I am not good in world economics nor world affairs/politics and I am not a fan of USA monetary policies nor Mackinsay reports. I do agree with that USD value is based on “belief that USA economy will hold good or better” (not based on reserve gold). So USD and cryptocurrencies have in common “value based on belief”. I think THB is based on reserve gold + reserve USD and TH economy relies on foreign investment, exports, tourism (in USD) and ‘informal economic activities’ (THB). I think our problems may be fit in “local income - global price’ box (that is ‘low earning and low purchasing power in THB). Increasing GDP will not help unless we also move into ‘global income - global price’ or ‘local income - local price’ box. As US Fed increases the bank rate, USD pays more interest and becomes more desirable (believable?), believes in THB drop –as we can see now. When US Fed has to lower bank rate (say in a recession to stimulate economic activities), then USD would be less desirable and [money] investors will look for other more desirable currencies - most likely now is the Swiss Franc, JPY, KRW, Gold, Fuels/Energy, High Tech, etc. But CNY has clouds of uncertainties (from internal Real Estate, high tech competition/restriction and investment overseas) and bias against it.

Other points in that circular (claimed to be from Mackinsay reports) are not easy to verify or comment on. So I pass.