Tuesday, March 28, 2017

$lowly but $ure: DE-dollar1ZAT10N

pelan tapi MEYAKINKeN, proses PENGURANGAN KETERGANTUNGAN pada DOLLAR amrik tlah terjadi : RUSIA, CHINA, IRAN, IMF, et all MOVE ON (less dollar usages)
simak posting yang gw link di atas, betapa REAL1$T1$ para pemimpin dunia membaca imbas dolarisasi terhadap ekonomi mreka, n rakyat mreka. Saatnya meninggalkan ketergantungan mutlak pada dolarisasi. TIME2MOVEonAWAYfromUS$

Penggunaan YUAN di Indonesia



By: TLB
Published February 26, 2016, in Wealth Abuse
On February 16th, The Washington Post printed the article, “It’s time to kill the $100 bill.” This came on the heels of a CNNMoney item, the day before, entitled “Death of the 500 euro bill getting closer.” The former cited a recent Harvard Kennedy School working paper, No. 52 by Senior Fellow Peter Sands, concluding that the abolition of high denomination notes would help deter “tax evasion, financial crime, terrorist finance and corruption.” In recent days, former Treasury Secretary Larry Summers, ECB President Mario Draghi, and even the editorial board of the New York Times, came out in support of the elimination of large currency notes. Apart from the question as to why these calls are being raised now with such frequency, the larger issue is whether these moves are actually needed or if they merely a subterfuge for more complex economic manipulations by central banks to extend control over private wealth.

In early 2015, it was reported that Spain had already limited private cash transactions to 2,500 euros. Italy and France set limits of 1,000 euros. In France, all cash withdrawals in excess of 10,000 euros in a single month must be reported to government agencies. In the U.S., such limits are $10,000 per withdrawal. China, India and Sweden are among those with plans under way to eradicate cash.
On April 20, 2015, the Mises Institute reported that Chase, a subsidiary of JPMorgan Chase and a bailout recipient of some $25 billion (ProPublica, 2/22/16), had announced restrictions on its customers’ ability to use cash in the payment of credit cards, mortgages, equity lines and auto loans. Before that, on April 1, 2015, Chase, in concert with JPMorgan, updated its safe deposit box lease agreement to provide, “You agree not to store any cash or coins [including gold and silver] other than those found to have a collectible value.”
The war on cash unquestionably has extended from government into the private banking sector. But the public is predominantly unaware of the ever-increasing encroachment into individual privacy and freedom.
On February 5, 2016, The New York Times reported, “the United States could face a new recession in 2016 due to a ‘perfect storm’ of economic conditions.” Ten days later, in an introductory statement, Draghi told a European Parliamentary Committee that, “In recent weeks, we have witnessed increasing concerns about the prospects for the global economy.”
When consumers worry about the economy, unemployment and their own finances, spending on non-essentials diminishes. Caution results also in paying down loans and hoarding cash.
When economic growth falters, central banks lower interest rates and inject funds into the economy. But if consumer confidence falls further, cash hoarding causes a fall in the velocity of money. This stimulates central banks to discourage the hoarding of cash by introducing negative interest rates to force deposits out of banks. On February 10th, during her congressional testimony, Fed Chair Janet Yellen admitted that there had been a discussion but never fully researched “the legal issues”. However, her Vice-Chair, Stanley Fischer, already had told the Council on Foreign Relations, nine days earlier, that the Fed had discussed negative rate policy all the way back in 2012.
Should negative rates fail to force funds out of banks, governments may look to limit, and even forbid, the use of cash in large transactions. This is tantamount to a war on cash as part of an effort to eliminate citizens’ control over their wealth.
Furthermore, a war on cash could extend even to seizure of cash deposits under certain circumstances. The confiscation of bank deposits may seem remote to Americans. However, the 2013 Cypriot banking crisis exposed the new central bank stance of ‘bail-ins’ whereby deposits could now be frozen and even confiscated to rescue a bank!
Most of the great economic growth and apparent prosperity of the past 45 years, since the U.S. broke its dollar’s last link to gold, has been financed by credit-unimaginable trillions of dollars of credit. At the heart of this massive credit system are the banks.
The current collapse of oil prices places pressure on the sovereign wealth funds of oil-rich nations to reduce deposits and to sell securities. Lower deposits reduce the banks’ ability to lend and generate profits. If, simultaneously, a shrinking economy leads to bankruptcies and non-performing loans, banks would appear not only less profitable, but increasingly risky. Currently, banks are experiencing many of these pressures, which threaten a credit shortage just when it is needed most to boost confidence. This helps to explain why the current downturn in markets is being led by the financial sector.
To help make sure that depositors’ money stays in banks despite the negative rates, governments have proposed measures to eradicate opportunities to pay in cash. These measures are camouflaged politically as ‘protective’ means against money laundering, especially by terrorists.
But perhaps the most insidious of government motivations to ban cash is to increase the capability of surveillance over all spending by citizens and corporations. Undoubtedly, this makes it harder for anyone to shield income from the taxman, but it also makes it more difficult to achieve any type of anonymity in the marketplace. Soon there may be no legal place to shield legitimate wealth or spending patterns from the eyes of politicians.
Negative interest rates combined with the eradication of cash appear as a desperate attempt to control global private wealth. Jamie Dimon is one of the world’s most astute and powerful individual bankers.
On February 11th, he invested some $26.6 million in the depressed stock of his bank, JPMorgan Chase. Reported as demonstrating confidence, it may be that Dimon sees the stock price recovering strongly when it is realized more widely just how much the banks might benefit from negative rates and the erosion of cash held privately outside the banks.
President Nixon’s decision to unilaterally abolish the last remnants of a gold standard in 1971 heralded a nuclear age for international trade in which nations looked to gain advantage through serial debasement of their currencies and make up the difference with massive debt creation, unfettered by any link to gold. Similar to the nuclear strategy of mutually assured destruction, it set international trade on a course of mutually assured economic destruction.
The size and scope of the political, economic and financial problems that now challenge the relative stability and tranquility of developed societies are unprecedented. Should the war on cash prove unsuccessful in its early stages, banks could be closed for long periods.
Investors should be aware of such possibilities and consider whether to hold cash and precious metals prudently outside the banking system. Better to be even months too early than a second too late should we be left facing a bank’s closed doors.

