Keep up with the news by installing RT’s extension for . Never miss a story with this clean and simple app that delivers the latest headlines to you.
The BRICS summit in northeast Brazil has already made history for one key reason; the creation of the New Development Bank.
View full story
While Russia, China, South America and Africa brothers discussing co-operation
I wish to live in South America or Africa or Siberia - good peaceful places
It's a big blow to the Us and Big headed EU
US and its EU allies gather together discussing Weapons ,war, Sanction. While Russia and China gather with Its South America and Africa brothers discussing co-operation in business, IT , better live- improvement programs (improving infrastructure).
People think the Wrstern world are worried about Brics.
The US is worried about the BRICS - and even more about their new development bank - hence the downing of the civil plane in Ukraine.
Christian Noyer, Governor of the Bank of France and a member of the European Central Bank’s Governing Council, said that "Washington’s sanctions are driving companies and countries out of the dollar payments system". The huge sum extorted from the French bank, BNP Paribas, for doing business with countries disapproved by Washington makes clear the increased legal risks that arise from using the dollar when Washington makes the rules"
... And also the BRICS bank has $10 billion invested by each member meaning they all have a fiar (sic) share.
Yeeahhh. I think you misread me. I made no comment about why the bank was established, or anything in favor of Bretton Woods (God no). Oh, and you're only talking about the initial $10bn capitalisation (which is one member one vote). The bulk input for the Contingency Reserve Agreement is from China (the CRA is the bit that does the IMF's job) as is the lion's share of CRA votes (39.95%, China Daily for a source). Just sayin'.
Kayo, Escobar: spot on.
Why is it that I can't help but pull for BRICS?
Finally,an atricle devoid of sophmoric insults and idealizations of Western leaders from Pepe Escobar.
It has one galring inaccuracy, that of the Shanghai Cooperation Organization.Escobar 's wording is vague so it could mean many things!One thing is for sure:the SCO is not a 'security' organization.
Th e depths of despisement the author has towards the USA should be enough for him to stay out of the country,yes?
The old axiom 'go where thoust is welcome' applies.
"Global& quot; not a fan of such Globalist/New World Order words.
Nati onalist Russia and China? Now you're talking! Nationalism = Only real opposition.
F ed/IMF/WB/BIS, G$, serial banksters into the biz of a-z monopolies and middlemen Casino Games (force debt$, force "technical" ; bankruptcie$, rent your country back to you at exponential usury, take and break cultures/societies.. .)
Sustainabl e living is somewhere between Over-industrializati on and Under-industrializat ion and all of societies experience their local connection to earth, reality, time, cultural flowering...
I only wish the BRICS nations would move even faster than they are.
Power to the BRICS.
the voting model for the BRICS bank looks like it'll follow the IMF/WB type with votes reflecting contribution.
No the BRICS development bank was created for the idea of investing money into development of a conutries infastructure. The IMF doesn't develop nations it enslaves them. The IMF asks them to make cuts to pensions and benefits and asks them to increase taxes to increase revenue. This increases poverty and a countries unemployment rate. And also the BRICS bank has $10 billion invested by each member meaning they all have a fiar share.
casino capitalism VS a productive capitalism model.
They have together a 16 trillion GDP economy, the same GDP as the US.
They are almost 3 billion people( 9 times US population, and 6 times Europe's)
Geogra phically they are very BIG. 40 million square Km.(more than 4 times the US), so huge natural resources.
Even though they are not such tech advanced like US, they are a huge force to reckon.
Rambling, incoherent, polemical, west all baddies, rest all goodies, tin foil hatted stuff. By the by, the voting model for the BRICS bank looks like it'll follow the IMF/WB type with votes reflecting contribution. So alternative power block, for sure, but not beyond criticism for it.
Mr Escobar you are spot on. It's very cheering to see the Global South finally finding its voice and taking a stand.
Pepe like always you are spot on your observations and analysis. I just wish I could see your articles in the main media. Keep on the good work.
Authorization required for adding comments
You must follow the link in the confirmation
email before you can log in.
Resend confirmation email
Don't forget to check your spam folder
The confirmation email has been sent
To complete a registration check
A password has been sent to your email address
Retype new password