BRICS Nations Talk Tough to West, Start Rival Development Bank

BRICS Nations Talk Tough to West, Start Rival Development Bank

www.ibtimes.com

The leaders of Brazil, Russia, India, China and South Africa, meeting in New Delhi on Thursday, drafted a joint statement lambasting the West's "aggressive monetary policies" and dominance of global institutions.

Collectively known as the BRICS, the heads of the world's five largest emerging economies also took steps at the fourth annual summit toward greater unity and launched a proposal to create a financial institution that could eventually rival the World Bank.

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Related AboveTopSecret.com Discussion Threads:
March 27 - New Financial System Announcement

The BRICS are starting their own development bank, that could rival the World Bank?

Didn't Benjamin Fulford say something like that a few days ago?

Is it what he was talking about?

And what this new bank means? A step beyond in the consolidation of the BRICS as a power block?

Will this "power block" neutralize the global influence of the USA and UK?

How the "Western powers" are going to react?


www.ibtimes.com
(visit the link for the full news article)

They may need more mortar to create more "power bric(k)s" to create a finical stability to rival the west. I hope they do, but honestly these countries have been culturally embedded on earth far longer than America. It is like a child telling a adult what to do.

Another related news from today's summit:

www.mydigitalfc.com...

Brics to use own currencies in trade

India and the other four Brics countries — Brazil, Russia, China and South Africa — on Thursday decided to work towards using local currency in trade.

This is expected to reduce the dependence on the dollar, cut transaction cost and double trade to $500 billion among them by 2015.

At the fourth Brics summit here, the five exim banks of the member-countries signed two agreements for this purpose. One is a master agreement on extending credit facility in local currency. And the other is a Brics multilateral letter of credit confirmation facility agreement.

reply to post by GLontra


SnF.... good info and another piece to a large puzzle.

But I am a little confused.

You come off in other threads as bashing on Fulford and Wilcox and their dialog....

I mean sure....everyone says some crazy stuff but what they are saying is logical ...and we can already verify all of the bankers resigning.

Originally posted by dplum517
reply to post by GLontra

 

SnF.... good info and another piece to a large puzzle.

But I am a little confused.

You come off in other threads as bashing on Fulford and Wilcox and their dialog....

I mean sure....everyone says some crazy stuff but what they are saying is logical ...and we can already verify all of the bankers resigning.

Don't be confused: this is how I am.

I was really bashing Fulford after the video he released late Tuesday. The video looked ridiculous to me.

But now, after seeing this news, I immediately associated it to Fulford's claims, and I thought: "What a f*ck, Fulford was telling the truth in the end???"

I'm probably more confused than you.

reply to post by GLontra


Yeah .....I think the reason we're all confused is because 99% of what's happening is not being displayed in a public forum....like MSM headline news.

Right now it's just quietly taking place and we can see a single web page from a news source about someone.

This person has made a nice blog and gives google links to news outlets for every baker resignation.

Banker Resignation Links

And in Wilcox's latest article he provides some good links about all the corruption cases and phone hacking scandals with the Murdoch's and all that good stuff.


And ya....Fulford comes off as an overweight weirdo with some sort of speech impediment....but somehow he's interviewed people like Rockefeller in his hotel room .... and he's somehow a spokesmen for the Japanese secret society .... and on top of that he's fluent in Japanese ...so he definitely has the background and intelligence to say this stuff.

The day when they can cure endemic corruption of the highest order and provide honest genuine economic policy that allows wealth to be shared by all with equal opportunities and rule of rule, will be the day the BRIC dollar or any investment vehicle would be trusted.

Certainly not today.

Any investment they get are nothing more than PONZI schemes to dupe other investors such as Lehman brothers did.

Current investors of today are not fools, not with BRIC hype attempts, BS promises of a 'supposed' future, and propaganda.

Where can I find this Benjamin Fulford information regarding this topic?

I am going to display my handicap, known as "insufferable cynicism" in regards to this development.

Question: Will such a proposed institution serve to compete and ultimately balance the global economic manipulation the "Western" financial cartel asserts over planetary commerce?

Answer: This is only how it is being marketed to the peoples of the relevant nation's who will be engendering yet ANOTHER debt paradigm to replace the one where their leaders are excluded from the teat of wealth the actual "people" create.

I know that in essence the idea of confronting the supranational financial authority is ultimately correct. But I will not allow myself to pretend that it is in any way for "the common good" as long as 'fractional reserve lending' and 'transnational authority to manipulate monetary policy' is part of the equation.

Most every solution offered to cope with the beast which seems to have its tentacles virtually everywhere seems to be offered up by the same people who simply want to replace the beast with their own interests... assuring the same wealth siphoning phenomenon will prevail.

Debt is not wealth. In my obvious ignorance of the religions of economics I defy the norm and state that I believe people and nations do not NEED credit..... they need wealth. Credit is the scam. And it is why gambling prevails as the number one generator of "loss of wealth" in the world today.

