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Despite assurances from some that the declining dollar will remain the world's primary reserve currency, there may be an emerging threat -- the Russian ruble. That is, at least, if Hugo Chávez has his way:

Chávez echoed Russian calls to make the ruble a major reserve currency in opposition to a weakened dollar. "The ruble must become a world currency," he said. "The dollar must not become a world currency."

After inking a $1 billion arms deal in Russia, Chávez continues his European tour with visits to Belarus, Portugal, and Spain. No word on whether he's considering a stop to see Barack Obama's speech in Germany.