72 points of BRICS Summit Declaration

[Natural Citizen]

Seems to be a rather comprehensive charter for the organization.

http://indiatoday.intoday.in/story/7.../1/372744.html




Aside - Incubating a non-dollar architecture...

"After two years of intense negotiation, the BRICS leaders finally launched the New Development Bank on July 15 at the Sixth BRICS Summit in Fortaleza, Brazil. The bank’s focus will be on infrastructure and sustainable development projects through loans, guarantees, credits and equity investments. The decision to share the initial subscribed capital of $50 billion and the resulting voting rights equally, reflects a commitment by the five countries to view each other with equity.”

“In its most basic form, this architecture would need three components, one each to support trade, settlements and investments in the local currencies of the five countries– rupees, rouble, renminbi, rial, rand.

“1. A mechanism that enables trade in local currencies. Since none of the five currencies are global reserve tender, the respective central banks will have to make their currencies available to the group. Article 24 of the BRICS bank does provide for financing of projects in local currencies. However, for enabling trade, the bank will have to enable currency swaps between the central banks or activate the Multilateral Agreement on Extending Credit in Local Currencies signed at the 4^th BRICS Summit in New Delhi in 2012.

“China has been experimenting with such swaps bilaterally to push for greater use of the renminbi. It has swaps with 21 countries including Russia and Brazil, denominated in renminbi worth up to RMB 2,600 billion ($420 billion) and is encouraging partner countries to pay for their imports from China in renminbi. Brazil has been experimenting with conducting trade with Argentina in rial and pesos through an agreement inked in 2008.”


“2. A mechanism for settling local currencies. Since trade payments will be made in five local currencies, a new settlement system will have to be created, as dollar-based transactions are ultimately cleared by the Federal Reserve of the U.S. There are no provisions in the bank for this yet but there are two models that can be built on – Asian Clearing Union and RMB Trade Settlement Scheme.”

“3. A mechanism to invest ‘surplus’ local currencies. Since trade is not perfectly balanced between the BRICS, it is likely that some countries will be left with the surplus currency of another country even after payments have been cleared through the clearing union. For instance, India has a $36 billion annual trade deficit with China. Even if 50% of it were settled through the clearing union, China will still be left with, $18 billion worth of rupees. This surplus can be settled in dollars, as ACU currency does with surpluses left over from trade between its members.

An alternative strategy would be for India to have China hold rupees in an interest-bearing financial product such as government securities or corporate bonds in India. This will enable the rupees to be re-invested into the Indian economy.

Recall that Germany recently allowed bonds denominated in Chinese yuan to be traded on the Frankfurt bourse. Expect similar bilateral currency agreements between Russia and Germany. There is a lot more to this but best to see if the thread gets moved to some irrelevant place on the boards before adding further.

[Bern]

I thought this piece in the Telegraph was a good overview of the big picture:

http://www.telegraph.co.uk/finance/c...to-an-end.html

[Natural Citizen]

It's hard to decipher the "big picture" with everything happening at once. It's enough to give people a headache.

I see that Congress is introducing a curious Bill. Asteroid Mining Bill Introduced In Congress To Protect Private Property Rights I think it's relevant in the larger scheme of things when we get into financial infrastructure. Seems like there is an underlying model where the intelligence community could be placed directly into the international finance business and international finance clearing is a hot topic in scope of everything. All of that is done electronically, of course. As in space. A lot of countries are scrambling and partnering up after the revelations pertaining to the whole intelligence spying thing with the NSA and so that's a critical area we tend to ignore.

“The crucial part of the short piece of legislation states that the resources mined from an asteroid would be the property of the entity undertaking the operation. This language gets around the provision of the Outer Space Treaty that says states are forbidden to establish national sovereignty over celestial bodies, which would be a prerequisite to the United States allowing a private entity to own an asteroid. It rather grants mineral rights to the asteroid, something the treaty does not mention. There is no enforcement mechanism in the event of a dispute with another country, however.”

[pcosmar]

There is no enforcement mechanism in the event of a dispute with another country, however.

What happens in Space, stays in Space?

[Natural Citizen]

BRICS against Dollar Dominance or the US as Global Stronghold of Evil

Brazil, Russia, India, China and South Africa – the countries which make up the group of BRICS drastically change the contemporary world. One of the trends is doing away with the financial system that emerged after the Second World War. BRICS wants to put an end to the dollar dominance or the use of green funny money to buy everything that has material value accompanied by constant cheating on the part of the United States.

