Thai central bank chief welcomes proposal to reduce U.S. dollar transactions

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Thai central bank chief welcomes proposal to reduce U.S. dollar transactions – from GATA

By Shotaro Tani
Nikkei Asian Review, Tokyo
Sunday, May 7, 2017

YOKOHAMA, Japan — Thailand’s central bank chief said Saturday he welcomed moves to wean Southeast Asia off its reliance on the U.S. dollar, as Japanese representatives put forward a bilateral currency swap proposal on the sidelines of the Asian Development Bank’s annual summit.

Japan’s proposed framework, if realized, would allow the 10 members of the Association of Southeast Asian Nations to withdraw up to 4 trillion yen ($40 billion) during times of financial crisis.

Although Bank of Thailand Governor Veerathai Santiprabhob declined to comment on specifics, saying the proposal was still in its preliminary stage and there remained “a lot of discussion that needs to be done,” he said he “very much welcomes initiatives” where “ASEAN countries and the Japanese government are working together to strengthen the region’s financial safety net.” …

… For the remainder of the report:

http://asia.nikkei.com/Spotlight/ADB-Annual-Meeting-2017/Thai-central-ba…

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Chris Powell

The Gold Anti-Trust Action Committee was organized in the fall of 1998 to expose, oppose, and litigate against collusion to control the price and supply of gold and related financial instruments. The committee arose from essays by Bill Murphy, a financial commentator on the Internet (LeMetropoleCafe.com), and by Chris Powell, a newspaper editor in Connecticut. Murphy's essays reported evidence of collusion among financial institutions to suppress the price of gold. Powell, whose newspaper had been involved in antitrust litigation, replied with an essay proposing that gold mining and investor interests should act on Murphy's essays by bringing antitrust lawsuits against financial institutions involved in the collusion against gold. The response to these essays was so favorable that the committee was formed and formally incorporated in Delaware in January 1999. Murphy became chairman and Powell secretary and treasurer.