"It must be remembered that diversification--the selling of U.S. dollars by central banks--has been taking place consistently during the entire reserve accumulation process, " Galy said.

FORBES: Currencies

The process of making these decisions comes from an accumulation of experiences and encounters with a multitude of difference circumstances, personality types and unforeseen failures.

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It said that "an accumulation of significant errors... resulted in a flawed process".

BBC: Rail line