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BRICS Plan To Become "Political Alliance" To Reform The International Financial System

Tyler Durden's picture


As the world slowly turns against US Dollar hegemony, it appears the BRICS are pressing to fill any gaps. Having created the BRICS Bank "alternate to The West-controlled IMF or World Bank," Xinhua reports that Russian Foreign Minister Sergei Lavrov believes the BRICS mechanism has been fully developed and can now transform into a political alliance to "reform the international financial system."


As Xinhua reports,

The BRICS mechanism has been fully developed and can transform into a political alliance, Russian Foreign Minister Sergei Lavrov said Friday.


"BRICS grows and matures in all directions," the diplomat told state-run Rossiya 24 TV channel.


Lavrov said the "qualitative" growth of the mechanism to a degree made it possible to transform into a political alliance, which is especially noticeable in its work within the Group of 20 (G-20) on global economic and financial affairs.


BRICS that groups Brazil, Russia, India, China and South Africa has many allies in the G-20, the minister noted, naming Argentina, Mexico and Indonesia in particular.


"They speak in the common voice with BRICS in the G-20 on the reform of international financial system," the diplomat said.

*  *  *


For those who have forgotten who the BRICS are, aside from a droll acronym by a former Goldman banker, here is a reminder of the countries that make up 3 billion in population.


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Sat, 07/19/2014 - 16:09 | 4977760 gh0atrider
gh0atrider's picture

Countdown to magik number 7?

Sat, 07/19/2014 - 16:14 | 4977768 ZerOhead
ZerOhead's picture

Because Obama

"Yes they can..."

Sat, 07/19/2014 - 16:21 | 4977799 Keyser
Keyser's picture

With a shrinking military, the US will have to be selective in naming the next nation on their 'Axis of evil' list... 

Sat, 07/19/2014 - 16:26 | 4977811 ZerOhead
ZerOhead's picture

Maybe they could economize with a rotating "Enemy of the Month" program...

Sat, 07/19/2014 - 16:36 | 4977835 BaBaBouy
BaBaBouy's picture

There Exists Only 3 Basic Components To A Solid, Fair, Honest, And Bulletproof International
Financial/Banking System:

Physical GOLD, Physical GOLD And Physical GOLD...

Sat, 07/19/2014 - 16:49 | 4977871 DoChenRollingBearing
DoChenRollingBearing's picture

And while most of the BRICS have a pretty hefty chunk of physical gold holdings, it is hard for me to see how Russia and China cooperate in the longer term.

Poutine is China's bitch?  :p

Sat, 07/19/2014 - 17:17 | 4977935 ZerOhead
ZerOhead's picture

That's just missile envy speaking...

Sat, 07/19/2014 - 17:20 | 4977940 Urban Redneck
Urban Redneck's picture

Replace the guy in the middle with this brown bear...

Sat, 07/19/2014 - 17:23 | 4977950 SafelyGraze
SafelyGraze's picture

hear hear!

both an economic union *AND* a political union!

with a president elected by a commission!

nigel farage


Sat, 07/19/2014 - 18:06 | 4978066 Elvis the Pelvis
Elvis the Pelvis's picture

The BRICs are screwed.  America is running this ship, bitchez.

Sat, 07/19/2014 - 18:15 | 4978093 quasimodo
quasimodo's picture

Sure, and that ship's props are sticking high up in the air, about ready to plunge to the bottom of lake gitchiegoomie. They might be running it alright, but it's going the wrong fucking direction.

Sat, 07/19/2014 - 20:20 | 4978475 negative rates
negative rates's picture

Was that Jimmey Carter in the background?

Sat, 07/19/2014 - 21:00 | 4978578 The Alarmist
The Alarmist's picture

The fly in the ointment is where the oligarchs can stick their money in "flight to safety" moments.  The BRICS have a reason to do what they are doing, but do they have a means of preserving wealth and making it somewhat more secure than what might be achieved by parking wealth in USD-denominated assets?

Sat, 07/19/2014 - 22:04 | 4978774 chumbawamba
chumbawamba's picture

They look like a super hero squadron: The Flying Heads of State.


Sun, 07/20/2014 - 00:35 | 4979031 CheapBastard
CheapBastard's picture

People will shit a BRIC when they wake up one day and may find their paper dollars are devalued 40%-60%.

Sun, 07/20/2014 - 07:02 | 4979225 GetZeeGold
GetZeeGold's picture



To Reform The International Financial System


Gonna stick your ass in the reform school with Rolling're all on notice bitchez!



Sun, 07/20/2014 - 09:46 | 4979439 Oh regional Indian
Oh regional Indian's picture

Old picture, India has a new man at the helm. This spineless example of "leadership" is now on the dung-heap.


That said, just look at how awkwardly the ex Indian PM is holding "hands" with Dilma and the Bear.

Kind of speaks for India's position in the BRICS, totally weak. 

But wake up calls are coming everywhere...let us see what happens in India next.

For now, unless a magic cure or a desu ex machina appears patient is terminal...


Sun, 07/20/2014 - 04:39 | 4979174 Squid-puppets a...
Squid-puppets a-go-go's picture

To answer your Alarmist question (see what i did there?) - Yes they do have a means of preserving wealth. Suprize surprize, its called physical gold. (With india's exception) they are all stacking it and/or mining it, and with the alternative exchanges they have set up, they at very, very short notice can flip the switch on the west and declare their BRICS bank to be supported by golden BRICS

And at least half of the oligarchs of the west would abandon the wests banking system in a second - indeed, it looks like they have been positioning themselves to jump ship for the last 2 decades

Sun, 07/20/2014 - 07:06 | 4979228 GetZeeGold
GetZeeGold's picture's Willie!


Fear and loathing from Costa Rica!


Sure wish Hunter S was still around at this juncture.

Sun, 07/20/2014 - 07:08 | 4979229 AlmostUncirculated
AlmostUncirculated's picture

Yup, Jim Willie is reaching quite alot of people and I like the style and manner of his Youtube interviews.

Sun, 07/20/2014 - 13:31 | 4980174 matrix2012
matrix2012's picture


"this website is not available"


just like Asia Times Online - was not accessible shortly after MH17 was shot down!



