By Glendronach
Former “Happy Days” star Scott Baio jokes about Michelle Obama and gets real pushback in the form of death threats.
Is it only a matter of time before the Obama United Football Club hits the streets?
Oh, right:
UPDATE
More likely candidates for the OUFC mantle:
![[del.icio.us]](http://images.del.icio.us/static/img/delicious.small.gif){kind=small}
By Arran Gold
The free-spending Democrats, and the corresponding decline of the US Dollar, are forcing a rethink amongst the central bank. FT reported today that Russian central bank has started purchasing Canadian Dollar to diversify their bank reserve holding.
Russia’s central bank announced on Wednesday that it had started buying Canadian dollars and securities in a bid to diversify its foreign exchange reserves.
Analysts said the move could be a sign of increased diversification of emerging market central bank assets away from the dollar and into investments denominated in other commodity-linked currencies, such as the Australian dollar.
The Russian purchase seems to be little late in the game, given that the Canadian Dollar has rallied from under 80-cents to almost par, but the purchase seems to be part of a longer term strategy of diversifying into currencies that will benefit from inflation. The massive increase in the US money supply makes this a likely scenario.