Speaking at the VI BRICS summit in Brasilia (July 15-16), President Vladimir Putin said the reform of international financial-currency system has become ripe since a long time ago because it was putting the group at disadvantage and hindering the progress of new world economies, "In the BRICS case we see a whole set of coinciding strategic interests. First of all, this is the common intention to reform the international monetary and financial system. In the present form it is unjust to the BRICS countries and to new economies in general. We should take a more active part in the IMF and the World Bank's decision-making system. The international monetary system itself depends a lot on the US dollar, or, to be precise, on the monetary and financial policy of the US authorities. The BRICS countries want to change this". There is an urgent need to include BRICS as an equal partner into the decision making process of the International Monetary Fund and the World Bank.

Bringing emerging economies closer has become vital at a time when the world is guttered by the financial crisis and BRICS countries can’t remain above international problems, said Brazil's President Dilma Rousseff. She cautioned the world not to see BRICS deals as a desire to dominate. "We want justice and equal rights", she said. "The IMF should urgently revise distribution of voting rights to reflect the importance of emerging economies globally", Rousseff said.

The five BRICS countries represent almost 3 billion people with a combined nominal GDP of US$16.039 trillion and an estimated US$4 trillion in combined foreign reserves. As of 2014, the BRICS nations represented 21 percent of the world economy. The BRICS countries now account for 11% of global capital investment, and trade turnover almost doubled in the last 5 years. The trade turnover inside the group has doubled in recent years and it’s just a start. The Russian experts have prepared the BRICS Strategy for Economic Cooperation. Its implementation will let the group gain the leading positions in the world economy.

A BRICS-UNASUR (the Union of South American Nations) summit also took place. Anti-BRICS propaganda had predicted the participation of only "populist leaders" – Venezuelan President Nicolas Maduro, Ecuadoran leader Rafael Correa, the President of Bolivia Evo Morales and, perhaps, "eccentric" sometime President of Uruguay Jose Mujica. Instead, all South American leaders came to Brazil to personally see the BRICS heads of states and get the information about the group’s activities firsthand. Trade and economy topped the agenda. South America wants to get the most from its contacts with the "Big Five".

Has any such problem been solved by the United States during, say, the recent 25 years? Devastated countries, thousands dead, hundreds of assassinated politicians and military leaders who have not met the standards of the US-style democracy which is the only one that is genuine, is it not the egregious irresponsibility? Normal people are scared by the US strong desire to create Pax Americana on the ruins of other, more ancient and in a way, more perfect civilizations? It is rejected even by the closest allies of the empire. Reasonable leaders watch with concern the irrevocable of the United States turning into the global center of evil.

In context with this -

Premier eyes China currency centre in B.C

Premier Christy Clark has set her sights on having B.C. become the first North American international trade centre for China’s currency, the Renmenbi.

Clark made the announcement Monday at the Asia-Pacific Economic Co-operation forum in downtown Vancouver as prominent members of the Chinese government and private enterprises were here to visit.

“We want to take that next step and become the first international trading centre for RMB in Canada right here in Vancouver,” she said, adding she expects aid from the head of the Agricultural Bank of China to make this happen.

International Trade Minister Teresa Wat said she managed to convince a delegation of 80 high-profile Chinese businesspeople to visit B.C.’s “friendly business environment” at the forum.

Clark promised that regulations would be kept to a “minimum” to promote business.

“Our goal is to have five new head offices from Asia here in Vancouver and establish those by 2020.”

But with the draw of international investment comes cases such as Ni Ritao — a businessman with B.C. ties currently in Chinese custody on allegations of corruption — and Steven Law, a man the Province newspaper reported is the son of one of the world’s most powerful heroin dealers.

He was here on a trade delegation hosted last month by Abbotsford MP Ed Fast.

Clark said it’s outside her jurisdiction to decide who should, and shouldn’t, be in B.C.

“That’s an issue for the federal government as the body responsible for immigration and to deal with governments off-shore,” she said.

“We don’t regulate the private sector from that perspective in British Columbia.”

May see more and more of this activity that we see here from Clark happen in North America on the part of the BRICS. Currency swap agreements with local/regional/provincial/state government and whatnot to reign in the U.S. dollar currency reserve status.

I had mentioned this in a thread around here some place when this thing first became apparant regarding the fact that two can play the game of covert action. I'll maybe look for it later because there are some relevant bits there that indicated what we're seeing come into fruition at the moment.

Edit - I found it. Opinion: Obama Prepares to Smash BRICS (is a very, very informative thread, btw)

[Natural Citizen]

Argentina Defaults...

Some interesting scribbles regarding the selective default that we see Argentina considering on some of the bonds thst are held by American hedge fund investors...

