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Anti-Dollar Alliance Prepares Launch Of BRICS Bank
Three months ago we discussed in detail the growing anti-dollar hegemony alliances that were building across the BRICS countries (Brazil, Russia, India, China and South Africa). Their efforts at the time, to create a structure that would serve as an alternative to the IMF and the World Bank (which are dominated by the U.S. and the EU), appear to be nearing completion. As AP reports, Brazil's President Dilma Rousseff and Russia's Vladimir Putin have discussed the creation of a development bank to promote growth across the BRICS and hope to produce an agreement on the proposed institution at this week's BRICS Summit.
Brazil's President Dilma Rousseff and Russia's Vladimir Putin have discussed the creation of a development bank to promote growth in Brazil, India, China, Russia and South Africa.
Rousseff received Putin in the presidential palace in Brasilia on Monday, a day before leaders of the five emerging BRICS nations meet in the northeastern city of Fortaleza.
Rousseff told reporters the bank would top the summit's agenda, adding she hoped the event would produce an agreement on the proposed institution.
She said the five countries "are among the largest in the world and cannot content themselves in the middle of the 21st century with any kind of dependency."
Brazil and Russia also signed bilateral accords on air defense, gas and education
The leaders who will be present (not so many big fans of the US there)...
They seem serious:
- *BRICS DEVELOPMENT BANK KEY TO FOSTER GROWTH IN GROUP: BORGES
- *BRICS BANK AT 1ST TO FINANCE EXCLUSIVELY INFRASTRUCTURE:BORGES
- *RUSSIA'S PUTIN SAYS COOPERATION WITH CHINA IS GROWING
- *PUTIN SAYS RUSSIA TO PROMOTE CURRENCY SWAP WITH CHINA: XINHUA
As we concluded previously, as RBTH reports, it seems the BRICS are not slowing down efforts to create their own IMF-alternative...
The BRICS countries (Brazil, Russia, India, China and South Africa) have made significant progress in setting up structures that would serve as an alternative to the International Monetary Fund and the World Bank, which are dominated by the U.S. and the EU. A currency reserve pool, as a replacement for the IMF, and a BRICS development bank, as a replacement for the World Bank, will begin operating as soon as in 2015, Russian Ambassador at Large Vadim Lukov has said.
Brazil has already drafted a charter for the BRICS Development Bank, while Russia is drawing up intergovernmental agreements on setting the bank up, he added.
In addition, the BRICS countries have already agreed on the amount of authorized capital for the new institutions: $100 billion each. "Talks are under way on the distribution of the initial capital of $50 billion between the partners and on the location for the headquarters of the bank. Each of the BRICS countries has expressed a considerable interest in having the headquarters on its territory," Lukov said.
It is expected that contributions to the currency reserve pool will be as follows: China, $41 billion; Brazil, India, and Russia, $18 billion each; and South Africa, $5 billion. The amount of the contributions reflects the size of the countries' economies.
...
The creation of the BRICS Development Bank has a political significance too, since it allows its member states to promote their interests abroad. "It is a political move that can highlight the strengthening positions of countries whose opinion is frequently ignored by their developed American and European colleagues. The stronger this union and its positions on the world arena are, the easier it will be for its members to protect their own interests," points out Natalya Samoilova, head of research at the investment company Golden Hills-Kapital AM.
Perhaps the following sums it all up perfectly...
Economists warn the IMF's legitimacy is at stake, and they say U.S. standing abroad is being eroded.
"Eroded" indeed...
* * *
Read more here on the BRICS morphing into an anti-dollar alliance...
If the current trend continues, soon the dollar will be abandoned by most of the significant global economies and it will be kicked out of the global trade finance. Washington's bullying will make even former American allies choose the anti-dollar alliance instead of the existing dollar-based monetary system. The point of no return for the dollar may be much closer than it is generally thought. In fact, the greenback may have already past its point of no return on its way to irrelevance.
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When dow hits 19000 and every damn retail investor is 100% invested!!
I want to be able to use my bitcoins to open an account--without the transaction being reported to the all knowing one who shall not be named.
If they have a bank with 100B....isn't that Over TWICE the equity of the fed?!
The fed does not mark to market so who knows what their 'equity' is. They have a balance sheet with over $4T on each side.
Ford Class nuclear powered aircraft carriers backed up by 30,000 aegis class missile destroyers (est.) and 500 Virginia class nuclear fast attack submarines (est.)
You do not know what their "equity" is??? Really???
