Arjay, what makes you think that
a) The Western system will collapse?
b) China and Russia could disallow a country to create their own credit?

Aidan, 1/ Our system will collapse because in 2008 they just made the problems worse with money printing and bailing out banks that should have been left to fail. Now the share market bubble is much bigger while globally production and jobs are down. The real rate of unemployment in the USA is 24% and they have 50 million on food stamps.

The repeal of the Glass Steagall Act was another blow to financial stability. This was brought in in the Great Depression to separate speculative, risky banking from the retail sector.
http://www.nerdwallet.com/blog/banking/glass-steagall-act-explained/

Dr Paul Craig Roberts said recently that since 2006 US Corporations have borrowed $4.3 trillion from the banks to buy their own shares and thus pay themselves huge bonuses and salaries.

See what James Rickards says about the coming depression that could last 25 yrs.
http://www.youtube.com/watch?v=KYW5OGWfqJc
He sees many signs that are worse than the Great Depression like the velocity of money ,the misery index, real unemployment and the fact the West has no real productive jobs to back up their economies.

2/ China and Russia have many Govt banks and they may decide to be the our Central Private Bankers and not allow member countries to create their own credit, thus they become all powerful. The rules have not been formulated. Why have a singular all powerful central banking system when individual countries can do likewise ?

Arjay,

1) Why do you think money printing made anything worse? Surely the only think money printing makes worse is inflation (which has been quite low since the GFC)? And any government with the ability to print money can enable its country to exit any depression within a year.

Events of 2008 highlighted the folly of America repealing the Glass Steagall act, but since then they've started to tighten banking regulations again.

And the West does have quite a lot of productive jobs – it's just that fabrication of goods is not the high value activity it once was.

2) That's rather implausible, as they'd be jealous of each other's power.

"Why have a singular all powerful central banking system when individual countries can do likewise ?"
Good question. I think it's because individual countries don't want to do likewise.

All good questions, Aidan.

I'll ask Arjay a supplementary.

>>...bailing out banks that should have been left to fail<<

What would have been the impact on the general public if these banks had been "left to fail"? Consider, for example, the impact on industry (and employment) if businesses had been unable to arrange any refinancing of their loans, due to the "failure" of their bank. Why would any government allow that to happen, if they had the means to prevent it?

Arjay, your instincts on finance would fit easily onto a banner at a street march, but unfortunately that is also the limit of their intellectual content. Slogans are fun, of course, but not particularly helpful.

Well great Periclueless; what to private central banks actually produce that makes them too big to fail? Other than counterfeiting our money and creating needless debt from nothing,they really have no use.

It would be better to have mutual banking societies so both borrowers and depositors can share in this newly created money.

Aiden and Clueless are just another two trolls baiting myself and others to try and gum up the works.

Why did the suppository of no wisdom suddenly be unable to "shirt front" Vladmir Putin ? Ans. Tony Abbott just does as he is told by the likes of the Rothschild Bankers.

Could the Rothschilds be doing secret deals with both China and Russia in regards to this new BRICS bank ? Russia to avert a nuclear war may well be considering a deal with these criminals.

Arjay my questions were not thetorical and my answers and comments are what I genuinely believe. I'm not trolling. What made you think I was?