Wednesday, March 18, 2009


"Be dressed ready for service and keep your lamps burning, like men waiting for their master to return from a wedding banquet, so that when he comes and knocks they can immediately open the door for him. It will be good for those servants whose master finds them watching when he comes. I tell you the truth, he will dress himself to serve, will have them recline at the table and will come and wait on them. It will be good for those servants whose master finds them ready, even if he comes in the second or third watch of the night. But understand this: If the owner of the house had known at what hour the thief was coming, he would not have let his house be broken into. You also must be ready, because the Son of Man will come at an hour when you do not expect him." (Luke 12:35-40)

I hope you are watchful... and ready.

At G20, Kremlin to Pitch New Currency

The Kremlin published its priorities Monday for an upcoming meeting of the G20, calling for the creation of a supranational reserve currency to be issued by international institutions as part of a reform of the global financial system.

The International Monetary Fund should investigate the possible creation of a new reserve currency, widening the list of reserve currencies or using its already existing Special Drawing Rights, or SDRs, as a "superreserve currency accepted by the whole of the international community," the Kremlin said in a statement issued on its web site.

The SDR is an international reserve asset, created by the IMF in 1969 to supplement the existing official reserves of member countries.

The Kremlin has persistently criticized the dollar's status as the dominant global reserve currency and has lowered its own dollar holdings in the last few years. Both President Dmitry Medvedev and Prime Minister Vladimir Putin have repeatedly called for the ruble to be used as a regional reserve currency, although the idea has received little support outside of Russia.....