And it looks like Russia has decided to bail on the US dollar, diversifying its holdings into the Euro (Russia is adding $20 billion a month to its financial reserves, mostly due to oil and gas sales). This has freed up a large float that has now re-entered circulation. And last month, the Asian central banks began the process of diversifying their reserves out of the US dollar.
Um, everybody (except Republican voters) knows you can't borrow your way to long-term prosperity?
You might want to check these graphs as well:
US Dollar vs the Ruble here.
US Dollar vs Canadian Dollar here.
US Dollar vs Euro here.
US Dollar vs Yuan here.
US Dollar vs British Pound here.
And it looks like Russia has decided to bail on the US dollar, diversifying its holdings into the Euro (Russia is adding $20 billion a month to its financial reserves, mostly due to oil and gas sales). This has freed up a large float that has now re-entered circulation. And last month, the Asian central banks began the process of diversifying their reserves out of the US dollar.