BRICS give a lead, but …

Published on, by RS/HJL, July 17, 2014.

The BRICS (Brazil, Russia, India, China and South Africa) are giving a lead. It should be BRIIICS (the three “I”s are India, Indonesia and Iran). Yet, even that is unfair because many other countries now aspire to the freedom from Western domination and bullying that the BRICS association represents … //

… A key matter is that the new Bank is designed to break the dominance of the US dollar in international trade transactions. At present, the use of the US dollar for settling trade transactions (particularly those in oil) means that, as global trade rises, there is a continual demand for US dollars and so, in practice, the USA is in a position to print dollars without much consequence. This then means that, apart from financing a standard of living unfairly higher than that of others, the USA can finance its military to attack countries right round the world. Countries that refuse to trade in dollars are soon subjected to military assault e.g. Libya, Iraq and Syria.

One thing is clear ? the BRICS concept is in existence and will soon be increasing its efficacy. Yet, an arrogant, blustering USA is ignoring what is happening and continues its politically and economically destructive policies of trying to destabilize Russia and China while fanning the flames of war in Syria, Iraq, Palestine, Yemen, Chechnya, Pakistan and Ukraine.

The new bank, of course, has many practical problems to solve (e.g. Russia wants high energy prices while China and India want low ones) but the biggest danger it faces is relying on outdated economic thinking, which could destroy it and its constituent countries.

That danger is a failure to understand that no modern economy can flourish unless productive capacity is developed while, at the same time, the ownership of that capacity (and thus the associated consuming capacity) is spread throughout the society so that producers and consumers become the same people.

On top of that, the spreading of the capacity must be done without creating un-repayable, compounding debt and that is easily done if an interest-free money supply (emanating from the national bank or, in this case, the new BRICS Development Bank) is used for the spreading of productive capacity (and the associated consuming capacity).

This is new paradigm thinking and, in its fully developed form, can only be found at The danger is that, if the BRICS countries do not understand and implement new paradigm thinking, they will end up putting their own societies into un-repayable debt, with huge rich-poor division and, in no time, the implementation of a police state. (NB It is particularly important to spread economic power because, if that is not done, true democracy cannot exist and a police state is inevitable).

(full text).


The Brics are banking on a rather old-fashioned idea to challenge US and Western dominance, on, by Hamish McRae, July 17, 2014;

BRICS bank will reduce Western dominanc – Chinese media, on, July 16, 2014;

Emerging Nations Plan Their Own World Bank, IMF, on abcNews, by Paul Wiseman, July 14, 2014;

Corporate Empire Created Failed Global Economic System – John Perkins, on ETF daily Greg Hunter, y news, June 24, 2014;

John Perkins

on en.wikipedia (born January 28, 1945) is an American author. His best known book is Confessions of an Economic Hit Man (2004), in which Perkins claims to have played a role in an alleged process of economic colonization of Third World countries on behalf of what he portrays as a cabal of corporations, banks, and the United States government. Perkins has also written about mystical aspects of indigenous cultures, including shamanism …;

on World People’s Blog:


on YouTube, for example with this videos: Confessions of an Economic Hit Man, 53.34 min, June 21, 2007, uploaded by talkingsticktv:

Other Links:

Snowden: If I end up in chains in Guantanamo I can live with that, with video 13.59 min, on Russia Today RT, July 17, 2014;

Pendulum swings towards reaction against ‘the other’, on Business Day BD live, by Allister Sparks, July 16, 2014;

No to the war in eastern Ukraine!’ Declarations of the Yalta anti-war conference, on, by a socialist in Canada (Roger Annis), July 16, 2014;

A Day in the Life of Daku’dane John Perkins, on Juneau Empire, by Mary Catharine Martin, July 3, 2014;

Book Review – Political Aid and Arab Activism: Democracy Promotion, Justice, and Representation, Interview with Sheila Carapico, on Jadaliyya/(Dialectic), Cambridge University Press, 2013;

Alfred McCoy – Surveillance State: The Making of the US Internal Security Apparatus, 76.43 min, uploaded by talkingsticktv, July 23, 2010;

… and this:

Beautiful Female Vocals, 122.21 min, uploaded by EpicMusicVn X, March 11, 2014.

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