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Central banks start to abandon the U.S. dollar

5
Love-Child of Cassandra and Sisyphus7/12/2010 8:23:29 pm PDT

re: #4 Curt

The message just isn’t as news worthy as Heidi would like it to be. The slow move away from the US dollar as the reserve currency has been going on for some time now, and is done with quite a bit of intention on the part of the central bankers.

As the US share of world GDP declines it is quite reasonable to expect the US to have less of a dominant role in world economic decisions.

This is not new. It is not a mystery. It is not a conspiracy. It is not Obama’s fault.

The revanchists love the dollar-is-in-trouble meme, for it plays into their fears about the US becoming weak.