Meet The BRICS New Development BANK

Last week we attempted to dispel some of the confusion surrounding the World Bank and the IMF, how the two are differentiated, and what the World Bank actually does. (see: So What Does The World Bank Do Exactly?)As you’ll recall, Bretton Woods architect John Maynard Keynes admitted that the confusion over these two bodies was embedded in their names; the World Bank should rightly be referred to as a fund (for development projects) and the International Monetary Fund as a bank (to help countries cover balance of payment deficits and ensure financial stability). The World Bank itself is a body that ostensibly provides long-term low interest or no interest loans secured on the global bond market to fund sectoral reforms and infrastructure development projects in some of the poorest countries in the world.As we saw last week, however, the Bank is used as a weapon by the economic hitmen identified by John Perkins and others, directing infrastructure development funds to crony corporations and forcing countries into debt obligations that they will be unable to meet. These impossible debt obligations are then used to give the Bank leverage over the developing world economically and geopolitically.What’s more, both the IMF and the World Bank have historically been controlled by the US and Europe, and clamors for reform in governance from the developing countries have fallen on deaf ears.It is in the context of this IMF/World Bank stranglehold over the global financial architecture that we have to understand the stunning development that took place at the 6th BRICS (Brazil, Russia, India, China, South Africa) Summit in Fortaleza, Brazil last month: the creation of a New Development Bank (NDB) to compete with the World Bank in providing funds for infrastructure development to developing nations and the creation of a Contingency Reserve Arrangement (CRA) to compete with the IMF in providing liquidity protection to countries with balance of payment difficulties.The development was by no means surprising: the idea for a BRICS development bank has been bandied about for years now and was written about in the pages of this newsletter extensively last year. Nor does it represent (at least at this point) a fundamental challenge to the World Bank or IMF’s dominance; neither the NDB’s $50 billion USD in subscribed capital nor the CRA’s $100 billion liquidity pool come close to the World Bank’s $232.8 billion in subscribed capital or the IMF’s $755 billion in liquidity ($1.4 trillion if you include emergency funds). Neither do they have the infrastructure yet in place to coordinate and deploy these funds, nor a track record of working with the world’s poorest countries to ensure that funds reach their intended targets and not the Swiss bank accounts of corrupt politicians and middlemen.Still, there is something of a revolutionary feel to the obligatory pictures of the smiling BRICS leaders coming out of this year’s summit. This year the smiles do not seem quite as forced. Perhaps they even seem a little self-assured. It may be a baby step, but after all it is a step toward a world where the poorest countries do not have to turn cap in hand to the IMF or World Bank for financial aid.Meet the BRICS ''New Development Bank'' - BRICS leaders 2014But what are the implications of this for the developing countries themselves and the prospect of genuine development? What does this development say about the BRICS and their growing ambition on the world geopolitical stage? And where does this fit into the age-old banker quest for global government? To answer these questions, we must first examine the institutions in questionRead More @http://wakeup-world.com/2015/02/01/meet-the-brics-new-development-bank/

"The tide is turning Drexk-and Isreal just bombed Iran to escalate WW3 that will make everything else yeaterday's news (hope not)-explosions in Syria and Iraq too
Iran is the biggest sponsor of organized terror strikes, but Biden released $6 billion…"

Antarctic pyramids and structures.No preamble today.We may be getting a clearer picture of what the “we’re going down this weekend” might involve. And it’s only Thursday. Urgent Alert: Space Force Flexed on Deep State Showing they can/will Shut…

| SourceThe corporate theater of the absurd that passes off as news in the West reached a new low with the so-called Iranian attack on Israel that was “99% stopped” by Israel. The Israeli cabinet then issued a photograph and video with bottles of…

Replies

Malcolm February 2, 2015 at 2:36pm

Thanks for the info Krishna.
Drekx Omega February 1, 2015 at 9:32pm

Krish, my dear chap, it's BRICS, rather than "BRICKS," as in, to lob one....a brick I mean....Hehe...!! But you never know, when Germany eventually joins the club too and they rename it; "BRICGS," now that will be scarey for the London-Washington power matrix... LOL

This reply was deleted.

Spiritual Forum

Meet The BRICS New Development BANK

Replies

Featured Discussions

The MERKABAH Ships of the Ashtar Command by Cmdr Lady Athena

Sananda, One Who Serves and Shoshanna - THE GREAT AWAKENING IS NOW COMING TO A CONCLUSION via James McConnell

Ashtar, One Who Serves and Shoshanna - YOU ARE CREATING YOUR NEW REALITY via James McConnell

Music Is Frequency Programming ..Do You Understand ..Music Is Frequency Programming..YOU HAVE BEEN FREQUENCY PROGRAMMED

Note: this page contains paid content.

Latest Activity

New Blog Posts

High Strangeness the Order of the Day [videos] Shit’s About to Get Real ! Episode 1 : Starship Earth; The Big Picture

Benjamin Fulford Report: Iran Attacks Israel, Brought to You by Coca Cola, Vanguard and BlackRock; By Benjamin Fulford.

BASIC URANIAN ASTROLOGY LESSON (knowledge of Uranian Astrology planets and use of 90 Degree Dial required) - analysis of the recent drone attack on Israel on April 14, 2024.

Amplifying Mother Plasma Intelligence for the Upcoming Energy Shift; By Sandra Walter.

Note: this page contains paid content.