John Browne is a Senior Economic Consultant to Euro Pacific Capital.



🙌
Bisnis.com, JAKARTA- Indeks dolar Amerika Serikat rontok ke level terendah empat bulan perdagangan terakhir.
Indeks dolar AS pada pk. 06.04 WIB, Selasa (28/3/2017) turun 0,46% ke level 99,166, seperti dikutip Bloomberg
Kegagalan reformasi perawatan kesehatan pada Jumat di parlemen, menyebabkan pasar mempertimbangkan kembali ekspektasi stimulus AS di bawah pemerintah Presiden Donald Trump.
Pasar juga mencoba untuk menemukan tingkat keseimbangan baru, setelah indeks dolar AS dan bursa saham melemah.
Pasar akan menggunakan sesi mendatang untuk mengukur kemampuan administrasi Trump guna mendorong realisasi kebijakan reformasi pajak yang dinilai menjadi pilar program stimulus fiskal.
Seperti diketahui bursa saham AS melemah pada penutupan perdagangan Senin atau Selasa pagi WIB.
Indeks The S & P 500 melemah 2,39 poin atau 0,10% ke 2.341,59 pada penutupan perdagangan Senin (27/3/2017).
Indeks Dow Jones Industrial Average turun 45,74 poin atau 0,22% ke 20.550,98.
Bursa saham AS melemah di saat pasar masih merespons kegagalan Presiden Donald Trump untuk meloloskan RUU Kesehatan untuk menggantikan Obamacare.
Kegagalan tersebut meruntuhkan optimisme pasar jika Trump bisa segera menerapkan kebijakannya untuk memacu pertumbuhan ekonomi negaranya.
Trump mengatakan siap untuk melanjutkan reformasi pajak.
 "Peraturan reformasi fiskal diprediksi akan mengambil waktu lebih lama dari yang diharapkan sebelumnya," kata Tan Kai Xian, Analis Konsultasi GaveKal Research daalm risetnya dikutip Bloomberg, Selasa (28/3/2017).

