China Signs $31Bn Currency Exchange Deal With Australia!
- Why are so many nations announcing currency swap agreements almost every other day? They are abandoning the USD! It is significant that China is moving rapidly to establish this (with many countries) because they are the largest holder of USD denominated assets. The death knell of the USD is being sounded throughout the world. A currency swap agreement means the central banks of each country agrees to bypass the USD and accept each other’s currency.
- The petrodollar(USD) is the world reserve currency. It is used in international trade settlement (in as much as 66% of international trade). Goods are quoted and sold in USD as it is accepted because all nations need to buy oil (petrol). The oil trade is bought and sold in USD (on threat of annihilation by the Anglo-American-Zionist Illuminist west). Now that Iran has broken this petrodollar edict, the western Illuminati will definitely start a war against Iran!
China signs $31bn currency exchange deal with Australia!
China and Australia have signed a currency swap agreement in a bid to promote bilateral trade and investment. It will allow for the exchange of local currencies between their central banks, worth up to 30bn Australian dollars ($31bn; £20bn) over three years. The deal is expected to reduce cost for businesses, as they will be able to settle trade terms in local currency.
It is the latest in a series of similar deals signed by Beijing as it seeks a more global role for the yuan. “The main purposes of the swap agreement are to support trade and investment between Australia and China, particularly in local-currency terms,” the Reserve Bank of Australia said in a statement.’Stamp of approval’ China has been trying to promote the yuan as an alternative global reserve currency to the US dollar.
It has signed currency deals with many of its trading partners, including Hong Kong and Japan. That has seen a rise in the amount of Chinese trade being settled in yuan instead of US dollars.
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