Now things are really getting interesting in the world and I'm sure the currency markets. "China invites South Africa to join BRIC: Xinhua"
China invites South Africa to join BRIC: Xinhua
(Reuters) - China has invited Africa's largest economy, South Africa, to join the four-member "BRIC" grouping of fast-growing emerging markets, its state news agency reported on Friday.
Chinese Foreign Minister Yang Jiechi said BRIC has accepted South Africa as a full member of the group, which currently includes Brazil,
China, South Africa's largest trading partner, will invite South African President Jacob Zuma to attend a summit of BRIC leaders that Beijing will host next year, it said.
South Africa is the world's 31st-largest economy, according to World Bank data for 2009 and is less than a quarter the size of the smallest BRIC economy, Russia.
The BRIC countries have sought greater clout for their grouping, holding a summit in Russian in 2009. "BRIC" is a term invented in 2001 by Jim O'Neill, the chairman of Goldman Sachs Asset Management.
South Africa applied to join BRIC at the G20 meeting of the world's leading economies in Seoul in November, Russian President Dmitry Medvedev said at the meeting.
Its economy is projected by its government to grow about 3.0 percent this year, hardly the blistering pace seen in other BRIC countries.
Some investors make asset allocations based on the BRIC classification and all of the countries that currently make up the grouping have seen their global financial clout increase substantially in recent years.
South Africa's foreign minister was scheduled to speak on Friday on the BRIC listing, the ministry said. (Reporting by
It seems as though China has a plan to strip the dollar of its role as reserve currency and claim it for itself?? (Or what I think, purely speculation, speculation in the sense that I have no definitive proof to back why I think this; but, in lieu of the recent privately held G8, G20 meetings, or the Central Bank governors meetings, etc., I would assume that much of this is systematically planned. An unwinding of dollar hegemony and a "new age"...perhaps the "golden age?" as the Mayans and Hindu prophecies predict.) Precluding the onset of WWII those within the governments at that time began implementing protectionist policies which had adverse effects on the economies of many countries due to their interdependence with one another. Fast forward to NOW...and the convolutedness of our corporate system (companies owning other companies; this is some pretty perverse stuff we are talking about here!!) along with the emergence of global stock markets, commodities futures markets, the digitized casinos that are our stock markets, and the bond speculators who did the same $*&t leading up to WWII that many of the PIIGS countries (PORTUGAL, IRELAND, ITALY, GERMANY, and SPAIN) have been experiencing already. Just yesterday Finch's lowered Portugal's rating:
"Portugal’s long-term and local currency ratings were lowered by one notch to A-plus late on Thursday by Fitch, taking its rating to the same held by Moody’s, but two notches above the A-minus held by Standard and Poor’s." http://www.ft.com/cms/s/0/6f175e80-0f4a-11e0-b336-00144feabdc0.html#axzz194FyboF7
Moody's is considering downgrading Spain's as well, even after downgrading Spain earlier this year. The credit rating agencies seem to be used in tandem with the bond speculators to exacerbate an already tough economic situation within the country of "choice." The inevitable outcome is always the same: You can have this money; only if you do , this, this and this. "This , this and this" from now, forward, we will call "austerity" measures. These "austerity" measures will be painful and in some instances outright theft (raiding the pension cookie jars similar to what Roosevelt did when he ordered the confiscation of Americans' gold!) With these new economic agreements between the BRICSA and Russia/China (the recent currency swap deal: http://www.ibtimes.com/articles/85424/20101124/china-russia-drop-dollar.htm )
it seems the financial battle lines are being established for the lead up to a possible 3rd World War!
Due to the “Dual Alliance” (Germany/ Austro-Hungary) and then “Triple Alliance” when they added Italy. Due to the alliance Germany had with the Austro-Hungarian Empire and Russia’s perceived sphere of influence in the Baltic region(sound familiar?) WWI began small, but eventually, encompassed most of Europe and Asia.
Some believe Iran could be the next powder keg like Serbia, which I do not deny. However, I believe Pakistan is nearing the boiling point already. It’s vicinity to China, its neighbor India, and former ex Soviet controlled nation states; along with the historically-violent ethnic/sectarian divisions; 6th most populated country in the world, 8th largest active military, and roughly 50% literacy rate; and owner of several nuclear bombs, all adds up to a powder keg waiting to explode. Pakistani President Asif Ali Zardari is nothing more than an American hand-puppet who just so happened to replace his wife, Benazir Bhutto who had been exiled in Dubai for roughly 10 years before coming back to Pakistan in 2007, only to be assassinated, almost three years to the date. (December 27th 2007)
By the way, do you remember what happened to our last puppet? What was his name? Saddam Hussein or something like that?! I’m sure Zardari remembers his name.
The recent wikileaks data shows Zardari’s allegiance, (for now) until the pressure from his own people becomes too much?: http://www.mcclatchydc.com/2010/12/02/104662/leaked-us-cables-a-stain-on-pakistani.html
Regardless if any of this pans out, I believe we can all agree that the next few years of this decade are going to play a large role in the direction society will take. Perhaps some sort of social rebirth coinciding with the move out of the Age of Pisces into the Age of Aquarius will occur? Countless possibilities abound. These cosmic underpinnings, in my humble opinion, cannot be underemphasized when attempting to understand the social, political, and military actions of those running the governments and multi-national corporations of the world. I suppose time will tell! IN the mean time I hope that we remember the significance of family and friends this holiday season.