So who will be running the “fresh, new” BRICS Bank? Guys who hang out at Davos, who help run the “tainted, old” IMF and World Bank, and who are trained by the London Establishment and the Vatican Jesuits.
This is why the original BRICS economies have exploded in just the past 12 months to now include up to 80 other nations ready to join their coalition, and provide that critical mass that will slingshot the Chinese Yuan into viability, and create an alternative to the dollar that the West isn't prepared to compete with.
Several economists have stated that 2014 is a critical year for both the dollar and the global monetary system, and that a currency reset is inevitable to expunge the over one quadrillian dollars worth of toxic assets and derivatives which are unsustainable, and that are leading the world towards a collapse far worse than the one in 2008.
As the majority of the world and other sites and analyst’s are calling for an overthrow of the western banking system by the BRICS countries, this site is proposing that the western and emerging eastern systems are both controlled by the same unified banking interests, as represented by The Bank for International Settlements.
The propagated divisions are only illusionary and small figments of a larger centralization process where a multilateral financial system will be implemented.
Much more important, however, is the BRICS decision to set up a new development bank for long-term infrastructure. This is intended to rival, indeed, outclass, the Western-backed institutions. The underlying rationale is simple: the BRICS are determined to challenge Western political and economic dominance and, in particular, to break the dominance of the International Monetary Fund and the World Bank, which have not served the development needs of poor countries and have generally served only to put them into ever-increasing, un-repayable debt.
Perhaps the most significant outcome of the BRICS summit is the proposed creation of an optic fibre cable linking all five states (with relatively easy extensions to Iran and Indonesia). Indeed, it could be that the BRICS are constructing an independent global optic fibre internet system or at least an extensive one over which they will have complete control. The BRICS are intensely aware that the USA, denying the evidence of its own sixteen intelligence agencies, is pursuing a Zionist agenda against Iran which includes excluding Iran from the SWIFT international banking system and other banking transactions. The new cable should put an end to that.
In the January – March timeframe this year, they set up a large number of triggers that could have enabled a big pass play, but they audibled back to their ground game.
For the September – November time frame, a whole new set of triggers is being put in place. These triggers will enable them to stage an economic/war shock event if they so choose, but will most likely lead to a disarming of the US’s veto power in the IMF and a changing of the guard in that and related organizations.
"We are discussing with China and our BRICS parters the establishment of a system of multilateral swaps that will allow to transfer resources to one or another country, if needed. A part of the currency reserves can be directed to [the new system]."
"I think the work on ruble-yuan swap line will finalized in the nearest future and the way for ruble-yuan settlement will be open. Moreover, we are not the only ones with such initiatives. We know about the statements made by Mr. Noyer, chairman of the Bank of France. As a retaliation for what Americans have done to BNP Paribas, he opined that the trade with China must be done in yuan or euro."
Very soon, the IMF will cease to be the world's only organization capable of rendering international financial assistance. The BRICS countries are setting up alternative institutions, including a currency reserve pool and a development bank.
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