“First we’re not going to sign any agreement that hurts Argentina’s future,” Kicillof said. “Second, we’re going to defend the 92% of bondholders that did restructure … In third place, we’re going to take every measure … we have to make sure this situation is not perpetuated. Argentina is ready to talk, to come to an agreement. Let’s come to a just, fair … ruling for 100% of our investors. But do not make us do anything illegal … Do not make us do anything unjust … Do not make us do anything that will make us put Argentina’s economy at risk … We won’t allow it.”

Continued - http://www.businessinsider.com/argentina-default-2014-7



It seems as if Argentina's issue with it isn't with payment but more along the lines of the refusal on the part of some folks to restructure. This would be a geo-political quirk more so than what would traditionally be perceived as a problem with actually paying it since this brand of international predatory practice would essentially allow a single American hedge fund manager to call the shots for an entire country.

Relevant reading... This Is How A Hedge Funder Brings An Entire Country To Its Knees


Recall that we've recently seen Putin and Argentina's de Kirchner negotiate that energy deal during the BRICS summit there in Brazil. The land for energy deal between Russia and Germany is still out there too...

[Zippyjuan]

Argentina wanted to refinance their debt. They offered a portion of face value to debt holders but some US financial firms refused to discount the debt they held. Argentina could not just settle with some debt holders and offer others full payment. Argentina has now called their bluff and instead of getting part of the debt they held while demanding 100%, they end up with zero percent now.

[Natural Citizen]

Argentina wanted to refinance their debt. They offered a portion of face value to debt holders but some US financial firms refused to discount the debt they held. Argentina could not just settle with some debt holders and offer others full payment. Argentina has now called their bluff and instead of getting part of the debt they held while demanding 100%, they end up with zero percent now.

So then you don't see the geo-political implication here? Or do you just not want to look? You don't think that the BRICS will intervene here? Come on, man.


What if ...oh...i don't know...let's say China comes along and buys up Singer's bonds at face value and then renegotiates them with Argentina?

I think we're going to see another South American country align itself with the BRICS.

[Zippyjuan]

They are still negotiating on a possible settlement of the debt- a large Argentinian bank may offer to buy out the holdout funds. Or maybe other international banks (no BRICs mentioned).

http://www.reuters.com/article/2014/...0QC18T20140806

Hopes for Argentina debt deal next week: sources

NEW YORK, Aug 6 (IFR) - International banks and holdout creditors of Argentine debt could reach an agreement as soon as next week, sources close to the situation told IFR on Wednesday, even though the two sides have so far been unable to agree on a price for the defaulted paper.

Negotiations to cure Argentina's second default in 13 years have stalled several times in the past week, the sources said, even though an agreement has been close.

Local Argentine banks including Banco Macro were deep in negotiations last week to buy the debt from holdouts - litigant investors headed by Elliott Management subsidiary NML Capital and fellow hedge fund Aurelius Capital - which is valued at USD1.33bn par plus accrued interest.

Argentine institutions are thought to have taken a back seat in the talks, however, with international banks likely to be behind any successful deal. Sources have named JP Morgan, Citi and HSBC as the potential suitors.

A deal between holdouts and private banks is seen as a way to get around the so-called RUFO clause on restructured bonds that Argentina says is a stumbling block to reaching any resolution directly with the litigants.

The clause requires the sovereign to offer the same terms to exchange bondholders as it does to holdouts.

[Natural Citizen]

They are still negotiating on a possible settlement of the debt- a large Argentinian bank may offer to buy out the holdout funds. Or maybe other international banks (no BRICs mentioned).

http://www.reuters.com/article/2014/...0QC18T20140806

I know that BRICS were not mentioned in the paper. That's why I mentioned it here. Cripes, these aren't geo-political wizards writing these articles. Not that I'm saying that I am either but I know a little bit about the larger scheme of things here.

I don't know, Zip. I'm going to follow this just to see how it pans out.

[Natural Citizen]

Argentina’s Senate has passed a law that will let the country continue paying off its default debt by transferring international bond payments from New York to local banks, which would let other investors buy Argentine debt...

http://rt.com/business/185300-argent...-debt-reclaim/


Aside - Bank of New York Kicked Out of Argentina

“The government bill proposing to open a new voluntary debt swap to restructured bondholders under Argentina law, to be debated in the Senate on Aug. 27, also authorizes the Finance Ministry to “take necessary steps” to remove BoNY as the country’s trustee bank for the 2005 and 2010 debt restructuring. BoNY violated the terms of the restructuring contract, by failing to pay bondholders on the June 30 deadline, despite the fact that Argentina deposited $539 million in BoNY’s account for that purpose on June 27.

