Australia to trade with China without using US Dollar

[ATCclears]

Four days ago I started this thread on the creation of a new BRIC bank and Brazil ramping up trading with China without using the US Dollar:
http://www.northwestfirearms.com/preparedness-survival/130338-bric-bank.html

Now this (Australia and China):
Thanks, World Reserve Currency, But No Thanks: Australia And China To Enable Direct Currency Convertibility | Zero Hedge

It is becoming apparent that our largest investor (China) has had enough of our reckless spending and continued printing of money (now $85B per month under Quantitative Easing). Please prepare yourselves, folks. The financial shell game in this country will come to an end, and when it does everyone the people who are dependent on one of the 80+ government-assistance programs will not place nice once their EBT cards stop working...

Peter

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[AMProducts]

There's something completely different going on here that neither article really touches on, china has been manipulating it's currency for a very long time. Something that is only mentioned in passing in the mainstream media now. They have pegged their currency to be low against the dollar, making their products cheap on the world market. This practice essentially destroyed manufacturing here in the US, made china rich beyond it's wildest dreams, and then they turned around and loaned us all the money we needed to dig ourselves into a huge debt pit. (cue the classic "give them enough rope..." line)

However, since 2008 a few interesting things have happened, first, the US is now paying almost nothing on treasuries (a HUUUUGE departure from the policies of Greenspan, who in the late 1990's had interest rates near 6% for the federal funds rate, with a 5.5% yield on the 5 year T-note), since 2011, the yield on the same has been <2%. In addition to the QEs, this has done a lot to "devalue" the US currency, in an attempt to bring back US manufacturing. The problem is, as much as we try to lower the value of our currency to make it easier to compete in the global market, the global market has gone in the toilet just as fast.

Now, the significance of this, is in the past China has pegged the value of the Yuan to the value of the dollar. If China is moving away from this price fixing scheme, it seems they may be doing one of two things: de-coupling their currency from the US dollar, which will mean a higher price for imported chinese goods, or they are now trying to peg other currencies in the same way they have manipulated their currency against ours. This means Australia better be looking out. Since .au is a very mineral rich country and that doesn't have a lot of manufacturing, I am betting on the latter, and that Australia better be lubing themselves up, otherwise the screwing they are going to take is going to hurt. In general, once foreign interests start running the mines, and returning finished goods you're in the same position the british colonists were before the american revolution, and it only ends in war, or in slavery.

 

[knuckle Head]

Or both, remember Australia required its citizens to turn in their guns many years ago, therefore it would have been a good fight before slavery, now it would only be a bloodbath of murder and then enslavement

 

[ATCclears]

China looking at direct yuan trade with aussie dollar | South China Morning Post

 

[chariot13]

China looking at direct yuan trade with aussie dollar | South China Morning Post

This deal pretty much is saying the yuan has more staying power than the dollar & is seen by both countries as being a more stable currency in the future.

 

[mosinguy1]

With the way we are printing money, pretty soon the Nuevo Sol and pooka shells will be worth more!!!!!!!!

 

[erudne]

Australia: Muslim rapist wins right to appeal over cultural differences
Apr 05, 2013 10:06 am | Robert
Now this should be interesting. Cultural differences? This guy is actually going to claim that he raped because his culture allows for it? His culture as an Afghan is thoroughly Islamic. And the Qur'an allows for the owning of sex slaves -- and slaves, by definition, must act at their...
read more

When Christianity falls to "Progressivism" a host of evils takes it's place

 

[Burt Gummer]

And the Qur'an allows for the owning of sex slaves -- and slaves, by definition, must act at their...
read more

When Christianity falls to "Progressivism" a host of evils takes it's place

Oh please. The Bible is no different, Christian churches cherry pick for the 'love' parts. The Bible and its God are fine and dandy with torture, child murder, slavery, human sacrifice, genocide, raping your enemy's wife and kids, etc. etc, just about every unthinkable act ever; NO BETTER than the Quran and what the evil brown people believe. So give the anti-Islam BS a rest on here.

Your comments about religion/Islam don't belong here per forum rules. Go off and do some research on YOUR treasured beliefs before attacking others with your bigotry, hated, and ignorance. You actually know a lot less than many atheists and agnostics do about the Bible, Christianity, and church history - but still call yourself a Christian.

Evil Bible Home Page

 

[erudne]

Burt
You can say anything you want here and no one will hate you for it

 

[Burt Gummer]

Religion/faith bashing or discussion is not allowed per forum rules. "My God is better than your God" nonsense. I just don't like to see comments that attack a religion or race go unchecked, that is all.

3. No religious discussion and/or material.

Everyone has their own beliefs, whether they be extremely devout or belive in nothing at all. This community welcomes everyone, no matter their religion, race, sex, age, creed, marital status, or disability. Since this topic has very little to do with firearms and a great potential to offend others, it's best that we leave it alone.

 

[knuckle Head]

Anyways guys, since this the preparedness forum

i think the question should be how does this affect us / into the future and what do we do to prepare oursleves for it

 

[Burt Gummer]

It is troubling that key countries are actually freeing themselves from our national ponzi scam, the US petro dollar. We've bombed a lot of people to defend the dollar and so far it has worked. Iraq and Libya felt our wrath when they tried to move away from the dollar.

Make no mistake about it. When the other nations decide to stand up to the bully and say FU to trading in the dollar, it is goodbye US economy, hello basket on your head. It is coming. We are trying our best to stop it, but will eventually fail.

