Re: Russia ramping up Dollar Diversification talk
in response to
by
posted on
Jun 17, 2009 09:49AM
This is an interesting article. While I don't doubt that the US dollar will be involved as a reseve currency in the future, I find it interesting that other countries are openly musing about the dominance of the dollar. This would not have happened until even a few years ago. I guess it demonstrates the shifting of financial power.
Looks like it is the start of the decline of the US greenback. Japan is putting on a brave face, but notice what their finance minister said...."came from Japan where Finance Minister Kaoru Yosano reiterated his view that the dollar will remain the world's key reserve currency." Notice he didn't say for how long.
If the BRIC countries get their way (probably not, because they're always fighting with each other idealogically), and gold becomes part of a reserve currency, watch the share prices of all miners involved with gold. After all, then you really would be taking "money" out of the ground.
Trainboy