“Capitanich also pointed out that a group of hedge funds, including George Soros’s Quantum Partners and Kyle Bass’s Hayman Capital, has filed a lawsuit against BoNY in London, demanding a 226-million-euro interest payment, blocked by New York Judge Thomas Griesa last month. The New York Times reported Tuesday that the plaintiffs argue that, since the interest payment they are owed is governed by British law, Griesa has overstepped his jurisdiction in blocking their payment.”

Also - Colonization by Bankruptcy: The High-stakes Chess Match for Argentina

“Global financiers and interlocking megacorporations are increasingly supplanting governments on the international stage. An international bankruptcy court would be one more institution making that takeover legally binding and enforceable. Governments can say no to the strong-arm tactics of the global bankers’ collection agency, the IMF. An international bankruptcy court would allow creditors to force a nation into bankruptcy, where territories could be involuntarily sold off in the same way that assets of bankrupt corporations are.

“For Argentina, says Salbuchi, the likely prize is its very rich Patagonia region, long a favorite settlement target for ex-pats. When Argentina suffered a massive default in 2001, the global press, including Time and The New York Times, went so far as to propose that Patagonia be ceded from the country as a defaulted debt payment mechanism.

“The New York Times article followed one published in the Buenos Aires financial newspaper El Cronista Comercial called “Debt for Territory,” which described a proposal by a US consultant to then-president Eduardo Duhalde for swapping public debt for government land.

It said - The idea would be to transform our public debt default into direct equity investment in which creditors can become land owners where they can develop industrial, agricultural and real estate projects. . . . There could be surprising candidates for this idea: during the Alfonsin Administration, the Japanese studied an investment master plan in Argentine land in order to promote emigration. The proposal was also considered in Israel.

Salbuchi notes that ceding Patagonia from Argentina was first suggested in 1896 by Theodor Herzl, founder of the Zionist movement, as a second settlement for that movement.”

Juan Domingo Peron:“Salbuchi traces Argentina’s debt crisis back to 1955, when President Juan Domingo Perón was ousted in a very bloody US/UK/mega-bank-sponsored military coup: “Perón was hated for his insistence on not indebting Argentina with the mega-bankers: in 1946 he rejected joining the International Monetary Fund (IMF); in 1953 he fully paid off all of Argentina’s sovereign debt. So, once the mega-bankers got rid of him in 1956, they shoved Argentina into the IMF and created the “Paris Club” to engineer decades-worth of sovereign debt for vanquished Argentina, something they’ve been doing until today.”

[Natural Citizen]

De-Dollarization Continues: China-Argentina Agree Currency Swap, Will Trade In Yuan...

It appears there is another nation on planet Earth that is becoming isolated. One by one, Russia and China appear to be finding allies willing to 'de-dollarize'; and the latest to join this trend is serial-defaulter Argentina. As Reuters reports, China and Argentina's central banks have agreed a multi-billion dollar currency swap operation "to bolster Argentina's foreign reserves" or "pay for Chinese imports with Yuan," as Argentina's USD reserves dwindle. In addition, Argentina claims China supports the nation's plans in the defaulted bondholder dispute.

The swap will allow Argentina to bolster its foreign reserves or pay for Chinese imports with the yuan currency at a time weak export revenues and an ailing currency have put the Latin American nation's foreign reserves under intense pressure.

La Nacion said Argentina would receive yuan worth $1 billion by the end of 2014, the first payment of a loan worth a total $11 billion signed by Argentina's President Cristina Fernandez and her Chinese counterpart in July.

Continued - De-Dollarization Continues: China-Argentina Agree Currency Swap, Will Trade In Yuan


Relevant reading - Japan, Germany shake off WWII arms constraints. A cause for concern?

[Natural Citizen]

There are so many different threads scattered around the board where international finance clearing is referenced specifically but most are relevant to the subject matter of those threads as relevance presents itself. That said, I'm just going to put this here for sake of convenience.

China announces clearing bank in Paris for RMB business...

The People’s Bank of China (PBOC), the country’s central bank, announced on Monday that it had authorized the Bank of China (BOC) as a clearing bank for RMB business in Paris.The PBOC made the decision in accordance with an MOU signed with the French central bank La Banque de France to help turn the city into an offshore RMB center.

BOC became the RMB clearing bank in Frankfurt in June while China Construction Bank was authorized to be the RMB clearing bank in London.

China stepped up plans to increase the international use of its currency last October with an agreement between the European Central Bank and the PBOC to swap euros and yuan.

