"Colossal Defeat" For Obama As Australia Joins China's Regional Bank

Tyler Durden's picture

Having attacked its "closest ally" UK for "constant accomodation" with China, we suspect President Obama will be greatly displeased at yet another close-ally's decision to partner up with the Chinese-led Asian Infrastructure Investment Bank (AIIB). As The Australian reports, "make no mistake," the decision by Australia's Abbott government to sign on for negotiations to join China’s regional bank, foreshadowed by Tony Abbott at the weekend,  "represents a colossal defeat for the Obama administration’s incompetent, distracted, ham-fisted dip­lomacy in Asia."


As The Australian's Greg Sheridan writes Op-Ed,

The decision by the Abbott government to sign on for negotiations to join China’s regional bank, foreshadowed by Tony Abbott at the weekend, represents another defeat for Barack Obama’s diplomacy in Asia.


The Abbott government is right to make this decision. It had well-founded concerns about the vague and unsatisfactory governance arrangements of the institution when Beijing first invited Canberra to join.


Those arrangements have ­improved since then and Australia is only signing on to negotiate terms of accession.


If the terms are no good, Australia will ultimately walk away.


Canberra’s move follows similar decisions by Britain, Singapore, India and New Zealand.


Make no mistake — all this represents a colossal defeat for the Obama administration’s incompetent, distracted, ham-fisted dip­lomacy in Asia.

The Obama administration didn’t want Australia to sign up for the China-led AIIB. The Abbott government rightly feels that it owes Obama nothing.

Obama went out of his way to embarrass the Prime Minister politically on climate change with a rogue speech at the G20 summit in Brisbane.


The speech had been billed as dealing with American leadership in Asia and instead was full of ­material designed to embarrass Abbott.


Since then, the Abbott government has felt absolutely zero subjective good will for Obama.


This is an outlook shared by many American allies.


It’s important to get all the distinctions right here.


The Abbott government operates foreign policy in Australia’s national interest.


That includes full fidelity to the American ­alliance and to supporting US strategic leadership.


But the Obama administration has neither the continuous presence, nor the tactical wherewithal nor the store of goodwill or personal relationships to carry Canberra, or other allies, on non-essential matters.

The Obama administration has tried to convince both its friends and ­allies not to join the China Bank.

This was probably a bad call in itself, but, as so often with the Obama administration, it was a bad call badly implemented.


The characteristically bad implementation has helped shred Obama’s diplomatic credibility.


The Chinese have been the US’s best friends in Asia, diplomatically. Their territorial aggressiveness in the East and South China Seas has driven Asia to embrace America’s security role more tightly than ever.


The American military are now the best American diplomats in Asia by far.


Such prestige as the US enjoys in Asia these days rests disproportionately on the shoulders of the US military.


Obama has neglected and mistreated allies and as a result Washington has much less influence than previously.


The saga of the China Bank is almost a textbook case of the failure of Obama’s foreign policy.

*  *  *

As we have detailed recently, Australia is in trouble economically and its pivot to China makes perfect self-preservation sense... as Sheridan notes:

Obama treats allies shabbily and as a result he loses influence with them and then seems perpetually surprised at this outcome.


The Asian professionals in Washington regard the Obama administration as particularly ineffective in Asia.


The consensus is that the Obama White House is insular, isolated, inward-looking, focused on the President’s personal image and ineffective in foreign policy.

* * *

De-dollarization continues... As Simon Black recently concluded, now we can see words are turning into action...

Britain and Australia might be too polite to tell the US straight up– “Look, you have $18.1 trillion in official debt, you have $42 trillion in unfunded liabilities, and you’re kind of a dick. I’m dumping you.”


So instead they’re going with the “it’s not you, it’s me” approach.


But to anyone paying attention, it’s pretty obvious where this trend is going.


It won’t be long before other western nations jump on the anti-dollar bandwagon with action and not just words.

*  *  *

Bottom line: this isn’t theory or conjecture anymore. Every shred of objective evidence suggests that the dollar’s dominance is coming to an end.

