". . . But the past does not exist independently from the present. Indeed, the past is only past because there is a present, just as I can point to something over there only because I am here. But nothing is inherently over there or here. In that sense, the past has no content. The past -- or more accurately, pastness -- is a position. Thus, in no way can we identify the past as past." p. 15

". . . But we may want to keep in mind that deeds and words are not as distinguishable as often we presume. History does not belong only to its narrators, professional or amateur. While some of us debate what history is or was, others take it into their own hands." p. 153

Silencing the Past: Power and the Production of History (1995) by Michel-Rolph Trouillot

Wednesday, June 17, 2009

BRIC Meeting Calls To Remove U.S. Dollar As Global Reserve

We're not hearing about this much over here.

This is where Iran's Mahmoud Ahmadinejad is -- at this summit. In spite of the uprisings at home.

Recall what happened in Georgia, about which so much remains muddy?

Is there possibly some connection among these events? I'm not making any statements or declarations, but I distrust anything that brings certain sorts together, that include certain very strong lobbies here in the U.S., for us to intervene militarily. You know who those usual suspects are.

[ YEKATERINBURG, Russia – The leaders of four major emerging economies — Russia, China, Brazil and India — apparently failed Tuesday to reach consensus on reducing the dominance of the U.S. dollar despite growing calls for an alternative global reserve currency.
The four, seeking a greater role in global financial institutions, held the first summit of the so-called BRIC grouping after two days of meetings of the Shanghai Cooperation Organization, another group that Russia has sought to use to reassert its role on the global stage.

Moscow tried to mount a new challenge to the U.S. dollar as the world's reserve currency and Russian President Dmitry Medvedev pushed his call for more global reserve currencies.

"No currency system can be successful if we have financial instruments denominated in just one currency," Medvedev said. "We must strengthen the international financial system not only by making the dollar strong, but also by creating other reserve currencies."

He said that new ones will take long time to emerge, but that "The main reserve currency, the dollar, has failed to serve its purpose."

Now, imagine what your life will be like with the U.S. no longer the global reserve currency.

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