New BRICS Banking alliance

[VooDoo6Actual]

http://www.bloomberg.com/news/2013-03-25/brics-nations-plan-new-bank-to-bypass-world-bank-imf.html

Speculate all you want this is BIG news in the Geo-Political realm of the world. Pay attention to the the players, their economies, resources etc.

[montanadave]

I agree. A very interesting development. Frankly, I think the current status quo vis-a-vis international banking and monetary policy could use a little shaking up.

It will also be fascinating to observe the level of cooperation these BRIC nations are able to summon. Certainly they share powerful emerging markets and a common resentment towards the heavy influence of US/European banking interests, but they have vast cultural, political, and economic policy differences.

[brickboy240]

This BIG big news...and it should be scaring everyone here.

However, I did not see ANY mention of this on the morning news. Not a peep.

Sort of how the news articles on China and Russia deciding to use the Yuan and not the USD in petroleum purchases between their nations was ignored. That was also huge news. If more nations join in and the USD is no longer the currency in which most of the world buys crude oil....we are doomed.

The BRIC nations look at our debt/spending problems and those of old Europe and see a bleak future and want to bypass us and the World Bank.

...can you blame them?

-brickboy240

[Irish]

The future is going to be very interesting for the next generation. Thanks for posting this.

[interfan]

In broad terms, the scarcity and demand for oil and commodities are the only thing that is countering the Obama admin's dollar killing policies. Should another currency find its way as the new standard, the dollar is dead.

It is in the best interests of BRICS nations to find their own solution. Today, they can make it happen. They have the resources and common disdain for Euro-American manipulation of markets at their cost.

The morning news won't show anything. It is beyond your average Obama voter's comprehension and the only reporting by the main stream media will be from the rubble where "Bush wrecked the dollar" will be the cry as a postmortem. Never mind QE2 & QE3 were on Obama's watch and the acceleration in Treasury manipulating the market (along with regulation) has also increased at an exponential level from the 2007/08 QE1 policy under Poulson. Poulson had some restraint and stated goals (even though it was very bad policy). Geitner had no real aim outside of providing 'free' funds for stimulus and entitlements and no restraint, and no understanding (or care) of long term effects on markets. Jack Lew is a drooling imbecile. He will sink the ship.

[montanadave]

The dollar's status as the world reserve currency is a mixed-bag. As in the Triffin Dilemma:

"The Triffin Dilemma – advanced by the Belgian economist Robert Triffin in the 1960s – suggests that the holder of the paramount currency faces an inherent contradiction. It must run a structural trade deficit over time to keep the system afloat, but this will undermine its own economy. The system self-destructs." (http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100022332/a-new-gold-standard-is-being-born/)

Letting somebody else shoulder some of the burden is not necessarily a bad idea, particularly if the anticipated exponential growth of these emerging BRIC economies is going to suck the United States dry to supply their currency demands.

[cinco]

Good link VD6A... Interesting times indeed.

Killing the PetroDollar
http://theeconomiccollapseblog.com/archives/petrogold-are-russia-and-china-hoarding-gold-because-they-plan-to-kill-the-petrodollar


10 Reasons Why The Reign Of The Dollar As The World Reserve Currency Is About To Come To An End
http://theeconomiccollapseblog.com/archives/10-reasons-why-the-reign-of-the-dollar-as-the-world-reserve-currency-is-about-to-come-to-an-end

[Moose-Knuckle]

And the only thing that the MSM could talk about today was gay marriage. :rolleyes:




“There’s a shift in power from the traditional to the emerging world. There is a lot of geo-political concern about this shift in the western world.”

:help:

[Cagemonkey]

Very interesting. I don't expect the evil duo of Rothchild and Rockerfeller to let their golden goose go down so easily.

[Moose-Knuckle]

Very interesting. I don't expect the evil duo of Rothchild and Rockerfeller to let their golden goose go down so easily.

Have no fear, they profit from all sides to include BRICS.

[Cagemonkey]

Have no fear, they profit from all sides to include BRICS.I agree about the profit part. They have a history of playing both sides. The real question is how this fits their Global Domination plan?

[VooDoo6Actual]

I agree about the profit part. They have a history of playing both sides. The real question is how this fits their Global Domination plan?

Expect the unexpected & assume it's all corrupt & suspect at this point. As we are all a part of this one.

The best you can expect is to prepare to have a chair left when the music stops & survive as best you can whatever context that describes for your situation.

Hurdle the dead & trample the weak....

[Cagemonkey]

Expect the unexpected & assume it's all corrupt & suspect at this point. As we are all a part of this one.

