October 7, 2008

How Bad Could it Get?

Well. For those of you who like horror movies or apocalyptic tales, this one will satiate you. It has a link to the automatic earth blog, which I can't recommend, but sounds worth checking out.

I ran across it while looking for the reporting on an Iceland official saying that the days of the US international reserve currency are over. Iceland is negotiating a 5 Billion Ruble loan from Russia. I hear Russia has also told Belarus that it wants to conduct future sales in Rubles, not dollars.... just a rumor at this point.


1 comment:

libhom said...

I see Russia's assistance of Iceland as a positive step. I would like to see Russia exert its new power in a positive way.

Many countries are trying to stop trading in dollars. My only worry is that trading in rubles would put Belarus at a disadvantage. If the Russians would accept Euros or pounds or yen, it would be less disconcerting.