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Empire_of_the_mind ago

The only thing clearly scheduled right now for July 20 is the deadline for a US/Iran "Nuclear" deal. As this has nothing to do with nuclear weapons (Iran does not have them nor is pursuing them) we can infer that it's really about getting Iran "in the club." Iran is perched between the BRICS and Western alliance and the movement the past year or two has been to try and bring them west. By having Iran buy into the petrodollar they can shore up the underpinnings of their reserve currency. The deal is essentially "use the US dollar and we'll stop sanctions/threats of war."

Conversely if Iran goes the other way it suggests that IMF et al are pushing the BRICS change as their next maneuver.

somekindofmutant ago

Russia's Finance Minister Anton Siluanov said BRICS will make a decision on the creation of the bank at the next summit in Brazil in mid-July. The entity will be called the "New Development Bank."

http://online.wsj.com/articles/brics-to-open-development-bank-by-2016-as-alternative-to-imf-1404888422

Empire_of_the_mind ago

Hammer-meet-nail.