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elcheapo
Veteran Advisor

new bank.....and we're not invited to grand opening

This may be old news to some.
There was a BRICS meeting in
Brazil where those who are members
Are not happy with the way world bank
and the international money fund treat
Them, and how the.west treats them.

The members: Brazil, south Africa, India, China, Russia.

They are starting up their own bank.

This group is 40% of the worlds economy.

Look at this list....very important to agriculture.

China, India good customers

Russia, Brazil our competition.

Now with this....could they trade in
Their own little group....

There goes some of our demand.


So no new blender for us opening an account at brics.

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6 Replies
BA Deere
Honored Advisor

Re: new bank.....and we're not invited to grand opening

Understandably those countries are weary of our fed`s +$4 Trillion balance sheet in our quest to "print ourselves rich".

http://www.marketwatch.com/story/the-feds-enormous-balance-sheet-in-seven-charts-2014-04-18 

 

Christine Lagarde talks about a currency "reset", that is something everyone should research on their own and do what they think is best.

 

http://www.bloomberg.com/video/an-insight-an-idea-with-christine-lagarde-heKSl1aiRam4JbkkuGEGeg.html...

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Palouser
Senior Advisor

Re: new bank.....and we're not invited to grand opening

Seriously doubt this kind of grouping would change demand dymanics in ag in any significant way. Each of the mentioned countries probably has an interest they would hope to meet. For Russia it would be trying to avoid isolation. Same with China in SE Asia. India and Brazil more or less nonaligned and what might it cost them to play along and see what happens?

 

At this point I'd think the 'bank' would be a nonevent.

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FARM4FOOD
Veteran Contributor

Re: new bank.....and we're not invited to grand opening

Could be the best thing to ever happen the dollar is the only thing keeping commodities down you think for a minute Mexico wouldnt buy all our corn if the peso wasent 12 to 1 can you say giant sucking sound

 

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kraft-t
Senior Advisor

Re: new bank.....and we're not invited to grand opening

Actually I would assume that they are weary of american banks seizing assets at every little blip in world discord. Currently we are punishing russia by freezing their accounts and denying them access wall street financial centers.

 

These sanctions are an act of war if only a  different kind of act. Monetary punishment is punishment in a different form. Now perhaps it  is deserved but make no mistake I would look for different options if I were them.

 

In the first place, the act is an insult to a super power. Perhaps they are weakened from their levels of the past but they still have alot of nukes and a vast military that shouldn't be ignored. Sometimes i think america intentionally insults Russia as if we think we can bully them around. That has to tick them off like their threatening reprisals would tick us off.

 

Remember our little venture into Iraq. What would we have done if the Russians said hands off and stay the hell out of iraq. And now we are so hypocritical that we chide them for advancing into the Ukraine?

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elcheapo
Veteran Advisor

Re: new bank.....and we're not invited to grand opening

From what I'm told. These are upcomming
Countries. Who economy are growing, but
Will not be given chairs on international
Banking. Little, small countries (the Dutch
Were cited) that have little economic
impact, are on the board

Yes, they are also tired of the euro and
Dollar.
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farmer46
Senior Contributor

Re: new bank.....and we're not invited to grand opening

One part of the equation, China's money doesn't fleely float. Whatever China states as the value of the Yuan, or Rem is the value.  This has allowed China to hold down the cost of producing goods in China. Trade surplus is not taken into account with the currency value. 

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