Tag Archives: currency

Russia, China Set to Cast Off US Treasuries for IMF Debt

Here’s a Bloomberg article on the intended swap. 

Want to know why? 

It ties into this story: BRIC to Discuss New World Currency.

But the overall plan is outlined here: On the Current State of Currency.

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BRIC to Discuss New World Currency

Sampled from this Bloomberg article:


Russian Proposal

Russian President Dmitry Medvedev may discuss his proposal to create a new world currency when he meets counterparts from Brazil, India and China this month, Natalya Timakova, a spokeswoman for the president, told reporters by phone today. Medvedev first proposed seeking alternatives to the U.S. dollar as a reserve currency in March.


Together, the four countries comprise 42% of the world’s population and hold the majority of US foreign debt. 


      Read more about this issue in our April 2, 2009
      blog entry, “
On the Current State of Currency”…


Filed under Conflict, Economy