BRICS Plan To Become “Political Alliance” To Reform The International Financial System

–  BRICS Plan To Become “Political Alliance” To Reform The International Financial System (ZeroHedge, July 19, 2014):

As the world slowly turns against US Dollar hegemony, it appears the BRICS are pressing to fill any gaps. Having created the BRICS Bank “alternate to The West-controlled IMF or World Bank,”Xinhua reports that Russian Foreign Minister Sergei Lavrov believes the BRICS mechanism has been fully developed and can now transform into a political alliance to “reform the international financial system.”

BRICS-happy

As Xinhua reports,

The BRICS mechanism has been fully developed and can transform into a political alliance, Russian Foreign Minister Sergei Lavrov said Friday.

“BRICS grows and matures in all directions,” the diplomat told state-run Rossiya 24 TV channel.

Lavrov said the “qualitative” growth of the mechanism to a degree made it possible to transform into a political alliance, which is especially noticeable in its work within the Group of 20 (G-20) on global economic and financial affairs.

BRICS that groups Brazil, Russia, India, China and South Africa has many allies in the G-20, the minister noted, naming Argentina, Mexico and Indonesia in particular.

“They speak in the common voice with BRICS in the G-20 on the reform of international financial system,” the diplomat said.

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For those who have forgotten who the BRICS are, aside from a droll acronym by a former Goldman banker, here is a reminder of the countries that make up 3 billion in population.

The-BRICS

 

3 thoughts on “BRICS Plan To Become “Political Alliance” To Reform The International Financial System

  1. The move happened four years ago. Hugo Chavez introduced the first electronic currency, the Sucre, in Spring of 2010 for his tiny organization, the South American Trade Alliance. For the first time, member nations could trade with each other, using their own currency, leaving the dollar out. It was an amazing freedom, they loved it. The Sucre simply translated the value of each currency at the time of the transaction, making the entire process of a world reserve currency obsolete. It was small, less than half a billion a year, and it flew under the radar. The US didn’t notice it.
    Russia and China watched closely. Seeing its success, it adopted the same model in November of that year, establishing a trade agreement with each other, leaving the dollar out. They went on to recruit much of the world, including Turkey, Iran, many middle eastern nations sick of US bullying and dominance, many emerging African, South and Central American nations, including Mexico and Argentina. When the US put more sanctions on Iran two years ago, India and Japan joined with them. Obama gave Japan a “pass”, whatever that means.
    New Zealand and Australia dumped the dollar, over half the world now accepts the dollar. With the act of Putin, Brazil, China, India and South Africa, putting together a basket of currencies equaling $100 Billion to enable smaller nations to avoid the dollar……….by the end of this year, 75% of the world will no longer use the dollar.
    The “Basket of Currencies” has been effectively used for over four years now, and it makes a lot of sense. Technology has made it easy for all nations to trade using their own currencies, leaving the dollar out. The world reserve currency is obsolete, a 20th century idea.
    It leaves the US, who has been abusing its status with a non stop printing press in the dust. The US is already sitting on piles of paper money nobody wants. It has become the Sick Man of the Americas, and the only people who don’t seem to realize it, are the American leaders, and the fools who watch US media.
    This was bound to happen. When diplomacy is degraded to threats and sanctions, when money is printed regardless there is nothing behind it…….credibility and respect is lost. Once those two essential factors are destroyed, there is no going back.
    Technology has caused it to happen very quickly. The US is sinking like a stone, and instead of taking years, it is happening in months.
    This globalized toilet the greedy guts created is to blame, along with the crooks and criminals in power who tossed out our long won credibility for more money. Well, when they find their real estate holdings have no value, any more than their cash………..oh, well.

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