July 31, 2007 (LPAC)--Speaking July 21 to a summer camp meeting of the youth group Nashi, Russian First Deputy Premier Dmitri Medvedev said he thought the crisis of the U.S. dollar "may become general and global in nature." Interfax reported that Medvedev added, "A situation may arise where we, China, and some other Asian countries will talk about the emergence of a regional reserve currency. That may be the yuan, but it is in our interest that it be the ruble."

At the St. Petersburg Economic Forum in June, President Vladimir Putin also suggested that the time has come for multiple world reserve currencies, including the ruble. He said that Russia might want to denominate its exports in rubles.

LaRouche has noted on many times, the dollar must be defended and protected. No "basket of currency " approaches will prevent a total breakdown of the system.  Only a well-reasoned restructuring of the U.S. dollar-based system, where the U.S. dollar is kept at the currency of reserve for the world, will prevent such a global collapse.