Life imitates art and as in the Edgar Allen Poe classic Montresor seals the drunken Fortunato in the winery so do the BRIC (Brazil, Russia, India, China) participants with the foolish USA as they discuss moving away from the dollar as the reserve currency.Russian President Dmitry Medvedev will raise the issue of a global reserve currency at the meeting, top economic aide Arkady Dvorkovich, said.
Dvorkovich said BRIC leaders -- who control nearly $3 trillion in foreign currency reserves would also discuss the idea of investing their reserves in each other's currencies.Oh what interesting times I live in!
Yesterday we did some serious damage to the endless bull run from last March but we are still above key support levels. It will be interesting to see what unfolds this week. Our FXF trade is still alive and kicking. Good Luck!
