[Alberta's Child]

Why would you ever criticize a foreign country for eliminating its currency ties to the U.S. for transactions involving a third-party nation? For one thing, cutting a U.S. dollar out of those transactions makes sound business sense simply because it’s not necessary. Secondly, what moral authority does the U.S. have to assert itself as the owner of a “global currency” when our own financial house is in shambles?

[dennisw]

Why would you ever criticize a foreign country for eliminating its currency ties to the U.S. for transactions involving a third-party nation? For one thing, cutting a U.S. dollar out of those transactions makes sound business sense simply because it’s not necessary. Secondly, what moral authority does the U.S. have to assert itself as the owner of a “global currency” when our own financial house is in shambles?

1. Sorry but I root for the home team America not some globalist bs
2. If this Australia-China deal is such a good idea how come it wasn't done 10-20 years ago?
3. Answer-- because nothing happens in a geo-political vacuum and Obama's America looks weak while China looks strong
4. If you like China becoming more dominant in Asia then you will like this deal
5. To repeat -- I am not a lala land libertarian. I root for the geo-political economic interests of America
6. You better believe the ChiComs always root for China, act for China and are the last thing from libertarian lazy-faire, ostrich_head_in_the_sand globalists.
7. Everything the ChiComs do is based on geo-economic-politics yet you think America should not behave this way
8. We have a defense pact with Austrialia and this China deal is designed to disrupt this which makes Ms Julia Gillard happy and the ChiComs very happy