Aug 062015
 
The “Old Monies” group follows news, announcements, and press releases on these websites along with central banker speeches. If you really want to know what is going on become a member of this Markethive group.   Not a member – follow this link to have your own account and be a part of this group. https://markethive.com/group/newmonies The key elements of focus with these institutions are the Global Reserve Currency and the status of Global Trade and Commerce. The Bank for International Settlements – https://www.bis.org/ The Bank for International Settlements (BIS) is the world’s oldest international financial organisation. The BIS has 60 member central banks, representing countries from around the world that together make up about 95% of world GDP. The International Monetary Fund – http://www.imf.org/external/ The IMF’s primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries (and their citizens) to transact with each other. The Fund’s mandate was updated in 2012 to include all macroeconomic and financial sector issues that bear on global stability. The World Bank – http://www.worldbank.org/ Five Institutions, One Group The World Bank Group consists of five organizations: The International Bank for Reconstruction and Development The International Bank for Reconstruction and Development (IBRD) lends to governments of middle-income and credit worthy low-income countries. The International Development Association The International Development Association (IDA) provides interest-free loans — called credits — and grants to governments of the poorest countries. Together, IBRD and IDA make up the World Bank. The International Finance Corporation The International Finance Corporation (IFC) is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. The Multilateral Investment Guarantee Agency The Multilateral Investment Guarantee Agency (MIGA) was created in 1988 to promote foreign direct investment into developing countries to support economic growth, reduce poverty, and improve people’s lives. MIGA fulfills this mandate by offering political risk insurance (guarantees) to investors and lenders. The International Centre for Settlement of Investment Disputes The International Centre for Settlement of Investment Disputes (ICSID) provides international facilities for conciliation and arbitration of investment disputes. The BRICS Post – http://thebricspost.com/ The BRICS Post is an international news and views website with writers, analysts, and experts in over a dozen countries. It is published by BRICS Media (more…)
Jul 222015
 
The New Development Bank, which opened today in Shanghai, has been overshadowed recently by the AIIB. The BRICS grouping opened its new bank, the New Development Bank (NDB), at a ceremony in Shanghai on Tuesday. The ceremony was attended by China’s finance minister, Lou Jiwei, NDB president K.V. Kamath, and Shanghai Mayor Yang Xiong. The bank is expected to start operations in late 2015 or early 2016, according to Xinhua. The creation of the NDB was announced at the BRICS summit in Brazil in July 2014. The bank was – and is – envisioned as an answer to the current international financial system, which is dominated by the West. Xinhua’s article on the NDB explained that the BRICS countries “have been marginalized in the global financial landscape,” especially at the World Bank and International Monetary Fund (IMF). The NDB is clearly intended as a solution to that problem. As the bank’s website puts it, the NDB is “operated by the BRICS states (Brazil, Russia, India, China and South Africa) as an alternative to the existing U.S.-dominated World Bank and International Monetary Fund.” Still, despite the NDB being depicted as an alternative to existing institutions, officials have been adamant that the bank is designed to “supplement” rather than supplant the current system. Finance Minister Lou told a seminar that “the NDB will supplement the existing international financial system in a healthy way and explore innovations in governance models,”according to Times of India. Bank president Kamath insisted that “our objective is not to challenge the existing system as it is but to improve and complement the system in our own way.” Jim Yong Kim, president of the World Bank, was similarly upbeat about cooperation in a congratulatory statement on the bank’s opening. “We are committed to working closely with the New Development Bank and other multilateral institutions, offering to share our knowledge and to co-finance infrastructure projects,” Kim said in a statement. “These types of partnerships will be essential to reach our common goals to end extreme poverty by 2030, boost shared prosperity, and to reduce inequalities.” The BRICS bank, like much of the BRICS interactions, is devoted to the idea of equality. “In the New Development Bank each participant country will be assigned one vote, and none of the countries will have veto power,” the NDB website explains. The initial capital of $50 billion in the bank will also be “equally shared” among the five founding nations,Xinhua reported, meaning each country (more…)
Jul 162015
 
This is how. Over the past few days and (to a lesser extent) past few months, we have witnessed a remarkable series of events. First, we had a member (i.e. victim) of the corrupt European Union stand up to the bullies of the Troika, and say “no.” No, to more extortion. No, to more economic rape (via enslavement to debt). No, to the continuing/worsening infringement on its sovereignty. Obviously that nation was Greece, a nation which everyone, including the new government of Greece, agrees is bankrupt. In the world of commerce, there is only one “solution” to bankruptcy: reduce the debt, if not eliminate it, completely. The corrupt EU, European Central Bank, and the International Monetary Fund have absolutely refused to consider any reduction in Greece’s debt-load. In other words, they have absolutely refused to consider helping Greece. Instead, this diabolical political/economic cabal dictated an ultimatum. It demanded that Greece take on more debt, harming that economy even further under the weight of the additional interest payments on that debt, when it is already impossible for Greece to pay the interest on its current debt. And, as a “condition” for burying Greece under more, punitive debt, these economic sadists were also demanding that Greece implement more (suicidal) Austerity policies. As previous commentaries have pointed out, Austerity kills. Every Eurozone nation which has engaged in this seemingly neo-Nazi, economic suicide has seen its economy get sicker, and its deficit problems get worse, not better. Thus every Eurozone nation – except Greece – has been allowed to back-off on this economic suicide, in order to prevent the total collapse of those economies, as well. In simplest terms, for every 1 euro in “Austerity” cuts, the government loses 2 euros in revenues. It is not a path to economic salvation. Rather, it is the surest and most rapid means to complete the destruction of these already insolvent economies. Thus when Greece said “no” to more debt and more Austerity, it was doing nothing more than saying “yes” to common sense. However, the tyrannical Troika would not accept “no” as an answer to their ultimatum. The Eurozone thugs tightened their choke-hold on Greece’s economy, trying to throttle it into submission. Simultaneously, they attacked the Greek people with their propaganda: any and every form of fear-mongering of which these tyrants could conceive. As a response to the increasing lies, political pressure, and economic blackmail, Greece’s (more…)
May 082015
 