Read it here... article is alive


Obama's Ukraine Fiasco Imperils Economy | Alternative News & Commentary

Sun, 07/20/2014 - 08:30 | 4979306 chubbar
chubbar's picture

His thesis that US/UK are in cahoots appears correct with this mornings report that Cameron is scolding the other EU nations for not moving fast enough to sanction Russia over the shoot down of MH17, as if all the facts are known and it is a foregone conclusion that Russia is actually responsible. Looks pretty clear to me that the US/UK desparately need to pin this on Russia in an attempt to slow or stop the BRICs move towards another trade/currency/political union that pulls in the rest of the EU.

Sun, 07/20/2014 - 10:46 | 4979599 ThirteenthFloor
ThirteenthFloor's picture

If you follow you history, you will note the Rome Empire moved to Venice, then to the UK.  You will also note the Financial Center of world is based in UK.  Note LIBOR...Rothchild's Inter-Alpha banking et. al. You will also see a lot of connections....Sir John Hocker that invented war bonds in proviences of Italy (from UK).  John Law that destroyed France was a Scots man.  The hits on Lincoln and Hamilton was funded from the UK.  Most of the serious bad dudes in recent years connect back to UK. I hear the missing 28 pages from the 9/11 report involves BAE/Saudi arrangements.

The spying on US citizens started in UK to avoid US law, and the spying on UK citizens was done by the US to avoid UK law.

Who was it that openly called Putin "Hitler" last was the "Monarchy".

Sun, 07/20/2014 - 10:19 | 4979533 ThirteenthFloor
ThirteenthFloor's picture

If you were in a room and two sides were starting to form for a tug-a-war, and you saw the big bad bully boss-man go to one side, you hate him because he takes ten percent of all your earnings and stands over your shoulder in every thing you do, and threatens you and starts RUMORS about you all the time, oh yes he is a coke head and....

Then you saw two, then three medium size guys, who rarely bother you, but one has a lot of resources and the the other makes a lot of stuff, and you make your stuff and you USE the resources of one guy and some of the other guys STUFF too, you TAKE the side of the medium sized guys and go for the WIN.

Elimination of the the big bad boss man, what else would you do ?

Sat, 07/19/2014 - 20:37 | 4978518 MontgomeryScott
MontgomeryScott's picture

Let me add a little to the comment that you made.

MOST will not be familiar with the wreck of the ship called 'Edmund Fitzgerald' (either the event, or the song that memorialized it, sung by Gordon Lightfoot).


The legend lives on from the "Chippewa" on down,

To the big lake they call "Gitche Gumee".

SUPERIOR, they said, never gives up her dead

When the gales of November come early!

(Correction to posted 'lyrics' on this P.C version of Youtube. 'Say' is not correct. 'SAID' is correct.)


Here is a documentary by the Smithsonian that details this event:

"They might be running it alright, but it's going the wrong fucking direction."

The propellers were designed to take a bite out of WATER, not AIR. They were turning correctly; but the weight of added cargo in the form of water caused the props to become INEFFECTIVE by raising them out of this liquid that they were designed to operate in. OF COURSE it is 'going in the wrong direction'.

People try to make it complicated, and fail to realize the fact that the ship is sinking.


Sat, 07/19/2014 - 21:20 | 4978634 Ralph Spoilsport
Ralph Spoilsport's picture

Thanks for the link on the documentary.

BTW, Lightfoot's song received heavy airplay on FM radio when it came out in 1976 and is still popular as a golden oldie. A lot of us boomers are very familiar with the song and the story of the lake freighter's sinking.

Sun, 07/20/2014 - 03:01 | 4979126 Rock On Roger
Rock On Roger's picture

Yup, play it on my guitar.

A haunting ballad...

Sun, 07/20/2014 - 11:13 | 4979670 ThirteenthFloor
ThirteenthFloor's picture

> Engineer Scott

That song is a classic.  However I see it more like Pete Townsend "Punk Meets the Godfather"

PUNK = "You declared you would be three inches taller, you only became what we made you, thought you were chasing a destiny fell and cried as our people were starving, now you know we blame you."

GODFATHER = "I'm the guy in the sky flying high, flashing eyes, no surprise I told lies.  I'm the new president and I grew and I bent"

PUNK = "Your axe belongs to a dying nation, we're the slaves to a phony leader"

GODFATHER = "The bloody faces slowly pass, The numbered seats in the empty rows, it all belongs to me you know."

We are live watching the 'clash of titans" in our own time.

Sat, 07/19/2014 - 21:40 | 4978697 TheFourthStooge-ing
TheFourthStooge-ing's picture


Sure, and that ship's props are sticking high up in the air, about ready to plunge to the bottom of lake gitchiegoomie.

It tends to remind me that the mighty and fearsome battleship Bismarck was crippled and left to her fate by a dog-slow biplane torpedo bomber.

Sat, 07/19/2014 - 19:21 | 4978293 Tall Tom
Tall Tom's picture

Yeah. Captain Yellen of the Titanic says damn that iceberg of Debt ($17 Trillion above the Water with the remaining $170 Trillion in Unfunded Liabilities below the water and unseen.). Keep sailing (printing).


Unfortunately the damage caused by striking that iceberg has been fatal. While the leaks in the hull may be small the pumps cannot keep up And the compartments are flooding in liquid(ity). The scramble for the Lifeboats is happening as the First Class is launched away from the sinking ship with partially filled Lifeboats with amenities.


The Steerage Class is kept from the truth by the stewards, people like you, and prevented from venturing up to the top decks. Meanwhile they are drowning in an Ocean of Debt, barely able to keep their heads above water, as the price inflation drowns them.


The Second Class passengers (the Working Class) are scrambling for the lifeboats but the stewards are restricting access only to women (EOE laws) and Children (AFDC welfare laws) while their men are sentenced to an early death through drowning in the Ocean of Debt. They built the ship through their labor and contribution only to let an incompetent Captain wreck it through insane orders.


Some are still in denial, seeking to play Musical Deck Chairs, and seeking to become First Class . There is now some room as some of the First Class has already left. But Lifeboat access is denied to these new players.




