Thanks for this amazing reply. I totally appreciate your time and effort @jk6276
"outsourcing currency may be worth the risk"
You might be right. Somehow Im still feeling uneasy about this idea. To put that much trust in China? Could costs of manufacturing your own money be really worth it?
At the same time I wouldnt hestitate to trust country as transparent and following law as Australia. I think that's a major difference. Wouldn't you agree?
Thanks again for your comment
Yours
Piotr
I agree to a point @crypto.piotr. There are many other commodities that are dominated by Chinese manufacturers. Is there any less risk in outsourcing them than printing of paper currency. Many nations are well down the path of dependence on China (Australia is most definitely one of them).
Is it preferable to bring China into further engagement and trade or to restrict and sideline a very strong, ambitious nation.
Specifically related to paper money, banks and financial institutions can create vastly more money than printing presses, so in this day and age, is the sovereignty risk actually that significant.
As for Australia, it would be completely unsurprising if we sold our currency production assets to a Chinese company anyway. A large amount of our property and businesses have already been sold out.
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Thank you again for your reply @jk6276.
Appreciate.
hi again @jk6276
Again thx for sharing your view.
I don't have much voting power now (I delegated most of my SP to few bloggers to help them grow) so my upvotes are not worth much. To show my appreciation I'm sending to you 0.5 STEEM. Not much but always something :)
Yours
Piotr
I really appreciate the gesture. Your topics @crypto.piotr are always thought provoking and I appreciate that you find value in my contributions.
Have a great day.
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I really really do. I've managed to get to know a number of valuable people here on Steemit and learning from you guys is currently my main reason why Im on this platform :)