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China Demands Global Reserve Currency March 25, 2009

Posted by aetiusromulous in Economics, news, politics, Video, YouTube.
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A “Shot Across The Bow”

On the eve of the G20 conference in London, China took the lead in setting the agenda, displaying for all it’s concern over a collapsing US economy, and a mismanaged monetary policy.

China, Russia, South America, and a host of others are watching the value of their investments in America melt away, just as America is appealing to them to buy even more debt, and in staggering amounts. This sets the stage for a historic case of buyers remorse, in which huge, powerful economies are being destroyed by their exposure to US dollars and policy. After several decades of exporting their problems to the world, Americans now face a day of reckoning with their creditors.

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