The Next Empire – :Part Four A New Central Bank From Doug Casey’s Internationalman.com. http://www.internationalman.com/articles/the-next-empire Editor’s Note: Russia has ratified an agreement on the New Bank for Development set up by BRICS and has ratified the equivalent of1$00B solidifying it role in the China formed Asian Infrastructure Investment Bank (AIIB) at the beginning of this month. Here is an April 15th article about AIIB in the ‘South China Seas’. Click Here In recent decades, China and Russia have been expanding their economic powers dramatically and have periodically complained that their seats at the IMF table are unrealistically low, considering their importance to world trade. In 2014, China officially replaced the US as the world’s largest economy, yet the IMF has consistently sought to minimise China’s place at the table. It would seem that the West believes that it’s holding all the cards and that the Chinese and other powers must accept a poor-sister position, if they are to be allowed to sit at the IMF table at all. The West somehow does not seem to recognise that, if frozen out, the other powers have the ability to create alternatives. As with the SWIFT system, the Asian powers have reacted to US overreach, not by going away licking their wounds, but by creating a second IMF. The Russian State Duma (the lower house of the Russian legislature) have now created the New Development Bank. It will have a $100 billion pool, to be used for the BRICS countries. Its five members will contribute equally to its funding. It will be centered in Shanghai, India will serve as the first five-year rotating president, and the first chairman of the board of directors will come from Brazil. The first chairman of the board of governors is likely to be Russian Finance Minister Anton Siluanov. It’s therefore structured to be truly multinational. In creating all of the above entities, the BRICS will, in effect, have created a complete second economic world. In the latter days of the British Empire, we Brits seemed to be under the illusion that, even as our power base crumbled, we might somehow retain control by threats and bluster. The UK was utterly wrong in this and only succeeded in alienating trading partners, colonies, and allies by doing so. The same is happening again today. China, Russia, and the rest of the world, when faced with American threats and bluster, (more…)
Mar 302015
 
  March 29, 2015 12:00 am JST MASAHIRO OKOSHI and SHOGO AKAGAWA, Nikkei staff writers for Asian Review Chinese President Xi Jinping delivers a speech at the Boao Forum, in Boao, Hainan Province, on Saturday. © Kyodo BOAO, China/BERLIN — More than 40 countries are likely to become founding members of the China-led Asian Infrastructure Investment Bank.      Russia is the latest to announce that it will participate in the AIIB. It did so Saturday when Igor Shuvalov, first deputy prime minister, expressed the intention during the Boao Forum in China’s southern Hainan Province.      The announcement came a day after Brazil’s decision to join the bank. The office of Brazil’s president issued a statement Friday that Brazil had accepted China’s invitation. This means four of the five BRICS will join; only South Africa has not committed.      Meanwhile, Australian finance minister Mathias Cormann said at the Boao Forum that Canberra will officially announce on Sunday morning.      China’s finance ministry has said the Netherlands and other countries will follow suit.      Denmark also announced Saturday that it will join. Northern European countries are getting ready to jump in. A Swedish finance ministry official told the Nikkei that Sweden is mulling founding-member status. The Finnish government is said to be deliberating the matter as well.        Speaking at the Boao Forum on Saturday, Chinese President Xi Jinping expressed confidence about Beijing’s steady progress toward establishing the AIIB. “We will welcome with open arms moves to finish the important job in partnership with our friends around the world,” he said.      While Xi is calling for international relations to be based on cooperation and mutual benefit, he is moving to strengthen China’s international ties via the country’s economic clout. He also wants China to play a central role in Asian diplomacy.      In October, 21 countries reached a basic agreement to establish the AIIB. More have since expressed their intention to be a part of the institution. The deadline to sign on is Tuesday.      Japan and the U.S. remain wary of China’s intentions with the bank.      Separately, Brazil, Russia, India, China and South Africa have agreed to establish a new BRICS development bank to support economic development in Africa as well as in Central and South America. Original article Here Share this:FacebookLinkedInTwitterGoogleTumblrPinterestReddit (more…)
Mar 302015
 
China’s foreign policy fired all eight cylinders on Saturday. There has been a stampede of countries wanting to be founder members of the Asian Infrastructure Development Bank [AIIB] – South Korea, Australia, Brazil, Russia, Netherlands, Switzerland, Georgia and so on. Even Taiwan — if only Beijing could find a way to admit an entity that it considers a part of China. Monday is the deadline for aspiring applicants.     Russia joins China-led Asian Bank March 28, 2015, 5:21 am Denmark applies to join China-backed AIIB investment bank   Share this:FacebookLinkedInTwitterGoogleTumblrPinterestReddit (more…)