NEWS AND VIEWS FROM THE NEFARIUM MAY 8 2014

May 8, 2014 By Joseph P. Farrell

Joseph comments on three developing stories: (1) Putin signs into law the creation of a system of domestic clearing in Russia bypassing Visa and Mastercard, (2) The BRICSA development bank (and when the preliminary structure is supposed to be done...you won't believe it when you hear it folks), and (3) the issuance of bonds in Reminbi in (wait for it...)....

...Germany.

BRICS, Disillusioned with IMF and World Bank, Create parallel Monetary Fund

Putin Signs Law on national card payment system

Frankfurt issues first bond backed by Chinese Currency