China and Russia should take an urgent initiative to set up a Asian Monetary Reserve to protect Asian economies from the disastrous effects of reliance on US dollar and the mechanics of a foul-play infested Western stock markets to cheat the ordinary people. The Thai and Indonesian economies have recently been battered by the US bailout to save the ailing US economy. It is a matter of pride that Asians abhor the idea of borrowing money to lead a superfluous empty meaningless life. It allows unscrupulous profiteers to make money through high interest rates to enslave the poor for live and make them poorer and allow the Wall Street and similar scoundrels to fatten their tummy with money cyclically in a 8-10 year cycle.