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Medvedev Pushes Ruble Reserve Currency to Cut Dollar Dominance

Posted By admin On June 19, 2010 @ 4:14 am In Featured Stories,Money Watch | Comments Disabled

Paul Abelsky
Bloomberg [1]
June 19, 2010

Russia wants the ruble to be one of the world’s reserve currencies as President Dmitry Medvedev renews his push to reduce the dollar’s dominance and make Moscow a global financial hub.

“Only three, five years ago it seemed like a fantasy” to create a new reserve currency, Medvedev said yesterday in a speech in St. Petersburg, Russia. “Now we are seriously discussing it.”

Medvedev, who has repeatedly called for a supranational currency to match the dollar, said discussions with China are continuing on broadening the global options. Russia sold U.S. Treasuries for a fifth consecutive month in April, the U.S. Treasury Department said June 15. The world may need as many as six reserve currencies, Medvedev said.

“It’s something that’s obviously needed,” he said at the St. Petersburg International Economic Forum. “Developing a financial center in Moscow will considerably help to strengthen the ruble’s position as one of the reserve currencies.”

Full article here [1]

Medvedev Pushes Ruble Reserve Currency to Cut Dollar Dominance 140410banner4 [2]


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URLs in this post:

[1] Bloomberg: http://www.businessweek.com/news/2010-06-18/medvedev-pushes-ruble-reserve-currency-to-cut-dollar-dominance.html

[2] Image: http://infowars-shop.stores.yahoo.net/post4rioffe.html

[3] Russia’s Medvedev backs long-term “super currency”: http://www.prisonplanet.com/russias-medvedev-backs-long-term-super-currency.html

[4] Sarkozy Pushes for Abandonment of Dollar as World Reserve Currency: http://www.prisonplanet.com/sarkozy-pushes-for-abandonment-of-dollar-as-world-reserve-currency.html

[5] Medvedev Unveils “World Currency” Coin At G8: http://www.prisonplanet.com/medvedev-unveils-world-currency-coin-at-g8.html

[6] China To Challenge US Dollar Reserve Currency Status: http://www.prisonplanet.com/china-to-challenge-us-dollar-reserve-currency-status.html

[7] Shocking New IMF Report: The U.S. Dollar Needs To Be Replaced As The World Reserve Currency And SDRs “Could Constitute An Embryo Of Global Currency”: http://www.prisonplanet.com/shocking-new-imf-report-the-u-s-dollar-needs-to-be-replaced-as-the-world-reserve-currency-and-sdrs-could-constitute-an-embryo-of-global-currency.html

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