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dragut

2,200 Posts.

07/04/23

10:41

Post #: 67183016
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Originally posted by Cosmoterios: ↑

ASEAN Finance Ministers and Central Banks Consider Dropping US Dollar, Euro and Yen, Indonesia Calls for Phasing Out Visa and Mastercard
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.

https://www.aseanbriefing.com/news/asean-finance-ministers-and-central-banks-consider-dropping-us-dollar-euro-and-yen-indonesia-calls-for-phasing-out-visa-and-mastercard/

The bottom line is: no country will put all their eggs into any ONE Basket. NOBODY (country) is going to put all their Forex Reserves into any one country where it could be seized.

In the future - if this does not break out into WW3, every country will be settling their trades in a mixture of currencies.

That's the new world - regardless of whether the US, UK and EU, like it or NOT.

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They could consider for dozens of years before action.
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