BRICS Bank and statement by Jen Psaki
Channel "RT" reports that at the BRICS summit in Brazil, an agreement was signed on the creation of a development bank with a capital of $ 100 billion. The bank is considered to be a rival of the IMF, as well as the World Bank. One of the terrible goals of its existence is to weaken the world domination of the American dollar.
In addition, as part of his tour of Latin America, Vladimir Putin, as noted by "RT", will meet with leaders who "represent more than half of the world's population."
There have already been proposals from Latin American countries.
Venezuela supported the creation of a working alliance between the South American Bank (Banco del Sur) and the BRICS Bank. This was announced in Brazil by Venezuelan President Nicolas Maduro, reports RIA News" with reference to Noticias24.
The South American Bank, established in 2009, unites Brazil, Argentina, Bolivia, Venezuela, Paraguay and Uruguay.
“They (banks) have the same goal: building a new financial infrastructure that will contribute to economic development in conditions of equality of our countries, where they end up with speculative capital that steals our economies, and begins to promote fruitful investments,” said comrade Maduro.
According to the Venezuelan president, the BRICS summit is historic: “A powerful form of action was born, you can already see the face of a new alliance, a new world geopolitics, a new alliance, which is aimed at development and peace.”
Made and Bolivian President Evo Morales. He believes that with the advent of the BRICS Bank, the financial dependence of Latin American countries on international financial organizations will be over.
“First of all, it will be a new economic tool to end the enslavement and various conditions (from the MFIs), it seems to me that this fund can help us end up with financial speculation and economic extortion, as some powerful powers do, using their empires "- quoted Morales RIA News" with reference to the «La Segunda».
The Bolivian president also said something simpler: “During the times of neoliberalism in Bolivia, some international organizations could only blackmail us and plunder our natural resources.”
"Vesti" cite the words of Vladimir Putin and Finance Minister Anton Siluanov.
“All the plans, I want to emphasize this, all the plans that we set for ourselves a year ago have been implemented. BRICS Bank will become one of the largest multilateral financial development institutions in the world. Its stated capital amount 100 billion dollars. The scale of possible operations within the pool of foreign exchange reserves will also be able to reach 100 billions of dollars. This mechanism creates prerequisites for effective protection of our countries from crises in financial markets, ”said the President of the Russian Federation at the end of the summit.
“This is really a mini-IMF that will insure our countries against possible unforeseen capital flows both in one direction and in the other,” summed up the Minister of Finance of the Russian Federation.
Elvira Nabiullina, chairwoman of the Russian Central Bank, spoke out. She explained how the new BRICS institution will help Russia defend itself against US sanctions: “If we talk about the pool of foreign exchange reserves, it is not specifically aimed at being a special mechanism against sanctions. But, in principle, it is intended to create additional financial comfort, if it can be said so, in the event of a negative development of the scenario. ”
To this must be added some economic details.
Firstly, the BRICS Fortaleza Declaration established that a bank is being created with an initial authorized capital of 100 billion.
Secondly, installed and subscribed (distributed) capital - 50 billion dollars.
Thirdly, the New Development Bank may start operating not in the current year, and later - tentatively in 2015, or even in 2016.
Fourthly, at the first stage of activity, the capital of the BRICS bank will be only 10 billion. Their five countries will contribute within seven years. All are listed by 2 billion.
Fifthly, the sum of one hundred billion dollars will be as follows: China will contribute 41 billion, Brazil, Russia and India - according to 18 billion, and South Africa - 5 billion.
Sixth, “steer” in the bank is likely to be China. This is evident both in terms of the amount of the contribution and the fact that the Development Bank will receive its headquarters in Shanghai.
Seventh, the new bank is not at all a “closed” institution dedicated to the five BRICS countries. Other countries can join the financial institution - of those that are members of the United Nations. But, nevertheless, the share of the BRICS countries in the bank will not fall below 55%, and not a single major issue can be resolved without the will of the five “hosts”.
Finally, eighth, the amount of funds managed by the IMF is 369 billion. The new BRICS bank will have only 100 billion, but it will be created by only five countries. Therefore, experts are confident that in case of a successful launch of a bank, the BRICS countries will reach a new level. There was even talk about a global "de-dollarization".
According to Shi Jiangyun, director of the Research Institute of Economics and Management of Tongji University, which leads "People's Daily"The Bank of BRICS will become a platform for further promoting the reform of the international financial system. Today, the BRICS countries are the main borrowers of the World Bank and are increasing their investments in the IMF, but at the same time, five countries do not have voting rights that correspond to their economic power and contributions. Leading role in the World Bank and the IMF played the West.
The BRICS Bank is a favorable omen for numerous developing countries, the Chinese expert believes. He also notes that in the future the Trade and Investment Cooperation Fund and the Reserve Fund of the BRICS countries will be created. There will be “advancing calculations in national currencies in bilateral trade, stimulating the process of internationalization of the national currencies of the unification states, reducing dependence on the dollar and the euro”.
Thus, the goals of the new bank are quite understandable: from mutual assistance to reducing the dependence of those countries that the IMF does not welcome, on the dollar and the euro.
However, in the United States, according to Jen Psaki, the goals of creating the Bank of BRICS are still not understood.
Speaking at a regular briefing, the spokesperson for the US Department of State said that the United States found the objectives of the creation of a Development Bank by the BRICS countries unclear. Words psaki leads ITAR-TASS.
“There is not a lot of detail about what exactly will be the focus of this planned development bank,” Mrs. Psaki told reporters.
She did not find not only the necessary "number of details", but she did not find the "important details" that would have opened America’s eyes on the management of a new bank. Finally, psaki is “not clear” whether the Bank of BRICS will have “any kind of relationship with already existing international financial institutions”.
What to do? We must wait, according to the State Department mouthpiece. What to expect? Missing parts.
“Therefore, we will wait, see what else the details will appear,” the State Department spokeswoman summed up.
Writing down in notebooks about the "number of details", "important details", as well as the missing details, the journalists asked whether the BRICS Development Bank would affect the interests of the United States. Here the incomparable Psaki straddled her skate: "... we do not know."
“It’s difficult for us to speculate or worry about this at this particular moment, because we don’t know the goals, objectives and controls (bank),” Psaki replied with habitual wit.
Well, how are you so in Washington, add from yourself. Even about the privacy of Angela Merkel, whose phone you listened to, you know everything. The NSA also monitored Brazil’s President Dilma Rousseff’s correspondence and communication on the Internet. But Brazil - a member of the BRICS, the letter "B".
However, if you look at it from the other side, Washington’s ignorance becomes clear. The BRICS includes China, and this same state will become the main “capitalist” in the Development Bank, whose headquarters will soon open in Shanghai. Behind the Chinese screen, the owner of the Oval Office will not see anything, and even more so will Jennifer Psaki not see anything there. One fine morning, US Finance Minister J. Lew will simply show Barack Obama a red bill with Xi Jinping's face and say with sadness in his voice that the yuan has become the key world currency, and the Republic of Texas has applied for participation in BRICS.
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