Take a good look in the mirror. You, along with 300 Million other Americans, are their equity. You are their Tax Slave. You are PROPERTY. You are the collateral. Your earned wages and the ability to tax YOUR LABOR is what backs that debt. You were sold into bondage...before you were ever born.
You do not know what the Fed's equity is? It is you as you are Human Livestock.
That is written into law...Admiralty Law.
Sorry for the truth but...
While I don't agree with some of the out-there stuff Jim Willie has said on other topics, every single thing that man has said about gold and the dollar for the last 10 years has come to pass.
How dare they!
They must be harboring "terrorists," have WMDs and "yellow-cake." Therefore the DC US, the banksters' and Israel's bulldog, must "preemptively" invade.
Colin Powell to the UN. Stat!
Colin Powell to the UN. Stat!
Don't forget the crayons.
Your shitty petro-dollar has fucked the USA out of the global business world and anyone with half a brain understands why. American hegemony
makes everyone dependent upon God damned retard sandwitch eating
Americans that can't add 2+2 to get 4 if their God damned lives depended on it. It is NO fucking wonder that these major countries in the world want nothing to do with you dumb fuckheads. Americans created a world class system of fraud and you are so shit-for-brains that you think we should all
keep supporting your lunatic fringe wackjob politicians like George Bush
and Bill 'oral office' Clinton.
Read my lips, no new taxes.
I did not have sex with that woman, Monica Lewinski.
DO YOU SEE HOW STUPID YOU LOOK, USA?
You are the alpha and omega of assclowns on the world stage!
What about Obama and the "anal office" you forgot to mention him.
"Oral Office". Didn't you see that last foreboding episode of West Wank?
It is only alledged compared to the Clinton's story that is known as a matter of facts.
But, hey, it is well known that, for 'americans', fantasy must prevail and that the burden of proof is irrelevant.
'Americans' will always look for symetry and most of the times, it gets them to seek their comfort in fantasy.
Many of us 'get it' but don't like it.
there was a price to be paid for the exorbitant privilege of having the reserve currency...we lost all our industry to Asia...but we got cheap oil for our SkiDoo!
Got an 800 GSX. That thing is a real hot rod...little on the heavy side though. Those 500 hundreds are really sweet though.
I told my kid about the great news but even he couldn't get excited about it.
It's easy to yell, "you goddamned Mericans!" But there are a whole host of criminals that are from all over the globe that have perpetuated this system; supranational actors are abound. America takes the lead, but the real criminals are not in the White House. They are in Davos and other posh hotels. You don't know their names and they play the strings of the puppets you mentioned. Understand the whole shit sandwich, not just the packaging.
Those supranational actors are 'american', they've all embraced the 'american' ideal, also known as 'americanism'.
Please, US has not cornered the market on stupid. France, as a perfect example, has perfected the art of stupid for several centuries. Best not to cast stones in glass houses.
It is easy to blame Americans for "letting this happen", but I've met too many that I like and respect. Some few of them are very smart too.
Then I watched American TV channels and saw just how blatantly they are being brainwashed. All their news is propoganda, all comercials serve to convince them that all problems are either someone elses fault (and they can sue) or can be fixed with a pill.
AMERICANS! Please turn off your TVs. I say this as a neigbor and freind.
Agreed.
But why no mention of the Zio fag paedophile global-money-laundering Brit poodle?
HEY!--You think we support this fucking shit?/
Anglo-American Alliance.
Just as Mr. Cecil Rhodes envisioned it.
Of course, the ruling class Euro Trash wanted to be in on it too since they ran the old club.
All one big happy family.
Must be Belgian.
I don 't think so... . As A belgian I think this, but talk nice ! :-)
Wait until the "true" cost of the World Cup is revealed and see how the October presidential election comes off. Brazil will be burning in the streets. Not sure how ethanol molotovs work. There is going to be real pain with the economy decelerating and people hearing they are coughing up 40 billion for the likes of other corrupt countries.
Well, all those Brazilians out on the streets getting angry about the World Cup cost have got the 2016 Olympic Games to look forward to. Preps have already begun.
I've concluded that the people running Brazil are mental cases that are begging for a roasting spit.
That's about right. Roussef and her predecessor Lula are both communists who claim to have switched to regular social democracy. Once a commie, always a commie(!)
This is a complete farce. If they really wanted to start a new banking system they would do it in secret!
Good point. But given how long we have been hearing about this, I'm guessing it already has been done in secret -between their central banks. These incrementlal anouncements about their progress may only be to measure US/Euro response and minimise the percieved need for sanctions. This way the US and Euro keep re-drawing their line-in-the-sand without actually responding.
