Top Chinese official calls for his country to drop dollar reserves for stronger currencies.

http://www.marketwatch.com/news/story/oil-rally-dollar-drop-gm/story.aspx?guid=%7B2AD1AE96%2D53ED%2D4FA0%2D8A49%2DC15EA663A93A%7D

U.S. stock futures slammed on oil, dollar, GM
By Steve Goldstein, MarketWatch
Last Update: 7:11 AM ET Nov 7, 2007
Print E-mail Subscribe to RSS Disable Live Quotes
LONDON (MarketWatch) -- U.S. stock futures were pummeled on Wednesday, with oil futures nearing the $100-a-barrel landmark ahead of key inventory data, the dollar skidding after a top Chinese official called for his country to diversify the country's trillion-dollar-plus currency stash and General Motors reporting a $39 billion loss.
S&P 500 futures fell 20.8 points at 1,504.20 and Nasdaq 100 futures dropped 23.25 points at 2,210.75. Futures on the Dow Jones Industrial Average lost 178 points.
U.S. stocks put in a strong performance Tuesday after some early losses, with the Dow industrials rising 117 points, the Nasdaq Composite growing 30 points and the S&P 500 rising 18 points. Oil majors like Exxon Mobil led stocks higher as oil futures rallied.
The oil rally continued on Wednesday, ahead of key energy inventory data to be released at 10:30 a.m. Eastern. Crude-oil futures rose as high as $98.62 a barrel, with bad weather in the North Sea also contributing to the rise. See story.
Cheng Siwei, vice chairman of the Standing Committee of the National People's Congress, was quoted by wire services as saying China should shift more of its $1.43 trillion of currency reserves into "stronger currencies," such as the euro, to offset "weak" currencies like the dollar.
The euro rallied to a new record high of $1.4703, and gold futures surged as high as $848 an ounce in electronic trading, up over $20.

more at link

while.

A while back there was an article on what Darth had in his investment portfolio, as best as could be determined. Nearly all was in non-US assets.

...it sure is significant!

This is how our country ends up in the gutter, and most people won't have a clue as to what this means. Not when Brittany might be pregnant again!

If China starts dropping significant dollars, we're all quite screwed. Start stocking up on Euros, gold, silver, even copper, along with necessities, canned goods, and plan on growing your own garden next year. If this comes about, we could very well be in a major depression come next year.