BRICS take another step to reduce USA dollar dominance
BRICS Leaders Dilma Rousseff, Manmohan Singh, Vladimir Putin, Xi Jinping and Jacob Zuma (Agência Brasil Roberto Stuckert Filho)
The BRICS nations (Brazil, Russia, India, China, and South Africa) plan to take another step against the West:
BRICS establish $100bn bank and currency pool to cut out Western dominance
The group of emerging economies signed the long-anticipated document to create the $100 bn BRICS Development Bank and a reserve currency pool worth over another $100 bn. Both will counter the influence of Western-based lending institutions and the dollar.
The new bank will provide money for infrastructure and development projects in BRICS countries, and unlike the IMF or World Bank, each nation has equal say, regardless of GDP size.
Each BRICS member is expected to put an equal share into establishing the startup capital of $50 billion with a goal to reach $100 billion. The BRICS bank will be headquartered in Shanghai, India will preside as president the first year, and Russia will be the chairman of the representatives.
“BRICS Bank will be one of the major multilateral development finance institutions in this world,” Russian President Vladimir Putin said on Tuesday at the 6th BRICS summit in Fortaleza, Brazil.
The big launch of the BRICS bank is seen as a first step to break the dominance of the US dollar in global trade, as well as dollar-backed institutions such as the International Monetary Fund (IMF) and the World Bank, both US-based institutions BRICS countries have little influence within.
“In terms of escalating international competition the task of activating the trade and investment cooperation between BRICS member states becomes important,” Putin said.
Russia, Brazil, India, China and South Africa account for 11 percent of global capital investment, and trade turnover almost doubled in the last 5 years, the president reminded. http://rt.com/business/173008-brics-bank-currency-pool/
FORTALEZA(Brazil)/ New Delhi: Terming the agreement towards setting up BRICS New Development Bank a significant step, Indian Prime Minister Narendra Modi on Tuesday said an open international trading regime is critical for global economic growth.
In his statement on the agenda “Sustainable Development and Inclusive Growth” at the sixth BRICS summit, he said the global economic environment remains uncertain and recovery was still fragile despite improved prospects. http://timesofindia.indiatimes.com/india/Agreement-on-BRICS-development-bank-significant-step-Modi/articleshow/38441788.cms
Fed up with U.S. dominance of the global financial system, five emerging market powers this week will launch their own versions of the World Bank and the International Monetary Fund.
Brazil, Russia, India, China and South Africa -the so-called BRICS countries – are seeking “alternatives to the existing world order,” said Harold Trinkunas, director of the Latin America Initiative at the Brookings Institution.
At a summit Tuesday through Thursday in Brazil, the five countries will unveil a $100 billion fund to fight financial crises, their version of the IMF. They will also launch a World Bank alternative, a new bank that will make loans for infrastructure projects across the developing world.
The five countries will invest equally in the lender, tentatively called the New Development Bank. Other countries may join later…
Whatever their differences, the BRICS countries have a shared desire for a bigger voice in global economic policy. Each has had painful experiences with Western financial dominance: They’ve contended with economic sanctions imposed by Western powers. Or they’ve been forced to make painful budget cuts and meet other strict conditions to qualify for emergency IMF loans.
Now, says Thomas Wright, a fellow at Brookings’ Project on International Order and Strategy, “they want a safety net if they fall out with the West.” http://www.aol.com/article/2014/07/14/emerging-nations-plan-their-own-world-bank-imf/20931075/?icid=maing-grid7%7Chtmlws-main-bb%7Cdl24%7Csec1_lnk2%26pLid%3D501669
For years Russia and China have been attempting to eliminate domination of the world’s financial markets and reserve currency by the US dollar. Other nations, including those not in BRICS (like the Gulf States and the Europeans) want to do the same thing.
Notice an older news story from Pravda that confirms the BRICS plans:
May 17, 2013
The US is bankrupt. Yet Uncle Sam continues to stride the world stage and can simply print more money to get by because the dollar is the world’s reserve currency. Remove it as the reserve currency, and the US will no longer be able to remain supreme or fund its wars by relying on what would then be a worthless paper currency…
China has been implementing bilateral trade agreements with a number of countries, whereby trade is no longer conducted in dollars, but in local currencies. Over the past few years, China and other emerging powers such as Russia have been making agreements to move away from the US dollar in international trade. The BRICS (Brazil, Russia, India, China, South Africa) also plan to start using their own currencies when trading with each other. Russia and China have been using their own national currencies when trading with each other for more than a year.
Under Saddam, Iraq was not using the dollar as the base currency for oil transactions. Neither is Iran right now. http://english.pravda.ru/business/finance/17-05-2013/124594-dollar_crisis-0/
Notice something I wrote about the US dollar in my book Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term:
The financial policies of the Obama Administration (which are a massive acceleration of the previous policies of the Bush Administration) are heading the world into the direction that something other than the U.S. dollar will be valued as its reserve currency. (Thiel B. Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term. Nazarene Books, 2013, p. 133)
Many leaders of the world are trying to move away from the US dollar as the world’s reserve currency. And lest seem to be considered a new position by me, these type of warnings were also in a book I wrote in 2009 (2012 and the Rise of the Secret Sect)–and this is coming to pass. However, it will have a lot more European influence than the BRICS probably now believe (read, for example Europa, the Beast, and the Book of Revelation, and watch, for example, Can You Prove that the Beast to Come is European?).