What is really a sad joke is the way the US keeps punishing its "freinds" (frenemies?) like France and Germany for trying to look out for themselves hence pushing them to do business with Brics....
It will be interesting to see if they pay for the BRICS bank by pawning off all their US treasury bonds, thus pounding even more nails in the Dollar's coffin.
It will be interesting to see if they pay for the BRICS bank by pawning off all their US treasury bonds, thus pounding even more nails in the Dollar's coffin.
Wasn't that the idea? A way to do under the radar.The combined economies of BRIS is not equal to C (China). This is going to be another China's economic weapon to divest the $ holdings and acquire more resources in developing countries for its growth.
IMF/Bretton Woods, etc were all built from the base of the richest nations areound then. These are no longer economic powers. In fact, EC in particular in self delusional arrogance has blocked the representation of China and other emerging economic powers to have their say in the global economy. So this and even more development to replace the anachronistic institutions should be no surprises.
Putin is just the PR (point man) to irritate as China wants to keep out of the trigger sight of US. Nothing new from a self declared stand that it wants to focus on being an economic power before excersing real political/military power. It is only that many are not listening and get distracted from this far more insidious emerging economic hegemony.
Because an honest currency exchange backed by real goods is so much more insidious than pegging your currency to a monomaniacal money printing machine that never rests and forces you to trade in that currency.
Got it.
"They cannot content themseves with...any kind of dependency."
Pshaw! Pshaw I say! Clearly they need an injection! -Dr. Feelgood (that's me, not you). I've got a client list like those dead hookers just outside "the Loop".
Destroy the US dollar and trigger hyperinflation and it's game over for the insane Fed heads and Obama.
Which legitimacy?
What standing??
Mme Lagarde, what is the "magic" number telling you about the BRICS' future? Is there any room for the IMF at the table of this development bank? Doesn't sound like the IMF will be involved, no matter how much you wish for it.
G7 or G20 ... fuck you, Lagarde! The gig is up.
https://www.youtube.com/watch?v=QYmViPTndxw
Gold and silver all the way, baby!
The collapse is likely to happen anyway and the BRICS are just making it a bit more speedier and exciting.
The wall street thugs are so blinded by their own greed, that can't even see themselves stepping on their own mines.
BTW. Check out this inspirational video of "liberated" and "democratized" Afghani fighter who came to fight on the side of Slavs. This is the kind of true multiculturalism that America could not even dream of attaining. The US democracy crime syndicate is exposed to the rest of the world and their propaganda machine is no longer effective. America is falling asleep while the rest of the world is waking up.
Completely off topic.
Here's the German 747 flight LIVE heading back to Berlin from Rio where it's expected to arrive at 09:55am CET this morning. Celebrations when they arrive.
http://www.flightradar24.com/DLH2014/3d0d77a
Is Mutti on board??
Not likely. Mutti is on Luftwaffe 1. She probably met with Putin in Cuba again before heading home. All the action Merkel got yesterday was in the stands when the players hugged and kissed her and she grabbed their butts.
I think you're right. She didn't appear exiting the 747 when it arrived in Berlin.
Up yours Harvard graduates. Hope you like waiting tables.
I have a good Harvard commencement speech to share:
"You, lady. Your tits will be eaten by maggots... in a few short years."
https://www.youtube.com/watch?v=uSuwnj_qo40
Watch how for Germany responds to this.
I'm sure Mutti has already been talking trade agreements with the BRICS using their super-new non-dollar currencies.
she actually visited China, first, and then flew to Brazil from there
I want to know if she's on the 747 just arriving in Berlin from Rio with the football team on board.
her party, the Christian Democratic Union, offers the "Merkel App" on both iOS and Android: http://www.cdu.de/artikel/laden-sie-jetzt-die-merkel-app
but the Bundeskanzlerin has an official agenda posted on the web: http://www.bundeskanzlerin.de/Webs/BKin/DE/AngelaMerkel/Terminkalender/k...
there it says that today, Monday July 15th, she is scheduled to appear for a visit in Dubrovnik, Croatia, for the so called Brdo summit, where the region's 8 Balkan nations will discuss about regional infrastructure, energy projects and EU membership
in fact, on Sunday she was already in Berlin, with the Peruan president visiting her
so the answer is no
"...in fact, on Sunday she was already in Berlin, with the Peruan president visiting her"
Nope. She was in Maracaná on Sunday watching her football team beat the Argies. She watched the match and was present for the winning ceremony, hugging every player on behalf of the Fatherland. She MAY have left soon after, that would have been earliest 7pm Brazil time. In that case she would have arrived back in Berlin earliest 10:30am CET Monday.
my mistake. it was Sunday 13th in Brazil, Monday 14th in Berlin and today, Tuesday the 15th, in Croatia. I blame her Chancelorette Blog for not putting in the weekdays
I believe there are some major American financial elites behind this and what they desire to get is a major global war for their ultimate inflation play. Their motto is Inflate or Die. Be aware of this shit!
