Shock: Is Australia Really Falling Under the Orbit of China?
By Staff News & Analysis - April 01, 2013

Thanks, World Reserve Currency, But No Thanks: Australia And China To Enable Direct Currency Convertibility … 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 – ZeroHedge/Australian

Dominant Social Theme: The world is departing from the dollar.

Free-Market Analysis: We've already written about this dominant social theme. We are supposed to believe the Western world is moving away from the dollar and that Australia is fundamentally breaking away from Britain and welcoming the embrace of China?

Last week came news that the BRICs were creating an IMF-like outfit. This is supposed to be similarly undermining to Western interests. We were not so sure and you can see our article here: BRICS Plan for New IMF: Trojan Horse for Western Agenda?

Here's a little of what we wrote:

Comes word that the BRIC nations are going to form their own reserve currency via an IMF style facility. This is being interpreted universally as an attack on Western interests.

After all, David Rockefeller, John Maynard Keynes and a few other august individuals virtually created the modern money system after World War II when the world lay prostrate at the feet of Western powers.

Now we must come to understand that the fall of the West expands apace. The shift of power to developing countries is well underway. The apathy, moral degeneration and lassitude of Western civilization is bringing about its decline.

We've explained over and over that the forces of globalism seek one world, one central bank, one united political entity. And thus, inevitably we place this development within those parameters. We simply don't believe that the BRICs are really and truly acting in opposition to the West. After all, the IMF is, in fact, a hated institution among developing countries.

We also explained that the way large sociopolitical and economic conversations evolve in the world today is via the clash of ideas and institutions. But there must be two sides in order to create an outcome. Thesis, antithesis, synthesis, Hegel wrote and he was prescient.

What we are seeing here is the creation of an argument that leads inevitably to a synthesis. This is not so much opposition to the West as a realization of the globalists' dream.

Gradually, East and West are approaching parity and from the standpoint of the evolution of a single, global market, that's probably an enhancement.

For those in the West suffering through a diminishment of lifestyle and resources it is not so pleasant. But for investors who understand the larger economic and monetary currents sweeping through the world, the current environment offers a tremendous opportunity for wealth-making positions.

We have already pointed out in numerous articles that Africa is being aggressively developed the way China was. And there will be other opportunities as well in this era of great change.

After Thoughts

Don't be fooled by the rhetoric. Top Western leaders are more aligned than not with these developments.

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