pericles th BRICS rightly want to be free from the Western financial farce of derivatives and the printing of money to pay for produce.The West have let these financial lunatics destroy our economies.Their phoney money has become more important than the real economy.

The BRICS can expand their own econimies and trade their way out of our disease.The Western Debt cannot be repaid and it shouldn't via austerity measures on people who had no hand in this fraud of Fanny May,bailouts and credit default swaps etc.These criminals should never have been bailed out so ordinary people are placed in their servitude via debt.

The West under the Central Banksters and NATO have us on a perilious trip to economic destruction and war.It is all totally unnecessary.

Any chance you might have another look at the question, Arjay?

Re: "a separate trading block that now is on the path to developing it's own monetary alliance", I was wondering whether you had by any chance thought how this might be constructed?

Do you mean a monetary alliance in the same way that the Euro is a monetary alliance? Are you suggesting they will be producing their own currency?

>>th BRICS rightly want to be free from the Western financial farce of derivatives and the printing of money to pay for produce<<

If they are not going to be "printing money", how will they "pay for produce"? Is it some kind of bartering system they have in mind?

This is where you lose track of reality, by the way.

>>The Western Debt cannot be repaid and it shouldn't via austerity measures on people who had no hand in this fraud of Fanny May,bailouts and credit default swaps etc.These criminals should never have been bailed out so ordinary people are placed in their servitude via debt<<

Ummm... the "ordinary people" were the ones who took on the debt in the first place, Arjay. And far from being "placed in servitude" if they could not repay the loan, vast numbers of them simply walked away, leaving the keys to the property in the hands of the lenders. Who then had to revalue their portfolios downwards, and bingo! Financial crisis... for the Banks.

You seem to have this blind spot when it comes to financial matters, as we all know. So it may be a good idea to follow the advice of my dear old granny, when she said "It's better to keep quiet and let people think you are stupid, than open your mouth and prove it".

Pericles you again miss the point.Ordinary people have to take debt because these private banks express their productivity as debt.Without debt in this slavery system there would not be enough money for the economy to function.

Don't you get it? When private banks express your productivity + inflation as debt,eventually all the money in the economy will equal all the debt.We then have a system collapse.

The BRICS are not having a single currency like the EURO.They will keep their own and trade without the parasitic EURO or the $ US.The Chinese economy gets 80% of new money from Govt bank,so they are not exposed to as much debt.The central banks of Europe fear this break away movement because many other debt ridden countries will follow.

http://www.globalresearch.ca/index.php?context=va&aid=30944 Paul Wilmont has determined that the derivative market is 20 times the size of the world economy.This is why we need a Glass Steagall Act to separate the toxic derivatives from the real economy.You and others may only get 5 or 10 cents in the $ if they are not isolated from productive investments.

I think granny was right, Arjay.

Not a single word of your last post makes any sense at all.

Although your use of "the" came close on occasions.

You don't want to understand as usual Pericles.Do you still insist that the US Federal Resreve is a Govt organisation?

As you know, Arjay, I don't "insist" anything.

>>Do you still insist that the US Federal Resreve is a Govt Organisation?<<

I merely deal in facts.

Fact #1: The members of the Board of Governors are nominated by the President of the United States and confirmed by the U.S. Senate

Does that make it a government organization?

Fact #2: The US Congress establishes the objectives for monetary policy in the Federal Reserve Act. These are the mandated goals that the Fed is required to aim at, and their performance measured against. These are presently to balance "maximum employment, stable prices, and moderate long-term interest rates".

Does that make it a government organization?

Gee willikins, Arjay, how can anyone possibly work out what's going on when all we have to guide us are such feeble and insubstantial facts as that?

And while I'm here. From your earlier post:

>>Ordinary people have to take debt because these private banks express their productivity as debt<<

No-one has to take debt, Arjay. They choose to.

>>Without debt in this slavery system there would not be enough money for the economy to function<<

Ignoring the "slavery system" comment, which is nonsense, you are right that debt is an essential component of growth. Funny, though. I thought that you were strongle opposed to debt, and were only interested in hard currency - gold-backed, for preference. Am I wrong?

>>When private banks express your productivity + inflation as debt,eventually all the money in the economy will equal all the debt<<

I'll bet you don't even understand what you have written there, Arjay. Which is one of the basic problems that you have when sharing your thoughts on this forum.

Listen to granny. She's usually right.