Leaders of the five BRICS nations plan to create a development bank in a direct challenge to the World Bank that they accuse of Western bias. The bank would use $50 billion of seed capital shared equally between Brazil, Russia, India, China and South Africa but would undoubtedly be dominated by China. It would be the first institution of the informal forum started in 2009 amid the economic meltdown to chart a new and more equitable world economic order.
Comments: A UK paper - maybe The Guardian - said that South Africa is actually more of a briquette. Not in the same class with the other four in many ways.
I know nothing about international banking, so if my take on this is wrong I hope another poster will correct me. This could be the first step to unseat the dollar as the worlds currency! If that happens any and all efforts to increase the (US) debt limit becomes mute as we are only able to do so as long as we are the world´s currency.
Re #1´s point: You´d better believe it. After Nixon severed the last tie between the USD and gold in 1971, the eventual fate of our currency was inevitable, although that denouement hasn´t yet played out completely.
When the USD loses its status as the international reserve currency--another will take its place, perhaps the one worldwide currency of prophesy--the Fed will no longer be able to print money willy nilly, monetizing the national debt, inflating it away. Interest rates will skyrocket--no more quantitative easing--and a large chunk of the federal budget that now goes to transfer payments will have to be applied to interest on the national debt.
Or else our genius politicians will just decide to default on the debt; besides, it´s funny money, too huge for the next several generations to pay off anyway. The days of bread and circuses will be over with Old Testament finality, and the American standard of living will be cut in half virtually overnight, much to the delight of most of the rest of the world. Before that black day happens, citizens who can afford it will renounce their American citizenship and move away permanently to places where the governments aren´t all powerful and all-foolish.
Woodrow Wilson taxied this winged economic monstrosity onto the runway, Hoover and FDR got it airborne, LBJ took it higher while Republicans rode along not making a sound, and finally Obama pointed it toward the ground and yanked the throttle to full power. There is going to be quite a wreckage: the biggest economic crash in world history. It will destroy America.
Here It Comes, Folks! This is the Alliance of Nations Against the NWO crowd! Ever since the NWO commie/marxists partnered with The Muslim Brotherhood to run Africa for them, BRIC was formed to block them. And there are many more small nations in this alliance.
The UK is smart enough to stay out of the fray... but Obama has the US deeply tied to the NWO...
In WW3.... Who will have the advantage? If Obama keeps attacking Putin pal Syria, we´ll find out sooner rather than later.
Good! The IMF and World Bank have destroyed enough countries and lives. This weeks example is Cyprus. Who is next?
Yes, unfortunately the US dollar will lose the dominance it has enjoyed. This has much more to do with the demise of petro-dollars as more and more nations (BRICS included) trade oil contracts in a currency other than the $US. This is being done today.
We have too much debt, we have a FED that is entirely secret and controls too much power, and we have policies that are destroying this country. But hey, lets concentrate our attention and energies on a more important issue; the constitutionality of gay marriage.
Nairobi, Kenya -- Sixty-eight dead. At least 175 injured. About 30 hostages still inside, as well as perhaps a dozen gunmen. Those are the grim numbers, more than a day after Islamist attackers stormed an upscale Nairobi mall on Saturday, spraying bullets and holding shoppers captive. The tense standoff continued into Sunday night, with sporadic gunfire heard through the day and at least one explosion. Kenya´s President Uhuru Kenyatta told reporters Sunday afternoon the Kenyan people had showed resiliency as a nation and would triumph against the attackers. The tragedy was also personal for
The suits who run the Emmys had to make a hard choice in deciding which dead actor to honor-- a TV icon who has won multiple Emmys, or a young actor with no Emmys who is now as famous for being a drug addict as a TV star. They chose door number 2. It´s interesting. We´ve spoken with several people who have won Emmys who are upset with the decision to give a special honor to Cory Monteith but not Jack Klugman, and they´re all too scared to speak out ... for fear of some sort of retaliation. Jack Klugman
NAIROBI — Kenyan troops are locked in a fierce firefight with Somali militants inside an up-market Nairobi shopping mall on Sunday, in a final push to end a siege that has left at least 50 dead and 200 wounded with an unknown number of hostages still being held. Heavy gunfire could be heard as Kenyan security officials said they were attempting to kill or capture the remaining attackers and end to the 22-hour-long bloodbath at the Westgate mall. Somalia’s al-Qaeda-inspired Shebab rebels said the carnage at the part Israeli-owned complex mall was in retaliation for Kenya’s military intervention in Somalia, where African
ISLAMABAD, Pakistan — Pakistan’s security forces released a top-ranking Taliban prisoner Saturday in an effort to expedite the peace process in neighboring Afghanistan. Abdul Ghani Baradar, who was arrested in 2010 during a raid by the CIA and Pakistani intelligence services, was freed shortly before noon under orders from Pakistani Prime Minister Nawaz Sharif. (Snip)Baradar was considered the second-ranking Taliban leader when he was captured in the secret operation, designed by U.S. officials to gather intelligence about the Taliban network. He is believed to have played a key role in organizing resistance after the U.S. invasion of Afghanistan in 2001
