Posted by Ivo Cerckel on March 28th, 2012
The Asian Development Bank (ADB) is a regional development bank established on 22 August 1966 to facilitate economic development of countries in Asia.
Its 5th Annual Meeting, which takes place on 2-5 May, 2012 in Manila, is to discuss a range of issues related to economic and social progress for Asia and the Pacific.
One of these issues being the need of the world economy to re-adjust after the Great Recession and to better accommodate global economic change,
Brazil, Russia, India, China and South Africa, collectively known as the BRICS nations, are holding their Summit tomorrow Thursday and Friday in New Delhi.
Two of the BRICS, plus a part of Russia, are Asians, aren’t they?
Brazil is a BRICS member.
China is setting up a $1bn fund with the Inter-American Development Bank to make equity investments in Latin America, in a new move into financing in a region where it is already a major trade partner.
The BRICS are moving forward with their plan to unseat the US dollar from its throne as the global trade currency and to replace it with a Chinese-denominated “super-sovereign” international currency.
Getting a renminbi-denominated bank account, in addition to a dollar account, could be an advantage for [...] businesses doing business in emerging markets.
Yes, the ADB and BRICS meetings will be very busy.
Asia and the other BRICS *recognise* the internal debt-dynamics of their fiat-system, their Chinese-denominated “super-sovereign” international currency.
They are aware of the fact that
a fiat monetary unit = debt.
Such a unit must therefore be accompanied by a debt compensator which can function as your wealth reserve (gold metal).
This architecture also supports the functional use of the Chinese-denominated “super-sovereign” international currency unit.
Freegold means that the Chinese-denominated “super-sovereign” international currency unit has a gold component and a paper component, but puts a “firewall” between both so that gold’s valuation as a wealth-preserving asset cannot be pulled lower by the inevitable inflation of the paper component of circulating currencies.
Gold is an item not related to its monetary policy operations.
Let gold trade freely behind the real firewall – like it did for the Ancients,
a wealth asset that stands beside money,
yet has no modern label or official connection to money.
Freegold is a value guarantor which is being added to the Chinese-denominated “super-sovereign” international currency system.
A value storage which remains intact and which is free-floating vis-à-vis the inevitable debt creations.
Who will guard the guards themselves? (“Quis custodiet ipsos custodes?”)
The question is important because an harmonious economy must function with(-in) a fiat system.
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