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kliguy38's picture

Its getting a little nervous in the global domination game tonite..... the cockroaches are gettin too much light for comfort....

Pinto Currency's picture



This article is based on the assumption that it is not Obama's goal to isolate and break-down America.

highandwired's picture
"Spain: Withdrawals rush prompts bankruptcy-protection request for Andorran bank's Spanish unit"



highandwired's picture

Where is Zerohedge on this?





"Spain's central bank said Monday that Banco de Madrid SA, a unit of the Andorran bank, needs bankruptcy protection granted by a judge following a "sharp deterioration" of its finances with "large withdrawals of clients' funds.""

Anusocracy's picture

Britain and some former British colonies that spy for the US.

Something stinks with that.

NidStyles's picture

I fucking called it, two years ago!


The Zionists are moving to China to leech off of Asia now. Even the declaration of when the CIPS was to start operating is in line with the Jewish New Year.



jyl's picture

Where is this come from? Details? 

NidStyles's picture

There are no details, it's based on an observable pattern of behavior.


Every seven years on the Jewish Calender they do something big.

Azannoth's picture

It would make perfect sense, China has the Model Zionist System, they are Communist on the outside while Capitalist on the inside with 100% government controll over everything, no freedoms to speak of etc. etc. China is what the NWO wants the whole World to Look Like! .. they know they can't (or it would take to long) to transform the West into that model so they are "softening" the West up via Economic hardship and War and mass Immigration, and moving to China then when the West is done for China will step in to replace the USA and impose their(Zionist) model on the rest of the World.

Ying-Yang's picture

Kudos Azannoth,

A good thought process. What is the structure and process we'd end up with NWO?

Good topic would be if you could design and implement a NWO, what would it look like?

Do you lean towards a chinese NWO, death star NWO, battlestar galatica NWO, ISIS NWO or something else?

farflungstar's picture

How do they gain sympathy with the masses? There is no silly Judeo-Christian bond they can profess to care about with the Chinese. Not to say that you are wrong though.
My money is on them attaching themselves to India, as India already has enough people sympathetic to the Zionists as well as their shared hatred of Muslims.

New Kid's picture

Australia is a NWO poodle. They don't do anything without an OK from the Chosenites. Any split with USA is just drama for the masses.

NidStyles's picture

Oz has the highest Zionist population per percentage outside of Israel.


They also have the highest Jewish population in all of Oceania.

Totentänzerlied's picture

Yes, clearly and objectively, Australia's decision making process is not at all influenced by the fact that without China, Australians would be living like the Chinese. This is like Israel voting to join the Ex-Im bank, or Poland voting to join NATO. Snooze.

New Kid's picture

Yes, clearly and objectively, all governments do what is best for their country. No other motivations involved. /s

springlade's picture

I have 2 questions.  1 to the poster and the other to ZH


1. poster - why do you find it necessary to post comments which demonstrate your own personal prejudcies.  what is the gain to you or to the this site?

2. ZH - why do you allow this website to be used as a forum to propogate hate.


there is no gain in being unkind or spreading hate and that applies to all of us irrepsective of our race or religion or for that matter wealth



Random's picture

1. Because all comments are in the end distilled personal prejudices. There is nothing to gain besides speaking up your mind and if you don't like the comments you can fuck off to places that are more in line with your personal prejudices. TL:DR: fuck you!

2. The reason for this (or any) forum is the free exchange of ideas (personal prejudices). If you don't like it, see point no. 1.


Fuck you hasbara snake and fuck your satanic religion.

Revelation 3:9 biatch

springlade's picture

why dont you try a free exchange of facts

Random's picture

Ok, i go first: Israel is a khazarian fascist state and all their leaders should be put on trials for crimes against humanity for what they have done to the arabs, americans, germans et al (goyim).

Your turn.

OpenThePodBayDoorHAL's picture

Australia has *no choice* but to line up with the country that keeps the sea lanes open, for the moment that's the US. Fuckwit Abbott has also lined up by buying F-35s, goalseek on the foot-shooting exercise.


