Australia Abandons U.S. Dollar

[walter]

http://www.thetrumpet.com/article/10...-the-us-dollar

"Starting April 10, Australia and China will no longer use the U.S. dollar for trade between the two nations. For the first time, Australian businesses will be able to conduct trade in Chinese yuan. No more need for U.S. dollar intermediation."


"Less than a week later, China announced its participation in the joint BRICS bank initiative. Brazil, Russia, India, China and South Africa announced the creation of a new development bank that some analysts say has the potential to rival the U.S.-dominated World Bank and European-influenced International Monetary Fund."

[Matt]

That's interesting, I wonder if this deal will fall through like the Pan Asia GoldExchange.
I'm sure China's central bank had no complaints.
bullionstreet.comPan Asia GoldExchange

[allodial]

What's 'funny' is that the term Eurodollar is a term for U.S. dollars denominated European bank accounts (been so since ~1945).