Dollar facing ‘power-shift’

[Sol Invictus]

The dollar’s position as the world’s leading reserve currency faces increased pressure as the financial crisis allows emerging economies greater influence on the world stage, analysts said.

A report last week in The Independent claiming that China, Russia and Gulf States are among nations prepared to ditch the dollar for oil trades has heightened the uncertainty surrounding the US currency’s future.

The dollar slumped against rivals last week in the wake of the British daily’s controversial report.

“The US dollar is being hurt by the continued talk of a shift away from a dollar-centric world,” said Kit Juckes, an analyst at currency traders ECU Group.

Read entire article (http://www.breitbart.com/article.php?id=CNG.ee8e6856c300b312ea0f64a4522381c a.481&show_article=1)

[Rudy]

Similar article, but be careful because it comes from a metal selling company.
http://www.kitco.com/ind/willie/oct022009.html

The Chinese want to maximize their accumulation of gold from the PaperBoyz, at the best price. They do not want a catapult upward in the gold price. They want a gradual controlled price. Expect continued accommodation.Jim Willie CB
He concludes that silver may be a better buy than gold.

[ikki]

silver has gained percentually a whole lot more already tho. But stands a far better chance being minted...

oh and there is the gold trust. slowly selling central banks holdings in order to stall gold rise... and they are about halfway thru the reserves judging from excess gold that has enetered the market.
This since 1998 (?), so expecvt another 5-10 years at most until the bigboys are plain out of the shiny stuff... eubank & fort knox all empty... thats when the realities of demand will really hit home ;)

http://gata.org/node/7402

[Sol Invictus]

Precious metals is a sure way to protect your assets.
People must learn to understand that what they keep in their wallets;
Is but simply paper.