Just call me Cassandra … I see a bad moon a rising …

A senior Asian Development Bank official said on Thursday that the dollar was likely to decline further, and he called for East Asian countries to make sure that their currencies rose in unison and did not gyrate.

The remarks by the official, Masahiro Kawai, represented the first time that the bank — or for that matter, any important monetary institution in Asia — had urged collective action by East Asian nations to manage the current slide of the dollar. National monetary authorities in the region together hold more than $3 trillion in foreign reserves, most of it in dollars, and their huge purchases of dollars this year have played a crucial role in limiting the American currency’s decline until now.

“We believe that some U.S. dollar depreciation would be necessary, and collective joint appreciation of the East Asian countries could be needed” to manage the decline, Mr. Kawai said. “It’s very important for the East Asian currencies to appreciate collectively against the U.S. dollar.” Full

Katie bar the door! Oops too late. Asia is finally making its long anticipated exodus out of the dollar. Being ushered out the door by under the cover of media China and the oil countries are seeking safe haven else where. Did I mention that the Shoshone are being pushed off their land?