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

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