Dollar Troubles?

Russia not against being paid for gas in roubles

http://www.reuters.com/article/usDollarRpt/idUSLE32179420091014 >>

Wed Oct 14, 2009 11:14am EDT

BEIJING, Oct 14 (Reuters) - Russia is not against the idea of selling its gas for roubles, and would be happy to pay in yuan for Chinese goods, Russian Prime Minister Vladimir Putin said on Wednesday.

Putin, speaking to reporters during a visit to Beijing, added that China has proposed discussion on launching international electronic foreign currency payments in a supranational currency.

Currently the dollar is the main currency in international trade. Big oil producing nations denied a British newspaper report earlier this month that Gulf Arab states were in secret talks with Russia, China, Japan and France to replace the dollar with a basket of currencies in trading oil. [ID:nSYD421795] (Reporting by Daria Korsunskaya; Writing by Toni Vorobyova, Editing by John Bowker)

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http://www.breitbart.com/article.php?id=CNG.e272eaa74dccc30f21c6ff7638b0f37b.461&show_article=1# >>

"The United Nations called on Tuesday for a new global reserve currency to end dollar supremacy which has allowed the United States the "privilege" of building a huge trade deficit."

"China had called in March for a new dominant world reserve currency instead of the dollar, in a system within the framework of the Washington-based IMF."

http://www.bloomberg.com/apps/news?pid=20601087&sid=aSp9VoPeHquI >>

"UN countries should agree on the creation of a global reserve bank to issue the currency and to monitor the national exchange rates..."

http://www.un.org/apps/news/story.asp?NewsID=32020&Cr=financial+crisis&Cr1 >>

"high-level United Nations commission on the world financial crisis today called for a new global reserve system that does not rely on a single currency like the dollar, a new global credit facility to complement the International Monetary Fund (IMF), and a new global coordination council that would be more inclusive than the current G20 bloc of countries."

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http://www.marketwatch.com/story/schultz-paints-bleak-picture-of-future >>

Harry Schultz Letter -- "Some U.S. embassies worldwide are being advised to purchase massive amounts of local currencies; enough to last them a year. Some embassies are being sent enormous amounts of U.S. cash to purchase currencies from those governments, quietly. But not pound sterling. "

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