Overthrow The Technocrats: BRICs Plan Bank To Rival IMF & World Bank

Susanne Posel, Contributor |

The BRICs nations are poised to develop a new bank by 2014 along with the collaboration of their respective fiat currencies to create a balance in the worth of fiat against the tyrannical control of the International Monetary Fund (IMF) and the World Bank (WB). While their most recent Summit has not realized the inception of this bank, the viable threat to the technocrats still has a presence.

Pravin Gordhan, finance minister of South Africa stated: “The roots of the World Bank and IMF still lie in the post-world war two environments. The reforms that have taken place are still inadequate in terms of addressing the current environment. We still have a situation where certain parts of the world are over-represented. We should see the BRICs bank as part of a new paradigm to share resources and, as the Chinese minister said, achieve a win-win outcome.”

The IMF and WB are categorized as having a “liberal order” of control which they use to take over nations with loans and trade for indigenous resources. They install multi-national corporations to extract those natural resources and hand them over to technocratic leaders to be monetized and manipulated on global markets.

According to Moisés Naím of the Carnegie Endowment for International Peace, the shift of economic power from West to East is represented in the BRICs nations.

Technocratic supporters view the BRICs new bank as a “creation of [a] new Bretton Woods-type institution” for the developing world. Martyn Davies, chief executive officer of the Frontier Advisory stated: “There’s a shift in power from the traditional to the emerging world. There is a lot of geo-political concern about this shift in the western world.”

At the 5th Summit of the BRICs nations, the theme was “BRICS and Africa: Partnership for Development, Integration and Industrialization” while reaffirm[ing their] commitment to the promotion of international law, multilateralism and the central role of the UN.”

These nations have collaborated for the “prevailing” goal of “global governance”, yet want to unseat current institutions “which were conceived in circumstances when the international landscape in all its aspects was characterized by very different challenges and opportunities.”

BRICs have combined-foreign currency reserves of $4.4 trillion which lends to their rise as an economic threat to the technocrats. A crisis fund has been set-up with $100 billion already allocated to these purposes.

Russia has contributed $10 billion to the prospective bank.

In response to the current financial stance of the nation, Russia is considering banning cash payments higher than $10,000 by 2015 to place more reserves in Russian banks. In a document prepared by the Ministry of Finance, there would be two phases of restrictions:

• Ban purchased worth more than $19,500
• Cash-free salary payments

Small corporations could opt-out and pay employees with cash. Other corporations would utilize a pre-paid card to ensure that the money remains digital when transferred from corporation to employee.

Maite Nkoana-Mashabane, international relations minister of South Africa said: “We need to change the way business is conducted in the international financial institutions. They need to be reformed.”

Foreign direct investment (FDI) of BRICs has grown from $282 billion in 2012 and expected to surge to $500 billion by 2015.

At the latest BRICs summit, Russian President Vladimir Putin cautioned that the prospective bank “must work on market principles.”

A global concept must be defined by the direction of a global order for this century with a focus on geopolitical issue for individual regions as well as common ground to combine efforts of economic success.

China and Brazil are major players in so far as resource trade on the world’s stage and financial currency swaps that have resulted in $30 billion in bilateral trade.

The new bank would provide an option to nations being harassed by the IMF and WB as economies are put in compromising positions for the forced trade of natural resources. This BRICs bank will offer stabilization to emerging economies while adding to infrastructure.

Josh Earnest, press secretary for the White House commented: “Many of the important details regarding the proposed BRICS Development Bank are not yet clear. We hope it will work closely with existing international financial institutions and follow best practices.”

The US and the BIRCs nations are in good standing. The Obama administration has come to relations with the BRICs along with other international organizations. Earnest said: “We welcome their constructive engagement on global issues.”

According to the UN Conference on Trade and Development (UNCTAD) latest report, BRICs nations have increased their investment in African infrastructure, manufacturing and services with a focus on petroleum and minerals.

Jim O’Neill, executive from Goldman Sachs, proposes that Africa’s economy is too small to qualify them to be part of BRICs. O’Neill said: “South Africa has too small an economy. There are not many similarities with the other four countries in terms of the numbers. In fact, South Africa’s inclusion has somewhat weakened the group’s power.”

Despite the assertions by the technocrats, the BRICs represent 25% of the global gross domestic product (GDP) and 40% of the world’s population.

Author Bio

Susanne Posel is the Chief Editor of Occupy Corporatism Our alternative newssite is dedicated to reporting the news as it actually happens; not as it is spun by the corporate-funded mainstream media. You can find us on our Facebook page.

2013-04-09 03:53:27

Source: http://www.whiteowlconspiracy.com/2013/04/overthrow-technocrats-brics-plan-bank.html