These bilateral currency swaps are designed to avoid the dollar, obviously.

Meanwhile, the UK will become the first Western country to issue an offshore bond in the Chinese renminbi. This was announced after discussions between Chinese Vice Premier Ma Kai and UK Chancellor of the Exchequer George Osborne earlier last week.

Osborne says the issue will be similar in size to a 2 billion RMB bond issued in London by the China Development Bank.

Continued - China announces clearing bank in Paris for RMB business

There are various threads and/or postings around the board with regard to China's bilateral currency swap agreements with India, Russia, Argentina and now the UK and to France as well as specific mechanisms/infrastructure that they have put into place in order for it to work. China is expanding and we are seeing them build from those mechanisms and infrastructure. This is yet another point of interest. Geo-politically (meaning a network of financial clearing at the international level), we're talking long term so something to remain watchful of all things "Foreign Policy". Germany is on board (think trade). Some other countries too. The possibility may exist for military implications since what we see from China may well pull Europe from The U.S. in the area of trade. And, of course, NATO comes to mind because it's already struggling to prove it's own relevance. Anyhoo...is just a nutshell kind of once over. There exists many papers here on the boards for anyone looking for backdrop.

[Natural Citizen]

Chile seeks more Chinese investment

“We received many company executives from China who are exploring investment opportunities in sectors like mining, infrastructure, services and manufacturing … we are confident the investment figures will be completely different in three years.”

Cristi said some US$10 billion worth of toll roads, highways, bridges, public buildings, dams, ports and airports projects would be tendered in the next six years. Some of the biggest projects include the US$1.82 billion, 20km Santiago central highway, the US$633 million expansion of Santiago’s airport and the US$387 million Punilla dam for irrigation and power generation.

Continued - Chile seeks more Chinese investment

Aside - Ecuador to Develop Its Own Satellite with Chinese Help

If folks have been paying attention to international and domestic clearing infrastructure that the growing list of BRICS and other nations have been putting into place as they move from the dollar then the logic in sharing this last paper should be apparent. Recall that the large majority of intelligence spying was done on nations abroad and so while these models of clearing come into fruition we'll continue to see these space mergers. Much has been discussed with regard to the phenomenon here. Well...shared, I should say. I'm not sure we're paying attention, really. Anyhoo...

[Natural Citizen]

Argentine president hints at US plot to remove her...

Kirchner has been locked in a war of words with the United States concerning the restructuring of the country’s debt payments, following Argentina’s record $100 billion default in 2001.

"If something was to happen to me, nobody should be looking to the east, but to the north after the things that are being done in diplomatic offices,"

President Kirchner said in a speech, broadcast on national television on Tuesday, according to AP.

She said earlier that she had received threats from the Islamic State over her close ties to Pope Francis.

Argentina’s economy recently defaulted for the second time in 13 years in July and Kirchner has been quick to hit out at so-called ‘vulture funds’ – investors who reject the country’s plans to reorganize its debt. At the recent UN General Assembly, she alluded that this was, “almost a type of economic and financial terrorism,” adding that they are “economic terrorists that create poverty, hunger and misery through the sin of speculation.”

She has been at loggerheads with US District Judge Thomas Griesa since the summer. At the end of June, he blocked an Argentinian payment, which would have given $539 million to bondholders. The judge banned it from servicing its restructured debt until a small group of US hedge funds had been paid in full.

These creditors are demanding the payment of around $1.6 billion and he again ruled in their favor, holding Argentina in contempt of court on Monday.

This led to a fiery response from the president.

"All of this is not casual, and it comes from a senile judge," Kirchner said in a speech at the Presidential Palace, known as the ‘Pink House’. "Perhaps they will arrest me next time I go to New York, but let me be clear, I'm going to go anyway," she added, as reported by Reuters.

In defiance of the US Judge’s ruling, Argentina deposited a $161 million interest payment, according to the Economy Ministry. Rather than paying the hedge funds as Griesa had instructed, this money was intended for other local creditors, as the country continues to look to restructure its debt.

Kirchner not only reserved criticism for those in the US, but also those closer to home, saying there are some organizations within the Argentinian economy who are intent on bringing the country to its knees and they are not afraid to ask for help from abroad.

She believes they are after a devaluation of the peso, which last month Bloomberg described as the worst-performing major currency in the world this year and that it had lost 22 percent of its value. If the peso continues to be driven down, it will make exports more attractive and thus boosting profits.

”It's clear they want an end to our debt restructuring, an end to the labor contracts, they want a return to the past, when Argentina was on its knees begging for money at exorbitant interest rates,” the president said.

