Bits and Pieces 29thMar13

  • The BRICS nations, 43 percent of the world’s population, are working on a new “development bank” set to bypass the World Bank and the IMF.

“There’s a shift in power from the traditional to the emerging world.”

The move is seen as a way for BRICS to protect themselves from the US and Europe’s financial trouble and as a way to increase their global financial influence.

Details here  and here.

  • Russia to ban cash transactions over $10,000
  • Bitcoin’s market capitalization briefly hits $1Billion!
  • Texas want’s its gold back from the Fed.

 

The Turkish Prime Ministers Wants the IMF to Use Gold Instead of Dollars

Sabah, a Turkish new site, reports that the Prime Minister has said, “Why do we not switch then to a monetary unit such as gold?”

It would seem that Prime Minister Erdoğan is not pleased with the IMF as they are “going to rule the world based on the exchange rates of [the dollar]” and has “no intentions of working with the IMF again.”

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