Dollar loses reserve status to yen & euro

[Pete]

Dollar loses reserve status to yen & euro

http://www.nypost.com/p/news/busines...70F8D6530791C5

".....Investors and central banks are snubbing dollars because the greenback is kept too weak by zero interest rates and a flood of greenbacks in the global economy.

They grumble that they've loaned the US record amounts to cover its mounting debt, but are getting paid back by a currency that's worth 10 percent less in the past three months alone. In a decade, it's down nearly one-third. ......."

[nmap]

This connects nicely with the latest Russell newsletter - attached.

Of particular interest (near the bottom) is the comment from a hedge fund operator named Paulson - he thinks gold will go up a lot. That's an implication of the dollar losing reserve status.

Another interesting little item is the discussion of the increasing amount of U.S. debt - the increase is accelerating.