The summit meeting of the five BRICS nations was held in Fortaleza, Brazil today, and issued the Fortaleza Declaration, which includes the historic announcement that Brazil, Russia, India, China, and South Africa have agreed to form the New Development Bank (NDB) to fund infrastructure and other development projects in BRICS and other developing economies, as well as the BRICS Contingent Reserve Arrangement (CRA), to “help countries forestall short-term liquidity pressures.” The NDB, initially capitalized at $50 billion, will be headquartered in Shanghai, China, and the first rotating president of the bank will be India.
Although the terminology employed in the Fortaleza Declaration is cautious, the fact of the matter is that the NDB is the germ of an entirely new international financial system, centered on development and national sovereignty—a fact which has the British Empire marvelously enraged.
This comes none too soon: the European banking system is sinking rapidly into a new phase of disintegration, as the existing institutions such as the IMF holler louder and louder that they need huge bailouts, bail-ins, and everything in between.
As Brazilian President Dilma Rousseff stated: “The bank represents an alternative for the infrastructure financing needs of developing countries, understanding and compensating for the insufficiency of credit from the principle international financial institutions.”
Argentine Cabinet Chief Jorge Capitanich was even more direct, expressing great interest in the NDB and slamming the IMF, World Bank, and other existing financial institutions for being “tools of extortion” which destroy the “sovereign development of our nations.”
To get a sense of the dynamic process underway, just consider the following brief chronology of the intense diplomacy surrounding the BRICS summit. In every case, there is a clear emphasis on nuclear power as a defining driver among these nations. This is a complete rejection of the Queen’s genocidal Copenhagen syndrome and of the green agenda as a whole.
- Saturday July 12: Russia-Argentina summit in Buenos Aires, with nuclear cooperation the centerpiece.
- Sunday July 13: Putin-Merkel consultations in Brazil on a negotiated settlement to the Ukraine crisis.
- Monday July 14: Russia-Brazil summit in Brasilia, with nuclear energy again an important point of cooperation.
- Monday July 14: Xi-Modi meeting in Fortaleza discussed solving border disputes peacefully, with Xi inviting India to join the AIIB as a founding member, and announcing he will visit India in September.
- TUESDAY JULY 15: BRICS SUMMIT in Fortaleza.
- Wednesday July 16: BRICS II meeting with Unasur and other South American nations in Brasilia.
- Wednesday July 16: India-Brazil summit in Brasilia.
- Thursday July 17: China-Brazil summit in Brasilia, with nuclear energy high on the agenda.
- Thursday July 17: China, Brazil, CELAC quartet, Mexico, and others meeting in Brasilia.
- Saturday, July 19: China-Argentina summit in Buenos Aires.
Also indicative of just how fed up the world is with the current state of affairs, is the report that the BRICS will be building cable links among their five capitals, in order to have secure communication capabilities, i.e., free of NSA spying. This feature of the process, along with Germany’s fury over NSA/CIA spying against the country, as well as Brazil’s, should probably be called Snowden’s Revenge.
But the decisive question remains: Whither the U.S.? Are we to remain aligned with the sinking British Empire under Obama, or will we work with the emerging new global system, remove Obama from the Presidency, and implement LaRouche’s four laws?
LaRouchePAC organizers took to the streets of Washington and the halls of Congress today with just that message. In one high- impact intervention, Matthew Ogden briefed a gathering of self-described conservative Republican congressmen, before a packed room of TV and print media, on the growing tide for impeachment in the country, and demanded that each one of them state where he or she stands on the issue of impeachment, and if they are prepared to file articles of impeachment against Obama now. Their responses are chronicled below.
The strategic stakes were summed up by the simple call by Guyana’s Acting Foreign Minister Robeson Benn at the recent OAS meeting, where he urged U.S. congressmen to put the country back on the Glass-Steagall standard, for the good of the nation and the world. Let that plea not go unanswered.