Precious Metals Forum

Go Back   Precious Metals Forum > Precious Metals and Economic News > Fiat Ponzi

Reply
 
LinkBack Thread Tools
Old 07-27-2014, 01:58 PM   #1
PM Bug Supporter
 
DoChenRollingBearing's Avatar
 
Join Date: Oct 2011
Location: SE USA
Posts: 1,275
Liked: 691 times
The BRICS Bank: A First Look

...

I have seen a lot of attention directed recently at this "BRICS Bank" just founded there in Brazil. What is it? What are they up to? Is it the death-bell for the dollar?

Ah, no. The BRICS Bank is really an agreement to found two institutions: the "New Development Bank" ("NDB") and the Contingent Reserve Arrangement ("CRA").

The NDB looks an awful like the World Bank...

The CRA looks an awful like the IMF... (Except the CRA NEVER mentions gold, which was considered important in the founding of the IMF, way back in 1944...)

See my take (and links to the original texts of the Agreements in Brazil as well as links to two other "digestible" articles (hey, international treaties are not easy reading) by The Washington Post and The Daily Bell:

"The BRICS Bank: A First Look"

http://goo.gl/R9NO40
DoChenRollingBearing is offline   Reply With Quote
Old 07-27-2014, 05:49 PM   #2
Yellow Jacket
 
ancona's Avatar
 
Join Date: Nov 2011
Location: Waaay south
Posts: 3,370
Liked: 2046 times
This is the end run brother DC. The end run will finalize the dollar demise, since others will see that dollars are not a requirement to do business and will copy this model. Once the dollar is gone, it's lights out for us.
__________________
All things being equal, the simplest answer is quite often the correct answer - Occam
ancona is offline   Reply With Quote
Old 07-28-2014, 02:49 AM   #3
Yellow Jacket
 
rblong2us's Avatar
 
Join Date: Nov 2011
Location: off world
Posts: 1,982
Liked: 877 times
Paul Roberts sees a different outcome -

http://www.paulcraigroberts.org/2014...craig-roberts/

Dollar wins but no one left to use it )-:
__________________
if it cant be done with a digger .... it cant be done
rblong2us is offline   Reply With Quote
Old 07-28-2014, 04:07 PM   #4
PM Bug Supporter
 
DoChenRollingBearing's Avatar
 
Join Date: Oct 2011
Location: SE USA
Posts: 1,275
Liked: 691 times
...

ancona and rblong2us!

Hey, my blog piece is JUST limited to the public documents put out by the five members (BRICS) re their two new organizations (misnamed the "BRICS Bank"), as well as two articles analyzing the treaties.

My guess (guess!) is that our US$ will fail not because of BRICS, but because of our internal rot.

P.C.R. more-or-less argues the same in his piece.

***

And yet, I wonder... How are these BRICS any better off than we are (re strength of their economies and their own internal problems)? Russia and China have grave demographic and environmental problems. Russia and China will eventually become hostile to each other... INDIA will (likely) have issues with China too.

I am not saying that we will be all OK!!! I just think that the Free Stuff Army and all of the "Undocumented Democrat Voters" (illegals along our southern border) will more probably be our downfall than the BRICS.
DoChenRollingBearing is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Competition for the World Bank, BRICS discuss common development bank swissaustrian Fiat Ponzi 12 07-22-2014 08:34 AM
Bank runs, bank holiday & 10pct bailout tax on deposits in Cyprus swissaustrian Fiat Ponzi 165 04-30-2013 11:31 AM
Be your own central bank Unobtanium PM Bug 0 02-24-2013 12:06 PM
Reserve Bank of India forbids bank loans for gold purchases PMBug Gold Bug 0 11-20-2012 07:57 AM
China takes over a US bank - acquires retail bank branches in NY & CA PMBug Fiat Ponzi 1 05-10-2012 09:08 AM


All times are GMT -5. The time now is 04:44 PM.


Powered by vBulletin® from Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0 PL2 ©2011, Crawlability, Inc.
Content of PMBug.com copyright © 2011 - 2019 Measuring Up. All Rights Reserved.