Is the New BRICS Bank a Challenge To US Global Monetary Power?

"Brazil, Russia, India, China and South Africa have many allies in the G-20, the minister noted, naming Argentina, Mexico and Indonesia in particular. 'They speak in the common voice with BRICS in the G-20 on the reform of international financial system,' the diplomat said.

BRICS countries are going to jointly demand implementation of the International Monetary Fund (IMF) reform during the G-20 summit being hosted by Australia in November.  The agreements to reform IMF quotas were reached in 2010 but have been put on hold by leading Western countries ever since."

Xinhuanet, BRICS matures, can turn into political alliance

It is pretty much as I said it was with the evolving currency war and the struggle by the Anglo-American banking cartel to maintain the status quo in a changing world.

How it will turn out, no one can know for certain. But since money and power are involved it will probably become more dirty and desperate than one might otherwise expect.

 

Thom Hartmann: The Crash of 2016

This is a view of how we got here and where we are going that you are unlikely to hear from the mainstream media.

Gold Daily and Silver Weekly Charts - Sleepwalking To a Wipeout

Word has it that Goldcorp is eyeing Newmont (at these price levels and reserves) with covetous eyes. Can't say I would blame them.

Markets shook off the scare of a new cold to medium warm war yesterday as conflicts took their toll on innocents in the Ukraine and in Gaza.

The beleaguered Espírito Santo International has declared bankruptcy.

The Anglo-American financial system's moral bankruptcy is already a generally recognized fait accompli, except by those caught up in the credibility trap.

Today was a stock market option expiry. The next expiration on the Comex will be for the August contracts on July 28.

This next song goes out to Bubbles, from the Moondog.  If you do right, everything will come out right. aaaaaahwoooooo...

Things might look bad, but there is still room to dance if the music is good.  We'll save a table for you.

Have a pleasant weekend.

 

SP 500 and NDX Futures Daily Charts - Nothing Can Stop the Market, Until it Does

"Government is, or ought to be instituted for the common benefit, protection, and security of the people, nation, or community; of all the various modes and forms of government, that is best which is capable of producing the greatest degree of happiness and safety, and is most effectually secured against the danger of maladministration."

George Mason

The markets bounced back today as the algos shook off yesterday's Ukraine and Gaza jitters, and the momentum players came back in.

Volatility fell on this options expiry.

Have a pleasant weekend.