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Nobel Economist Joseph Stiglitz Hails New BRICS Bank Challenging U S Dominated World Bank & IMF

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BRICS plan to trade in local currencies

BRICS plan to trade in local currencies | money money money | Scoop.it
India, Brazil, Russia, China and South Africa - five of the world's biggest emerging economies - could soon trade with each other mostly in their local currencies, under a plan their leaders will discuss next week that may hit the US dollar's...
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Nobel Economist Joseph Stiglitz Hails New BRICS Bank Challenging U.S.-Dominated World Bank & IMF

http://www.democracynow.org - A group of five countries have launched their own development bank to challenge the U.S.-dominated World Bank and ...
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BRICS and the Fiction of “De-Dollarization” - Brazil Business Today (subscription)

BRICS and the Fiction of “De-Dollarization” Brazil Business Today (subscription) The financial media as well as segments of the alternative media are pointing to a possible weakening of the US dollar as a global trading currency resulting from the...
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With Russian Official Said To Head New BRICS Bank, Will Dollars Get Dissed? - Forbes

With Russian Official Said To Head New BRICS Bank, Will Dollars Get Dissed? - Forbes | money money money | Scoop.it
Russian Finance Minister expected to head board of governors at New Development Bank owned by Brazil, Russia, India, China and South Africa.
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Russia and China: The Dawning of a New Monetary System? - Center for Research on Globalization

Russia and China: The Dawning of a New Monetary System? - Center for Research on Globalization | money money money | Scoop.it
The statement by Chinese Foreign Minister Wang Yi on 22 December 2014:  “If the Russian side needs it, we will provide necessary assistance within our capacity" – is a clear testimony that Russia a...
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De-Dollarization? ​'BRICS System' – Healthy Alternative to 'Defunct Dollar System' - Center for Research on Globalization

De-Dollarization? ​'BRICS System' – Healthy Alternative to 'Defunct Dollar System' - Center for Research on Globalization | money money money | Scoop.it
The BRICS Bank marks a major step to de-dollarization, and a new monetary system. It should replace the Western-dominated “predatory casino scheme” that has contributed to world wars and “economic ...
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De-Dollarization: Is BRICS a Viable Alternative to the US Dominated World ... - Center for Research on Globalization

De-Dollarization: Is BRICS a Viable Alternative to the US Dominated World ... - Center for Research on Globalization | money money money | Scoop.it
Economist and Geopolitical analyst Peter Koenig talks to Asad Ismi  1. Is BRICS (Brazil, Russia, China, India and South Africa) a viable alternative to the present U.S.-dominated world economic sys...
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BRICS Launches New Development Bank - Voice of America

BRICS Launches New Development Bank - Voice of America | money money money | Scoop.it


“Finally they got some alternative sources to get funding for infrastructure and they do not come with these conditionalities.

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Will BRICS Bank be a new World Bank? - Deccan Chronicle

Will BRICS Bank be a new World Bank? - Deccan Chronicle | money money money | Scoop.it


The New Development Bank could well evolve into an alternative financial power centre, depending on how well the Brics 5 play their cards.

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BRICS bank: 5 emerging economic powers to announce alternatives to IMF ... - Fox Business

WASHINGTON –  Fed up with U.S. dominance of the global financial system, five emerging market powers this week will launch their own versions of the World Bank and the International Monetary Fund.

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BRICS Countries Want to Use Local Currencies to Do Business Together - Folha.com

BRICS Countries Want to Use Local Currencies to Do Business Together - Folha.com | money money money | Scoop.it

The business communities of the BRICS countries - Brazil, Russia, India, China and South Africa - are considering the use of their local currencies to do business with each other, rather than converting first to another currency, such as the dollar, which generates losses.

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Alternative to dollar close to reality as BRICS coalition expands to 80 nations - Examiner.com

Alternative to dollar close to reality as BRICS coalition expands to 80 nations - Examiner.com | money money money | Scoop.it


For a new global currency to evolve and become viable, a nation needs two things to happen.

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BRICS Announce An Alternative To The IMF!

BRICS Announce An Alternative To The IMF! | money money money | Scoop.it

IMThe currencies and metals traded the day on Wednesday in the same clothes they wore in the overnight markets.

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Ten-step program could help India develop an economy as big as U.S. economy by 2050

Ten-step program could help India develop an economy as big as U.S. economy by 2050 | money money money | Scoop.it

NEW YORK – It’s fashionable to say the era of strong emerging-market growth is over. As the United States recovers, the global cost of capital will rise, holding back investment. Against this background, avoiding the next crisis is the best that most emerging economies can do.

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What will Happen to the Global Economy if BRICS Announce Launch of New ... - Center for Research on Globalization

What will Happen to the Global Economy if BRICS Announce Launch of New ... - Center for Research on Globalization | money money money | Scoop.it

In the next 24 hours the media runs amok. There was not much of a New Year’s celebration in the Western Hemisphere. People were afraid. They were speculating what may happen. Some planned a run on the banks to withdraw their money, though not knowing what to do with it in a system that may collapse. They couldn’t even convert their cash dollars and euros into Bricsos, as the Bricsowas to be only a virtual currency. Some planned to convert their bank accounts into BRICS currencies. They would be safe. Others continued to trust the dollar, the existing system, no matter how defunct it was. They figured Washington will again find a solution to save them.

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Curated by jean lievens
Economist, specialized in political economy and peer-to-peer dynamics; core member of the P2P Foundation