Keyword: bric

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  • Putin Declares War Against The US Dollar

    09/01/2017 12:14:27 PM PDT · by Lorianne · 43 replies
    Tsarizm ^ | 01 September 2017 | L Todd Wood
    Today Russian President Vladimir Putin declared war against the hegemony of the U.S. Dollar. Of course, he couched the declaration in a statement saying Russia would work to counter the ‘excessive domination’ of certain reserver currencies. The comments were published in an article in the runup to the BRICs summit scheduled to begin Sept 3 in China. “We are ready to work together with our partners to promote international financial regulation reforms and to overcome the excessive domination of the limited number of reserve currencies. We will also work towards a more balanced distribution of quotas and voting shares within...
  • Brazil reduced to junk status as BRICs facade crumbles

    09/13/2015 6:25:47 AM PDT · by dennisw · 10 replies ^ | 8:28PM BST 10 Sep 2015 | By Ambrose Evans-Pritchard
    Dilma Rousseff has squandered Brazil's commodity boom, but the country is not in meltdown and is unlikely to set off an emerging market crash Brazil’s currency plummeted to all-time lows and borrowing costs have tightened viciously after Standard & Poor’s slashed the country’s debt to junk status, warning that the budget deficit has reached danger levels. The downgrade is a painful blow to a nation that thought it had finally escaped the Latin American curse of boom-bust cycles and joined the top league of rich economies. It is the second of the big emerging market economies to be stripped of...
  • The Economic Endgame Explained

    11/12/2014 9:31:54 AM PST · by Jack Hydrazine · 18 replies ^ | 11NOV2014 | Brandon Smith
    Throughout history, in most cases of economic collapse the societies in question believed they were financially invincible just before their disastrous fall. Rarely does anyone see the edge of the cliff or even the bottom of the abyss before it has swallowed a nation whole. This lack of foresight, however, is usually not the fault of the public. It is, rather, a consequence caused by the manipulation of the fundamental information available to the public by governments and social gatekeepers. In the years leading up to the Great Depression, numerous mainstream “experts” and politicians were quick to discount the idea...
  • Brazil overtakes UK as sixth-largest economy

    12/26/2011 11:17:22 PM PST · by MinorityRepublican · 18 replies
    The Guardian ^ | Sunday 25 December 2011 | Phillip Inman
    Brazil's economy is now bigger than the UK's, say economists, booming on the back of exports to China. Brazil has overtaken the UK to become the world's sixth-largest economy, according to a team of economists. The banking crash of 2008 and the subsequent recession has relegated the UK to seventh place in 2011, behind South America's largest economy, which has boomed on the back of exports to China and the far east. Russia and India are expected to benefit from a surge in growth over the next 10 years and push the UK into eighth place. Like most economies, India...
  • In BRIC Commentary on Osama Death: Putin Called First & India Slams Pakistan

    05/03/2011 3:19:21 AM PDT · by vertolet888 · 10 replies
    Forbes ^ | May. 3 2011 | Kenneth Rapoza
    It was known already that the death of Osama bin Laden would be the biggest news item in the world whenever it happened. It happened on May 1. On May 2, here’s what the opinion pages of the biggest and most influential emerging markets had to say about it. In Russia’s Moscow Times, a Foreign Ministry spokesman was quoted as saying that Vladimir Putin was informed of the raid and subsequent death of Osama bin Laden before President Barack Obama went public at 23:35 eastern standard time. “The Kremlin welcomes the serious success achieved by the United States in the...
  • Say "Goodbye" to the Dollar

    04/15/2011 5:47:32 AM PDT · by JRNyquist · 52 replies · 1+ views ^ | april 15, 2011 | Jeff Nyquist
    .. inadequacies and deficiencies of the existing international monetary and financial system.. In 1998 Russian Foreign Minister Yevgeny Primakov, a strategist and master spy, conceived of an economic alliance between Russia, India and China. The purpose of this combination was to counter the international influence of the United States. By now it should be apparent that Russia and China intend to launch an attack against the U.S. dollar. Do we yet realize that such an attack is possible? And have we reckoned the political consequences?
  • BRIC Reds: “International Financial System Must Be Reformed”

    04/14/2011 4:20:13 PM PDT · by Nachum · 2 replies ^ | 4/14/11 | Trevor Loudon
    Of the five countries listed below, four, Brazil, South Africa, Russia and China are led by current, or former communists – in the case of Brazil’s Dilma Rousseff and South Africa’s Jacob Zuma, former communist terrorists. From Cuba’s Prensa Latina. Beijing, Apr. 14 China repeated its call for reform of the international financial and monetary system, with better representation of emerging economies and developing countries. Fair, inclusive, and well-managed systems must be established to support global economic development, President Hu Jintao sid during a summit meeting of the BRICS bloc in Sanya, on the southern island of Hainan. The meeting...
  • Brazil stares down the US on Libya

