Gold And Silver – AIIB, BRICS, CRA, EEU, NDB, SCO, no USA, UK

by Michael Noonan, Edge Trader Plus To almost all Americans mentioning Ufa will bring a blank response. What is Ufa? None would ask, “Where is it?” for there has been no mention of it anywhere in the mainstream media. Does Ufa matter? Yes, but in this country it does not. Here is a primer on understanding many acronyms the average American has no clue even of their existence. First of all, Ufa is not an acronym, it is the capital and administrative center of Bashkortostan Republic, Russia. It is one of the largest Russian cities with a population over one million people. It was founded in 1574. Now you know more than 99.9% of the average American, with just two sentences.

On to the acronyms: BRICS, Brazil, Russia, India, China, and South Africa, the core nations creating an alternative to Western [destructive] domination.  SCO, Shanghai Cooperation Organization, originally organized as a military cooperative in Asia, akin to NATO, but has since taken on some additional economic importance, as well.  EEU, the Eurasion Economic Union, akin to the EU, European Union.  [This may begin to seem like a refrain from the East to the West: “Anything you can do, we can do better.”]   AIIB, Asian Infrastructure Investment Bank, and NDB, the BRICS’ New Development Bank, counterparts to the IMF and World Bank, but without the required onerous debt burdens. Finally, CRA, Contingency Reserve Agreement, yet another layer of reducing the importance of Western financial domination.

It would not be an unfair comparison to state that next to world chess player, Vladimir Putin, Barack Obama is an ordinary checkers player with just moderate skills. In mid-July, while Obama was forcing an unnecessary nuclear restraint against Iran, a country with no nuclear capabilities, except according to the neocons in the United States, Putin convened a summit of the BRICS members, [while 5 nations, it has associate members in excess of 100, those tired of the American version of how the world should be run, or better said, ruled.], combined with the EEU members. It marked the official launch of the NDB, providing a unified economic lending benefit outside of the Western banking stranglehold, bypassing and making irrelevant the fiat “dollar.” The BRICS also established the Contingency Reserve Agreement [CRA], with an additional $100 billion available to member states and effectively renders the overly stringent requirements of the IMF and World Bank as superfluous and makes for new competition to Western dominance, which continues to weaken.

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