World War 3: the unthinkable cost of preserving the petrodollar - YouTube

 

[jake2far]

Yo Burt:
Ya got it wrong, Christianity shares it's origin with Jews, (shame what they did to that poor Jewish boy), that’s where the reference to bad behavior comes from, the old testament. When Jesus died for our sins he gave us........ wait for it, wait for it..... Christianity, you know the Christ that replaced the old testament. Soooo can you please tell me who Christ killed, beheaded, raped, pillaged, mutilated, married, commented war against, you know any of those things done by Muhammad, the leader of Islam.
Jesus the leader of Christianity never hurt anyone, not sure where ya get your info from, but before ya open your mouth about how bad Christianity is perhaps you should get your facts right. Christ is without sin he was trying to show us how to live with each other. Why spread lies about Christ to justify your warped beliefs?

Oh and your lesson on not including religious comments applies to you also, soooooo if ya can't keep your religious comments out of your posts please don't tell others to keep theirs out, after all yours is not the only point of view, no matter how wrong you are.

I endorsed this message.

Jim

 

[Riot]

Yo Burt:
Ya got it wrong, Christianity shares it's origin with Jews, (shame what they did to that poor Jewish boy), that's where the reference to bad behavior comes from, the old testament. When Jesus died for our sins he gave us........ wait for it, wait for it..... Christianity, you know the Christ that replaced the old testament. Soooo can you please tell me who Christ killed, beheaded, raped, pillaged, mutilated, married, commented war against, you know any of those things done by Muhammad, the leader of Islam.
Jesus the leader of Christianity never hurt anyone, not sure where ya get your info from, but before ya open your mouth about how bad Christianity is perhaps you should get your facts right. Christ is without sin he was trying to show us how to live with each other. Why spread lies about Christ to justify your warped beliefs?

Oh and your lesson on not including religious comments applies to you also, soooooo if ya can't keep your religious comments out of your posts please don't tell others to keep theirs out, after all yours is not the only point of view, no matter how wrong you are.

I endorsed this message.

Jim

Please don't feed this troll...

 

[jake2far]

Please don't feed this troll...

Why thank you sir, coming from you I take that as a compliment.

Jim

 

[mjbskwim]

It is troubling that key countries are actually freeing themselves from our national ponzi scam, the US petro dollar. We've bombed a lot of people to defend the dollar and so far it has worked. Iraq and Libya felt our wrath when they tried to move away from the dollar.

Make no mistake about it. When the other nations decide to stand up to the bully and say FU to trading in the dollar, it is goodbye US economy, hello basket on your head. It is coming. We are trying our best to stop it, but will eventually fail.

World War 3: the unthinkable cost of preserving the petrodollar - YouTube

Oh crap,how far down the rabbit hole am I going tonight?

Too bad we can't do much to either Australia or China in this incident.
Or should I say good we won't be attacking Australia for this?
Will we?

And adding jake2far and his beliefs in fairytales,to my ignore list,really shortened this thread up

 

[salmonriverjohn]

Meanwhile, back on the ranch granny was busy beating off the Indians,,,,. Fed the storage bin another big influx of 2015 canned goods from Grocery outlet, you'll go along ways to try and beat their prices. Also went to say (drink) goodbye to a Chief and SMSgt EOD techs this weekend, what a bash! Those two men are really going to be missed.

 

[ATCclears]

It is troubling that key countries are actually freeing themselves from our national ponzi scam, the US petro dollar. We've bombed a lot of people to defend the dollar and so far it has worked. Iraq and Libya felt our wrath when they tried to move away from the dollar.

Make no mistake about it. When the other nations decide to stand up to the bully and say FU to trading in the dollar, it is goodbye US economy, hello basket on your head. It is coming. We are trying our best to stop it, but will eventually fail.

World War 3: the unthinkable cost of preserving the petrodollar - YouTube

This is already beyond Australia, Burt. There was recently a similar announcement with Brazil for a much larger volume of trade. I remember reading a preliminary announcement between China and Japan last August too (but I don't have the link for that).
So Long, Yankees! China And Brazil Ditch US Dollar In Trade Deal Before BRICS Summit

The BRICS (Brazil, Russia, India, China, and South Africa) are also establishing their own version of the world bank to do lending and investments as they see fit.
Watch Out, World Bank: Here Comes the BRICS Bank

The sun is starting to set on the US Dollar as the world's informal, reserve currency. Note that I highlighted the word informal since there is no requirement that the world trade in the US Dollar.

Today's unspoken slogan: US Dollar. Accepted everywhere you want to be.

The likely new slogan in 4-7 years: Chinese Yuen. Accepted everywhere you want to be.

The difference is that the US cannot easily push China around like we did with Iraq and other countries.

Peter

 

[Riot]

The sun is starting to set on the US Dollar as the world's informal, reserve currency. Note that I highlighted the word informal since there is no requirement that the world trade in the US Dollar.

Sad thing is- the more I think about it from their perspective, I'd probably do the same thing.

The tightly wooven string is beginning to unravel at an alarming rate...time to start buying more food and ammo boys!

 

[Stomper]

Meanwhile, back on the ranch granny was busy beating off the Indians,,,,. Fed the storage bin another big influx of 2015 canned goods from Grocery outlet, you'll go along ways to try and beat their prices. Also went to say (drink) goodbye to a Chief and SMSgt EOD techs this weekend, what a bash! Those two men are really going to be missed.

Dang, I bet her arms and wrists got tired!