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Russian President Vladimir Putin ratified an accord Saturday to set up a $100 billion reserve fund for the so-called BRICS — the leading emerging economies Russia, China, Brazil, India, and South Africa.
Moscow is expected to contribute $18 billion to the reserve, well behind the $41 billion China has promised to pour into the fund, which was set up after an agreement signed in July in Brazil.
The emerging economies also plan to form their own international bank based in Shanghai to challenge western dominance over international money markets.
Libya was going to create or help create a African bank that would have fit into the mix until R2P Nato scum decided to blow the crap out of the country . Those numbers you are using can be expected to grow quite rapidly one would think .Moving away from one system and putting your eggs in another will have a tendency to tip the basket . I am thinking as the BRICS become closer and closer to realization you will see the military apparatus within the group show some of their muscle ,militarily .
The BRICS countries between them account for 40%
of the world's population and a fifth of the planet's
gross domestic product.
originally posted by: Greathouse
a reply to: wasaka
If you don't think the same banks that are behind the IMF and control of the rest of the world banking systems. Are not also behind bric's you must be from out of town.
Money is money the same people are always controlling it.
originally posted by: TorinoFer
Clear and cut difference between western private central bankers
originally posted by: DJW001
a reply to: wasaka
So the developing nations are going to pool their money and loan it to... whom? Each other? Nations that are not developing? What's the plan here, and what do they plan to do if, say, Venezuela defaults on their loan? Seize their material assets, ie; oil fields?
originally posted by: tsurfer2000h
a reply to: junglimogli
What they will do is not murder anyone who challenges them .. like the US clearly does when the dollar is challenged ..
SO who exactly was murdered for challenging the dollar?
If you're asking this obvious question ..then you clearly don't know much about what happens around you ..
Russia, Iran Openly Challenging the "Dollar Dictatorship"