    04/02/2011 2:50:12 PM PDT · by SunkenCiv · 18 replies
    Al Jazeera ^ | Wednesday, March 30, 2011 | Greg Grandin
    The bad blood started, or so the story went, when Lula refused to listen to the administration of George W. Bush and isolate Venezuela's populist leader, Hugo Chávez. Before long, Brasilia was opposing or, worse, offering alternatives to Washington's position on a growing number of issues: climate change, opposition to the 2009 coup in Honduras, Cuba, trade and tariffs. Lula declined to criticise Iran and opened up a separate negotiating channel, outside of Washington's influence and much to its annoyance, with Tehran to discuss Iran's nuclear ambitions. The former Brazilian president also welcomed the president of the Palestinian National Authority,...
  • Paulson claims Russia tried to foment Fannie-Freddie crisis

    01/29/2010 4:06:54 PM PST · by lwd · 30 replies · 1,289+ views
    Financial Times ^ | Published: January 29 2010 21:06 | By Krishna Guha in Washington
    Russia proposed to China that the two nations should sell Fannie Mae and Freddie Mac bonds in 2008 to force the US government to bail out the giant mortgage-finance companies, former US Treasury secretary Hank Paulson has claimed. The allegation is in his memoir On the Brink in which he also suggests that Alistair Darling, the UK chancellor, blocked a rescue takeover of Lehman Brothers by Barclays Bank when he refused to support special treatment by UK regulators. “Russian officials had made a top-level approach to the Chinese, suggesting that together they might sell big chunks of their GSE holdings...

    11/03/2009 1:23:40 AM PST · by Cindy · 35 replies · 2,706+ views - INTERNATIONAL NEWS ANALYSIS TODAY ^ | November 3, 2009 | Toby Westerman
    SNIPPET: "Lula and Chavez have established a "strategic relationship," and recently agreed upon a joint Brazilian-Venezuelan oil venture worth billions of dollars. Lula and Chavez have joined with Daniel Ortega, the returned Nicaraguan Marxist dictator, to form an anti-U.S. Latin American military alliance - all with Russian assistance - funded by the region's abundant oil reserves. Brazil is engaged in its own arms build-up and Lula is determined that Brazil will become at least a first-rate regional power. Unfortunately, Lula is establishing Brazil as an anti-American military power by aligning with nations hostile or potentially hostile to the U.S. Lula...
  • Sarkozy calls for talks on dollar

    07/10/2009 11:18:27 AM PDT · by MyTwoCopperCoins · 14 replies · 1,870+ views
    Business Week ^ | July 9, 2009, 4:56PM ET | Business Week
    French President Nicolas Sarkozy called for a revamp of the global currency system, saying Thursday that the dollar's supremacy is outdated. "We need to ask the question: shouldn't a world that is politically multi-polar correspond to a multi-monetary world economically?" he said in a news conference during a summit of world leaders in L'Aquila, Italy. Sarkozy compared an overhaul of the global currency system to the enlargement of the Group of Eight structure to encompass fast-growing emerging economies, which were invited to join the Italian summit. He said the supremacy of the dollar belongs to the post-Second World War era...
  • India the Latest to Stone the Dollar

    07/10/2009 11:06:38 AM PDT · by mojitojoe · 23 replies · 763+ views
    Money News ^ | 7/9/2009 | Sean Hyman
    In the past several weeks, three of the four BRIC nations — Brazil, Russia, and China —have expressed doubt over the dollar’s reserve status and expressed worries over the U.S. debt. India had been the only BRIC nation that had remained silent on the dollar issue, but that’s changed. I wasn’t sure if India was going to hop on the bandwagon or not. However, they recently started singing with the rest of the BRIC choir in a chorus against the U.S. dollar. In fact, on July 6, both Russia and India collectively said that the world economy is too reliant...
  • US predominance is unlikely to fade away (Comment on BRIC)

    06/19/2009 8:45:28 AM PDT · by Cronos · 3 replies · 403+ views
    The Economic Times of India ^ | 19 Jun 2009 | Vikram Sood
    The US spent more than $607 billion on defence in 2008 according to SIPRI statistics and this constitutes 41% of global expenditure on defence. This far exceeds what the next nine countries spent during the same year. The Chinese spent $85 billion, the Russians $59 billion and the Indians $30 billion. The Brazilians, the fourth member of the newly founded BRIC, spent even less. There are others who calculate that the US spends far more than this in its endeavour to maintain global primacy. America maintains about 750 military and intelligence bases world-wide and its intelligence budget exceeds India’s defence...
  • Bric in search of elusive common cause (Brazil, Russia, India & China)

    06/18/2009 7:23:13 PM PDT · by lilylangtree · 3 replies · 486+ views
    Timesonline ^ | 6-18-2009 | Bronwen Maddox
    NO wonder that Russia was so keen to host the summit of the Bric countries, the giants of the developing world. Brazil, China, India and Russia are a would-be club in search of a common cause. Out of the four, it is Russia which is the weakest - and which has the most to gain from the others' solidarity. Brazil's President Luiz Inacio Lula da Silva, left, Russian President Dmitry Medvedev, Chinese President Hu Jintao and Indian Prime Minister Manmohan Singh line up for a group photo at the first Bric summit Picture: Reuters We can credit Goldman Sachs, not...
  • Time for 'NEW WORLD ORDER': Brazilian President...

