*Jim Sinclair's Commentary*
First China/Brazil and now China/Russia. The dollar rally is going to run
into real problems.
The set up is perfect. The 2nd week of June is coming up with a target for
the big lift off in the 3rd. $1650 is a minimum for this phase. Alf thinks
an overrun could be double that $1650.
Good luck to the Goons. Their window of opportunity, if the Goons have one,
is in the next 2 weeks ONLY.
*Russia, China should dump dollar in trade - Medvedev
**Fri Jun 5, 2009 3:07pm IST*
*MOSCOW (Reuters) - Russia and China should consider switching to domestic
currencies in bilateral trade without going to the dollar, Russia's
president Dmitry Medvedev said in an interview with Kommersant daily
published on Friday.*
*China has already entered similar agreements with Brazil and Belarus. The
deal involves a currency swap agreement between the two countries. Trade
turnover between Russia and China reached about $50 billion in 2008 and is
set to increase.*
*"I think that we can think about such positions, for example the rouble
against yuan," Medvedev was quoted by Kommersant as saying. Russia's own
attempt to switch to the rouble in bilateral trade with Belarus has so far
not been successful.*
*Leaders of Brazil, Russia, India and China, known by their BRIC acronym,
are meeting in the Russian city of Yekaterinburg on June 16 to discuss the
role of the dollar in the global financial system among other issues.*
*Medvedev said bilateral currency deals between trade partners ease impact
of the economic crisis in an environment when many countries have
difficulties tapping international capital markets.*
*More.
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