Reserve Bank of Australia and The Peoples Bank of China to go around USD for trade !!!

This is big news.

Australia is going to allow full conversion between the AUD and the Yuan.

Australia is Americas strongest ally in the pacific. I am shocked that Australia is dumping the USD for settling international trade deals. This is huge. How long before the rest of America 'friends' do the same? Why the heck are we paying for stuff with the added expense of using the USD? Protection? What were they? The mafia? They dont scare anyone these days.

Is this a response to the Currency Wars that America have started with the insane 'quantitative easing'? Australia was not happy about America and friends pushing the price of the AUD so high in the last month or so.

This is a very bad development for America. Is Australia destined to become the next member of the BRICS? BRICSA?

the journal, published by the Australian Chamber of Commerce in Shanghai, ANZ's Asian chief executive Gilles Plante said the government should press ahead with its plans to allow full convertibility of the Australian dollar and the yuan.

The Treasury and the Reserve Bank have held talks with the People's Bank of China to allow full conversion between the two currencies. Negotiations are expected to continue in Sydney early next year. The move would benefit exporters, who would not have to settle deals in US dollars.

www.theaustralian.com.au...
The International Community has no real reason not to dump the USD for use in international trade.

Americans should be very ashamed of their financial and political leaders. And embarrassed. I wonder who the next nation will be to dump the USD for International Trade. Its looking more and more likely each day that the USD will be unseated as Reserve Currency. God help America then.

reply to post by spangledbanner


Why are you blaming the Australians, your federal reserve keeps printing money to get the US out of the mire financially. You cannot expect people to keep trading in USD, when the Federal Reserve is effectivly making it worthless.

yeah the dollar was going to collapse last year and the year before that blah blah blah


enjoy your new partner

Originally posted by michael1983l
reply to post by spangledbanner

 

Why are you blaming the Australians, your federal reserve keeps printing money to get the US out of the mire financially. You cannot expect people to keep trading in USD, when the Federal Reserve is effectivly making it worthless.

I agree.

Its such a shock for Australia to do this though. I guess they did just release a White paper called The Asian Century. And Australia is in the perfect position to take advantage as the pacific becomes the centre of the world.

Whoa there tiger
How short memories are
Lets not forget that china has been devaluing its currency for years to up its trade and GDP
We have been talking about and warned for years that china was going to start a currency/trade war with these actions and china itself, through political means was pressured to stop this ................makes one wonder if the financial collapse was pre planned in order to facilitate the devaluing of western currencies in order to compete

But please let's not claim America started this

And no I'm not American

Well thanks a lot Aussie government.. You will realise you screwed up when you look to the ocean and see an armarda of aircraft carriers looking back at you

reply to post by Neocrusader


Nobody said that the USA did start this. I am just pointing out that the Federal Reserves recent and ongoing actions make it increasingly difficult for their allies to trust their currency.

Originally posted by Neocrusader
Whoa there tiger
How short memories are
Lets not forget that china has been devaluing its currency for years to up its trade and GDP
We have been talking about and warned for years that china was going to start a currency/trade war with these actions and china itself, through political means was pressured to stop this ................makes one owner if the financial collapse was pre planned in order to facilitate the devaluing of western currencies in order to compete

But please let's not claim America started this

And no I'm not American

I think that its debatable.

Most of that rhetoric comes from anti-China politicians.

Lat I heard, the US Treasury admited that China was not a currency manipulator, despite what desperate politicians say.

On Tuesday, the Treasury department said China did not currently meet the legal requirements to be a currency manipulator. Read more: www.smh.com.au...

What the Federal Reserve is doing is blatant.

Its not just China and Australia that are angry about it. The South Americans are furious. America needs to wake up to itself. And fast.

Originally posted by DarknStormy
Well thanks a lot Aussie government.. You will realise you screwed up when you look to the ocean and see an armarda of aircraft carriers looking back at you

Do you have any idea how big our coastline is? Transpose a map of Australia over a map of the US and realise that we have 30million people in approximately the same land area as the US. Lots of places to hide

Originally posted by Kryties

Originally posted by DarknStormy
Well thanks a lot Aussie government.. You will realise you screwed up when you look to the ocean and see an armarda of aircraft carriers looking back at you

Do you have any idea how big our coastline is? Transpose a map of Australia over a map of the US and realise that we have 30million people in approximately the same land area as the US. Lots of places to hide

edit on 24/12/2012 by Kryties because: (no reason given)

Hell yeah, flee to the Grampians

All joking aside, the US would have a hard time going to war with Auz (although I know it would never happen) because of the logistics accross the pacific and the fact that Australia is effectivly a very large Island.

reply to post by michael1983l


Well apparently we can detect their stealth aircraft with the over the horizon Radar at Jindalee.

And our submarine crews with a noisy diesel subs can avoid detection from sub hunters...

We might give them a run for them money...for a little while at least!

Oh no I agree entirely
Infact it could be said the US has been conducting a financial/trade war for decades, depends how you choose to look at it
And to be perfectly honest I value the Chinese gov over the US's by far
The US gov bullied and manipulated its way to where it is ( same as most empires )....well, over the last 70 odd years ....probably a bit longer ...........and where has that got us all

It's time for a change ........overdue change
I suppose we can only hope that change will come, and for the benefit of all of us, not just the select few

I often ponder ......and stick with me on this
In centuries past the powerful nations had a kind of protocol, certain manners when it came to trade and currency developed over the centuries of their existence

Then the good old US of A came along ......the land of opportunity .......where we're gonna do things differently .....make our own rules
Thus these gentlemen's agreements with regards to trade were left by the wayside by the US which made it powerful
Eventually the rest of us had to follow suit in order to compete and remain sustainable against this rebellious infant of a nation, and it's been a down hill slide ever since

Like giving a child your wallet, bank card, keys to the house and car and your gun
That child would have no knowledge or respect for the power it now wields .......it ain't gonna end well

reply to post by michael1983l


From the op

"Is this a response to the Currency Wars that America have started with the insane 'quantitative easing'? Australia was not happy about America and friends pushing the price of the AUD so high in the last month or so. "

reply to post by Neocrusader


Sorry I thought you were replying to what I had said and the OP added that part in after I read their post.

So it begins, at last! Wonder how long it will take for others to follow suit!

Originally posted by Observor
So it begins, at last! Wonder how long it will take for others to follow suit!

seems so, the great currency devaluation wars, they should make a sitcom out of it. from what this tells us the US is winning the war on currency de-value.

reply to post by michael1983l


No dramas dude

reply to post by Kryties

Do you have any idea how big our coastline is? Transpose a map of Australia over a map of the US and realise that we have 30million people in approximately the same land area as the US. Lots of places to hide

Hide????

Lets just all get guns like the Yanks and we could throw them Chinamen back into the Ocean like those true American patriots would

Seriously people? America didn't start this?

Yes, we did start it. Exactly 99 years and one day ago, on Dec 23rd, 1913 when the Federal Reserve Act was put into place. It started when the Federal Reserve took over our currency and slowly turned it into monopoly money that they insisted (& still do) is worth something...

If you think America had nothing to do with this, then you need to do more research on the history of economics in the 20th Century...