World Banks Moving Away from U.S. Dollar

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Central banks around the world are increasingly moving away from the dollar into other currencies.

Bloomberg News reports that they're buying more euros and Japanese yen.

Central banks are essentially a national bank, like the U.S. federal reserve.

International bankers and foreign governments warn that the U.S. government is printing too much money in order to finance its huge annual deficits and that cuts value of the dollar.

One Italian money manager tells Bloomberg, "In the long run, the U.S. will not be the same powerful country it once was."

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