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“Russia and China won’t cope without US dollar”
Published: 17 June, 2009, 20:00
Despite calls for less reliance on the Dollar, Russia and China will have to trade and keep reserves in USD for the foreseeable future says Walter Lohman, Director of The Heritage Foundation's Asian Studies Center.
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A reserve and a trading currency must be widely circulated and traded, reasonably stable (current turmoil excepted) and be politically and socially stable. So that is still the dollar and the US remains the largest trading partner of all economic Blocs, BRICs, EU, NAMs etc etc. The rouble is too small and their are 2 of them (???) and the Yuan is not even traded or tradeable outside China.
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Does anybody here know anything about The Heritage Foundation? They are a bunch of neoconservative fake-conservatives who care only about US domination of the world. OF COURSE they don't want China or Russia to ditch the dollar. I got a better idea, how about the United States Congress audits the private Federal Reserve (Congressman Ron Paul's introduced law H.R. 1207 to audit the Fed) and exposes to the American people and to the world just how much money has been created by these criminal bankers, inflating the money supply, and using their wealth to buy of US politicians and big businesses. Research H.R. 1207, it is the best last hope of restoring freedom to America and to the world. If the Federal Reserve is not audited, the money they have created since they began giving money away at 0% interest (4th Quarter 2008), the money they have created will be used to bring in a Soviet-style oligarchy in the United States, and the World may never recover from this age of darkness.