Wednesday, June 17, 2009

BRIC Calls for Diversified Reserve Currency

The dollar is on the edge. It could collapse at any time--and Treasury securitieis are not far behind.

Leaders of the so-called BRIC nations -- Brazil, Russia, India and China -- on Monday called for a "more diversified" currency system.

According to data from the Treasury, Beijing owned 763.5 billion dollars in US securities in April, down from 767.9 billion dollars in March.

It was the first month since June 2008 that Beijing failed to purchase more US T-bills.




  2. Wenzel,

    What was going on back in June of 2008 that led them to take that action? I'm as skeptical as you are of things, but, that event didn't seem to signal eminent collapse of the US monetary regime then, so it could be that it isn't evidence of it now, either, right?