BRICS To Eye Joint Bank, Exchange Ties At Summit !
- What the BRICS nations are doing is a direct threat to the Anglo-American Illuminist global currency and financial hegemony. A simple analysis of modern history suggests war will happen. They are/were willing to goto war against Iran, Iraq, Libya … over their petrodollar hegemony. Why wouldn’t they goto war with the BRICS over a direct assault on their hegemony?
- The BRICS have the muscle to tell the Anglo-American Illuminist west to goto hell. China can drag most of Asia into the BRICS’ sphere of influence. Russia has the muscle to pull many of its Soviet republics in. Many South American nations like Venezuela will join too. The activation of American military’s Southcom (Southern Command ie. South America) after so many decades has gotten them worried. They know it is a matter of time before war comes to South America.
Brics to eye joint bank, exchange ties at summit!
by Frank Jack Daniel & Brian Winter, Reuters
New Delhi: The Brics group of emerging world powerhouses – Brazil, Russia, India, China and South Africa – is expected to launch plans this week for a joint development bank and measures to bring their stock exchanges closer together.
Officials say the initiatives will take time as they need to sort out details. But they herald a new level of ambition for a bloc that brings together about half the world’s people. The Middle East and energy security will also be discussed, officials say.
The most relevant announcement from this week’s meeting in India of the countries’ leaders is likely to be plans for a joint development bank in the mold of the World Bank.
The initiative would allow the countries to pool resources for infrastructure improvements, and could also be used in the longer term as a vehicle for lending during global financial crises such as the one in Europe, officials say.
Brazilian trade minister Fernando Pimentel told reporters in Brasilia last week that the countries would sign a deal at the summit to study the creation of the bank.
Sudhir Vyas, a senior Indian foreign ministry official, told reporters on Monday that the Brics would have to determine how the bank would be structured and capitalised. Such an ambitious project would take time, he said. “We don’t set up a bank every ordinary day,” he said.
The leaders are also expected to sign agreements allowing their individual development banks to extend credit to other members in local currency, a step towards replacing the dollar as the main unit of trade between them.
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