    06/18/2009 9:49:21 AM PDT · by TaraP · 13 replies · 437+ views
    Breibart ^ | June 17th, 2009
    The global financial crisis has reduced the differences between nations and created the opportunity to form a new world order, Brazilian President Luiz Inacio Lula da Silva said Wednesday. Speaking after a meeting with Kazakhstan's President Nursultan Nazarbayev in the Kazakh capital Astana, Lula called on the global community to seize on the crisis to create a fairer world for developing nations.... "I want to say that before the crisis, there were many countries which had greater significance than others, and some countries which had no significance at all," he said through a translator. "After the crisis, everyone has become...
  • Dollar BRICbats

    06/17/2009 6:23:15 PM PDT · by Kaslin · 2 replies · 751+ views
    IBD Editorials ^ | June 17, 2009 | INVESTORS BUSINESS DAILY
    Globalism: Four emerging economies met in Russia Tuesday to seek an alternative to the dollar. It's futile. But it shows how Washington's spending binge harms the world's prospects.The Bush administration took a lot of flack for its supposed "unilateralism" in global affairs. But there's a new breed of go-it-alone "unilateralism" in the unrestrained U.S. fiscal spending that's causing trading partners to worry about the value of their dollar assets. It's hitting Brazil, Russia, India and China in the pocketbook as they fret about the value of their $2.8 trillion in dollar holdings, about 42% of the world's total. So it's...
  • BRIC leaders call for a “more diversified” currency system

    06/17/2009 3:41:47 PM PDT · by FromLori · 8 replies · 460+ views
    Merco Press ^ | 6/17/09
    The leaders of Brazil, Russia, India and China—the BRIC nations—called for a “more diversified” currency system and a new global order after holding their first summit amid growing talk over the US dollar future as the global reserve unit. Russian President Dmitry Medvedev hailed the meeting in Russia's Ural city of Yekaterinburg as "historic" and said it had met the expectations of his colleagues. "The summit must create the conditions for a fairer world order" he added in a final statement read out alongside Presidents Hu Jintao of China, Lula da Silva of Brazil and Indian Prime Minister Manmohan Singh....
  • BRICs Launch Assault on Dollar's Global Status

    06/13/2009 6:16:43 AM PDT · by TigerLikesRooster · 25 replies · 716+ views
    Chosun Ilbo ^ | 06/12/09
    BRICs Launch Assault on Dollar's Global Status Brazil, Russia, India and China, sometimes lumped together as BRIC to represent fast-growing developing economies, are selling off their U.S. Treasury Bond holdings. Russia announced earlier this month it will sell U.S. Treasury Bonds, while China and Brazil have announced plans to cut the amount of U.S. Treasury Bonds in their foreign currency reserves and buy bonds issued by the International Monetary Fund instead. The BRICs are also soliciting public support for a "super currency" capable of replacing what they see as the ailing U.S. dollar. The four countries account for 22 percent...
  • Financials may lead market rebound in 2009 (from BRIC to ICK?)

    12/31/2008 7:04:41 AM PST · by TigerLikesRooster · 25 replies · 935+ views
    SmartBrief ^ | 12/31/08
    Financials may lead market rebound in 2009 SIFMA Global SmartBrief | 12/31/2008 After a tumultuous 2008, the financial sector may be one of the leaders of a market rebound in 2009. The recovery might not be a rapid one, with a slight shift in focus among emerging markets, from BRIC to ICK countries. "Emerging markets like Brazil, Russia, India and China, or the BRIC nations, have tanked amid the global-asset sell-off," according to the Wall Street Journal. "As 2009 begins, emerging-market countries sporting the best earnings growth compared with current price are India, China and Korea, or the ICK countries."...
  • Commentary: BRIC is broke, and emerging markets are discouraging

    09/18/2008 4:20:42 AM PDT · by TigerLikesRooster · 7 replies · 158+ views
    Market Watch ^ | 09/17/08 | John Prestbo
    Commentary: BRIC is broke, and emerging markets are discouraging By John Prestbo Last update: 7:29 p.m. EDT Sept. 17, 2008 NEW YORK (MarketWatch) -- Many investors turned to emerging markets last year because those economies kept sizzling even as developed economies began cooling. Some pundits opined that emerging markets were the new global growth engine and that their momentum could save developed economies from sliding into recession. Indeed, that view held up for a while. In 2007, the Dow Jones Wilshire Emerging Markets Index rocketed up 45.4% on a total-return basis, while the DJ Wilshire Developed Markets Index gained 9.5%....