The best you can expect is to prepare to have a chair left when the music stops & survive as best you can whatever context that describes for your situation.

Hurdle the dead & trample the weak....Thats what I was afraid of. Prepare for the worst and pray for the best.

[Voodoochild]

So what happens when China's economy goes bust. It will happen sooner or later they are hiding an ugly truth. Not to mention all the environmental issues they have and that 500 on gorilla they are trying to keep on a leash (NK).

Make no bones about it China is in it for the resources nothing else. Why do you think they want to invest in Africa so badly. It isn't because they like the neighborhood.

[6933]

Expect the unexpected & assume it's all corrupt & suspect at this point.

Hurdle the dead & trample the weak....

Two quotes that describe our(wife and I) viewpoints. All the while managing to have fun and laugh.

[VooDoo6Actual]

Two quotes that describe our(wife and I) viewpoints. All the while managing to have fun and laugh.

Ain't it the truth.

My girl's on board & get's it, we have as much fun as we can as well.

[armakraut]

BRICS, a veritable who's who of unstable crime-ridden inflation-plagued states. It's like a mobster with gambling problems trying to get into loan sharking less affluent gamblers to bring in extra cash.

[Iraqgunz]

The same reason why they are in southern Iraq attempting to exploit as much oil as possible. They also consider their people on the ground as expendable.


So what happens when China's economy goes bust. It will happen sooner or later they are hiding an ugly truth. Not to mention all the environmental issues they have and that 500 on gorilla they are trying to keep on a leash (NK).

Make no bones about it China is in it for the resources nothing else. Why do you think they want to invest in Africa so badly. It isn't because they like the neighborhood.

[Mjolnir]

Russia has the missiles and China has the troops...

Combined with the other non-aligned nations expect a lot of pain and punishment before it gets any better.

Finance may very well be the mechanism to bring down the house of cards. It also explains the current militarization inside the borders of the USA,

[Caeser25]

And the only thing that the MSM could talk about today was gay marriage. :rolleyes:





:help:

Shocker.

[VooDoo6Actual]

http://i40.photobucket.com/albums/e225/teehee321/BGJMcttCAAAV-J2_jpg-large_zpsec997443.jpg

[brickboy240]

No kidding!

Hell...I brought this up in the now closed gay marriage thread. That this is a distraction issue used to divert attention away from our economic and monetary woes.

Someone there said I was "ignorant" for not thinking that gay marriage was the most important issue facing America. (LOL...whatever!)

Like the Karsashians, Dancing with the Stars, American Idol and professional sports....gay marriage IS being used to distract most Americans away from the very dangerous things going on with our monetary policy.

Have you noticed the lack of coverage and outrage over the credit downgrades we have seen? How about the UK credit downgrade? Seen any discussion over China and Russia deciding to trade for crude oil in Yuans and not the USD? This latest move by the BRIC countries also got little play while gay marriage and Tiger Woods took center stage.

Yep...most Americans know little or nothing about these issues. But they ARE having quite an effect on our lives and in the near future, we will see the Euro come apart and the USD lose even more value.

If you ask me, our monetary activities and those of the larger nations around the world IS the biggest issue. It will eventually affect everything in our lives.

-brickboy240

[THCDDM4]

VD6A-Thanks for posting this.

The rate at which the FED is printing money is more than enough to cause massive problems for our economic future in and of itself. Especially when unemployment (Real unemployment- not the new way of reporting it) is taken into consideration, and all of our industries are in delcine here in the USA.

It seems our "leaders" are playing on the other teams side with what they have been doing, and what they are NOT doing...

Coupled with the China/Russia run to secure gold reserves and natural resources, China/India/Brazil slowing their economies down to further devalue the world market and plunge USA/Europe deeper into the recession whilst racing to create a bank/means of trading without utilizing the dollar as the reserve currency-

One only has to look so far into the future whilst taking the past into consideration to see that the charade is almost over and the cards are about to be layed on the table. The music is about to stop.

I shudder to think what is going to happen when China actually has enough gold reserves to back the Yaun, get it pegged to the petro dollar and can then dump USA treasuries/debt onto the world market without the repercussions they would currently face in doing so.

Don't be fooled into thinking this wasn't a construct of the financial elite (Rothchilds/Rockefellers, and all the other keynesian dickheads)- they play both sides every time so they will always come out on top profiting from demise and prosperity alike.

The next few decades are going to be interesting- painful but interesting indeed.

[VooDoo6Actual]

http://i40.photobucket.com/albums/e225/teehee321/549984_349323095104488_889182003_n_zps89395aa5.jpg

http://i40.photobucket.com/albums/e225/teehee321/photo_zps344f8789.jpg