Australia And China To Enable Direct Currency Convertibility

[titorite]

Australia unwittingly signs a death warrant for itself perhaps?

Easy conversations of currency can mean easy moving in....

Must not be many titor heads down under.

Thanks, World Reserve Currency, But No Thanks: Australia And China To Enable Direct Currency Convertibility | Zero Hedge

A month ago we pointed out that as a result of Australia's unprecedented reliance on China as a target export market, accounting for nearly 30% of all Australian exports (with the flipside being just as true, as Australia now is the fifth-biggest source of Chinese imports), the two countries may as well be joined at the hip.

Over the weekend, Australia appears to have come to the same conclusion, with the Australian reporting that the land down under is set to say goodbye to the world's "reserve currency" in its trade dealings with the world's biggest marginal economic power, China, and will enable the direct convertibility of the Australian dollar into Chinese yuan, without US Dollar intermediation, in the process "slashing costs for thousands of business" and also confirming speculation that China is fully intent on, little by little, chipping away at the dollar's reserve currency status until one day it no longer is.

 

[titorite]

And drudge also reports that China is massing troops near north korean border....

If china annexes north korea with those troops we got us another hit in this battleship style of hit or miss comparisons of what happened to him on his worldline vrs our own diverged line.....

Still the patterns are repeating. In recognizing that maybe they can be broken before permanent harm is done.

 

[TimeTravel_00]

Do you honestly think that Korea is waving around big stick on their own accord. Big brother China gives the orders in that part of the world. Just as big brother Uncle Sam tries to in the middle east.

 

[titorite]

Do you honestly think that Korea is waving around big stick on their own accord. Big brother China gives the orders in that part of the world. Just as big brother Uncle Sam tries to in the middle east.

I absolutely do think that korea acts on its own. Hence the gigantic mass of chinease at the border. The treaty states they should defend their ally but that was 3 generations ago now and Korea acts as it does... It is a nuclear power now but...The way they toute it is the problem..At least I think thats how china feels.

IF Korea can get the US to fire the first shot then they justify everything and I think China will side with them... If they can not get the US to fire the first shot but instead premptive strike like we normally do... well if north korea does that I think the red hoards of the great dragon will open its mouth and swallow N.Korea. er annex N korea.

Then the ball would be in their court. accept the unforseen unwanted gift of north korea and be satisfied... or make for the southern expansion push like titor spoke about....

 

[TimeTravel_00]

Holy crap, I just heard a news report that China has been spying on Taiwan and upping the ante in the cyber attacks. If for whatever reason, China invades North Korea, what is to stop them from also taking South Korea, Japan, Taiwan, and the Philippines?