I can write that and you will not feel any remorse whatsoever. That is what is truly sad.

Sat, 07/19/2014 - 20:09 | 4978443 MontgomeryScott
MontgomeryScott's picture



(See avatar picture for eludication)


Sun, 07/20/2014 - 00:52 | 4979042 Tall Tom
Tall Tom's picture

For clarification the comment was directed at Elvis the Pelvis...


Look at the time stamps.


But I agree that your avatar is quite poignant and applicable.


OT...Did you read my response to you the other night about which God that I worship?


Always enjoy your thoughtful responses...

Sun, 07/20/2014 - 04:52 | 4979177 TREE MAN
TREE MAN's picture

Brilliant for future economic text books

Sun, 07/20/2014 - 12:24 | 4979997 Hongcha
Hongcha's picture

Nice metaphor Tall Tom.

Sun, 07/20/2014 - 13:54 | 4980299 Plato's Law
Plato's Law's picture

Interesting post.

I've not read all the books on the sinking, but I can not imagine a better book to read than the Congressional Testimony, all first hand reports, no, "I heard someone say..." 

As is often the case with major accidents with large numbers of lives lost, multiple errors contributed to the Titanic tragedy.  The following come to mind but I likely forgot several:

White Star Lines managers selected Captain Smith (his final voyage before retiring IIRC) because he had a stellar 30+ year career with no major accidents.  With perfect hindsight, we see several items occurred that would likely not if someone with more experience of the dangers involved was Captain.  For instance:

The man in charge of the bridge while Smith slept that night was too junior in rank.  Immediately upon hearing report from the Crow's Nest of the oncoming iceberg, he ordered full stop motor and hard rudder away from the ice.  The latter order was good.  The former order was fatal, because it increased turning radius.  A ship's turning radius decreases with forward propulsion, and increases without.  The order violated rules learned in Sailing 101, probably the first day.

Speaking of steering: the ship's rudder was far too small for the ship's size.  

The ship was no speedster, and there is every reason to believe Titanic would never attempt to establish new speed record for it's course.  IOW, it was not "speeding" when it struck the ice berg.

Smith cancelled the "mandatory" Sunday life boat drill because he was having so much fun signing autographs after Protestant Sunday Service.  This was an indirect fatal error: the Irish ship builders constructed the largest ever life boats, and personally filled each seat with a strapping ship builder in testing.  When stewards started filling the boats after the iceberg hit, the stewards had never seen such large life boats.  The stewards having no sense of the ability of the boats to hold so many persons (no Sunday drill), lowered them away half filled or less.

The day the ship sailed was the first day its crew ever assembled as one.

"Glasses" (binoculars) were missing for Crow's Nest occupants.

The ship's course was the inverse of one layed out for safety: the safest route was to immediately arc southward toward warmer water away from the ice, then turn due west toward America.  But of couse, instead the ship sailed directly westward, then intended to arc south only later as it approached the US.  The longer the ship stayed north, the more likely was an ice berg hit. 

The Titanic sinking lead to Congress' first direct and permanent funding of the Coast Guard.  It also lead to establishing international crime for any ship ignoring sign of distress at sea. 

Sorry, forgot the name of the book, but I highly recommend it.  The star of the book is the Congressman who called the hearings. 

Several acts of valor occurred, including (IIRC) multimillionairs Astor and Vanderbilt who died so that others might live. 

The Titanic show at LV rocked, loved it.

Sat, 07/19/2014 - 20:46 | 4978539 gatorengineer
gatorengineer's picture

The BRICS are nothing to worry about.....  lets be realistic.  Russia an South Africa have resources.  India China an Brazil hungry mouths and none have a middle class.

All 5 are oligarchies....  we are becoming / became/ an oligarchy....  The world is much closer to the end game, than I think anyone realizes....  the next financial crisis is what will put it in play, one world government.  The US and Western Europe will get hit the hardest, and in the sense of societal damage the BRICS will suffer the least.

Sat, 07/19/2014 - 21:38 | 4978691 MontgomeryScott
MontgomeryScott's picture

Not bad.

Not too bad, at all!

You are learning!

Now, grasshopper, try to snatch the pebbles from my hand. (My feet are really burning. Perhaps it is the load of burning coals that I am obligated to walk over)

"The US and Western Europe will get hit the hardest,..."

Nuclear strikes and 'pre-emptive wars' are like that, I suppose. Would it be better to be a victim of this type of warfare; or a survivor of such?

Is it better to be obliterated' or rather suffer the torture of the 'night of a thousand long knives'? Would it be more heroic to die on one's feet, or be killed on one's knees? Are the needs of the few to outweigh the needs of the many, or is the opposite the truth? Is the goal of 'SOCIETY' really more important than the goals of 'FAMILY'? Is PROCREATION the enemy of HEDGEMONY? Are OLIGARCHIES afraid of the actions of FREE WILL by those that they claim to reign over?


"The world is much closer to the end game, than I think anyone realizes..."

When emphasizing a point, three periods (not FOUR) are obligatory. I took one of these off when cutting and pasting your statement. GOD HELP US if the 'dictum-spelling' police show up...


Sat, 07/19/2014 - 21:46 | 4978709 tickhound
tickhound's picture

"Brics are nothing to worry about"

Who's worried? Unless you currently have hegemony. In which case the trend is clear no matter the players.

It's amazing how often people wish dollar hegemony doom and then as soon as the world revolts against, those same people are there to defend the very sanctimony.

OMFG everyone DONT PANIC!!! All is well!

What you're seeing is a trend that won't stop. Don't bash the first players to step up formally.

Many nations have come before the BRICs in attempt to do the same.

The difference is we can't WAR THESE nations.

I've never seen more people on this site indirectly defend the dollar until now.

It's pathetic.

Sat, 07/19/2014 - 21:47 | 4978725 Woodyg
Woodyg's picture

The leaders of the bricks better watch their backs - and those plane engines -
Lots of clay in graves from taking on the monetary elite -

Sun, 07/20/2014 - 04:01 | 4979161 Calmyourself
Calmyourself's picture

Sorry but neither China nor india can feed themselves, the South Africans are about to undergo a brutal race war and Russia pays its citizens to procreate as their demographics suck.  I want change as much as anyone here but doubtful these are the horses to bet on..  Just too many systemic vulnerabilities, agreed!

