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To: Red Badger

It doesn’t matter what BRICS wants or says regarding reserve currency. The only voice that matters on this topic is OPEC.


2 posted on 04/18/2011 9:00:19 AM PDT by Zuben Elgenubi (All we have to remember is: US Tax Receipts 2.2 trillion, Expenses 3.7 Trilllion)
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To: Zuben Elgenubi
“It doesn’t matter what BRICS wants or says regarding reserve currency. The only voice that matters on this topic is OPEC.”

The way I read the article the BRICS are not making an attempt to eliminate the $ as a reserve currency, but to diminish the status of the currency.

For example, the article states that: “The five countries agreed to expand use of their own currencies in trade with each other — an important step toward putting the dollar into a new downsized place.”

In addition, don't be so sure the up and coming economies of the BRICS won't have a significant influence should they collectively push to dethrone the dollar.

9 posted on 04/18/2011 7:55:43 PM PDT by MichaelCorleone (Sarah Palin is America's Margaret Thatcher)
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