Russia Dumps the U.S. Dollar for Euro as Reserve Currency
May 19, 2009 - 07:37 PM
By: Pravda
Currencies
The US dollar is not Russia’s basic reserve currency anymore. The euro-based share of reserve assets of Russia’s Central Bank increased to the level of 47.5 percent as of January 1, 2009 and exceeded the investments in dollar assets, which made up 41.5 percent, The Vedomosti newspaper wrote.
<< <i>Russia Dumps the U.S. Dollar for Euro as Reserve Currency
May 19, 2009 - 07:37 PM
By: Pravda
Currencies
The US dollar is not Russia’s basic reserve currency anymore. The euro-based share of reserve assets of Russia’s Central Bank increased to the level of 47.5 percent as of January 1, 2009 and exceeded the investments in dollar assets, which made up 41.5 percent, The Vedomosti newspaper wrote.
Ya know... we've been here before, only to have the gold rally end at about $1,000 an ounce. We are merely in a trading range, until there is a breakout. We have already had two rally failures at the $1,000 level. Why not a third rally failure?
Yeah, I'd like to see a break out. But I would like to see a break out FIRST before I get excited about the recent rally.
And there will be plenty of time to buy gold if there is a breakout, with plenty of profit potential after the breakout.
To quote Stan Weinstein: "buy high and sell higher."
Comments
Edited to add: Bought 3 quarters yesterday for $750
roadrunner
<< <i>US Dollar Index fell off the cliff. Looking for support somewhere in the 80 range.
roadrunner >>
Then the 70's
Then the 60's
Interesting times in which we live
Forum AdministratorPSA & PSA/DNA ForumModerator@collectors.com | p 800.325.1121 | PSAcard.com
May 19, 2009 - 07:37 PM
By: Pravda
Currencies
The US dollar is not Russia’s basic reserve currency anymore. The euro-based share of reserve assets of Russia’s Central Bank increased to the level of 47.5 percent as of January 1, 2009 and exceeded the investments in dollar assets, which made up 41.5 percent, The Vedomosti newspaper wrote.
http://www.marketoracle.co.uk/Article10755.html
--Severian the Lame
Loves me some shiny!
<< <i>Russia Dumps the U.S. Dollar for Euro as Reserve Currency
May 19, 2009 - 07:37 PM
By: Pravda
Currencies
The US dollar is not Russia’s basic reserve currency anymore. The euro-based share of reserve assets of Russia’s Central Bank increased to the level of 47.5 percent as of January 1, 2009 and exceeded the investments in dollar assets, which made up 41.5 percent, The Vedomosti newspaper wrote.
http://www.marketoracle.co.uk/Article10755.html >>
that is a frickin' huge barometer.
wait until OPEC wants Euros instead and Yuan
barron's article
this may have already been linked from goldseek
Yeah, I'd like to see a break out. But I would like to see a break out FIRST before I get excited about the recent rally.
And there will be plenty of time to buy gold if there is a breakout, with plenty of profit potential after the breakout.
To quote Stan Weinstein: "buy high and sell higher."
www.AlanBestBuys.com
www.VegasBestBuys.com