Saturday, July 11, 2015

Interesting times

From the Hindustan Times...

I'll provide the URL for purposes of documentation. But the site opened a pop-up window on my machine and I don't like that, so I'm not formatting it as a link and I'm not saying you should go there.

From the article:

BRICS bank to lend in local currency by April: KV Kamath

The New Development Bank (NDB), set up by five BRICS nations including India, will lend in local currency by April 2016 and member countries will be the focus of credit facility, its chief KV Kamath said on Friday.

Kamath said a decision to open membership for other countries will be taken in the next few months by the bank's board of governors.

What was the old board game called? Risk. That's it, yeah.

Source: Wikipedia

Looks like BRICS bankers are doing the same as the EU has been doing, the same as we all like to do, and the same as Ben Franklin and Alexander Hamilton and them did back in the day: playing a game of global domination. Only these bankers don't call it global domination. They call it opening membership.

Reminds me of the EU in the 1990s. Everything you read and everything you heard about it in the media back then was the promise of a better economy. Again, here, with the BRICS bank: All they need do is open membership, and it will be like flies to honey.

And when the promise of a better economy fails to pan out for some, well, that's just their own fault. Just like poor people in America. And we all hop on these bandwagons and toast the toast and cheer the cheer. We're social animals, not smart ones.

It's a curse, you know -- "May you live in interesting times."

1 comment:

The Arthurian said...

I googled BRICS DEBT just now. Two million hits. Here are the first two:

1. Russia offers debt-ridden Greece funds from Brics bank

2. Greece May Become a Member of BRICS. Debt Relief From ...

Talk about dangling a carrot!