China & Russia: time to end U.S. dollar dominance
Posted: March 20th, 2009, 3:05 pm
http://www.reuters.com/article/usDollar ... 3020090319
This would be like pulling out the cards on the bottom which were supporting the entire house of cards.MOSCOW, March 19 (Reuters) - China and other emerging nations back Russia's call for a discussion on how to replace the dollar as the world's primary reserve currency, a senior Russian government source said on Thursday. Russia has proposed the creation of a new reserve currency, to be issued by international financial institutions, among other measures in the text of its proposals to the April G20 summit published last Monday.