Sat, 07/19/2014 - 23:10 | 4978919 WhackoWarner
WhackoWarner's picture

Dear Mr. Pelvis.


I have said in the past how stupid this "bitchez" comment is.  But your pay grade (membership 11 weeks) does not give access to this high grade info. 

Sun, 07/20/2014 - 04:03 | 4979162 Calmyourself
Calmyourself's picture

Multiple accounts, you will get used to bitch slapping him and his idiotic S. Korean self loathing blog..  Only one thing of value about him and you can get it in higher quality elsewhere.

Sat, 07/19/2014 - 20:07 | 4978439 MontgomeryScott
MontgomeryScott's picture

@ DoChen:

You are seeing the correct (and unfortunately true) story.

", it is hard for me to see how Russia and China cooperate in the longer term."

China and Russia are both voracious in appetites, and jealous of each others' capabilities. They have been mortal enemies for millenia, and will continue to be so in the future. RIGHT NOW they are playing the game of 'An enemy of MY enemy is my FRIEND', regarding the 'western alliance', but once it is defeated (and it WILL be), they will not hesitate to become hostile towards one another again.

The 'downvotes' are most likely due to the fact that you asked the question regarding Putin being a Chicom male's bitch. The Chicoms generally have smaller statures (and hence penises); and while they seem able to propogate heftily, they will not be the ones 'on top', once the dust settles. The Chinese, like the Central and South Americans, are not only smaller, but also suffer quite HEAVILY from 'little-man syndrome'; which makes them INSANELY JEALOUS of a larger dicked man (be he white, black, or Caucasoid).

It's not the size of the ship. It's the motion of the ocean.

Some women like a short ride on the 'Queen Mary', and some appreciate an all-day fishing trip on a small speedboat. MOST women are fickle, though, and never satisfied; no matter WHAT.

The Chinese and the Russians are GAMING each other (and the CONUS, INC. is the current GAME OF CHOICE).

The Q.C. in the East is really quite bad, you know; when it comes to repeatability in production and materials of iron and steel manufacturing of precision items such as 'roller bearings'. It has gained by leaps and bounds within the past 10 years or so (probably due to the importation of the high-quality steel from the WTC complex), but it has a long way to go before it can be deemed as 'high-quality'.

The Chi-coms got this steel, and the Ruskies didn't. They don't really care. though, because they have their own sources.

I'm still trying to find out about the 'B' thing. Brazil doesn't seem to have anything (exept for the rumors of the Hitlerian exodus of '45, combined with some remarkable pharmecutical advances that make men into women; and women into men). I think that it's not only 'transsexual', but also 'trans-humanist' alliances in play here. Russia, India, China, and South Africa ALL seem to have stuff that women WANT and DEMAND in order to feed their vanity (gold and diamonds), but BRAZIL?

The Island Of Dr. Moreau?


Sat, 07/19/2014 - 20:55 | 4978561 johny2
johny2's picture

Instead of downvoting, I will try to enlighten you. A country with resources and a means to protect these resources is formidable, as is the group of people who run it. Du chen is underestimating value of hydrocarbons backed by nuclear weapons.  I skipped the rest of your comment, as it seemed to stray too far of the course in my opinion. 

Sat, 07/19/2014 - 21:43 | 4978707 MontgomeryScott
MontgomeryScott's picture




Enlighten me, oh wise sage.

Sat, 07/19/2014 - 22:12 | 4978788 johny2
johny2's picture

I wrote I would try, it remains to be seen if it can be done. As for Brasil, among other things, they produce food which together with oil is highly prized in China and India. Cooperation is possible.

Sat, 07/19/2014 - 20:47 | 4978543 zer0concerns
zer0concerns's picture

Do, I always respect your comments and you got that ass lit up with the downers.
I can't up/down vote ya b/c I don't why you think that. Would you give your reasoning for why they will not?
Do...isn't the long term interest of everyone exclusive to their own interests?
Didn't the good doc hank killinger(Nobel peace laureate don't you know) say something similar to that?
What would be your long term interest, sir, if you don't find any offense in my query?
Don't worry about me...I got zero Fucking concern.
And, again,I really do always find your comments be pretty reasonable.

Sat, 07/19/2014 - 22:40 | 4978848 Space Animatoltipap
Space Animatoltipap's picture

Well, they have a very determined, committed and megalomane common enemy which is called the US.

Sat, 07/19/2014 - 23:11 | 4978925 WhackoWarner
WhackoWarner's picture

Come on. i gave you more credit than this.  Maybe one too many?

Sat, 07/19/2014 - 18:48 | 4978204 Da Yooper
Da Yooper's picture

There Exists Only 3 Basic Components To A Solid, Fair, Honest, And Bulletproof International
Financial/Banking System:

Physical GOLD, Physical GOLD And Physical GOLD...



Oy vey veee vill hab to do someting to vix dis




var dis guud vee hab to start da var


Sat, 07/19/2014 - 19:35 | 4978226 gatorboat
gatorboat's picture

I doubt we'll ever get back to physical gold/silver coins (what constitution calls for), gold backed is close as we'll get, and that's exactly what the new asian alliance has in mind.

Forget BRICS, it's outdated.  It's the asian alliance now.  Russia & China primarily, Germany joining in first tier eventually.  India & Iran second tier.  Other asian nations going along for the ride.  I don't think brazil and south africa will be part of it.

It will be the biggest thermonuclear alliance on the planet.  That's the important part.

Sat, 07/19/2014 - 22:54 | 4978885 tarsubil
tarsubil's picture

No government wants gold backed currency for the same reason Nixon closed the window, it interferes with robbing the populace. These guys are just fighting over the spoils, they are not riding in on a white horse. They are all going to be dragged kicking and screaming to gold as currency.

Sun, 07/20/2014 - 01:09 | 4979057 Tall Tom
Tall Tom's picture

They are all going to be dragged kicking and screaming to gold as currency.


