Friday, January 9, 2009

Arab Nations and Chinese looking elsewhere.

The Arab nations and the Chinese government are looking to establish their own reserve currencies. This is a clear sign that they have doubts about the US Dollar remaining the world's reserve currency. Why should they continue to accept payment in USDollars, when our currency is being debased on a daily basis?

With the establishment of both reserve currencies, sovereign banks will look to purchase massive tonnage of gold reserves to back up their currencies.

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