o Restructuring of the Global Financial System

The weakness of the US dollar and the role of the United States in the global economy were topics at the Asia-Europe Meeting on Oct 24th and 25th. America’s economic hegemony is at risk since the world lost has confidence in its ability to right the financial crisis.

• Oct 25th, 2008: Welcome Ceremony of Asia-Europe Meeting (ASEM) in Beijing
  
• http://www.youtube.com/watch?v=e1QI486fPQY
• Reuters
• http://www.reuters.com/article/GCA-CreditCrisis/idUSTRE49N1XX20081024
  

Its interesting to note that the financial crisis is shifting alliances on a global scale. Russia, Venezuela, Iran and the Saudi's are strongly protecting oil prices through OPEC. The EU is looking towards China as the center piece of a new international financial system because of its huge cash reserves. Crazies!