Thread: Russia, China, others urge diverse monetary system

Russia, China, others urge diverse monetary system - Yahoo! News

YEKATERINBURG, Russia – Brazil, Russia, India and China say the world needs a more diversified international monetary system.
The four so-called BRIC nations are concluding their first summit with a final statement calling for the reform of global financial institutions to reflect changes in world economy.
They said Tuesday there is a strong need for a stable, predictable and more diversified global monetary system and urged support for a more democratic and just "multipolar" world order.
There was no explicit mention of the U.S. dollar or the United States in the statement.

Originally Posted by lnvanry

Developing world leaders show new power at summits | U.S. | Reuters

"The BRIC summit ended with a statement by Medvedev and a communique which demanded more power for developing nations. It did not mention two key Moscow initiatives -- a smaller role for the U.S. dollar and a supranational reserve currency."


There was explicit mention of the USD...and the USD dropped app. 1% after the public remark.

Hmm....having a strong Military keeps us strong but when we are broke ....