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ft.com - 7/10/2009
FT.com / MARKETS / Currencies - China attacks dollar’s dominance
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China has launched its highest-profile criticism of the dominant role of the US dollar as a global reserve currency at a meeting of the world’s biggest economies. Dai Bingguo, Chinese state councillor, raised the issue on Thursday when he joined the leaders of four other emerging economies for ...
bloomberg.com - 7/4/2009
India Joins Russia, China in Questioning U.S. Dollar Dominance
— bloomberg.com — July 4 (Bloomberg) -- Suresh Tendulkar , an economic adviser to Indian Prime Minister Manmohan Singh ,... said he is urging the government to diversify its $264.6 billion foreign-exchange reserves and hold fewer dollars. “The major part of Indian ... (more) India Joins Russia, China in Questioning U.S. Dollar ...

Comments vote down Across the Curve found this 7/4/2009found this

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Across the Curve:  Miscellaneous Links

FT Alphaville:  China attacks dollar’s dominance

Sybil's Star:  Time to Throw Out the Efficient Markets Theory

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Miscellaneous Links
Across the Curve — There has been a chorus of world officials over the last several months questioning the role of the dollar as well as the need for a new reserve currency. Today a Chinese official joined the chant at the G8 meeting. Here is link to the FT story. Japanese PPI plunges 6.6 percent YOY. The yield on the 2 year JGB drops to a 3 1/2 year low. Some divisions in Democrat ranks slow the march of measure to reform health care. Department store sales tumble in June. No green shoots in this one. ...

China attacks dollar’s dominance
FT Alphaville — China has launched its highest-profile criticism of the dominant role of the US dollar as a global reserve currency at a meeting of the world’s biggest economies, the FT said . Dai Bingguo, Chinese state councillor, was unequivocal in calling for the world to diversify the reserve currency system and aim at relatively stable exchange rates among leading currencies. Analysts said Mr Dai’s comments - which follow earlier statements by the People’s Bank of China in March - appeared mostly political in nature.

Move over, Amero; presenting the “united future world currency”
FT Alphaville — What is Russia playing at? Talk of upsetting the global world order (at least as currency reserves go) has largely been reported as China’s domain, but Dmitry Medvedev is giving his neighbours a run for their money - literally. Bloomberg reports (emphasis ours): July 10 (Bloomberg) — Russian President Dmitry Medvedev illustrated his call for a supranational currency to replace the dollar by pulling from his pocket a sample coin of a “united future world currency.” “Here it is,”Medvedev told reporters today in L’Aquila, Italy, after a summit of the Group of Eight nations. “You ...

Time to Throw Out the Efficient Markets Theory
Sybil's Star — ... You've probably noted over the last few months that China and Russia have made quite a show of recommending the return to gold as a store of value in place of the U.S. dollar. (See this Financial Times article, and ...

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