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Russia and China's Currency Plans

Over the last two weeks, both China and Russia have made headlines with their unhappiness over the current financial world order. The Chinese are worried over the future of their holdings of both the US dollar and US debt. The Russian’s are concerned about the use of the US dollar as a reserve currency and likely worried over the use of the US dollar in the pricing of their chief export oil.

In his speech to the G-20, Chinese President Hu Jintao said that the International Monetary Fund should increase its surveillance of the economic, and particularly the monetary, policies … …READ MORE

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