Friday, June 09, 2006


So Russia, like Iran, is moving to try and switch its energy sales from the dollar to a preferred non-American currency - Iran is using the Euro, Russia is using the Ruble.

As I've said before, I'm skeptical that this will trigger, in and of itself, a flight from the dollar. That said, there's more than enough reason for private and public dollar-holders to run, screaming, from the greenback, so it's just possible that this will be the trigger event for the much-delayed dollar-correction.

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