One of the toasts at my 3 sake lunch was to the death of the petrodollar
Between Fukushima and Abenomics we never thought we could outlast you
Sayonara Sawbucks
Say Hello to Haircuts
So are the BRICS preempting the IMF's Global Currency Reset scheduled for next Sunday July 20th? http://www.peakprosperity.com/forum/86163/imfs-planned-global-currency-reset Check mate?
Looks like a who's who of Third World hellholes.
THIS JUST IN @ 5:35 NY TIME 6/15 FROM THE WIRES....
"BANK OF ENGLAND'S CARNEY SAYS MY MIND IS NOT SETTLED ON RIGHT TRADE OFF BETWEEN COMPLEXITY AND SIMPLICITY FOR LEVERAGE RATIO"
YEAH............WHAT THE FLYING FUCK IS THIS CAT ON?
With all the manufacturing.
Everyone I talk to say "I get it you overbearing dick, I can...add,ok"
And I take a break, ok you win and then ask "so how are the kids then" eventually this will hit then like a ton of bricks. Now get your ass out of that crate and barrel catalog, do something useful and think ahead, shit , even on a whim even. All the couches aren't even comfortable anyways...
Gunnery Sergeant Hartman: If you ladies leave my island, if you survive recruit training, you will be a weapon. You will be a minister of death praying for war. But until that day you are pukes. You are the lowest form of life on Earth. You are not even human fucking beings. You are nothing but unorganized grabastic pieces of amphibian shit! Because I am hard, you will not like me. But the more you hate me, the more you will learn. I am hard but I am fair. There is no racial bigotry here. I do not look down on niggers, kikes, wops or greasers. Here you are all equally worthless. And my orders are to weed out all non-hackers who do not pack the gear to serve in my beloved Corps. Do you maggots understand that?
Chill brother, it's still early.
You made me long for Crate and Barrel.
so
option 1) deliberate reset with USUK banking mafia's support: this might have been the plan once but it doesn't seem likely to me now as they'd need to have built new nests in the BRICs first before pulling the plug on USUK and that doesn't seem to have been completed yet
option 2) stealth war against the USUK banking mafia: at the moment this seems more likely as the USUK banking mafia are just so insanely greedy and obviously want it *all*
The question then is how will the banking mafia respond to option (2)? Force or at least the threat of force seems the most likely which implies the banking mafia will line up with the neocons leading to an alliance of the banking mafia, neocons, MSM and congress with just the MIC to declare.
Hopefully the MIC will realise the banking mafia and neocons are likely to destroy the world and step in to prevent this turning into a major war. The second hope is the fatal flaw in the banking mafia's strategy.
What they've been doing for many decades is corrupting the political class and so now we have a situation where most current USUK politicians would sell their own mothers for ten grand. So if the BRICs have any sense they'll pull the rug out from under the banking mafia by buying congress.
Those are the three options I see:
1) MIC step in and throw the banking mafia into the sea
2) BRICs buy congress thereby taking the banking mafia/neocon hand off the steering wheel
3) major war or very close to it started by the banking mafia/neocons to terrorize the planet into continued dollar dominance
4) black swan
(nb if successful the replacement for the current banking mafia probably won't be that great either but they can't be worse)
Some interesting insight from a GREAT WEBSITE!!!
http://philosophyofmetrics.com/2014/07/14/brics-and-the-bank-for-interna...
Opened by throwing around the useful but meaningless perjorative "conspiracy theories", the author of the article cannot impart "insight".
PRINTING PRESS ENVY....... out of that crowd who is going to be the fuker and who the fukee.......
Come on now German, grow some and join the Anti-Bolshevik Federation and end this zio-roach cancer that is destroying the world. You've got historical knowledge of what these New Bolsehvik creatures are capable of so come on, get onboard with Russia and take down the zio-roach threat! The world needs you!
Puppet Merkel will have to replaced, first.
making deals with huylo from KGB is not good for your health.
Gold Wars: Battle for the Global Economy - the essential primer on the topic.
The New World Order taking shape?
July 20th is when the Head Occultist says it goes down!