At least 30 people were reported dead and 60 wounded, including foreigners, after gunmen stormed an upscale mall in the Kenyan capital Nairobi, says the country’s Red Cross. Witnesses said the attackers ordered all Muslims to leave the premises, as only non-Muslims would be targeted. "The casualties are many, and that´s only what we have on the outside. Inside there are even more casualties and shooting is still going on," Kenya Red Cross Society Secretary General Abbas Guled said. A police officer inside the shopping center said the gunmen had barricaded themselves into the Nakumatt supermarket. "We have reports of American citizens injured
NAIROBI, Kenya — An upscale mall popular with the Kenyan elite and the foreign diplomats and businesspeople who call Nairobi home turned into a war zone on Saturday, as gunmen opened fire on shoppers in an apparent terrorist attack, killing at least 20 people and wounding dozens more. At nightfall, the mall remained sealed off to the public as police officers and soldiers searched floor by floor for the gunmen, who were still believed to be inside with hostages. Witnesses described hearing explosions and gunfire as they fled, leaving behind blood, broken glass and carnage in what was apparently one of
At least 26 people have been killed or sucumbed to injuries following the shooting at the Westgate Shopping mall in Nairobi´s Westlands area. This is according to the Kenya Red Cross service that provided emergency response services. Red Cross also say that a further 50 people have been admitted to various hospitals with injuries ranging from gunshot wounds to fractures and cuts. The hospitals receiving patients are Aga Khan, MP Shah, Nairobi Hospital and the Kenyatta National Hospital. A combined contingent of the General Service Unit, the Kenya Defence Forces among other security agencies are currently conducting an evacuation exercise at the
A well-organised “terror gang” is believed to be behind an armed assault on a Nairobi shopping mall, senior police sources told AFP, adding they had also detained one wounded suspect. “This cannot be a normal robbery because all the survivors are saying how the group confronted them and opened fire,” a senior police official told AFP on condition he remained anonymous. “We have reports there were up to 10 or so attackers and they appeared to be wearing a similar outfit, and others covered their faces,” another police official said. “The pattern of the attack and the way they were speaking to their
Gunmen attacked an upscale shopping mall in the Kenyan capital on Saturday, leading to a fierce gunbattle with police and leaving dozens of casualties. The Kenyan Red Cross reported 20 dead, though a government official, Joseph Ole Lenku, only confirmed 11. Fifty more people were wounded in the attack at the mall in Nairobi, said Abbas Gullet, head of the Kenyan Red Cross. A security agent told CNN´s Lillian Leposo at the scene that the violence was a terrorist attack, but officials had yet to confirm that information, Leposo told CNN.
PRINCETON, NJ -- Americans´ trust and confidence in the federal government´s ability to handle international problems has reached an all-time low, with 49% saying they have a great deal or a fair amount of confidence, two percentage points below the previous low of 51% recorded in 2007.(Snip for graphic)These new data come from Gallup´s annual Governance survey, conducted Sept. 5-8, 2013, while Congress was debating the use of military force in Syria, but prior to President Barack Obama´s nationally televised address on Syria, and Russia´s proposal to avert U.S. military action. Between 57% and 66% of Americans said they had
A Transportation Security Administration (TSA) agent was arrested Friday for conspiring to smuggle illegal aliens into the country. Immigrations and Customs Enforcement officers arrested David Alexander Díaz-Torres in Orlando, Fla., according to the Justice Department. Díaz-Torres and five others were charged in a 13-count indictment for bringing, transporting, harboring, and shielding illegal aliens within the United States. According to a Justice Department press release, a group of Brazilian nationals were smuggled through the Luis Muñoz Marín International Airport in San Juan, Puerto Rico.
A photo of Texas A&M quarterback Johnny Manziel signing for South Florida autograph broker Drew Tieman in early January has been obtained by ESPN. It is the first visual representation of Manziel signing for Tieman. In the photo, which two sources have confirmed as legitimate, Manziel, in a long-sleeve maroon shirt, is standing over a covered pool table signing photos of his image while Tieman oversees the process. The photo, according to sources, was taken in the Fort Lauderdale apartment in which Tieman was living at the time.
Speaking at the annual Congressional Black Caucus dinner, President Obama excoriated congressional Republicans Saturday night for risking a government shutdown, and vowed to stop their efforts to defund his health-care plan. “It is time for these folks to stop governing by crisis,” Mr. Obama said at the Washington Convention Center. “Some want to shut down the government rather than provide people with health care!” Referring to Republicans’ strategy to defund Obamacare, the president said he wanted to speak “as clearly as I can.” “It’s not going to happen,” he said. The administration and congressional Republicans are on a collision course over a
WASHINGTON— President Barack Obama on Sunday memorialized the victims of the Washington Navy Yard shooting by urging Americans not to give up on a transformation in gun laws that he argued are to blame for an epidemic of violence. "There is nothing inevitable about it — it comes about because of decisions we make or fail to make," Obama said. Reprising his role of the nation´s consoler in chief after yet another mass shooting, Obama issued a call to action on gun control measures (Snip) "Our tears are not enough," Obama told thousands gathered to mourn at the Marine Barracks.