Pasar saham AS juga menyoroti gerak minyak mentah, mengingat kekhawatiran bengkaknya stok global masih terjadi di saat anggota negara pengespor (OPEC) berjanji memperpanjang emangkasan produksi untuk meningkatkan harga.
💕
By Anthony EspositoDan Freed and Noe Torres | ACAPULCO, MEXICO

U.S. President Donald Trump's push to force U.S. industry to bring jobs home is opening investment avenues for Chinese companies in Mexico, an executive with Industrial and Commercial Bank of China (ICBC), the country's largest lender, said on Friday.

Fears of a hit to foreign investment ran high when Ford Motor Co (F.N) canceled a $1.6 billion plant in Mexico's central state of San Luis Potosi in January.

Trump, who had railed against U.S. manufacturers investing in Mexico, hailed the decision as a major victory, but Ford put it down to declining demand for small cars.

Yaogang Chen, head of ICBC's (601398.SS)(1398.HK) Mexico unit, said U.S. industry's loss could be China's gain.

"If some U.S. investment projects don't (happen), there has to be somebody to invest. ... If Chinese companies think it is profitable, they will invest," he said in an interview on the sidelines of a banking conference in the resort of Acapulco.

In February, China's Anhui Jianghuai Automobile Group Co Ltd (JAC Motor) (600418.SS) and Mexico's Giant Motors, along with distributor Chori Co Ltd (8014.T), said they would invest over $210 million in an existing plant to build SUVs in the central state of Hidalgo.

Prior to Trump's campaign against U.S. manufacturers shipping jobs overseas, Chinese companies were making tentative inroads into Mexico.

China's BAIC Motor Corp Ltd (1958.HK) in June 2016 started selling in Mexico its own cars imported from China and has said that it will look into building an industrial plant in Mexico to produce cars and electric vehicles.

BAIC is already a client of ICBC's in Mexico.

ICBC, one of the world's top banks by market capitalization and assets, received its banking license in Mexico in 2014 and started operations there in mid-2016.

"JAC, we think, will be a client of ours in Mexico too," Chen said.

Still, Chinese foreign direct investment in Mexico is a tiny fraction of what U.S. firms have plowed in over the years.

State-controlled ICBC expects to grow its assets and loan portfolio in Mexico tenfold over the next three years to some 10 billion pesos ($533 million), Chen said.

The executive said ICBC aims to offer a service to allow clients to convert Mexican pesos to Chinese renminbi and vice versa, and make cross-border transactions cheaper.



(Reporting by Anthony Esposito, Dan Freed and Noe Torres; Editing by Richard Chang)

👄

Jakarta - Bank Indonesia (BI) dan Bank of Korea menandatangani perpanjangan perjanjian kerja sama Bilateral Currency Swap Arrangement (BCSA). Penandatanganan ini dilakukan oleh Gubernur Bank Indonesia (BI) Agus Martowardojo dan Gubernur Bank of Korea Joyeol Lee.


Adapun, tujuan kerja sama ini untuk mendorong perdagangan bilateral dan memperkuat kerjasama keuangan yang bermanfaat bagi pengembangan ekonomi kedua negara.

Gubernur Bank Indonesia Agus Martowardojo mengatakan, kerjasama ini akan mengembangkan ekonomi kedua negara, bahkan diyakininya perdagangan dan investasi akan berkembang dengan dukungan pembiayaan atau pembayaran local currency.

"Hal ini sejalan untuk diversifikasi mata uang yang digunakan dalam pengembangan ekonomi kedua negara, jadi kami sambut baik kesepakatan Indonesia dengan Korea ini," kata Agus di Kementerian Keuangan, Jakarta, Senin (6/3/2017).

BCSA memungkinkan swap mata uang lokal antara kedua bank sentral senilai KRW10.7 triliun atau Rp115 triliun. Secara khusus, perjanjian ini juga akan menjamin penyelesaian transaksi perdagangan dalam mata uang lokal antara kedua negara sekalipun dalam kondisi krisis, guna mendukung stabilitas keuangan regional.

BSCA pertama kali ditandatangani pada 6 Maret 2014, di mana perjanjian ini berlaku efektif selama tiga tahun dan dapat diperpanjang atas kesepakatan kedua belah pihak.

