Posted on 06/17/2009 3:41:47 PM PDT by FromLori
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.
Their final communiqué said it "is very necessary to have a stable, predictable and more diversified currency system," and that the leaders were "committed to advance the reform of international financial institutions, so as to reflect changes in the world economy."
Medvedev earlier reaffirmed his doubts about the future of the US dollar as the world's standard reserve currency and called for a major shift in attitude worldwide. "The current set of reserve currencies and the main reserve currency -- the US dollar -- have not managed to perform their functions," he said.
China has backed Russia's moves for a revamp of the global financial system, saying there is a need for a new supra-national currency besides the dollar to prevent a repeat of the global economic crisis. Medvedev's chief economic aide, Arkady Dvorkovich, said Russia could consider investing its reserves not only in the United States and European countries but also in the financial instruments traded by BRIC states. But he also emphasized that Moscow did not want to see a sudden plunge in the dollar's value.
"There is an understanding that the last thing we need now is turmoil on financial markets," Dvorkovich said. "No one wants to ruin the dollar, including us." He also suggested the International Monetary Fund (IMF) should revise the basket of currencies used to value its financial products to include the Russian Ruble and the Chinese Yuan.
The BRIC states also called for sweeping changes to the United Nations to give a bigger role to Brazil and India. The four BRIC nations represent about 40% of the world's population and 15% of its GDP.
BRICK hmmmm maybe just the Obammma, in demoninations of one only.
They’ve been pushing this for a while, and have had their supporters posting “bad news” about the US economy right here on FR for some time.
First it was the Shanghai Cooperation Organization, and now this. It is like watching Revelations unfold. Maybe not the culmination, but the foundation. I will have to revisit The Bible to see how this fits in. It’s just a coincidence, move along...
Where do "they" send their secret orders from? Do you have a list of conspirators here? Whooooo! Booo!!
Little did perspicaceous bon vivant Travis Mc Gee know, but some 10,000 KGB agents (of varying levels)remained in the United States after the collapse of the Soviet Union.
While Travis was tooling through the Florida Panhandle in his iconic Cadillac pickup truck,a number of the former KGB members switched allegiance to the SVR.Others,of course set up as "Russian Mafia" - here and abroad.
My source is The Mitrokhin Archive II.
No, I don't remember the name of Travis' pickup truck, but think it might have been "Miss Agnes".
Just so you know, Iran, Venezuela, Nicaragua, the Russian friendly parts of the “Former” Soviet Union, Cuba, North Korea, Iran, Vietnam, OPEC, and other despotic regimes back this too.
Just so you know, the Russian “Mafia” is controlled by Russian intelligence agencies and is used as a conduit for sending cash and intel without implicating the SVR or the GRU.
Also used for a bit of fund raising, da ?
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