$100 Billion BRICS Fund: Yet Another Nail In U.S. Dollar Hegemony

The BRIC coalition’s alternative to the United States’ IMF is now fully funded and operational.   This new emergency lending agency will disrupt the United States Government’s and EU’s ability to conduct predatory financing raids on countries seeking international financial aid.

Perhaps it means that the next time a Greece event develops, it won’t end with either the U.S. or the EU engaging in full-scale confiscation of the target country’s primary national assets.

The $100 billion BRICS Contingent Reserve Arrangement (CRA) has become fully operational following the inaugural meetings of the BRICS CRA Board of Governors and the Standing Committee in the Turkish capital of Ankara.

“The first meetings of the governing bodies mark the start of a full-scale operation of the BRICS Contingent Reserve Arrangement as an international institution with activities set to enhance and strengthen cooperation,” said a Russian Central Bank statement on Friday.

BRICS leaders Xi Jinping, Vladimir Putin, Jacob Zuma, Narendra Modi and Dilma Rousseff witnessed the signing of the agreement on the CRA in the Brazilian city of Fortaleza in July 2014.

You can read the rest of this article here:  $100 Billion BRICS Monetary Fund Now Operational

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2 thoughts on “$100 Billion BRICS Fund: Yet Another Nail In U.S. Dollar Hegemony

  1. It’s about time. The US dollar needs to collapse, in order for the rest of the world’s free markets to adjust and correct for the incredible aberrations and distortions, caused by the US dollar.

    For 44 years, the world has been the victims of fraud by the US dollar hedgemony, which has exported (I am guessing) billions of dollars of US inflation, and effectively plundering the rest of the world’s resources.

    In short, the US is a parasite and has been a net importer for years and contributes very little to the World GNP, once you subtract its parasitic values, and further, is a threat to global peace, owing to its numerous wars, past and present.

    As Mr. Putin told his people at the beginning of the US sanctions, “This will only last for two years” (words to that effect), which sort of implies that he knows something is up, similar to this little tidbit of news.

    For one thing, Russia and China are aggressively building their gold reserves, most of it seems to have come from Fort Knox, making me wonder why the Fed never changes their official gold figure of 8133.5 tons, even though the US has thousands of tons of gold traded on their books every year. Hmmm?

    Whether you like gold or hate it, or if you believe that gold will eventually back our currencies again or not, you still have to wonder why the rest of the world’s central banks continue to stockpile and increase their gold holdings.

    A growing number of people are coming to question the validity of the above US gold holdings. I highly doubt that Fort Knox is full of gold as they say, and further believe Fort Knox to be empty, and further, even if there is lots of gold there, it will probably be found to have claims on it by other counter-parties. It’s time to audit the Fed.

    This should be highly disturbing to every American, even if they hate gold because as Hjalmar Schact (Hitler’s Reischbank President) was famously quoted as saying to Hitler, “Don’t worry Adolph, Everyone ALWAYS Accepts Gold”, and with that in mind, if Fort Knox is in fact empty, the rest of the world will view the US dollar as worthless.

    There are approximately 165,000 tons of known gold. Only a very small percentage of it (one or two thousand tons), is available for sale in the market, which is its market float.

    The remainder of the gold is owned by someone and these owners almost NEVER sell any, leaving the gold market a very thin market, which can be influenced greatly by a few large buyers or sellers, very quickly.

    We know that much of that unavailable stock of gold is owned by central banks, some ETF’s and hedge funds, the Comex, and large banks. The rest is owned by private holders.

    The main point, contrary to the common notion that gold is hated by everyone, is that ALL but a very tiny amount of known gold is OWNED by someone, and they don’t sell it, so for sure, those owners do not hate gold, save and except for most of the banks, who use their holdings to manipulate the price.

    When the US dollar is substantially reduced to just another low-class wheelbarrow currency, it will very likely wipe the smug and arrogant smiles off the faces of the Two Stooges pictured above.

    Gold and Silver Reigns Supreme As Non-Inflatable Money.

  2. The relatively tiny dollar – denominated size of these funds, especially given the confidence the BRICS are carrying this out, doesn’t make sense. Unless, they’re backed by physical Gold, and they know they will unleash the dollar POG soon.

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