china, argentina to trade in chinese currency , page-4

Well the Dragon is starting to roar at the elephant in the room! lol

Argentina and Brazil signed a pact late last year abolishing the USD in bilateral trade - so Argentina quite comfortable with sort of arrangement. The Brazilian President stated back then that "We are going to abolish the dollar as a currency in our trade."

Following the announcement last week with China - Indonesia are starting to look at more currency swap agreements with other trading partners.

Like I queried last week - what are Australia likely to do? Hmmmmm

Meanwhile Venezula's Chavez is having another swipe at the USD too and whilst his proposal is considered unlikely - it all goes to add to the voice for change on the Reserve Currency front(got to be Gold +ve):

http://www.huffingtonpost.com/2009/03/31/petrocurrency-chavez-seek_n_181136.html