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quincy
16-07-2014, 14:41
Escobar: BRICS bank on its way to beat casino financial system - YouTube

Benedikt
16-07-2014, 14:45
Escobar: BRICS bank on its way to beat casino financial system - YouTube (http://www.youtube.com/watch?v=FVSGGcyXQDA)



because combined these will be the future movers and shakers.

fenrir
16-07-2014, 17:07
The BRICS have little in common with each other so I don't see this going very far. However, if they want to give loans to countries that will probably never pay them back, then more power to them. Let's see how much they like getting stiffed. Putin was just in Argentina. Let him bail out that corrupt excuse of a government. It needs a new sugar daddy.

Judge
16-07-2014, 17:51
The BRICS have little in common with each other so I don't see this going very far.

They have more in comman than you think, the main thing is they want to take on the western powers.Who knows, this could be the start of a 'New World Order',still early days, but the bank is being set up,let's see what comes next...



However, if they want to give loans to countries that will probably never pay them back, then more power to them. Let's see how much they like getting stiffed.
They could take something besides the money, like an opportunity to buy something worth while in the country they loan to.....
Would be interesting if the BRICS bank loans money to a EU country...





Putin was just in Argentina. Let him bail out that corrupt excuse of a government. It needs a new sugar daddy.

Russia will build a couple of nuclear power stations for Argentina,an easy invesment for Russia into a country that needs help...
Is Argentina in America's bad book?

fenrir
16-07-2014, 22:36
Is Argentina in America's bad book?

Argentina is pissed at America because it has just lost a huge case in American courts that will likely lead Argentina to default on their international debt.

Russian Lad
17-07-2014, 14:18
because combined these will be the future movers and shakers.

Hahaha. Ben, it is so delusional I don't know where to start. An article in Russian pretty much summing it up, I have google-translated it, see the main conclusion in red below:
http://www.banki.ru/news/columnists/?id=6907538

Acronym BRIC (BRIC) came up in November 2001, Goldman Sachs analyst Jim O'Neill. In 2011, this letter in the acronym S - South Africa (South Africa), and the group became known as the BRICS (BRIC). BRICS countries (Brazil, Russia, India, China and South Africa) are united only by the fact that they are the largest developing economies. Other serious unifying factors they do not - no geographic, economic or political. For example, for any of these countries, the remaining partners in the BRICS are not the main partners in foreign trade. Even China is not among the main trade partners of Russia, not to mention Brazil and especially South Africa, with which the foreign trade of just invisible. Nevertheless, Russia is trying to use the BRICS is an amorphous formation as a tool against Western sanctions. Flow of Western investment in the Russian economy grew scarce on the background of increasing outflow of capital from Russia. Sanctions may result in the termination of Russia's cooperation with the EBRD, the World Bank and the IMF. It is necessary to replace something these sources.

For comparison, the European Union is just the same monolith compared to the BRICS, this community and the geographical and economic, and political. Much less amorphous than the BRICS, and a G7.

July 15 BRICS summit in Fortaleza Brazilian representatives of these countries signed an agreement to create a new development bank. By signing this agreement with the Russian side, CB Head Nabiullina said that the bank was not created as a mechanism against sanctions, but it can help create a "more financial comfort in the event of a negative scenario."

This initiative will require Russia to big expenses. Thus, in the capital of each of the five countries will make 10 billion dollars. It's good that you need to make cash just 2 billion, and the rest - safeguards. Plus, there will have to be spent on the pool of foreign exchange reserves, which amount to $ 100 billion. And Russia will provide 18% of this amount. Meanwhile, our economy has not yet recovered from the Olympic Games in Sochi. It is unclear how much money will go to the Crimea and how much will be spent in the current situation in Ukraine. Although, of course, you can pick up the money from future retirees, as well as raise taxes and introduce new - for example, sales tax.

Judging by the fact that the headquarters of the bank BRICS planned to place in Shanghai or Delhi, the first violin in the orchestra will play not exactly Russia. Especially the size of China's economy surpasses the size of the economies of the rest of the group together. Expect any major infusions of neoplasms in the Russian economy is not necessary.

And not the fact that Russia will not spoil soon relations with China. Recall that the first period of friendship, when they sang "Stalin and Mao listen to us," was short-lived. Within a few years, our country became bitter enemies.

Russia already has one example of such a "political bank." On the basis of EVROFINANCE MOSNARBANK was established Russian-Venezuelan bank. But his work is neither good nor bad. During the period from June 1, 2013 to June 1, 2014, its assets were reduced almost twice. Basically, the bank is used as a tool for trade settlement between the two countries.

It is possible that the bank will be stillborn BRICS initiative. After all this activity is consistent with our hastily "reversal of the East" due to sanctions. It is clear that the termination of the Russian-Ukrainian conflict eliminate our interest in this bank. Major natural partner for Russia was, is and will be the EU. Economic and political rapprochement with China - a dubious way to Russia.

Analyst Andrew Lusnikov called this activity a cargo cult: "The natives see that the white man is winning the battle using a rifle, so they cut themselves out a similar-looking rifle from wood hoping to reverse the battle trend."

Carl
17-07-2014, 16:16
Reminds me of an old saying..
"Хотели как лучше, а получилось как всегда"...