When the USA dollar loses its dominance as the world’s reserve currency, this will mean high inflation and ultimately disaster for the USA.
The current world order dominated by the USA, and formerly by the UK is being changed. The Bible shows that the time of Jacob’s trouble (Jeremiah 30:7) is getting nearer. The Bible also tells of the final time of the Gentiles–and while Europe will lead, the Bible shows that the Beast power will prosper the merchants of the earth (Revelation 18:3)–and that will include the BRICS nations. As far as Brazil itself goes, I believe that it will end up closer to Europe than the BRICS nations, but that does not mean that it cannot have trade and other arrangements with groups like BRICS.
The Bible shows that a power in Europe will control much of the world’s economies for a while–and some of the steps for this to occur have already happened. And eventually, after massive devastation (the Great Tribulation and the Day of the Lord), Jesus will return and establish His kingdom.
For some items of possibly related interest, please check out the following:
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter? and British are the Covenant People. A short YouTube of prophetic interest may be Barack Obama and the State of the Apocalypse.
Will the Anglo-Saxon Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves? Here is a related item in the Spanish language ¿Serán divididas las naciones anglosajonas?
British are the Covenant People What do ‘British’ and ‘Britain’ mean in Hebrew? Are the descendants of the Anglo-Saxons people of the covenant? Does the British royal family connect to the throne of David? What does the Bible teach? What does history show us? Is there any DNA evidence related to British-Israelism? When did Christianity make it to the British Isles? Could Jeremiah have made it to the British Isles? What type of Christians made it to the British Isles? Did the last King of England believe in British Israelism?
Canada in Prophecy: What Does Bible Prophecy, Catholic Prophecy, and other Predictions Suggest About the Future of Canada? There are prophecies that suggest involvement with Canada. And many are not positive about its future.
Who is the King of the West? Why is there no End-Time King of the West in Bible Prophecy? Is the United States the King of the West?
The Gospel of the Kingdom of God was the Emphasis of Jesus and the Early Church Did you know that? Do you even know what the gospel of the kingdom is all about? You can also see a YouTube video sermon The Gospel of the Kingdom.
Russia: Its Origins and Prophesied Future Russia in prophecy. Where do the Russians come from? What about those in the Ukraine? What is prophesied for Russia and its allies? What will they do to the Europeans that supported the Beast in the end?
Is Russia the King of the North? Some claim it is. But what does the Bible teach? Here is a link to a video, also titled Is Russia the King of the North?
India and the Beast of Revelation 13 Do biblical, Catholic, and even Hindu prophecies suggest that many in India will follow, for a while, the Beast and False Prophet/Antichrist? Here is link to a related YouTube video Will People in India Worship the Beast of Revelation 13?
China, Its Biblical Past and Future, Part 1: Genesis and Chinese Characters Where did the Chinese people come from? This article provides information showing that the Chinese peoples must have known about various accounts in the Book of Genesis up until their dispersion after the Tower of Babel. Here is a link to a version of this article in Spanish: ¿Prueban los caracteres chinos la exactitud de la Biblia?
China, Its Biblical Past and Future, Part 2: The Sabbath and Some of God’s Witness in China When did Christianity first come to China? And is there early evidence that they observed the seventh day sabbath?
Asia in Prophecy What is Ahead for Asia? Who are the “Kings of the East”? What will happen to nearly all the Chinese, Russians, Indians, and others of Asia? China in prophecy, where? Who has the 200,000,000 man army related to Armageddon? A YouTube video of interest may be Is China THE Threat to the United States of America?
The Eurasian Union, the Kings of the East, and Bible Prophecy Is there a Eurasian union that will be formed? Is one being formed right now? Are any leaders working on that in the 21st century? Does the Bible teach that there will be a Eurasian union? If some type of Eurasian union is formed, who might it benefit and who will it destroy? A related video would be Is The Eurasian Union Rising?
Africa: Its Biblical Past and Prophesied Future What does the Bible teach about Africa and its future? Did the early Church reach Africa? Will God call all the Africans?
Mexico, Central America, South America, Brazil, and the Caribbean in Prophecy [Español: México, América central, Suramérica, Brasil y el Caribe en la profecía] [Português: México, América Central, Ámérica do Sul, e Brasil na profecia] What will happen to those of Latin America? Will they have prosperity? Will they cooperate with Europe? Will they suffer in the future? What role might the various Caribbean nations/territories play?
Can the Great Tribulation Begin in 2014, 2015, or 2016? Can the Great Tribulation begin today? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord?
Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term This is a 160 page book for people truly interested in prophecies related to Barack Obama and the United States, including learning about many that have already been fulfilled (which the book documents in detail) and those that will be fulfilled in the future. It also has a chapter about a Republican choice. This book is available to order at www.barackobamaprophecy.com. The physical book can also be purchased at Amazon from the following link: Barack Obama, Prophecy, and the Destruction of the United States: Is Barack Obama Fulfilling Biblical, Islamic, Catholic, Kenyan, and other America-Related Prophecies? What About Republican Leaders? Second Edition for Second Obama Term.
Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition. This electronic version is available for only US$2.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition.
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