“In the ’90s, Argentina supposedly was the best of the class for the multilateral organizations, but it was a house of cards and when it collapsed, instead of helping out, they came running to recover their money,” Kirchner added in her speech, which was reported by MercoPress news agency.

Also on Monday the US embassy in Buenos Aires warned its citizens about rising crime in Argentina – a move Kirchner described as a provocation to which she will not respond.

The president’s stance has certainly improved her popularity at home. Her approval has risen in the opinion polls, despite high inflation and crime.

Continued - Argentine president hints at US plot to remove her

[Natural Citizen]

I really want to share this in the "Monsanto In Foriegn Policy" thread because it makes sense to do that but it's also relevant to other subject matter. At the heart of this issue is the fact that what she is up against are the vulturistic GMO money men. So I'm sharing it here just because it's relevant in the short term to what is already here. Take from it what you wish...

Vladimir Putin and President Cristina Kirchner of Argentina Inaugurate International Spanish RT Channel

Argentine President on western media (although cultural undertones are present. The reason I mention that is because of the cultural influence that western media enjoys in what may be said to be corruption)...

“Kirchner said that ‘this is a great moment as finally they have an international channel that will work outside of the Western MSM agenda in Spanish. This will be the channel that will broadcast real news, not the fake news prevalent in the Western MSM. It will express the true Latin American values without the interference of the third parties.’”

Within this article is discussed what wasn't really ever placed into the narrative of western main stream media. And it's important if one considers the Argentine leader's position here. Here we go...

During Putin’s summer visit, Argentina expressed desire to host the international Spanish RT channel, and at the same time, confirmed that it would be ready to increase dramatically the export of Argentine agricultural products to the Russian market to replace the banned EU products. Shortly after this, Western MSM suddenly started circulating the ‘news’ that Argentina is about to declare another default. According to the US/EU ‘news,’ Argentina failed to pay interest on its debt in a timely manner. It turned out that in order to generate the ‘pre-default’ state, Western banks holding Argentine funds designated for interest payment, froze Argentine accounts. This generated the inability by the Argentine government to pay on time. Argentinian peso immediately plummeted and capital flight started. Together with the Western MSM hysteria, all this could have tipped the country into a crisis.

Aside - Argentina President on western system of international finance & American judicial corruption

[NewRightLibertarian]

Definitely the lesser of the two evils when compared to the US/Zionist empire

[Natural Citizen]

Defying the dollar Russia & China agree currency swap worth over $20bn...

The central banks of China and Russia have signed a 3-year ruble-yuan currency swap deal up to $25 billion, in order to boost trade using national currencies and lessen dependence on the dollar and euro.
On Monday, China’s Central Bank announced the 150 billion yuan (815 billion ruble) currency swap between the Russian ruble and Chinese yuan. In terms of the Chinese currency that is $24.5 billion, and in Russian rubles, $20.1 billion.

Using more local currencies will speed up trade between the two countries who are aiming to reach $100 billion by 2015. Trade between Russia and China is already nearly $90 billion and is scheduled to hit $200 billion in the next six years.

Cooperation between Russian and Chinese banks is also on the rise, and China’s Import Export Bank, which is 100% state owned, has pledged to help Russian banks now cut off from Western capital markets, due to the latest round of sanctions.

The Export-Import Bank (Exim) has agreed to establish a credit line equivalent to $2 billion for Russian state bank VTB, and has also signed agreements with VEB (Vnesheconombank), and the Russian Agricultural Bank.

The credit lines can be used to finance imports from China, from agriculture to high tech equipment. (emphasis mine)

Continued - Defying the dollar Russia & China agree currency swap worth over $20bn

[Natural Citizen]

This is huge if not predictable but worth sharing none the less just to maybe help get up to speed on all things that are less accepted to be or less discussed from within context of yet actually are relative to foreign policy in a critical way. Doesn't matter if our representitives are crickets on the issue here. It doen't make it go away. And it certainly doesn't excuse incompetence on their behalf. Of course there has been speculation in many, many different areas of discussion throughout the board here. For anyone interested in the backdrop then perhaps do a forum search for International Finance Clearing, BRICS, Agriculture. Probably Russia, China, India, Spain, Argentina too. Also Non-gmo .That's going to come fast and hard down the road, the gmo thing. Perhaps even in the short term. Willl see. There are some other critical ones but these should get you started and up to speed.

Anyhoo.... China and Russia are now formally establishing an independent system/model for international financial clearing. Weve seen Domestic models placed into infrastructure already and that has been discussed here as well. I think maybe do a search for Visa or Matercard, Russia. That's probably a good start along with what I've already shared.