Sebelumnya, kata Agus, sudah pernah dilakukan juga kerjasama dengan beberapa negara, yang tujuannya juga mengembangkan ekonomi di antara dua negara, seperti dengan China, Jepang dan Australia.

"Fasilitas dengan China itu fasilitasnya bukan hanya meliputi untuk dukung perdagangan tetapi juga berjaga-jaga kalau terjadi krisis sehingga ini jadi suatu produk lebih besar lagi," jelasnya.

Saat ini, sambung Agus, BI akan terus menindaklanjuti kegiatan serupa dengan para mitra dagang Indonesia. Seperti local currency settlement Indonesia dengan Malaysia dan Thailand.

"Ini akan kita tindaklanjuti antara dua itu sudah bisa diselesaikan. Sekarang sedang dalam taraf tindak lanjut untuk bisa diimplementasikan di semester kedua 2017," tandasnya.(mkj/mkj)

 Abstract In the last decade, a group of Latin American countries (Bolivia, Paraguay, Peru, and Uruguay) experienced a gradual, yet sustained decline in financial dollarization. This paper documents the stylized facts and uses a standard VAR approach to examine the drivers of both deposit and credit de-dollarization. It finds that the exchange rate appreciation has been a key factor explaining deposit de-dollarization. The introduction of prudential measures to create incentives to internalize the risks of dollarization (including an active management of reserve requirement differentials), the development of a capital market in local currency, and de-dollarization of deposits have all contributed to a decline in credit dollarization. Continuing efforts on these fronts, while maintaining macroeconomic stability and strong fundamentals, would help deepening de-dollarization. JEL Classification Numbers:E50; G20; G21; G28 Keywords: de-dollarization; banking system. Author’s E-Mail Address: mgarciaescribano@imf.org; ssosa@imf.org dedolarisasi di amerika latin, menurut IMF



JAKARTA. Presiden Joko Widodo menginginkan pelaku usaha tidak lagi berpatokan pada mata uang dollar Amerika Serikat (AS) dalam bertransaksi. Dengan begitu nilai tukar rupiah bisa menguat.
Kepala Bappenas Bambang Brodjonegoro mengakui, saran ini tak mudah dilaksanakan. Transaksi perdagangan dengan berbagai negara rata-rata menggunakan dollar AS.
Meski demikian, kata dia, semua tergantung pada perjanjian perdagangan yang dibuat baik oleh korporasi maupun oleh pemerintah. "Bisa saja mengganti mata uang perdagangan dilakukan sebagian," ujarnya, Jumat (9/12). Misalnya untuk perdagangan dengan China, mengingat ekspor-impor ke China merupakan yang terbesar dibandingkan dengan Jepang, AS, India, dan Uni Eropa.
Pada Oktober 2016 saja, nilai ekspor ke China mencapai US$ 1,67 miliar. Sedangkan nilai impor dari China di bulan yang sama mencapai US$ 2,4 miliar. Bahkan jika ditarik dari Januari–Oktober 2016, nilai impor dari China mencapai US$ 24,47 miliar. Bandingkan dengan impor Indonesia dari AS yang hanya US$ 644 juta pada Oktober dan US$ 5,9 miliar sepanjang Januari-Oktober 2016.

Bambang mengatakan, untuk mengurangi impor ini, pemerintah akan mengembangkan industri manufaktur. Tapi langkah ini membutuhkan waktu yang tidak sebentar.
👀

zero hedge: Step-by-step Russia, China and other emerging economies are taking measures to reduce their dependence on the US dollar, and as SputnikNews detailed, F. William Engdahl warns - referring to Russia's crude oil benchmark initiative - this move could deal a dramatic blow to the "petrodollar's" dominance.
Russia has taken a significant step which will undermine the current Wall Street oil price monopoly: Russia's own crude oil benchmark futures contract will price oil in rubles and no longer in US dollars, American-German researcher, historian and strategic risk consultant F. William Engdahl remarks.

"The move is part of a longer-term strategy of decoupling Russia's economy and especially its very significant export of oil, from the US dollar, today the Achilles Heel of the Russian economy… It is part of a de-dollarization move that Russia, China and a growing number of other countries have quietly begun," the American researcher writes in his recent article for New Eastern Outlook.

