Emerging Economies Meet in Russia, US dollar

[Bindare_Dundat]

YEKATERINBURG, Russia — Leaders of the four largest emerging market economies discussed ways to reduce their reliance on the United States at their first formal summit meeting on Tuesday. But they concluded with only a cautious statement suggesting a move away from the dollar’s role in global commerce and a call for greater representation of developing countries in global financial institutions.


By some predictions, the four nations, Brazil, Russia, India and China, a group referred to as the BRIC group, will surpass the current leading economies by the middle of this century, a tectonic shift that by this reckoning will eventually nudge the United States and Western Europe away from the center of world productivity and power.

Mr. Medvedev encouraged China, the world’s largest holder of dollar reserves, and other nations to put their money in some other currency or financial mechanism. He also urged members of the Shanghai Cooperation Organization to use their national currencies in conducting bilateral trade.

“There can be no successful currency system, and particularly a global system, if the financial instruments that are used are denominated in only one currency,” Mr. Medvedev said. “Today, this is the case and the currency is the dollar.”

http://www.nytimes.com/2009/06/17/world/europe/17bric.html?_r=2&ref=global

[Kazan]

Looks like Russia is trying a little tit for tat, you bankrupt us, we bankrupt you.

[SAMSON123]

The SPOILED BRAT AMERICA is about to be left out in the cold at a most precarious time. Everyone knew this was coming... except the idiots that run america. They are still holding onto the belief that america is great and that the dollar will always be... NADA.

Now the rest of the world with Russia and China taking the lead are taking complete control. Russia with its natural resources, India with its technology, Brazil with its natural resources and China with its manufacturing ability has left the non producing america pondering what to do. Europe has nothing and is totally dependent on other nations with natural resources to survive. america has destroyed its natural resources and crop producing ability... it is no more than a PAPER PUSHING NATION OF THIEVES.

Expect a drop of the dollar EXTREMELY SOON and a total collapse of america. And should america try to use military or subversive might to try and retain its place...expect events to begin unfolding in america, expect other nation to subvert america and destroy it the way it has done to other nations.