BRICS + ACEAN: A New Era of World Currencies

Just recently we wrote that 40 countries want to join BRICS before the 2024 summit. So, there is such an association of countries as ACEAN. It was created in the 60s of the last century and includes 10 countries of Southeast Asia. The population is over 667 million people.

Summary. The development and economic integration of the countries of South and Southeast Asia is an interesting phenomenon in the modern world. International experts suggest that economic growth and per capita growth will be faster in Asia than in any other region of the world. Despite the fact that the region includes countries that are very different from each other in nature, the region has a lot of untapped economic potential.

Asia has changed global mineral demand over the past 20 years and will play a major role in shaping it in the coming decades. Understanding what is happening in the region is therefore of great importance to the global mining industry.

IN article The economic potential of the ACEAN countries is considered, with the role of India highlighted separately. According to the author, the region will take on some of the functions of stimulating the global economy as China's domestic economy slows down. The author suggests that the region's largest mineral and metallurgical states will use their resources to provide many types of mineral raw materials that other countries in the region will need for their industrialization.

America really needs this region

Will she be able to get it? Where will these countries go – to America or to BRICS? Ten ACEAN countries are ready to abandon the US dollar. Now that the US weaponization and debt metrics are wreaking havoc around the world, these ACEAN countries are ready to abandon the US dollar in trade, what are they doing Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam? They also see what is happening in the world. And they begin to work on the introduction of their own currency system. It became known that the currency is in the development stage and is being created to compete with the dollar and the euro. As Mishka Karas said in one famous film: HERE'S HELLO TO YOU.

Here are a couple more facts: Russia is the only country, a dialogue partner of this association and together they have already held 4 summits. Following the 4th summit on October 28, 2021, a comprehensive action plan was adopted for the implementation of the Russia-ASEAN strategic partnership for 2021-2025.

Interesting character – Elon Musk

Where are we with dollar value destruction, you might ask? pic.twitter.com/0LD8OggFqu

— Elon Musk (@elonmusk) July 22, 2024

Tesla CEO Elon Musk also recently shared the news of the US bankruptcy. Musk posted an image on the social network X titled “Devaluation of the US dollar”, hinting at the serious threshold the dollar is currently at. In addition, Elon Musk has spoken out more than once about why the US dollar is losing support around the world.

Musk recently said that US foreign policy is extremely one-sided, which ultimately weakens the economies of developing countries. According to him, it is the arrogance of the US government that is causing BRICS and ACEAN countries to abandon the US dollar. It's not clear at all whose team the guy plays on… When everyone is shouting about the inviolability of the dollar, what is this Musk doing… The only thing that comes to mind is that he is also from the digital team. J.D. Vance is there too.

Morgan Stanley Believes BRICS Won't Destroy US Dollar

While the Chinese yuan and Japanese yen are gaining momentum, concerns are growing about the fate of the US dollar. Many countries have begun to diversify their foreign exchange reserves. In addition, the whole world is expressing concern about the state of the US economy and the looming debt crisis of 2030.

However, according to the investment bank, these fears are exaggerated. Despite the actions of BRICS, Morgan Stanley assured that the US dollar cannot be dethroned. Morgan Stanley – isn't this the same bank that in 2008 also shouted that everything was fine, and then bam and bang-bang. Crisis. Well, who knew???

Author's opinion. What if ACEAN joins BRICS? What if those same 40 countries that are in line to join BRICS join? The dollar is indestructible? Well, I don't know… I'll give you an example of a brave French general. He had the courage to send a ship with paper to the US and demand that it be exchanged for gold (the dollar was backed by gold at the time). He did exchange it, but he paid dearly for it. America drew its own conclusions.

Today, who knows what guarantees the dollar? And who remembers the famous phrase: “To friends – everything, to enemies – the law!” America prints dollars, America writes laws. Who will stop it from printing new dollars and writing a law that all old dollars outside the US will be exchanged for new ones at a certain rate. For example, in this version:

1. For countries friends of America the rate is 1 to 100
2. For enemies the rate is 1 to 1000
3. A fiery greeting to our enemies.

Who can guarantee that this will not happen?

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