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Thursday, Nov 06, 2008
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Switching to other currencies

Apropos the article “Wanted: A new global currency” (Business Line, November 5), it is obvious that the confidence reposed by the global business community has been used by the US policy-makers to create a society which lives on future incomes and has forgotten the virtues and necessity of savings, thanks to its credit card culture.

There is a need to create an alternative currency to ensure that the hegemony of the dollar is reduced.

P. E. Muthu Mumbai

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