Ready? Lets go... Russia in Negotiation with China for alternative SWIFT Bank system

On September 10, Russia’s First Deputy Prime Minister Igor Shuvalov met in Beijing with his Chinese counterparts to discuss setting up a system of interbank international transaction clearing that would replace or could, in event of increased US and EU sanctions, replace the SWIFT interbank payment mechanism. According to Shuvalov after his talks in Beijing he stated to the press, “Yes, we have discussed and we have approved this idea.”

[Natural Citizen]

China, India launch new Asia Infrastructure Bank...

“China and other emerging economies, including BRICS, have long protested against their limited voice at other multilateral development banks, including the World Bank, International Monetary Fund and Asian Development Bank.

“China is grouped in the ‘Category II’ voting bloc at the World Bank while at the Asian Development Bank, China with a 5.5 per cent share is far outdone by America’s 15.7 per cent and Japan’s 15.6 per cent share.”

US allies Japan and Australia alongwith South Korea and Indonesia are notable absentees from the list of nations who signed up for the China-led Bank. The AIIB will extend China’s financial reach and compete not only with the World Bank, but also with the Asian Development Bank, which is heavily dominated by Japan.

Continued - China, India launch new Asia Infrastructure Bank



Aside - 16th financial services executive death this year...

Banker Suicides Return: DSK's Hedge Fund Partner Jumps From 23rd Floor Apartment

Dominique Strauss-Kahn’s Business Partner Dies, Apparently in Suicide

Actually, I think it's 17 now but tough to find reports of this stuff what with all the terrorvision being aired with ebola and ISIL and that gag. Whatever. Use your illusion here.

[Natural Citizen]

Blacklisted Bank Rossiya issues new cards using domestic payment system...

The Bank Rossiya, which came under US sanctions in March, has started issuing bank cards using Russia’s domestic “universal electronic card (PRO100)" payment system.

Cards will be sent out to clients this month. It is all part of Russia’s plan for more financial independence from international credit card firms.

Continued - Blacklisted Bank Rossiya issues new cards using domestic payment system

[Natural Citizen]

This is a big deal and it's something that has gone completely off the radar.

Commentary: An encouraging breakthrough in China-Japan rapprochement

[Natural Citizen]

I had mentioned Germany's "revelations" that they didn't have a strong military in this thread, I think. All the while, trading in weapons. That's a story in itself as we see some of these countries saying things like this in a way that really only implies that they are trying to separate themselves from NATO. Of course, we continue to see fear porn from every angle from NATO. One only has to read the forums to see the many reports from them to incite fear of violence that would only serve to keep them relevant in true Hegelian form. NATO, as we know, is quickly becoming irrelevant in the scheme of things.

Anyhoo. There is this. Take from it what you will. I'd tinker wth the notion that someone wants to balance the power against the NATO & America.

Germany Helped Prep Russia for War, U.S. Sources Say

“The world was shocked when Russian special operations forces invaded Crimea with advanced technology, drastically improved operations, and with so much operational security that even agencies in the U.S. intelligence community didn’t see it coming. In Washington, government and congressional leaders are wondering how the Russian special operations forces got so good, so fast, without anyone noticing. Some are wondering how much help Russia had from the West.

“In 2011, for example, the German defense contractor Rheinmetall signed a $140 million contract to build a combat simulation training center in Mulino, in southwest Russia, that would train 30,000 Russian combat troops per year. While the facility wasn’t officially scheduled to be completed until later this year, U.S. officials believe that Germany has been training Russian forces for years.

“Rheinmetall defended the project even after the invasion of Crimea, up until the German government finally shut it down late last month. But many tracking the issue within the U.S. government were not happy with Germany’s handling of the Russian contract, and worry that some of the training may have gone to the kind of special operations forces now operating in and around Ukraine.”

[Natural Citizen]

German foreign minister speaks out against Ukraine joining NATO...

Jeff Rathke, a spokesman for the US State Department, said that Washington supported Ukraine’s ambitions to join NATO

Germany's FM, Frank-Walter Steinmeier, has said he is against Ukraine joining NATO. In an interview with Der Spiegel, he said he considers “that it is possible for NATO to have a partnership with Ukraine, but not membership.”

He also added that he does not believe it is realistic for Ukraine to join the European Union in the foreseeable future, as the economic and political modernization of Ukraine is a “project for a few generations.”

He also urged Kiev to introduce reforms to fight corruption and mismanagement of the economy, saying they had to start immediately and that there was no time to lose.

