BRICS Bank: New Development Bank

Posted: July 22, 2014 in Uncategorized

In Fortaleza, the BRICS (Brasil. Russia, India, China, South Africa) launched the Bew Development Banks (still in US Dollar) as bank to counterbalance the IMF, dominated by the US.

Two days ago, Argentina launched a swap agreement in which practically links its economy to China.

In the Pacific already a lot of transactions are in Yuan.

Russia logically is trying to disengage from the US Dollar.

This is part of the US disengagement. And also the demise of the US Dollars as world currency (already decreased by 50% as transactional currency since 1992).

And it will have more consequences that people thinks. When the British Pound lost its status of currency status, soon afterwards the British Empire collapsed. And it always happened throughout history.

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