They also increased their gold purchases by 25%. Keep in mind Russia just increased thier gold reserves by 5.5 billion in one week just before they announced possible restructure of us dollar reserves.
Argentina has been snapping up gold as fast as they can, just like the Russians.
I'd like to see the Euro take over as the top reserve currency for a time. It would give us some room to stretch our economic legs. There are far too many dollars floating on the market right now, so a pullback would be a good thing. We have released (read printed) more paper currency into the market over the last 4 years than at any time from 1792 to 1980... combined. Thats a lot of dollars.