THE COMING BRICSA CLEARINGApril 18, 2014
Mr. P.H. kindly shared this article with me, and it's an indicator of the looming possibility that the BRICSA nations are not only fed up with the USSA's high-handed behavior, but another indicator that my prediction of BRICSA independent international financial clearing may be quietly in the works. (Now, for those still sitting on the fence, or who believe it's all still about the "city on the hill" and "the indispensible nation" and "the shining light," consider this editorial from former Reagan Administration assistant secretary of the Treasury, Dr. Paul Craig Roberts:
Now, down to the business at hand, this article is written by an Indian, and it's worth noting his language:
"Over the last few decades, global interdependence has translated more into emerging economies being dependent on Western systems. It goes without say that an IMF bailout of an emerging economy will come with far more strict conditions than one that bails out a Western economy. The BRICS just do not have enough of a say in the way the Bretton Woods institutions function. It’s unfortunate that an idea like the BRICS bank, which should have come into fruition by now, is still stuck and is likely to become a reality only by 2019.
"A growing numbers of countries in Asia, Africa and South America are frustrated with the bullying that is a part and parcel of the Western-dominated institutions. The BRICS are seen as a counterweight and inspiration in the quest for a new world order. The upcoming summit of the grouping in Brazil should have a single-minded focus to set up the kind of infrastructure that creates a firewall against economic sanctions."
There it is, folks, in clear print, and as I predicted, the call for such a system would not come from Russia or China, but as predicted, from Brazil or India. There is little left to the imagination here, since a "firewall" in the context of the article can only mean a mechanism of clearing free and independent of Western influence. And the conclusion of the article leaves no ambiguity, at least as far as some Indians are concerned:
"India’s interests lie in the strengthening of BRICS both as an economic and a political grouping. Russia could not get isolated internationally after the Crimean reunification largely because the BRICS rallied and came out in support of the country. Given the fact that the West has rarely been sympathetic or taken India’s side in any international dispute, the day may not be far when the country may face the wrath of sanctions on some flimsy grounds."
The response of the west to such measures, particularly as being announced from the third nuclear power in the BRICSA entente, India, is inevitable, for there will be a response. But sanctions against India are unlikely(though given the insanity prevailing in the corridors of power in the West, not altogether unfeasible "on some flimsy grounds."). More likely is what we've seen at work in the Ukraine: pro-"democracy" groups of thinly disguised fascists, in other words, covert ops...
...but as I've said before, the covert ops game is a game that two, or more, can play.
See you on the flip side.