Thursday, April 02, 2009

Replace Dollar as Reserve Currency reported Barely 24 hours after announcing that Russia and the United States would cooperate on a variety of long-simmering issues, President Dmitri A. Medvedev of Russia reproposed a Russian idea that the United States had thought it had batted away: starting a new basket of strong regional currencies to replace the dollar as the world’s reserve currency.
That is not unreasonable. Obama is devaluing the dollar so much I can see why other countries would be concerned about it.

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