On Friday, Jeff Rathke, a spokesman for the US State Department, said that Washington supported Ukraine’s ambitions to join NATO, but the final decision should of course be made by Kiev.

Rathke also said that lethal assistance to Ukraine was not yet “off the table.”

Continued - German foreign minister speaks out against Ukraine joining NATO

[HVACTech]

thank you for this thread.
after much reading, it appears obvious to me now.

China’s Import Export Bank, which is 100% state owned

the Chinese are now National Socialists. not Communists.
would you tend to agree?

[Natural Citizen]

thank you for this thread.
after much reading, it appears obvious to me now.



the Chinese are now National Socialists. not Communists.
would you tend to agree?

Doesn't matter to me what they are. The more relevant thing to see here are the independent mechanisms for international and domestic finance clearing that we are seeing come into fruition from a long list of nations. That is huge. This is where we see who wears the big boy pants when it comes to providing positions on foreign policy and who does not.

[Natural Citizen]

I'm pretty sure that I'm batting 1.000 with this stuff so far. There are probably like 20 threads that could use merging. Heh...


​‘BRICS system’ – healthy alternative to ‘defunct dollar system’...

Leaders representing Brazil, Russia, India, China and South Africa attend the VI BRICS Summit in Fortaleza July 15, 2014.(Reuters / Nacho Doce )

The BRICS Bank marks a major step to de-dollarization, and a new monetary system. It should replace the western-dominated “predatory casino scheme” that has contributed to world wars and “economic terrorism,” says former World Bank economist Peter Koenig.

“A ‘BRICS system’ would offer a healthy alternative to the highly indebted and defunct dollar system, where money is printed at will,”Koenig said in an interview with Asam Ismi of the Canadian Centre for Policy Alternatives.

A 'BRICS system' should be based on a new currency, which Koenig called 'Bricso.'

READ MORE: BRICS establish $100bn bank and currency pool to cut out Western dominance

“…it is high time that the currency of worldwide theft, abuse and exploitation – the US dollar – financial instrument for endless wars and economic terrorism, be replaced with a currency of peaceful endeavors that respects national sovereignty – a currency that works for the people, not for the elite few,”said Koenig adding that currently six US banks control more than 60 percent of all banking assets.

A new monetary system should replace the existing FED-BIS (Bank for International Settlement)-Wall Street “dollar denominated predatory casino scheme that has in the last 100 years alone largely contributed to – and benefitted from – two world wars, impoverished our planet, socially and environmentally,”Koenig said “This system is at the verge of a larger abyss than the depression of the 1930s."

BRICS, which is actively leading a massive effort of de-dollarization, can become a viable alternative to the Western economic system, Koenig believes.

Moreover, he thinks BRICS is already in process of replacing it. Increasing cooperation between Russia and China is a clear example – the two countries started to carry out ruble-yuan swaps in June 2014 in order to free themselves from the traditional trading currency, the US dollar.

READ MORE: Ruble-yuan settlements will cut energy sales in US dollars – Putin

Ten years ago, the world’s reserves consisted to about 90 percent of dollar denominated securities. Today that figure has shrunk to 60 percent, the economist said.

Koenig believes Washington is afraid of losing the dollar’s monopoly on the global stage, and is trying to destabilize the situation in the BRICS countries. For example, by slandering the government of Dilma Rousseff in Brazil for corruption and high debt, or depreciating the Russian ruble by fraud and currency manipulations.

“Today, though steadily declining, most trading is still denominated in dollars and has to transit through a US bank and the BIS clearing system,” he said. “Under the FED-BIS-WS banking system currencies and gold are subject to exchange rate and interest manipulations”.

The potential of BRICS is promising indeed, as the members account for almost 30 percent of world GDP and about 45 percent of the global population.

Continued - ​‘BRICS system’ – healthy alternative to ‘defunct dollar system’

[Danke]

[Natural Citizen]

But you don't have a helmet.

I forgot what I was going to post here now after watching those. Gosh. Mind block...

[Natural Citizen]

This goes here. Emphasis boldened for relevance...

Kirchner’s Nationalism Infects Argentina, Invades Outer Space

"Along with the president of 40 million Argentineans, the entire country participates in the historic launch of the ArSat-1 satellite that furthers the effort of satellite sovereignty, the commentator announced as the broadcast began."

Continued - Kirchner’s Nationalism Infects Argentina, Invades Outer Space

Relevant key words to search on RPF for other useful backdrop - "International Finance Clearing" "Space" "Brics"


*Previously - Argentina President on western system of international finance & American judicial corruption