They are all going to be dragged kicking and screaming to the guillotines as they removed gold as the backing to the currency, creating the fraudulent environment.


Fixed it...


When the masses figure out how much they've been defrauded then there will be hell to pay for these, and their children, and their children's children. (Not that I support the slaughter of the children but that is the way it historically works out.)

Sun, 07/20/2014 - 09:41 | 4979417 A82EBA
A82EBA's picture

The masses are not capable of understanding what's happening to them. They wouldn't get it if you spent 2 weeks teaching it to them..much less figure it out for themselves. I hope this shit blows up in my lifetime.

Sun, 07/20/2014 - 02:27 | 4979096 AllWorkedUp
AllWorkedUp's picture

Here's the thing though, if the BRIC's don't develop a currency or system of payment that is backed by gold, oil or grains - some form of hard asset - and try to compete with their own fiat, they are doomed to failure. Period.

Sun, 07/20/2014 - 10:44 | 4979613 indigoboy
indigoboy's picture

I'd like someone else to crunch the numbers below to see if I'm onto something or maybe spending too much time with the bottle ? 


The BRICS countries have just opened a new joint bank and put $100 billion US dollars in it. Using US dollars seems counterintuitive?  But what if ?

Please check my figures and maybe confirm or demolish my conclusions?

World Gold reserves as of 2014 suggests that jointly the BRICS hold :

B              R              I               C                  S

67     +      1035   +   557   +     1054    +      125   (tonnes)

So total BRICS joint tonnage of gold holdings   =  2838 tonnes of gold.

1 tonne =   35,274 ounces.

So the BRICS hold 2838  x  35274   =  100,107,612 ounces of gold (jointly)

If we use a base figure of $1000 per ounce as the price of gold, we can say that the BRICS joint gold holding has a value of  :

100,107,612  x   $1000    =  $100,107,612,000

A figure which is *astonishingly close* to the $100 billion deposited into the new BRICS bank ?

Could it be, that in the next few months they [BRICS], might be planning to 'flip' those US dollars in their new joint bank account to [ BRICS Drawing Rights ] on a one to one basis with the US dollar, and then follow through by pegging each new BRICS unit of new currency to a value of 1000th  of an ounce of Gold ??


Sat, 07/19/2014 - 16:30 | 4977823 Xibalba
Xibalba's picture

I know a place that respects individual freedom, has the 2nd highest standard on living in the Americas, never experienced a recession, and is in the Southern Hemisphere.  Oh wait...they have an automatic 90 travel visa for those with a USA passport!  And no unemployment problem!  AND all drugs are legal for individual consumption!  Remarkably there's no crime..... the only question one needs to ask is ....why the hell would you still be living in the US?!?!

Sat, 07/19/2014 - 16:40 | 4977851 Mr Pink
Mr Pink's picture

Where ? Where? The suspense is killin me!

Sat, 07/19/2014 - 16:47 | 4977866 Joe A
Joe A's picture


Sat, 07/19/2014 - 16:51 | 4977882 Xibalba
Xibalba's picture


Sat, 07/19/2014 - 16:46 | 4977867 Oldrepublic
Oldrepublic's picture

The Oriental Republic of Uruguay. Motto: freedom or death!

Sat, 07/19/2014 - 16:52 | 4977885 Escrava Isaura
Escrava Isaura's picture

Not Uruguay!


Sat, 07/19/2014 - 16:54 | 4977888 Xibalba
Xibalba's picture


Sat, 07/19/2014 - 16:56 | 4977894 Escrava Isaura
Escrava Isaura's picture

Sorry! I am deleting it immediately

Sat, 07/19/2014 - 17:33 | 4977981 RafterManFMJ
RafterManFMJ's picture

Man, I LOVE chili - especially in the winter.

Sat, 07/19/2014 - 18:48 | 4978199 hobopants
hobopants's picture

With or without the beans?

Sat, 07/19/2014 - 19:00 | 4978241 RafterManFMJ
RafterManFMJ's picture

Jalapeño, cheese, beans - the works.

Sat, 07/19/2014 - 21:01 | 4978584 The Alarmist
The Alarmist's picture

Sour cream too?

Sat, 07/19/2014 - 18:53 | 4978222 Kirk2NCC1701
Kirk2NCC1701's picture

In the final analysis, Freedom lives in the mind.

Sat, 07/19/2014 - 20:30 | 4978502 Mitzibitzi
Mitzibitzi's picture

Although a really fucking big gun helps. Even the United Federation of Planets leaves room around the science labs, holodecks and recreation facilities for the phasers and photon torpedoes, dude!

Yeah, I'm a trekkie, too.

Sun, 07/20/2014 - 04:38 | 4979170 UselessEater
UselessEater's picture

erm Uruguay or Paraguay?

Paraguayans: Republic or Death!
Our spirit gave us liberty
Neither oppressors nor slaves exist
Where union and equality reign.

Sun, 07/20/2014 - 08:16 | 4979293 tvdog
tvdog's picture

An ironic anthem for a nation where 99% of the land has been accumulated by oligarchs by a process of outright theft.

Sat, 07/19/2014 - 21:39 | 4978694 dizzyfingers
dizzyfingers's picture


Sat, 07/19/2014 - 16:29 | 4977825 Escrava Isaura
Escrava Isaura's picture

Title: "Political Alliance" To Reform THE INTERNATIONAL FINANCIAL System


Then Keyser: a SHRINKING MILITARY in the US


Me: What could possible go wrong?

Sat, 07/19/2014 - 16:42 | 4977856 ZerOhead
ZerOhead's picture

Less explosion more implosion...

Sounds like a plan.

Sat, 07/19/2014 - 16:45 | 4977863 Escrava Isaura
Escrava Isaura's picture


Implosion first. Then explosion to distract.

Sat, 07/19/2014 - 16:49 | 4977875 ZerOhead
ZerOhead's picture

You've got to pay for the explosions before the implosion or the checks won't clear...

