A New Trade Currency Is Coming Soon

Unreported by western media, there are some interesting developments taking place in Asia over the future of currencies. 

Earlier this summer, according to goldmoney.com, it emerged that Sergei Glazyev, a senior Russian economist and Minister in charge of the Eurasian Economic Commission (EAEU), was leading a committee planning a new trade currency for the Eurasian Economic Union. 

As put forward in Russian and EAEU media, the new currency is to be comprised of a mixture of national currencies and commodities. A weighting of some sort was suggested to reflect the relative importance of the currencies and commodities traded between them. 

At the same time, the new trade settlement currency was to be available to any other nation in the Shanghai Cooperation Organisation and the expanding BRICS membership. The ambition is for it to become an Asian-wide replacement for the US dollar. 

Whether you know it or not, the greenback's future is doomed!

At home, Malaysian political parties have started to gear up and getting ready for GE15. 

PKR president Anwar Ibrahim says the party will go all-out to reclaim constituencies from those who betrayed the voters’ trust in them. 

His party kickstarted their first Rapat Mega (mega gathering) event yesterday in Melawati, an area under the Gombak constituency, whose MP, Azmin Ali, defected from PKR and played an instrumental role in toppling the Pakatan Harapan government through the Sheraton Move in February 2020. 

It’s about time, PKR (and PH) take the battle to the enemy’s gate!