While the near term chart picture for the US Dollar is decidedly friendly, more and more frequently we are reading reports such as the following out of Dow Jones.
It is not difficult to see where all of this is heading. The US is declining and going the way of all empires and kingdoms throughout history who spent themselves into oblivion and refused to consider the long term implications of their policies.
Esau squandered his birthright for a bowl of stew. The US monetary authorities and inept political leaders have squandered the Dollar's reserve currency status for what??? A pox on the whole pathetic batch of them all.
DJ Australia's Swan: To Discuss With China Possible Direct Conversion of Australian Dollar, Yuan
HONG KONG--Australia will discuss with China officials the potential for
direct conversion of the Australian dollar and the Chinese yuan for
transactions completed in mainland China, Australian Treasurer Wayne Swan said
"This has the potential over time to help reduce the cost of trade between
Australia and China," said Mr. Swan, who spoke at a forum in Hong Kong before
heading to Beijing for discussions with officials on yuan internationalization.
Mr. Swan said Australia has strongly supported China's move toward a freely
traded currency, and toward "a fully integrated economy that will very soon
lead the world."
"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat
Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput
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