Alexandra Bruce – BRICS is an acronym for Brazil, Russia, India, China and South Africa, the emerging economies originally predicted by Goldman-Sachs in 2001 to dominate the world economy by 2050, comprising 48% of the world’s current population. The BRICS fund was created by these countries as an alternative development bank to the International Monetary Fund (IMF).
Contrary to what many may think, the BRICS nations, which concluded their recent meeting in Xiamen, China last Tuesday are not seeking to disrupt the Central Bankers’ debt-based, fiat money system of the IMF. They are actually seeking to get a better seat at the Central Bankers’ table, with their “currency basket” model, which replaces the petrodollar.
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