As the 50th anniversary of the JFK assassination approaches, so does the merchandising onslaught — books, movies, commemorative magazines. But there is one aspect of this commercialism that remains surprising: The most shameless huckster of Kennedy mythology and memorabilia is Caroline Kennedy Schlossberg. Her public image is that of the classy, quiet keeper of the Kennedy legacy, the civic-minded former lawyer who publishes books on poetry while her cousins crash into trees and kick nurses. With the bar for Kennedy comportment set so low, it’s almost impossible for Caroline not to look good. Look closer, though, and it’s clear that Caroline’s image is
In recent columns in the mainstream press, columnists have been distorting gleefully the Pope´s recent statements to make it appear he´s the liberal that will bring the Catholic Church in line with their own agenda. In actuality, Pope Francis is no more likely to approve gay marriage or homosexual activity than any other pope. If the media were less agenda-driven, they would be trying to debunk a miracle that defies explanation and which involves Pope Francis when he was a bishop in Argentina in 1996.
At least 23 people have been shot, five of them fatally, in Chicago since Friday, police said. The weekend violence began just one day after 13 people were injured in a Chicago park. The victims from Thursday´s shooting included 10 males and three females, including 3-year-old Deonta Howard -- known as "Tay-man" -- who was shot in the jaw and listed in critical condition. Chicago Police Superintendent Garry McCarthy said an assault style rifle with a high capacity magazine was used in the park shooting. McCarthy added that based on witness interviews, the attack appears to be gang-related, as several
On Sunday, Chris Wallace, the host of Fox News Sunday, said that Republicans in Washington were savaging Sen. Ted Cruz (R-TX) behind Cruz´s back before Cruz´s appearance on the program to discuss defunding Obamacare. In an appearance on Washington D.C.´s Fox 5 to preview his Sunday show, Wallace said, "I will tell you I have never in my time in Washington seen a party so upset with one of its own members." He said he had been flooded with opposition research on Cruz--from Republicans. Later on Fox News Sunday, Wallace said these "top Republicans" gave
Washington - House Democratic Leader Nancy Pelosi continued to offer effusive praise for Hillary Clinton, saying the former secretary of state would be one of the best-prepared incoming presidents if she decided to run in 2016. "If she does, she will win and when she becomes president, she´ll be one of the best-equipped, best-prepared people to enter the White House in a very long time," Pelosi said in an interview that aired Sunday on CNN´s "State of the Union." Noting Clinton´s experience as secretary of state, as a U.S. senator from New York and as a first lady, Pelosi said Clinton would
Last week, Starbucks asked its American customers to please not bring their guns into the coffee shop. This is part of the company´s concern about customer safety and follows a ban in the summer on smoking within 25 feet of a coffee shop entrance and an earlier ruling about scalding hot coffee. After the celebrated Liebeck v McDonald´s case in 1994, involving a woman who suffered third-degree burns to her thighs, Starbucks complies with the Specialty Coffee Association of America´s recommendation that drinks should be served at a maximum temperature of 82C. Although it was brave of Howard Schultz, the company´s
Arguing federal workers should not get special treatment, Rand Paul says he does not want taxpayers subsidizing the personal health care plans of any federal employee — including Chief Justice John Roberts — anymore. With some in Congress arguing lawmakers and their staff should not get subsidies to cover their health insurance as President Obama’s health care law goes into effect, the Republican senator from Kentucky told The Daily Caller on Sunday that he’s going to start pushing a constitutional amendment that goes even further. Paul’s proposal — outlawing any special exemptions for government employees — would mean all federal
It´s hard for Ted Cruz to be humble. Part of the challenge stems from his résumé, which the Texas senator wears like a sandwich board. There´s the Princeton class ring that´s always on his right hand and the crimson gown that, as a graduate of Harvard Law School, he donned when called upon to give a commencement speech earlier this year. (Cruz´s fellow Harvard Law alums Barack Obama and Mitt Romney typically perform their graduation duties in whatever robes they´re given.) Even Cruz´s favorite footwear, a pair of black ostrich-skin cowboy boots, serves as an advertisement for his credentials and
Al Qaeda’s affiliate in Somalia has suffered major setbacks in that country in the last year and a half. Saturday’s horrific attack on an upscale shopping mall in Nairobi, Kenya shows al-Shabaab is not only alive but is capable of sowing mayhem outside the borders of the country it has fought over for nearly a decade. The military-style assault Saturday at the Westlake Shopping mall in Nairobi was the first major al-Shabaab attack outside of Somalia since 2010 when the group set off bombs at multiple locations in Kampala, Uganda, killing more than 70 people who had gathered to watch the
This past week President Obama mockingly said that America is “not some banana republic.” As usual, he lied. A father in Towson, Maryland, was forcefully ejected from a local town hall forum for asking the wrong question. Robert Small had concerns over the Common Core education initiative, feeling that it was dumbing down the curriculum in his local school district. “My question is, how does lowering America’s educational standards prepare kids for community college?” asked Small, before soon being approached by a security guard — who was also an off-duty cop — and being dragged away from his seat. The