Post: #1

In case no one has been following the Chinese have launched their second bank after the BRICS bank and what make this one unique is that everyone was given an invitation to join. The rest of the BRICS nations promptly signed up along with the N-11 markets but the Americans decided to sit this one out.

The story gets interesting because European nations like Germany , UK , France etc have told the Americans to shove it and become founding members prompting rare rebuke from the White House. Australia and Korea have also reconsidered their decision making the American decision a foolish one.

These are the building blocks of a globalized world (which is inevitable) and for some reason we're standing like the spoiled little kid on the sidelines with patriots rambling on about how we are the #1 country in the world and worrying about a 'muslim problem'. (When you actually ask them to explain this it's clear they are just regurgitating horse shit Media propaganda).

I simply cannot understand this. The rise of ancient civilizations like China and India and various other countries like Brazil etc is inevitable and end of petrodollar hegemony is conceivable within our lifetime and we have people who honestly believe that battening down the hatches and closing our borders and living in an insular economy will benefit us.

Congratulations , we're on the outside looking in on some of the institutions that may very well redefine this world.

Post: #2

(04-05-2015 04:53 PM)zayfran Wrote:  I simply cannot understand this. The rise of ancient civilizations like China and India and various other countries like Brazil etc is inevitable and end of petrodollar hegemony is conceivable within our lifetime and we have people who honestly believe that battening down the hatches and closing our borders and living in an insular economy will benefit us.

Congratulations , we're on the outside looking in on some of the institutions that may very well redefine this world.

You're not making too much sense. What does the formation of a Chinese led financial institution have to do with Mexican immigrants?

As for the idea that the United States is "closing our borders" or that such a thing is being propagated by the media and institutions, dude, you must be living in an alternate reality.

The problem is exactly the opposite of what you're bitching against. We're losing out precisely because we have no borders, and because our economy is so "open" to the world that the world is assraping us with its mercantilist trade policies. But yeah, we should just spread those asscheeks some more, that'll do it.

Post: #3

The post is purely economic. Closing our borders is a reference to people who believe that due to USA becoming energy independent sometime soon we can somehow cut ourselves off from the global system and avoid the shocks as the world reaches parity. It's an absurd line of thought.

We are not 'losing' because of 'mercantilist trade policies'. That's a whole different thread in itself. The bottom line is the IMF was an organization disproportionately skewed towards 'Western nations' and any effort to reform to take into account the importance of the emerging world was blocked by the Congress.

Now we have a viable alternate organization that could decide to create an alternate currency when the time is right and we won't have a clue.

Well played.