Swaps, derivatives, vacuous theories about "confidence" and efforts to separate monetary policy from fiscal policy are the key issues to be addressed to eliminate this nonsense propagated by the establishment technocrats and oligarchs that 'debt' has value. The financial systems of speculation and risk-taking finds its basis in the reality that the richest and most powerful are not those who produce something of value, but instead it is those who convince us that THEY must be paid tribute to allow commerce to occur.

Try to start your own banking system... you'll see what I mean. Watch these "tough talking" BRICS nations make this effort.. and see what transpires... I can almost guarantee that the leaders of the world will intervene in nearly any way they can.

It's not about progress as a goal for them... it's about the status quo they rely upon to keep themselves in positions to claim a portion of all profit (anyone's profit) - especially where they only incur a 'virtual' risk.

Sometimes I think the leadership caste on our planet (and yes there is one) suffer from the mental affectation of the "strigoi" who it seems were offended by anyone who prospers... as they hold that only they are worthy of prosperity.

Originally posted by GLontra


Will this "power block" neutralize the global influence of the USA and UK?

How the "Western powers" are going to react?


www.ibtimes.com
(visit the link for the full news article)

It depends on what way of life they choose and how efficient they are in implementing their choice. West develops lots of technologies, innovations etc. for two reasons a) it gives freedom and encouragement to its people b) best of the brains from all over the world strive to come to the west and utilize their skills without being hampered by 'assymetrical' diversions of non-western world living.

If BRICS cannot control problems like corruption, pollution etc. in their economies then I doubt they will be able to match west in anything. They might be able to pose a serious challenge but that's all.

reply to post by Maxmars


couldn't agree with you more. i think what we have here is an attempt to circumvent the dollar and trade among these nations without it, could be the beginning of the end to the dollar as the reserve currency. these country's probably have one intention and that's to make money, not help the people, but i think it will push forth the beginnings of world change through global economic collapse and not the kind planned on either.

reply to post by Maxmars


I tend to agree with you...

Perhaps actions like these are taking place because they see the opponent is in a weakened state and want to take over.

Either way.... at this point I'd be happy to see any change...

It seems like the timing of all this is not a coincidence and something big is happening in the elitist world ..... It's just not transparent, which leaves us in the dark.

Wow, it is literally about to go down...this is pretty exciting...

The BRICS nations neglect the small fact that without the West, their economies would be dead in the water. We buy the crap they make, and we have every bit the capability to make it ourselves.

It's the fact that Western governments put up with this junk that shows you they could care less about the health of their nations and care more about them and their buddies making a quick buck.

reply to post by AnIntellectualRedneck

It's the fact that Western governments put up with this junk that shows you they could care less about the health of their nations and care more about them and their buddies making a quick buck.

Western governments don't put up with this "junk", they've invaded several nations who have attempted to remove themselves from the dollar. These nations have every right to start their own rival financial institutions and distance themselves from the dollar. Hell, with the way the dollar is going they'd be retarded not to distance themselves. And these countries are always being harassed and screwed over by western countries, I can't blame them for wanting to work amongst themselves and stop relying on western countries when all we do is constantly give them the short end of the stick. Just because these recent actions aren't necessarily good for our western countries doesn't mean we need to get all pissy about it. It's a free world, they can create competition against our institutions if they really want to. Hell, competition is the name of the game, enforcing monopolies and rigging the entire system is plain wrong, and it's the reason we have some countries still living in excessive poverty. Leave them alone and let them play the game fairly.

Being a Canadian I found great interest in Ben Fulford and his family here.He may sound a little out there sometimes but yet the truth is stranger than fiction. His background is legit and I would imagine that if the average person were to know the things he does, they would probably come across as way out there trying to explain it to the rest of us. I have no doubt that this is indeed related to his earlier reference of a global financial challenge to the cabalists. These countries are just starting to flex their economic strength and have got the numbers to back them militarily.

reply to post by Skittle


I found this interview last night and listened to it. It's about 2 hours long though. At the end they call the attorney who filed the lawsuit which supposedly began some of this. He confirms the lawsuit over the phone. You won't believe the history lesson Fulford gives... unbelievable!!!

David Wilcock's interview with Benjamin Fulford

It starts out rough, but gets better after a few minutes. It's an audio file.

Well it does look like a few options are being discussed at the big end of town. The G20 is thinking about institutionalizing its power over the IMF and world banks, then BRICS proposes world bank competition as one way to go. Behind the scenes there is an issue with macroeconomic resources as it is a complex field. Having an alternative that troubled nations can turn to will help in finding a more balanced set of lending conditions. With the risks that monopolies do contain there is some wisdom in this proposal.

Here in Australia we have a banking policy of the big 4. It fosters competition and in case one should fall over it will not take out the economy. Two big banks is still better than one for the international market. With how this could affect the USD, so far I like the idea of two separate domestic and international USD currencies. This way America can help isolate some fallout as the petrodollar wanes from demand and protect its own national markets. Either way it is going to be messy and still open to other ideas.

I think the day when the US dollar will lose the status of international reserve currency is approaching fast.

The consequences could be harsh for the American economy... Just imagine what happens if nobody accepts the dollar on international trade anymore, and demands payment in other currencies, like the euro or the Chinese yuan...