He explains that the setting of an oil benchmark price is a cornerstone of the method used by omnipotent Wall Street bankers to control world oil prices. "Oil is the world's largest commodity in dollar terms," the historian stresses.

Engdahl focuses attention on the fact that the sale of oil denominated in US dollars is essential for the support of the American currency's leading role. Indeed, the US dollar's status as world's major reserve currency is one of two pillars of Washington's hegemony since the end of the Second World War (the other one is the US military supremacy), the historian emphasizes.

"Today, prices for Russian oil exports are set according to the Brent price in as traded London and New York. With the launch of Russia's benchmark trading, that is due to change, likely very dramatically. The new contract for Russian crude in rubles, not dollars, will trade on the St. Petersburg International Mercantile Exchange (SPIMEX)."
And, as Bloomberg reports, it appears that day is getting close...
The nation’s largest commodity exchange, whose chairman is Putin ally Igor Sechin, is courting international oil traders to join its emerging futures market. The goal is to increase revenue from Urals crude by disconnecting the price-setting mechanism from the world’s most-used Brent oil benchmark. Another aim is to move away from quoting petroleum in U.S. dollars.

BI Terus Dorong Pengurangan Pemakaian Dolar

Jum'at, 26 Juni 2015 16:45:58
Reporter : Renni Susilawati
beritajatim

Surabaya (beritajatim.com)--Bank Indonesia (BI) berupaya keras mendorong penggunaan rupiah di wilayah Negara Kesatuan RI. Diharapkan, rupiah bisa menjadi berdaulat dan tuan rumah di negaranya sendiri.

"Tidak tertutup kemungkinan juga akan berdampak secara ekonomis. Bisa mengurangi tekanan permintaan dollar sehingga rupiah bisa menguat," ujar Deputi Direktur Departemen Kebijakan dan Pengawasan Sistem Pembayaran Bank Indonesia, Syafii seusai Sosialisasi Kewajiban Penggunaan Rupiah di Wilayah Negara Kesatuan RI di kantor Bank Indonesia, Kamis (25/6/2015).

Seperti diketahui, nilai tukar yang lazim disebut kurs mempunyai peran penting dalam rangka tercapainya stabilitas moneter dan dalam mendukung kegiatan ekonomi. Nilai tukar yang stabil diperlukan untuk terciptanya iklim yang kondusif bagi peningkatan kegiatan dunia usaha.

Kondisi pasar valuta asing (valas) di dalam negeri seringkali mengalami kelebihan permintaan (net demand) valas dan penggunaan valas untuk transaksi yang dilakukan di dalam negeri akan memberikan tambahan tekanan terhadap depresiasi nilai tukar rupiah. 

Hal ini berpotensi mengganggu stabilitas nilai tukar rupiah dan menambah kompleksitas kebijakan moneter dan nilai tukar. Karena itu, peningkatan demand valas harus dibatasi untuk mengurangi tekanan nilai tukar rupiah.

Pada tanggal 31 Maret 2015, BI telah menerbitkan ketentuan pelaksanaan UU mata uang yaitu PBI No.17/3/PBI/2015 tentang Kewajiban Penggunaan Uang Rupiah di wilayah NKRI. Untuk mengatur pelaksanaan PBI tersebut, pada 1 Juni 2015 BI menerbitkan Surat Edaran No. 17/11/DKSP perihal Kewajiban Penggunaan Rupiah di Wilayah NKRI. Aturan ini akan mulai berlaku pada 1 Juli 2015 mendatang.

"Karena itu, kami terus melakukan sosialisasi. Soal kesiapan, masih banyak perusahaan yang bertanya mengenai ekspatriat dan perjanjian yang diamandemen," ujarnya. 

Dikatakannya, peraturan BI memperbolehkan ekspatriat digaji bukan dengan rupiah dalam beberapa kondisi.

Mengenai kendala, dikatakan Syafi'i hanya masalah kebiasaan psikologis saja. "Selama ini gunakan dollar sekarang harus rupiah. Di awal akan agak sulit. Namun setelah 1 Juli akan dimonitor terus. Akan dilakukan pengawasan meskipun untuk mengawasi keseluruhan memang berat," tandasnya.[air/rea]