Even he knows that the game is nearly up with "Murka as the top Pacific power

gimme-gimme-gimme's picture

"you're either with us or against us" ring any bells? Guess the author is too focused on painting his picture of mis-direction instead of actually telling the truth that this is nothing new in the corporate driven US government.

More slop from another anonymous coward author.

eurogold's picture

Next up Germany......Let's hope so!

OldPhart's picture

"France, Germany and Italy have all agreed to follow Britain’s lead and join a China-led international development bank, according to European officials, delivering a blow to US efforts to keep leading western countries out of the new institution.

The decision by the three European governments comes after Britain announced last week that it would join the $50bn Asian Infrastructure Investment Bank, a potential rival to the Washington-based World Bank."



It's to the point that the rest of the world has lost any faith in Obama.  Wonder how long it will take for the brain-dead that elected him.


Andre's picture

Diebold has no brain.

One World Mafia's picture

Write them in even if they have a button next to the name.

Azannoth's picture

Don't blame Me, I voted Diebold!

Ghordius's picture

""France, Germany and Italy have all agreed to follow Britain’s lead and join a China-led international development bank..."

"It's to the point that the rest of the world has lost any faith in Obama"

sorry, a small objection. The whole thing has very, very little to do with Obama. Or any President of the US. It has to do with the aggregated sum of all US Foreign Policies

Socratic Dog's picture

Thanks for pointing that out.  Too easy to just blame the current incumbent.

Shropshire Lad's picture

As Victoria Nudelman yelled at the Russian Foreign Minister last week, "It's not Obama, it's Cheney who makes the decisions round here".

overmedicatedundersexed's picture

Ghordius posts :"It has to do with the aggregated sum of all US Foreign Policies"

no no my euafile, Obuma is the sum of all us policies..secret as well as foreign born a cia plant?

cherry picker's picture

In my view, allies started getting pissed on after that inside job called 9/11.

The USA went downhill from there big time very fast.  I was pissed when Bush treated Canada like shit because we refused to participate in Iraq, which was a put up job plain for the eye to see.

Your gov has made its bed, now it gets to lay in it.

junction's picture

From now on, Prime Minister Tony Abbott better stay away from the water. Look at what happened to former Aussie PM Harold Holt. 


Prime Minister Harold Holt Was Murdered ~
Australia : The Commonwealth Government's website reads:
Harold Holt disappeared while swimming at Cheviot Beach near Portsea , Victoria on 17 December, 1967 . His body was never recovered. Without determining the cause of Holt's death, a joint report by Commonwealth and Victoria Police, submitted in January 1968, concluded that, '... there has been no indication that the disappearance of the late Mr Holt was anything other than accidental'.

The report (see copy on file A1209, 1968/8063) found that his last movements followed a routine domestic pattern, his demeanor had been normal and despite his knowledge of the beach, the turbulent conditions (high winds, rough seas and rip tides) overcame him. The explanations put forward for a failure to find the body included an attack by marine life, the body being carried out to sea by tides or becoming wedged in rock crevices. While a variety of theories have been expounded about Holt's disappearance, the Commonwealth Government did not deem a formal inquiry necessary, accepting the conclusions of the Police report.

Contrary to the above, Holt was murdered, because he was opposed to American bases such as Pine Gap being built on Australian soil

Prime Minister Harold Holt was murdered late Saturday night on the 16th of December 1967 and was reported missing around midday on Sunday the 17th of December 1967 while swimming. There was no evidence to support the "official" report of Harold Holt drowning, nor was there any evidence of a Chinese submarine abducting him and of course "they" all knew this and it was 6 months after this website was up "they" then get the Victorian State Coroner to hold an inquiry into Harold Holts disappearance to have an Official finding 38 years later how Harold Holt drowned on the morning of 17th December 1967.

