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Brazil , Russia , India , China and South Africa - the BRICS group of fastest growing economies - Thursday [ 14 April 2011 ] signed an agreement to us

 
Anonymous Coward
User ID: 1261621
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04/16/2011 03:50 AM
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Brazil , Russia , India , China and South Africa - the BRICS group of fastest growing economies - Thursday [ 14 April 2011 ] signed an agreement to us
articles.economictimes.indiatimes.com/2011-04-14/news/2941758​3_1_economies-food-security-local-currencies

SANYA: Brazil , Russia , India, China and
South Africa - the BRICS group of
fastest growing economies - Thursday
signed an agreement to use their own
currencies instead of the predominant
US dollar in issuing credit or grants to
each other .
The agreement , the first-of-its -kind,
was signed at the 3 rd BRICS summit
here attended by Indian Prime
Minister Manmohan Singh, China 's Hu
Jintao, Brazil ' s Dilma Rousseff ,
Russia's Dmitry Medvedev and South
Africa's Jacob Zuma.
"Our designated banks have signed a
framework agreement on financial
cooperation which envisages grant of
credit in local currencies and
cooperation in capital markets and
other financial services," Manmohan
Singh told reporters at a news
conference with other BRICS leaders .
But the agreement is confined to
credit and not trade. BRICS
economies hold 40 percent of the
world's currency reserves, the
majority of which is still in US dollars.
The BRICS summit is being held in the
coastal city of Sanya in China's Hainan
island.
The joint presser was held after the
leaders held deliberations on the
international situation , and financial,
development, climate and security
issues.
Anonymous Coward
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04/16/2011 04:12 AM
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Re: Brazil , Russia , India , China and South Africa - the BRICS group of fastest growing economies - Thursday [ 14 April 2011 ] signed an agreement to us
Do you have a link for this story?I hope this is not true.
T. Wills
User ID: 1305865
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04/16/2011 04:16 AM
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Re: Brazil , Russia , India , China and South Africa - the BRICS group of fastest growing economies - Thursday [ 14 April 2011 ] signed an agreement to us
bump
Anonymous Coward
User ID: 1344033
Malaysia
04/16/2011 04:20 AM
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Re: Brazil , Russia , India , China and South Africa - the BRICS group of fastest growing economies - Thursday [ 14 April 2011 ] signed an agreement to us
Do you have a link for this story?I hope this is not true
 Quoting: Anonymous Coward 1344150




It's true.

[link to www.telegraphindia.com]
Anonymous Coward
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Malaysia
04/16/2011 04:21 AM
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Re: Brazil , Russia , India , China and South Africa - the BRICS group of fastest growing economies - Thursday [ 14 April 2011 ] signed an agreement to us
 Quoting: T. Wills 1305865


[link to www.chandlerswatch.com]
Anonymous Coward
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04/16/2011 04:26 AM
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Re: Brazil , Russia , India , China and South Africa - the BRICS group of fastest growing economies - Thursday [ 14 April 2011 ] signed an agreement to us
nice find op, this needs to be pinned!!!!
Anonymous Coward
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Malaysia
04/16/2011 04:30 AM
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Re: Brazil , Russia , India , China and South Africa - the BRICS group of fastest growing economies - Thursday [ 14 April 2011 ] signed an agreement to us
At the end, Russia will pwn the US.
Anonymous Coward
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New Zealand
04/16/2011 05:21 AM
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Re: Brazil , Russia , India , China and South Africa - the BRICS group of fastest growing economies - Thursday [ 14 April 2011 ] signed an agreement to us
bump
Anonymous Coward
User ID: 1253062
Iceland
04/16/2011 05:31 AM
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Re: Brazil , Russia , India , China and South Africa - the BRICS group of fastest growing economies - Thursday [ 14 April 2011 ] signed an agreement to us
Brazil and India also pressed China to
buy such goods as Brazilian aircraft
and Indian pharmaceuticals; the two
states also complained about the
artificially undervalued yuan that they
claimed was undermining their
exports. South Africa wanted to
process iron ore and other raw
materials within the country before
exporting them to China .[2 ] However,
at the heads of government summit
China' s currency valuation was not on
the agenda. [3 ]
All five states also continued their calls
for reform of global monetary and
financial institutions . They also
pledged greater cooperation amongst
themselves. [4 ]
International law
All five countries also called for an
early conclusion to deadlocked talks
an anti-terror law under UN auspices
that would curtail funding for illegal
groups that partake in violence against
states and deny their supporters
access to funds, arms , and safe
havens . A joint statement read : " We
reiterate our strong condemnation of
terrorism in all its forms and
manifestations and stress that there
can be no justification, whatsoever,
for any acts of terrorism. In this
context, we urge early conclusion of
negotiations in the UN General
Assembly of the Comprehensive
Convention on International
Terrorism and its adoption by all
member states. " The heads of
government at the summit said that
the UN 's role was central in
coordinating international action
against what they labeled terrorism
within the framework of the UN
Charter and in accordance with
principles and norms of international
law . [5 ]
United Nations Security Council
reform
All BRICS countries called for
" comprehensive reform of the UN ,
including its Security Council." China
said it would endorse the aspirations
of India , Brazil and South Africa for
permanent membership of the UNSC.
[ 6]
Libyan conflict
The leaders of BRICS states expressed
misgivings about NATO air strikes and
urged an end to the two- month
conflict in Libya .[7

Wikipedia
Anonymous Coward
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04/16/2011 05:40 AM
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Re: Brazil , Russia , India , China and South Africa - the BRICS group of fastest growing economies - Thursday [ 14 April 2011 ] signed an agreement to us
china used the combination of keeping its currency artificially low and communist oppressive slave labor to undermine its US trading partner.

when the debt they hold becomes worthless it will be the results of their own actions. they will have no recourse. woe is china.


.
Anonymous Coward
User ID: 1100144
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04/16/2011 08:13 PM
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Re: Brazil , Russia , India , China and South Africa - the BRICS group of fastest growing economies - Thursday [ 14 April 2011 ] signed an agreement to us
Add another I ... Iran and another S ... Saudi Arabia. Thanks OP, first time I heard it called BRIC with an S.
XP...

User ID: 1345800
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04/17/2011 12:24 PM
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Re: Brazil , Russia , India , China and South Africa - the BRICS group of fastest growing economies - Thursday [ 14 April 2011 ] signed an agreement to us
This is in the top 5 of the indicators of a US currency collapse.... Do not take this lightly! Monday watch the market and government closely. If other firms make calls on bullion I fully expect the US government to try to halt or "curtail" deliveries.
Texas University took $1 Billion in bullion delivery google it!
This is not rhetoric, it is happening! Harvard has done the same....
Only buy gold or silver if you can take it home with you....
"The world will not be destroyed by evil, it will be destroyed by the ones who do nothing to stop the evil."
"Lead or follow just get the hell out of my way!"
XP...
Anonymous Coward
User ID: 665120
Norway
04/17/2011 04:11 PM
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Re: Brazil , Russia , India , China and South Africa - the BRICS group of fastest growing economies - Thursday [ 14 April 2011 ] signed an agreement to us
This is probably today's most important thread.

Shin this pit!

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