The Phaserl


Faced With Western Freeze-Out, BRICS Bank Is a Coup for Russia

from WakeUpFromYourSlumber:

Top of the agenda at the sixth summit of the BRICS developing nations beginning Tuesday is the founding of two multilateral financial institutions designed to erode the dominance of the World Bank and International Monetary Fund as arbiters of the global economic system.

For Russia, the creation of a $100 billion BRICS development bank and a reserve currency fund worth another $100 billion is a political coup. Just as the West freezes Russia out of its own economic system as punishment for its politics in Ukraine, Russia is tying itself into the financial superstructure of the next generation of economic heavyweights: India, Brazil, China and South Africa.

The World Bank and the IMF have come under criticism from the rapidly developing BRICS, who together account for 20 percent of global GDP and 40 percent of the world’s population. In their view, the two financial institutions are dominated by the rich nations of the G7 and attach stringent conditions to their lending that impinge on the economic sovereignty of its members.

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1 comment to Faced With Western Freeze-Out, BRICS Bank Is a Coup for Russia

  • Anon

    Yes, we Americans really DO need to awaken from our “collective” slumber: (the BRICS are doing us all a favor, believe it or not. The problem, is that if the rest of the world doesn’t want to “play along” with the “elites” behind the BIS, IMF, ECB, and the so-called “Federal” “Reserve” – “they” will still expect SOMEONE to continue to SUBSIDIZE them, as they produce NOTHING – no product or service – of any value – whatsoever to humanity (other than fiat paper, usury or interest, DEBT AND DEATH – “National debt”, Individual debt, war for resources, genocide, democide). “They” will still expect AMERICANS, now, more than ever – to “ante up” (with more and more taxes) – despite the fact, that they previously gutted the American economy, by shipping over 50% of our manufacturing base overseas. It’s the 545 in the District of Criminals who ENABLE the .01% to rob us all blind. We can kick them all out in 2014, by replacing them with people who will uphold the U.S. Constitution, and the Bill of Rights, and the Law. A Nation of Laws, and Not of Men.

    Obama is a COMMUNIST/MARXIST/SOCIALIST. Here’s the proof:

    Caravan To Midnight – Episode 95 Film Maker Joel Gilbert

    Tags: Bill Ayers, Saul Alinsky, Frank Marshall Davis, Barack Obama, Chicago Communists

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