The Victoria Coroner ignored my request as shown by the below letter sent to him 16 months earlier, to give evidence at the inquest into Harold Holts disappearance and where the Coroner also ignored my Brisbane Supreme Court sworn Affidavit, file No: BS 1127/04, in which pargraph (12), I state "As part of my duties I engaged in several clandestine operations, one of which was the removal of the body of the then Australian Prime Minister Harold Holt from his home out to a waiting fishing boat the night before it was reported he disappeared while swimming" and was also stated in my Supreme Court Affidavit, file No: BS 9166 / 03.

Socratic Dog's picture

Sounds like you are tired of living my friend.  Don't go near any nailguns you see lying around.

chilli sauce's picture
chilli sauce (not verified) kliguy38 Mar 16, 2015 9:55 PM

my roomate's step-mother makes $79 hourly on the laptop . She has been fired for 10 months but last month her pay was $18694 just working on the laptop for a few hours. see here... www.globe-report.com

Stan522's picture

This is not an obama loss.... this is simply part of his plan....

BaghdadBob's picture

The World is dumping the U.S. Dollar, and Putin is about to Nuke the U.S. Fabulous! Tune for the day - "The future's so bright I gotta wear shades".

Grinder74's picture

This article is sooooooooooo   rrrrrrraaaaaaaaaacccccccccciiiiiiiiiiisssssssssssttttttttttt.

joego1's picture

Kangaroo gets reamed by the Panda. How sweet.

MonkeyKnutz's picture

WTF are those in your avitar? Two wet mittens hanging on a fence?

Teamtc321's picture

Looks kinda like, soft balls loaded in a pair of my dirty tube socks.......the ones with a hole in the toe......

mharry's picture

You get used to it as your wife grows older, it's a slow progression. Atleast they aren't fake cantalope boobs.

kareninca's picture

Sign of a guy who has seen only porn photos of fake b**bs, no actual living female b**bs, LOL.  Yes, the porn ones look very different; they put some men off real females; it almost seems intentional.  Porn male parts look different from the real thing, too, probably makes some women unimpressed by the real thing.

Thirst Mutilator's picture

Hey! Finally a woman who admits she has looked at porn before!


Frankly ~ I'd bet that if you did a serious poll, the majority of MEN polled would come down on the side of natural vs. fake. There's more to it than that. I'd bet that if you made the caveat that the 'natural' ones were very small, or even flat chested, they's still opt for natural by majority...


I'll almost guarantee you that 99.9% of men look at porn, and there are so many different 'categories' to choose from. It's like ordering a damn sammich. Maybe one day you go for a high stacked NY deli signature, the next day, a simple grilled cheese will do... Porn Celebrities are often the LEAST viewed categories [both in movies & pics]...


Which brings me to the final point that I believe that breast implants, in reality, have more to do with womens insecurities about themselves than anything else [similar reasoning, perhaps, men use when contemplating fake hair]...


Back when I was in my 20's I dated a stripper [well, we didn't really 'date', we were more like 'fuck buddies' where she'd call me once every few months when she was horny, and we really didn't communicate much between]. She was rather flat chested, then, one day she shows up with a boob job. I can't really say it was particularly more interesting... Then another time, she showed up with her coochie shaved... This was all PRE-INTERNET days, so I hadn't seen much porn in my life at that time except my dad's Playboy Magazine stash... I gotta say this girl was either a trendsetter [or was following trends], because next thing u know, very progressively, all the chicks I met [of all ages], start sporting various hair removal artistry...


Are we talking 'The 100th Monkey' here, or, more likely, that women feed off of other women for their cues? [because I sure know that I wasn't talking about it to anyone]...


Sometime later, the whole 'body piercing' thing gained momentum, followed by the 'tramp stamp' thing... WHATEVER ~ I guess.

erg's picture

Zerohedge is on the ball tonight. No lag. Tip of the spear type stuff. Articles are appearing as fast here as I notice them elsewhere.

Automatic Choke's picture

yes, ZH posts (very quickly) about 350% of the stuff I see elsewhere. 

when Tyler is good, he is very good....but the rest of the time, oh brother.


IridiumRebel's picture

I can tell they are kicking ass by the ever growing troll army that multiplies exponentially by the post. There are almost as many trolls as posters.