Sat, 07/19/2014 - 16:55 | 4977891 Escrava Isaura
Escrava Isaura's picture


It didn't cross my mind you would be creative...too

Sat, 07/19/2014 - 17:42 | 4977995 COSMOS
COSMOS's picture

If the USA hears that then many more jumbo planes will fall out of the air over respective countries lol

Sat, 07/19/2014 - 17:03 | 4977893 ZerOhead
ZerOhead's picture

I still say the solution is not multi-$T global wars but multi-$T projects like the Columbia River to dusty dry California offshore pipeline but it will need a little "grease" to get it going.

Hence : The California Rehydration And Crony Kickback Pipeline.


That way I still get my cantaloupes and fresh veggies out of season despite the ongoing drought. They are the money-melons.

Sat, 07/19/2014 - 17:11 | 4977926 Escrava Isaura
Escrava Isaura's picture

Money-melons are great and good for you... I heard.

But I would take those seeds someplace else. And it is NOT Uruguay.... or Chile.

Sat, 07/19/2014 - 17:44 | 4977999 COSMOS
COSMOS's picture

What, that radioactive infested Columbia River that washes through the Hanford Nuclear Site

Pleaaaaaaase no

Sat, 07/19/2014 - 18:11 | 4978083 Escrava Isaura
Escrava Isaura's picture

ZerOhead.... Is Cosmos right?

Are you trying to poison the Hedgers?

Sat, 07/19/2014 - 18:30 | 4978147 COSMOS
COSMOS's picture

Just look at his avatar, how do you think he got that way, I hear that pussy cat drinks from the Columbia river everyday.

Sat, 07/19/2014 - 18:35 | 4978163 ZerOhead
ZerOhead's picture

FYI... We don't drink... we lap.

Sat, 07/19/2014 - 18:39 | 4978150 ZerOhead
ZerOhead's picture

Look... Fukushima already dumped way more radioactive cesium and strontium in that river basin than the Hanford contributions of plutonium, uranium, phosphorus-32, zinc- 65, chromium-51, neptunium-239 and arsenic-76 combined... so quit being so fucking picky.

Besides... the FDA now terms these waters as enriched with rare minerals these days. So get with the program.

And as a bonus... did I forget to mention the free seasonal delivery of fresh Pacific salmon piped direct to California?


Sat, 07/19/2014 - 18:52 | 4978215 Escrava Isaura
Escrava Isaura's picture

So you sure don't want to see the fresh air coming from the north


Sat, 07/19/2014 - 20:44 | 4978534 Dublinmick
Dublinmick's picture

I was just going to mention Hanford cosmos. 

Sun, 07/20/2014 - 02:41 | 4979104 August
August's picture

In the coming decades, the "American People" will learn to be happy with less.

In fact, they won't even be the same "America People".

Sat, 07/19/2014 - 18:41 | 4978177 roadhazard
roadhazard's picture

We'd be balls deep in Ukraine or back in Iraq now if we could afford it. The worlds policeman is broke.

Sat, 07/19/2014 - 20:27 | 4978497 stant
stant's picture

With a few exceptions, if the us was attacked on the ground it be like Hannibal lecter in a daycare

Sat, 07/19/2014 - 23:33 | 4978961 WhackoWarner
WhackoWarner's picture

Yippee is all I can say.  And I am a member of a "advanced economy".  Canada; what a frigging joke. Bumfuck lackey.

Sat, 07/19/2014 - 16:12 | 4977773 Bossman1967
Bossman1967's picture

O shit the briks figured it all out and our dollar is screwed thanks Washington

Sat, 07/19/2014 - 20:24 | 4978488 RaiZH
RaiZH's picture

 Don't you worry... they are thinking of more sanctions and false flag events, don't lose hope!

Sat, 07/19/2014 - 23:43 | 4978973 WhackoWarner
WhackoWarner's picture

O shit the briks figured it all out and our dollar is screwed thanks Washington



No.  No and No.  Thanks very much to Ken Ley.  To Enron. To deregulation and creation of the fantasy world of illusion.  Thanks to Ken Ley. Poor guy needed to make more money and deregulate everything so all money became Vegas.  "What happens here stays here". 

Vultures jumped on it. Now we have have trillions in bets on absolutely nothing. I bet 1 billion that a penguin farts in Antartica. Jamie takes the bet at 2 to one.  Then we piece off the risk?  Hundred fold and sell it to whomever is now promised money for nothing.


Sat, 07/19/2014 - 16:17 | 4977787 Tao 4 the Show
Tao 4 the Show's picture

Alliances are complex at present. The game will be watching how they shake out.

Sat, 07/19/2014 - 16:45 | 4977864 Joe A
Joe A's picture

OT, I somehow see a smiling Hitler in your smiley. Which is creative. I just have a paper bag.

Sat, 07/19/2014 - 16:52 | 4977883 DoChenRollingBearing
DoChenRollingBearing's picture



Tao 4 the Show

I think you are reading this correctly.  The BRICS may not like the current $IMFS, but their $100 bn is not much really, and their rivalries will eventually tear that edifice apart.

China vs. Russia

India vs. China

Sat, 07/19/2014 - 17:19 | 4977939 Escrava Isaura
Escrava Isaura's picture

They won't be using dollars but their currencies.

And they have lot more than $100 billion dollars—not that will matter

Sat, 07/19/2014 - 17:43 | 4977992 DoChenRollingBearing
DoChenRollingBearing's picture

$100 billion is what they will be putting in (total) into the CRA ("Contingent Reserve Arrangement").  The "BRICS Bank" is actually TWO institutions: one will be similar to the IMF (the CRA) and the other like the world bank ("NDB", the New Development Bank).

See this link, the text is everywhere for the CRA (and note that the text of the agreement itself says that they will put in US dollars!):

Google just gave me a lot of options leading to the same text.  Take a look at the above (warning: very long!) or Google "CRA, BRICS, Bank" if you don't believe me.

Sat, 07/19/2014 - 17:47 | 4978007 Escrava Isaura
Escrava Isaura's picture

Great! Thanks for the link, DoChen.

Now, check the link below

You, being in Peru, South America, and Korea, Asia, will appreciate…

Sat, 07/19/2014 - 18:10 | 4978076 DoChenRollingBearing
DoChenRollingBearing's picture

Nice, thank you.  If the Chinese want to pay us $2 million MORE than what our condo (here in the US) is worth, they are welcome to it.

