Loading ...Yawn. More fiat backed by nothing is doomed to failure IMHO.
BRICS Announce $100 Billion Reserve To Bypass Fed, Developed World Central Banks
Submitted by Tyler Durden on 07/15/2014 14:38 -0400
As we suggested last night, the anti-dollar alliance among the BRICS has successfully created a so-called “mini-IMF” since the BRICS are clearly furious with the IMF as it stands currently: this is what the world’s developing nations just said on this topic “We remain disappointed and seriously concerned with the current non-implementation of the 2010 International Monetary Fund (IMF) reforms, which negatively impacts on the IMF’s legitimacy, credibility and effectiveness.”