BRICS sets up own Bank to counter IMF

Tuesday, 15 July 2014   The group of emerging economies signed the long-anticipated document to create the $100 bn BRICS Development Bank and a reserve currency pool worth over another $100 bn. Both will counter the influence of US based lending institutions and the dollar. The new bank will provide money for infrastructure and development…

Will the IMF headquarters move to Beijing?

(People’s Daily Online)    09:19, June 17, 2014 The International Monetary Fund’s headquarters may one day move from Washington to Beijing, aligning with China’s growing influence in the world economy, the fund’s managing director Christine Lagarde said early this month. Attaching importance to China Christine Lagarde made the statement at the London School of Economics and…

Global poverty could be up to a third higher than reported

Public Release: 10-Apr-2014 With over one billion people in the world living on less than $1.25 per day, the World Bank aims to end ‘extreme poverty’ by 2030. But new research suggests that global poverty figures could be underestimated by up to a third, and calls for more robust measurement in the future. The World…

Luxury fashion CEO says normal Americans shouldn’t whine about being poor because they would be rich in India or China

EEV Solution:  Ostracise anyone wearing Nicole Miller, until Bud Konheim is rich just like the other 99%. Bud Konheim is boss of Nicole Miller which sells $800 sequined dresses Says U.S poverty level is wealthy in 99% of countries around the world Incomes for the richest 1% of Americans nearly tripled from 1979 to 2007 By…

Chinese state media: Xinhua says ‘new world order should be put in place’ where all nations can have interests respected on equal footing

Chinese state media calls for ‘de-Americanised’ world after US shutdown   Xinhua says ‘new world order should be put in place’ where all nations can have interests respected on equal footing Sunday, 13 October, 2013, 1:59pm   Agence France-Presse in Beijing       US House Democrats line up to march onto the House floor…

Several major Chinese banks have canceled participation in the annual meetings of the IMF and World Bank to be held in Tokyo next week

China banks pull out IMF Tokyo meet amid island row: WSJ Posted 2012/10/02 at 10:37 pm EDT TOKYO, Oct. 2, 2012 (Reuters) — Several major Chinese banks have canceled participation in the annual meetings of the IMF and World Bank to be held in Tokyo next week, the Wall Street Journal said on Wednesday, the…

Economist Richard Duncan: Civilization May Not Survive ‘Death Spiral’

Money Morning By Terry Weiss, Money Morning Richard Duncan, formerly of the World Bank and chief economist at Blackhorse Asset Mgmt., says America’s $16 trillion federal debt has escalated into a “death spiral, “as he told CNBC. And it could result in a depression so severe that he doesn’t “think our civilization could survive it.”…