China several years ago (8?  10?) bought Peru's HierroPeru, and they also have at least one copper/gold mine that they own there.

S Korea is friendly to China, at least in part due to old hostility with Japan.

China has a lot of dollars.  They have to put them somewhere.  Buying hard assets is smart.

Sat, 07/19/2014 - 18:15 | 4978095 Escrava Isaura
Escrava Isaura's picture

My pleasure!

Now, what would you do with $2 million dollars?

And how about capital gains?

Sat, 07/19/2014 - 18:29 | 4978145 DoChenRollingBearing
DoChenRollingBearing's picture

Let's make it happen first!  I don't want to count my chickens before they hatch.

Sat, 07/19/2014 - 18:34 | 4978154 Escrava Isaura
Escrava Isaura's picture



Sat, 07/19/2014 - 19:07 | 4978259 hobopants
hobopants's picture

I think the small amount of initial funds is probably just a trial run, get the infastructure in place, get the bearings greased, start building clients and then gradually switch to a system that isn't based on the USD. You know, see if it's going to work before going all in.

I don't think it is designed to overthrow king dollar so much is it is designed as a fail safe for when king dollar dies, which is inevitable.

I think you have a point on the old rivalries, they need to eventually go to gold backed in order to mitigate the potential trust issues that could arise from past conflicts / old grudges.

Looks to be more motivated by self preservation than anti-western sentiment.

I don't see it replacing the current world system, but it could replace a part of the world system.



Sat, 07/19/2014 - 21:26 | 4978647 Escrava Isaura
Escrava Isaura's picture

Hobopants..., you said self preservation

That's right! The BRIC's are jumping ship because they can see the water while we still here dancing.


Sat, 07/19/2014 - 23:53 | 4978986 WhackoWarner
WhackoWarner's picture

Look what happened with this "small initial agreement"? Look what happened with Putin and Merkel sitting watching World Cup.  That was far more than some idiotic, teleprompter photo op.  That was a statement.  We get planes down, crap on every news outlet. Propoganda at speed of light. Tell me please how a common goal of ending abused tyranny is less forceful than a decayng arrogance?

Sun, 07/20/2014 - 02:47 | 4979109 August
August's picture

>>>The game will be watching how they shake out.

Germany will play its cards cautiously, but it is the key.

South Africa, not so much, though they do offer a handy base for exploiting Africa.

Sat, 07/19/2014 - 16:17 | 4977789 disabledvet
disabledvet's picture

Can't wait for the first corruption trials!

Oh, wait...

Sat, 07/19/2014 - 16:20 | 4977794 Skateboarder
Skateboarder's picture

Meet the new boss: same as the old boss!

Sat, 07/19/2014 - 16:19 | 4977790 ebworthen
ebworthen's picture

Russia only has 144 Million population?  That seems odd to me.

Any reform of the international financial system would be welcome.

Especially if it competes with the International Malevolence Fund and the hegemony of Wall Street/Brussels crony banksters.

Sat, 07/19/2014 - 16:24 | 4977809 piratepiet
piratepiet's picture

Brussels crony banksters ?  You think Brussels is financial linchpin akin Wallstreet/New York ?  I think it is surpassed by London, Frankfurt, Paris and Amsterdam(?) in this regard. 

Sat, 07/19/2014 - 22:14 | 4978794 tickhound
tickhound's picture

Brussels is ground zero for the monetary criminal union that is the EUROzone... And is used by those not so semantically anal to pretend they're teaching the rest of us something.

Sat, 07/19/2014 - 16:29 | 4977824 indygo55
indygo55's picture

How come these charts don't show DEBT per capita or some measure of soverign debt? Isn't that the real problem to begin with?



Sat, 07/19/2014 - 17:24 | 4977961 Oldrepublic
Oldrepublic's picture

Russian population will decline by around 23 million by mid century

Sat, 07/19/2014 - 17:35 | 4977962 oudinot
oudinot's picture

USSR had many more millions-around the same as US till 1990- but Russia lost the Ukraine (Brezhnev's birth place), Latvia, Estonia, Kazakstan and other Stans (someone please help me, incompetent in knowledge of 'Stans') , Georgia (Stalin's birthplace) and maybe Armnenia , I'm not certain.

Russia has an extremely very low fertility rate, chronic alcoholism -their life span is very low compared to Western standards.

I've worked with some Russian, Jewish geologists from Siberia and they are the toughest men I have yet workled with;  very hard vodka drinkers.

How does one replace the SWIFT wire with all the banks?  Are there alternatives now?  That, I think, is the biggest hurdle for the BRICS et al and make take many years if not decades to replace.  However, I am willing to change my humble opinion with someonne who actually  understands this process.


Sat, 07/19/2014 - 17:58 | 4978043 Winston Churchill
Winston Churchill's picture

The Chinese already have an alternate to SWIFT up and running.

Can't remember the name right now,its on the tip of my tongue.

Sat, 07/19/2014 - 19:27 | 4978327 Monty Burns
Monty Burns's picture

Indeed the population of Russia (the non-Muslim element) is in sharp decline.  Yet Soros is spending hundreds of millions promoting and enabling 'reproductive rights' (read: birth control, abortion).

I wonder why? (Scratchin' ma haid)

Sat, 07/19/2014 - 19:57 | 4978364 Treason Season
Treason Season's picture

Russia has an extremely very low fertility rate, chronic alcoholism -their life span is very low compared to Western standards.


 AIDS has also been a significant factor in Russia's population decline.

Sat, 07/19/2014 - 17:47 | 4978006 COSMOS
COSMOS's picture

What people forget is that Russia is like Canada, only a thin strip to the South is livable and crop productive.  The majority is tundra.  At 144 million, its doing pretty good.

Sat, 07/19/2014 - 17:57 | 4978040 Escrava Isaura
Escrava Isaura's picture

Looks like that is some type of productive there:

Sat, 07/19/2014 - 16:20 | 4977795 medium giraffe
medium giraffe's picture

OT:  I hope you're all enjoying the MH17/Israel/BRICS shitstorm, but don't forget about Fuku! :)


CBS: “Many miles away… spike in cesium detected this week”


....and the hits just keep on coming!


