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The president of Venezuela, Hugo Chávez, urged his Latin American allies to begin withdrawing billions of dollars in international reserves from U.S. banks, warning of a looming U.S. economic crisis.
Chávez made the suggestion Saturday as he hosted a summit aimed at increasing Latin American integration and countering U.S. influence.
"We should start to bring our reserves here," Chávez said. "Why does that money have to be in the north? You can't put all your eggs in one basket."