Russia is creating a $100 billion rival to the IMF

originally posted by: junglimogli

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?

What they will do is not murder anyone who challenges them .. like the US clearly does when the dollar is challenged ..
Trading should never be limited to one monopolistic currency .. it's high time people realized that and did something about it ..
Eastern culture is to help one another in the group ..and find balance .. not like the West, where greed and savagery seems to be the order of the day, to stay on top ..

Please answer the question. This thread is not about what the United States or the IMF may or may not have done; it's about what this BRIC bank intends to do.

Money is fake. War is real.

originally posted by: paraphi
Are there really any central banks that are private? For example, the Bank of England was nationalised in 1946 and is therefore publicly owned. Although the arrangements for the US Federal Reserve are different, that organisation is not private.

Incidentally, the two biggest banks in the world are Chinese and the Chinese Central Bank is so closely linked with the political one-party-state that displays more similarity to a private organisation than comparable organisations in the West.

Ho hum.

Are you aware that you are posting propaganda that isn't true

Any nation that buys its own bonds at interest payable to that nation's central bank

Doesn't have Nationalized central bank.

Ever wonder how Russia and China have surpluses while western countries like US and UK only deal with debt.

In my personal opinion I don't think you care about facts.

a reply to: paraphi

There is little glue that naturally binds them together and not much shared vision, unlike the developed and democratic West.

Shared vision of the West? Seriously? You're denying ignorance on ATS? Australia under some wild interpretation of the ANZUS treaty is in Afghanistan with the US, coaltion of the willing - propaganda.

People are asleep as to Afghanistan being a pipeline of drugs into the West, shipped out in body bags in US Miltary air transport. The US politicians learnt their tricks from the Noriega days. Drugs is big black business. Follow the money.

As to the Brics having a shared vision - how about they dont want to be bombed back to the stone age or keep being paid in worthless US dollars by USA.

a reply to: TorinoFer

Are there really any central banks that are private? For example, the Bank of England was nationalised in 1946 and is therefore publicly owned

Wow, seriously. The Rosthchilds install Central Banking to their taste, in Libya and Iraq and somehow forgot England?