Sat, 07/19/2014 - 17:14 | 4977830 ZerOhead
ZerOhead's picture

The FDA has just determined that Cesium is an essential component of a healthful diet.

The RDA has been set to 500 millirems but may be raised without further notice...

Sat, 07/19/2014 - 16:23 | 4977805 tony wilson
tony wilson's picture
BRICS Plan To Become "Political Alliance" To Reform The International Financial System


never underestimate the blood lust of the mossad,the cia and the mi6.

numerology and satanism a belief system

child rape and murder a ritual sport

satans  kosher gang have lost a bush  a bressinski and a bandar god willing.

time for them all too be gone.


Sat, 07/19/2014 - 17:22 | 4977951 Escrava Isaura
Escrava Isaura's picture

Tony.... “them all too be gone.”

Who are them?

Sat, 07/19/2014 - 18:30 | 4978148 christiangustafson
christiangustafson's picture

Do you have a newsletter?

Sat, 07/19/2014 - 19:04 | 4978252 Escrava Isaura
Escrava Isaura's picture

christiangustafson, .... Do you have a newsletter? And, it go 1 arrow up.


Sat, 07/19/2014 - 23:01 | 4978805 christiangustafson
christiangustafson's picture

No newsletter, sir.  But I do have a blog.

You do know that I was asking if Tony Wilson has one, right?  I'd like to invest on his insights.

Sun, 07/20/2014 - 10:00 | 4979483 Escrava Isaura
Escrava Isaura's picture

Uhmm! I think I got it now.

Sorry. Sometimes I am a little slow.

Anyway, looked at your blog and it’s obvious that you know what you’re doing. As well as what’s going on. Just not sure if the Russia flag is appropriate with the message below.

But good luck with your blog. Nice layou

Mon, 07/21/2014 - 12:56 | 4982259 matrix2012
matrix2012's picture

@ christiangustafson

You may dig out starting from Dean Henderson's "Big Oil & Their Bankers In The Persian Gulf:  Four Horsemen, Eight Families & Their Global Intelligence, Narcotics & Terror Network"

Check his ***NEW*** 'LEFT HOOK' at

the previous was discarded!

Sat, 07/19/2014 - 16:26 | 4977813 astroloungers
astroloungers's picture

So this is a suprise? How long was the rest of the world going to eat our crap while we tried to convince them it is choclate cake? As a world power we have greatly misused our "Reserve Currency" status. It is amazing that it has lasted this long. how I wish we would have leaders who were honest and made good use of the position. So yes these other countries will probably succeed in building an alternative currency......unless our leaders (Yellen ,Dimon etc) scream holy hell and bomb those mother fuckers back into the stone age.

Sat, 07/19/2014 - 17:13 | 4977930 ZerOhead
ZerOhead's picture

Who needs Au when you've stockpiled so much Pu.

Got it!

Sat, 07/19/2014 - 18:09 | 4978072 Escrava Isaura
Escrava Isaura's picture

Not really because you need uranium.

Anyway, enlighten us here.

Sun, 07/20/2014 - 09:00 | 4979339 tvdog
tvdog's picture

Pu = plutonium. Plutonium serves the same function in international relations as lead does in interpersonal relations.

The facetious assertion above is that if you have nukes you can steal gold.

Sat, 07/19/2014 - 18:13 | 4978087 RafterManFMJ
RafterManFMJ's picture

The good news is the loss of reserve status means the economic distortion and the modern progressive fantasies will have to come to an end.

Things like

Mindless, uncontrolled immigration
Affirmative Action
.gov medical insurance
The FIRE economy
Bankruptcy of many Universities
Bankruptcy of many cities / states

The bad news is it may lead to 25+ million dead as the country frays and realigns.

Sat, 07/19/2014 - 19:31 | 4978339 Monty Burns
Monty Burns's picture

True but it has to happen if there's going to be the Great Reset. Let us hope that the banksters and politicians who sold their country down the river swing for many months on the gibbet.

Sun, 07/20/2014 - 03:06 | 4979132 August
August's picture

>>>As a world power we have greatly misused our "Reserve Currency" status. It is amazing that it has lasted this long.

The US generated enough "freedom and democracy" good-will during the Cold War era, that most of the world was willing to continue accepting American leadership, if only as a lesser evil.  The political power of the Cold War generations is fading now, and the homicidal incompetence of the Bush 'n' Obama years has largely erased America's good reputation.  It's only a matter of time until USA The World Hegemon is gone; hopefully, it goes with a whimper, and not a bang.

Sat, 07/19/2014 - 16:28 | 4977818 putaipan
putaipan's picture

#1- didn'tknow stiglizt  was assisting in this (see democracy now)

#2- never seen anyone able to take micheal hudson to task before, but some guy had some very  good counter points (see RealNEws)  sorry no linkies- watched them on tv.

Sat, 07/19/2014 - 16:28 | 4977819 putaipan
putaipan's picture

#1- didn'tknow stiglizt  was assisting in this (see democracy now)

#2- never seen anyone able to take micheal hudson to task before, but some guy had some very  good counter points (see RealNEws)  sorry no linkies- watched them on tv.

Sat, 07/19/2014 - 16:28 | 4977821 FishHockers
FishHockers's picture

I'll have the hot fish, reheated.

Sat, 07/19/2014 - 16:29 | 4977826 Tortuga
Tortuga's picture

This will end well.

China, Russia, and India have practiced endemic fraud for centuries, I see the new; gag, democracies of SA and Brazil being picked clean and then "It's Bush's fault".

I used to think our system was honest; however, our banksters only go back to the Queen's and Rothschilds foundings. So, IMHO; our banksters are pikers compared to these miscreants.

Sat, 07/19/2014 - 16:35 | 4977837 _ConanTheLibert...
_ConanTheLibertarian_'s picture

Name one country which isn't corrupt.

Sat, 07/19/2014 - 17:47 | 4978012 oudinot
oudinot's picture


Do NOT follow this link or you will be banned from the site!