush to de-dollarization is picking up speed. Clamoring to embrace BRICS and expecting the Chinese yuan to replace the US Dollar. China's finances are in shambles. It's a really poor place to hang your hat after ditching all of your US Dollar assets. If we get to a place where people relying on USD assets can't function and call a "force majeure", the USD value drops to zero, banks close, stores close. Everything grinds to a halt. Meanwhile, those who ditched the USD will discover their intended replacement is a very rickety mess. Lots of unhappiness on the horizon.
7 posted on 04/05/2023 12:48:45 PM PDT by Myrddin
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To: aMorePerfectUnion
Empty shelves. Food riots. Perhaps more generalized riots and looting as the population grapples with having a zero value currency and a killed economy.
8 posted on 04/05/2023 12:51:17 PM PDT by Myrddin
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To: RomanSoldier19

The government openly seeks to destroy the dollar so that they can launch their digital currency and control every facet of your life.


9 posted on 04/05/2023 12:55:23 PM PDT by yuleeyahoo (The nation which can prefer disgrace to danger is prepared for a master and deserves one. Hamilton)
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To: packagingguy

10 posted on 04/05/2023 12:56:38 PM PDT by RomanSoldier19 (Res ad Triarios venit;“We are your ghosts, in this game played by monkeys, organized by lunatics” )
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To: packagingguy

Monopoly money.


11 posted on 04/05/2023 12:59:45 PM PDT by HighSierra5 (The only way you know a commie is lying is when they open their pieholes.)
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To: dodger

The United States government is anti-American


12 posted on 04/05/2023 1:02:21 PM PDT by Scott from the Left Coast (Make Orwell Fiction Again)
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To: RomanSoldier19

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!


13 posted on 04/05/2023 1:09:00 PM PDT by PGR88
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To: RomanSoldier19

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.


14 posted on 04/05/2023 1:10:12 PM PDT by DoughtyOne (I pledge allegiance to the flag of the USofA & to the Constitutional REPUBLIC for? which it stands.)
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To: RomanSoldier19

bkmk


15 posted on 04/05/2023 1:29:21 PM PDT by sauropod (“If they don’t believe our lies, well, that’s just conspiracy theorist stuff, there.”)
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To: RomanSoldier19

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...


16 posted on 04/05/2023 1:35:31 PM PDT by Captain Walker (Men never do evil so completely and cheerfully as when they do it from religious conviction.-Pascal)
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To: Myrddin

“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.


17 posted on 04/05/2023 1:50:57 PM PDT by Brian Griffin
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To: Myrddin

“China’s finances are in shambles.”

March 1, 1933

US banks....


18 posted on 04/05/2023 1:54:02 PM PDT by Brian Griffin
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To: RomanSoldier19

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.


19 posted on 04/05/2023 2:11:30 PM PDT by kp2hot
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To: Myrddin

The Chinese Yaun is back by the full faith and credit of the CCP to force their citizens to build anything your country desires.


20 posted on 04/05/2023 2:14:24 PM PDT by shotgun
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