<http://www.youtube.com/watch?feature=player_embedded&v=QYmViPTndxw>
the USD is an index with 6 offsetting currencies
europe is the largest economy, the US is second
some competition would be good for this - even though it's not really competition
GO FOR IT anti dollah ALLIANCE could build independence and self reliance and free the U.S. to do the same!
Wait until we stop buying ALL YOUR CRAP and you can't buy or won't buy our bonds as the knee jerk safe haven.
SHOULD BE INTERESTING.
A BARREL FULL OF EXCITING UNINTENDED CONSEQUENCES> SCREW YOU CHINA, tired of buying your crappy instant strip screw heads at Home Depot and Walmart AND OTHER CRAP PRODUCTS BECAUSE THE ONLY ADVANCE POSSIBLE IN LIMITED COMPETITION MASS PRODUCTION high INDUSTRIAL capitalism MONOPOLIES IS TO MAKE PRODUCTS CHEAPER AND CRAPPIER, SCREW YOU WITH HIGH INTEREST RATE LOANS AND SELL PRODUCTS THAT HAVE TO BE REPLACED SOONER BECAUSE THEY ARE CRAP. WELCOME TO ADVANCED INDUSTRIAL CRAPIFICATION SOCIETY. THE IDEAL IS A CROOK LIKE STEVE JOBS WHO MADE IT FASHION TO REPLACE HIS DOUBLY OVERPRICED PSEUDO USEFUL ELECTRONIC TOYS. Praise steve jobs my ass.
AND by the way how about a NATIONAL LAW FORBIDDING WALMART FROM BUILDING ANY MORE STORES IN THE UNITED STATES
INCLUDING WHEN THEY CLOSE ONE THEY DON'T GET A CREDIT TO REPLACE IT. GO ELSEWHERE WITH YOUR FOREIGN PRODUCED (CHINA MOSTLY)CRAP AND STOP DESTROYING THE ENVIRONMENT FOR YOUR OLIGARCHIC GAIN TO THE DETRIMENT OF EVERY PERSON, MANUFACTURING PRODUCTION AND THE ENVIRONMENT.
NO MORE WALMARTS STARTS HERE. HERE IS THE SIMPLE IDEA. WRITE YOUR CONGRESSMAN (THE CORRUPT WHORE) PUT UP A WEB SITE, SELL T-SHIRTS
PICKET THE WALMART CONSTRUCTION TO BE DESTROYING THE PRESERVE IN DADE COUNTY FLORIDA NOW ONGOING. ITS A LADY BIRD JOHNSON MOVE LIKE MAKING THE ROADS MORE BEAUTIFUL. IT HAS TO BE A FEDERAL LAW. WE DON'T NEED WALMART FUCKING US UP THE BUTT. WE DON'T NEED WALMART. LETS ELIMINATE AND HEAL THIS WOUND UPON OUR COUNTRY, OUR LAND AND THE WORLD'S PEOPLE. BURY THE MFs once and for all.
LATER GANG. THINK BIG - LETS FUCK THESE MOGULS OUT OF EXISTENCE, AT LEAST AS IT IMPACTS OUR DAILY LIVES GOING FORWARD.
NO MORE WALMARTS. NO MORE RATIONALIZED B.S. BURY THE DISINFORMATION MACHINE. SCREW THIS FASCIST POPSICLE STAND! (MR. BURNS i BELIEVE)
It is deeper then an anti-dollar alliance. What it IS, is a development alliance. A way to develop outside the norm since the norm has collapsed in on itself and won't allow development.
The U.S. should be leading the BRICS development alliance, or leading their own with them a part of it, but instead we have the British Empire depopulation and anti-development morons ruling our roost. Everyone not caught up in the fantasy, still feels the need to develop, and are ditching us.
It's British Empire vs. Development. The dollar has ceased to be a currency used for development, just bad debts, derivatives, 0 revenue stocks, and other (bailed out/ bailed in) scams.
So it's a pro-development bloc, which means it's anti-British Empire, which means it's currently against the dollar since we are subservient to their ideology, but we could ditch the British Empire and align with development like a sane country could. It's incredibly sad that the axis created in our mold, with a goal of development, is what we're against.
Glass-Steagall
Kind of a sovereign alternative fiat alliance...
to?morrow,... Today; Pepe Escobar writes about the, "BRICS against Washington consensus" , a must read, for whom the 'Roving Eye t?olls'?!?
http://www.atimes.com/atimes/World/WOR-01-150714.html
http://www.atimes.com/atimes/Others/Escobar.html