Dude, where's the Dharma: "At some point, if it hasn't already happened, the rest of world's leaders will begin to note that the west set up the international financial architecture they now claim is flawed and didn't follow the rules of the system. The current gang running the show, from both sides of the aisle, has yet to come forward with a realistic plan for solving the problem other than suggesting that the world should continue to trust their ability, despite evidence that they are incapable of doing just that.
The idea that, having strong armed many emerging market economies into buying US Treasuries as a form of protection, the same economies should now hand over a large chunk of these reserves to be managed by the very guys who have put the US in the financial straits it currently finds itself, seems absurd to me. It's kind of like a fox wanting to guard a chicken coop."
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