BRICS Demand Global Monetary Shake-Up, Greater Influence!

Chinese President Hu Jintao (3rd L back), Brazilian President Dilma Rousseff (4th L back), Russian President Dmitry Medvedev (2nd L back), Indian Prime Minister Manmohan Singh (1st L back) and South African President Jacob Zuma (5th L back) attend the signing ceremony of the Sanya Declaration in Sanya, south Chinas Hainan Province, April 14, 2011. (Xinhua/Li Xueren)

• It is becoming painfully obvious that the USD is heading towards toilet paper status. The BRICS nations do not want a calamitous collapse, at least not until they have gotten rid of their toilet paper USD! So, everyone is playing for a gradual depreciation of the USD. However, market forces, herd dynamics may not allow it. I see the USD eventually going into a cliff dive in 2012. The snakes will hold back on this scenario as long as possible to lull the sheeple into sleep!
   
  BRICS demand global monetary shake-up, greater influence
  by Abhijit Neogy and Alexei Anishchuk
  SANYA, China (Reuters) – The BRICS group of emerging-market powers kept up the pressure on Thursday for a revamped global monetary system that relies less on the dollar and for a louder voice in international financial institutions.
   
  The leaders of Brazil, Russia, India, China and South Africa also called for stronger regulation of commodity derivatives to dampen excessive volatility in food and energy prices, which they said posed new risks for the recovery of the world economy. Meeting on the southern Chinese island of Hainan, they said the recent financial crisis had exposed the inadequacies of the current monetary order, which has the dollar as its linchpin.
   
  What was needed, they said in a statement, was “a broad-based international reserve currency system providing stability and certainty” — thinly veiled criticism of what the BRICS see as Washington’s neglect of its global monetary responsibilities.
   
  The BRICS are worried that America’s large trade and budget deficits will eventually debase the dollar. They also begrudge the financial and political privileges that come with being the leading reserve currency.  “The world economy is undergoing profound and complex changes,” Chinese President Hu Jintao said. “The era demands that the BRICS countries strengthen dialogue and cooperation.”
   
  In another dig at the dollar, the development banks of the five BRICS nations agreed to establish mutual credit lines denominated in their local currencies, not the U.S. currency.
   
  BRICS new monetary order
  by International Business Times
  The five BRICS nations continue to call for broad-based international reserve currency system instead of the U.S. dollar, aiming to provide “Stability and Certainty” where the nations said that the financial crisis revealed inadequacies and deficiencies of the current monetary system of the world.
   
  The five BRICS includes; Brazil, Russia, India, China and South Africa. “The era demands that the BRICS countries strengthen dialogue and cooperation,” Chinese president said. BRICS agreed to establish mutual credit lines denominated in their domestic currencies, rather than the U.S. dollar. 
   
  “The developments in west Asia and north Africa, and the aftermath of the huge tragedy that befell Japan, have introduced fresh uncertainties in the global recovery process,” Indian Prime Minister Manmohan Singh said. Meanwhile, the Russian President Dmitry Medvedev said that “Our economic potential, political influence and our development prospects as an alliance are exceptional”.

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Goldman Sachs Misled Congress After Duping Clients Over CDOs, Levin Says!

Trust me!

• Goldman Sucks/Snake CEO Lord Blankfein Vader: ‘Trust me! I just appear EVIL on the outside!’. 10 minutes later, hysterical laughter was heard from the toilet where Darth Blankfein was peeing!
   
  Goldman Sachs Misled Congress After Duping Clients Over CDOs, Levin Says
  by Robert Schmidt, Clea Benson and Phil Mattingly, Bloomberg News
  Goldman Sachs Group Inc. (GS) misled clients and Congress about the firm’s bets on securities tied to the housing market, the chairman of the U.S. Senate panel that investigated the causes of the financial crisis said.
   
  Senator Carl Levin, releasing the findings of a two-year inquiry yesterday, said he wants the Justice Department and the Securities and Exchange Commission to examine whether Goldman Sachs violated the law by misleading clients who bought the complex securities known as collateralized debt obligations without knowing the firm would benefit if they fell in value.
   
  The Michigan Democrat also said federal prosecutors should review whether to bring perjury charges against Goldman Sachs Chief Executive Officer Lloyd Blankfein and other current and former employees who testified in Congress last year. Levin said they denied under oath that Goldman Sachs took a financial position against the mortgage market solely for its own profit, statements the senator said were untrue.
   
  “In my judgment, Goldman clearly misled their clients and they misled the Congress,” Levin said at a press briefing yesterday where he and Senator Tom Coburn, an Oklahoma Republican, discussed the 640-page report from the Permanent Subcommittee on Investigations.
   
  … to continue reading click here!

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The Silver Liberation Army: The Cavalry Has Arrived !

Busted: TSA Lied About Promise Not To Grope Children!

Mark Weisbrot: The Coming New World Currency!

• There is nothing essentially wrong with a One World Currency based on economics. It is the unstated Luciferian agenda that I am against. The Illuminists want a Luciferian World Government with a Global Supra-National Central Bank, a New Monetary,Economic and Financial Order. This is to implement their Global Fascist Satanic Military-Police State –> ’666′ . It implies the destruction of national sovereignties, countries, martial law….etc. These are the reasons why I am opposed to this One World Currency. The snakes are selling it as an innocuous solution for the current economic collapse they have engineered. It is anything but innocuous! Do not be deceived !

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Cut This! Cut That! We’re Spending 8 Billion Dollars A Month On A War That Can’t Be Won!

TSA Gropes 8-Year Old Boy As Possible Terrorist, Mother Outraged !

Fukushima Accident Severity Level Raised to 7: Lack of US Radiation Monitoring Data!