While the Atlantic nations and their allies are covertly negotiating on how to strengthen the Corporatocracy by passing secretive trade agreements that even the puppet lawmakers haven’t read yet or don’t really care to know what’s in them, the BRICS countries have been busy organizing multiple banks with committed funding of $100 billion each, to cater the needs of underdeveloped nations without the usual strings attached.
The BRICS Bank which will act as a substitute to the World Bank, the BRICS Currency Reserve Arrangement [CRA] acting as a replacement to the IMF, both complemented by the China-led Asian Infrastructure Investment Bank [AIIB] to which some European countries joined in, contrary to the wishes of the Obama administration, but still within the wishes of the Anglo-Roman Empire, are out to provide massive development and reconstruction funds to carry the world into the 21st Century as conceptualized and designed by Nikola Tesla.
When Chinese President Xi Jinping demands the population of his country to be more creative in terms of their economic and industrial pursuits, it was to motivate them to go beyond the conventions of our time.
Already, the Chinese manufacturers are producing HHO fuel savers which can be easily adapted to any gasoline engines converted to run with natural gas or LPG. This is what we can do now.
There’s a better world just waiting in the wings; the Eurozone circus is just a distraction created by those behind the covert TISA–TPP-TIPP trade negotiations for the purpose of empowering supranational corporations, all for the glory of the once mighty Anglo-Roman Empire.
$100bn BRICS monetary fund to be operational in 30 days
The $100 billion BRICS Contingency Fund, that leaders from Brazil, Russia, India, China and South Africa had approved last year to combat currency crises, will be operational in 30 days, the Brazilian Foreign Ministry said on Tuesday.
Lawmakers from all five countries have now ratified their participation in the agreement.
China will provide the bulk of the funding with $41 billion, Brazil, Russia and India with $18 billion each, and South Africa with $5 billion.
“The agreement aims to provide temporary resources to BRICS members facing pressure in their balance of payments. This instrument will contribute to promoting international financial stability, as it will complement the current global network of financial protection,” the Brazilian Foreign Ministry said in a statement.
“It will also reinforce the world’s economic and financial agents’ trust and mitigate the risk of contagion from eventual shocks which may come to affect the economies of the bloc,” it said.
Last year, during its sixth summit in Brazil, BRICS announced the creation of the BRICS Development Bank and of the BRICS Contingency Reserve Arrangement (CRA).
“The establishment of a self-managed contingent reserve arrangement would have a positive precautionary effect, help BRICS countries forestall short-term liquidity pressures, provide mutual support and further strengthen financial stability,” South African President Jacob Zuma said earlier.
The CRA is meant to provide an alternative to International Monetary Fund’s emergency lending. In the CRA, emergency loans of up to 30 per cent of a member nation’s contribution will be decided by a simple majority. Bigger loans will require the consent of all CRA members.
Meanwhile, the $100 billion development bank, funded by BRICS countries, will offer loans to other middle- and low-income countries.
Membership of the BRICS Bank will be open to all members of the United Nations, subject to agreement from the bank’s board of governors, China’s Vice Finance Minister Shi Yaobin said last month.
“The establishment of the BRICS bank is a landmark event in financial cooperation, which will promote the BRICS countries and other emerging markets, and infrastructure construction and sustainable development in developing countries,” said Yaobin.
“The promotion of reform in global economic governance has important and far-reaching significance,” he added.
As the BRICS countries prepare to launch new financial institutions like the $100 billion BRICS Bank, the China-led Asia Infrastructure Investment Bank, and a $100 billion BRICS currency reserve fund, the IMF has once again delayed voting reforms to give emerging countries greater say.
A statement from the International Monetary Fund last month said the board has postponed the discussion on how to move forward without Washington.
BRICS leaders Vladimir Putin, Xi Jinping, Jacob Zuma, Narendra Modi and Dilma Rousseff are meeting next week in the Russian city of Ufa for the 7th BRICS Summit.
BRICS Market Ensures Economic Independence From West – India Delegate
16:20 02.07.2015(updated 16:49 02.07.2015) Get short URL
MOSCOW (Sputnik), Yulia Shamporova
A common market between BRICS member states would ensure the countries’ economic independence from the West, a member of the Indian delegation at the BRICS Civic Forum in Moscow told Sputnik on Thursday.
“If you could create and develop BRICS markets and BRICS trade, you don’t need to depend on Western markets and Western trade. That would make us independent of some unilateral interventions on trade and economics by Western countries,” Samir Saran, vice president of the Observer Research Foundation, said.
He added that one of the reasons why Russia was able to cope with the sanctions imposed on it by Western countries was its enhanced cooperation with China.
“If BRICS could develop institutions that are not controlled by the West that could make sure that in the future financial institutions are not used for political and geopolitical purposes,” Saran stressed.
BRICS is a bloc of emerging economies comprising Brazil, Russia, India, China and South Africa.
In 2014, BRICS countries signed an agreement to establish the New Development Bank, which is expected to become an alternative to Western-dominated financial institutions and will focus primarily on funding infrastructure projects.
On Wednesday, the establishment of the NDB was ratified by the Chinese parliament after Russian and Indian lawmakers endorsed the organization in April.
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