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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: ayn rand who wrote (21072)	6/29/2009 1:43:44 AM
From: RJA_	Respond to of 71456

Per Roubini tonight: China's Super-Sovereign Reserve Currency Idea: Could the SDR Be a Reserve Currency? * People's Bank of China's Financial Stability Report (June 2009): To avoid intrinsic shortcomings in using a sovereign currency as a reserve currency, there is a need to create an international reserve currency that is divorced from sovereign states and can maintain a stable value over the long term. It also suggested that the IMF step up its review of the economic and monetary policies of reserve currencies to encourage stability, a view previously expressed by finance ministry officials (Reuters) * Nouriel Roubini: The process that will lead - in the medium to long term - to a challenge of the U.S. dollar as the major global reserve currency has started. The U.S. creditors - the BRICs, the Gulf states and others - are becoming increasingly alarmed that the U.S. will deal with its unsustainable fiscal path via inflation and debasement of the value of the U.S. dollar via depreciation. So they will not sit idly waiting for this to happen: they are already diversifying into gold, into resources (as China purchases mines and energy, mineral and commodity resources all over the world)