BULLDOG75: BRICS TO CREATE ENERGY ALLIANCE & RATING NETWORK
This reminds me of the Vince Lombardi era Green Bay Packers in the height of their NFL domination. They are going to run at you head on; they don't care if you know beforehand the play to be called or who gets the hand off. The Packers are coming at you with game face and every ounce of strength they have; and they don't care what you think.
Vincent Thomas "Vince" Lombardi (June 11, 1913 – September 3, 1970), was an American football player, coach, and executive. As the head coach of the Green Bay Packers during the 1960s, where he led the team to three straight and five total National Football League championships in seven years, including winning the first two Super Bowls following the 1966 and 1967 NFL seasons. Lombardi is considered by many to be one of the best and most successful coaches in NFL history. The National Football League's Super Bowl trophy is named in his honor. He was enshrined in the Pro Football Hall of Fame in 1971. Courtesy of Wikipedia.
Thus, welcome to BRICS. Wake Up America & World; here come the packer BRICS. Dig in deep; call your play but read the fine print Smile
Since the BIG 3 of: Moodys, Fitch and S&P have dominated for decades a 90% plus share of the ratings market, well; BRICS is about to make a mild adjustment to the Financial World with their own 'Rating Network'. Hello Shanghai and Bejing.
Top Gold Diggers, Holders and Hoarders: China, Russia, India, Australia.
'Gold, Silver, Precious & Rare' leads the GCR; Dinar, Dong & favorites follow.
Our Manna Comes Forth.
I Love You All ~
Russia Announces BRICS ‘Virtual Secretariat’
July 3, 2015
As it prepares to flaunt its new financial instruments by declaring them open for business during a Summit next week, the bloc has said a ‘virtual secretariat’ is being established.
“We do need organisational principles in order to feel more comfortable drafting documents and communicating with colleagues in the BRICS capitals. A so-called “virtual secretariat” is being created for this purpose on the same principle as the network university. This is an e-facility that will maintain communication between the principal agencies in the five countries,” Russian Foreign Minister Sergei Lavrov said.
He was speaking at a BRICS Youth Forum in Moscow on Thursday.
The BRICS countries make up about 40% of the world’s population and a combined economy of about $16 trillion.
“BRICS emerged organically. There was no artificial initiative…Announcing the establishment of an organisation with member-cards and a headquarters would mean bureaucratising the cooperation process that currently suits absolutely everyone,” Lavrov said in response to a question at the Youth Forum.
“When the leaders and other participants in the BRICS process feel that they need a standing structure with a base somewhere, they will adopt the relevant decisions. For now, however, we have the optimal format for the development of BRICS,” he added.
The BRICS countries have announced a new BRICS Bank and a $100 billion currency reserve fund, institutions that are expected to rival the World Bank and the IMF in the near future.
The China-led Asian Infrastructure Investment Bank, the first new multilateral development lender in decades has also won support from governments around the world, some of them prominent US allies like Britain, France, Germany, Italy, Australia among others.
The headquarters of the BRICS Bank and AIIB will be in the Chinese cities of Shanghai and Beijing respectively.
The five emerging economies are also looking at creating a new Energy Alliance and a BRICS rating network to counterbalance the Big 3- Moody’s, Fitch and S&P, which together account for a 90 per cent share of the ratings market.
The Russian Foreign Minister on Thursday said “a new and very important period has begun in the group’s activity”.
“BRICS is also a centre of gravity for those who think the same way and favour a more just system of international relations, including economic ties,” Lavrov added.
Russia has hosted BRICS civil and academic forums in the run-up to the Leaders Summit on 8-9 July in Ufa.
The BRICS have evolved from the original four-member term coined in 2001 by then-Goldman Sachs economist Jim O’Neill to describe the growing weight of the largest emerging markets in the global economy. In 2011, South Africa joined to give the BRICS a broader geographic representation.