China Bails Out Russia, and Belarus Sacks Prime Minister, Central Banker, and other Officials

 

by William Pesek, Bloomberg View:
Thanks to China, Christine Lagarde of the International Monetary Fund, Jim Yong Kim of the World Bank and Takehiko Nakao of the Asian Development Bank may no longer have much meaningful work to do.

Beijing’s move to bail out Russia, on top of its recent aid for Venezuela and Argentina, signals the death of the post-war Bretton Woods world. It’s also marks the beginning of the end for America’s linchpin role in the global economy and Japan’s influence in Asia.

What is China’s new Asian Infrastructure Investment Bank if not an ADB killer? If Japan, ADB’s main benefactor, won’t share the presidency with Asian peers, Beijing will just use its deep pockets to overpower it. Lagarde’s and Kim’s shops also are looking at a future in which crisis-wracked governments call Beijing before Washington.

Read More: bloombergview.com

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Belarus President Alexander Lukashenko
President of Belarus, Alexander Lukashenko, has replaced his prime minister, the head of the national bank and an array of other top officials: http://www.panarmenian.net/eng/news/186740/
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9 comments on “China Bails Out Russia, and Belarus Sacks Prime Minister, Central Banker, and other Officials
  1. Alan Scott says:

    Pretty thought-provoking stuff!

    • RonMamita says:

      Exactly!
      Without commentary, the institutional reports from news media about major changes in institutions is very interesting.
      What interests me are the effects and what is revealed about the ongoing geopolitical plans…

      Bloomberg chose to frame the report as a confrontation and that may or may not be true,
      However China’s financial influence is growing among the international banking cartel and that possibility was captured in the report with this sentence:
      ‘Lagarde’s [IMF] and Kim’s [ADB] shops also are looking at a future in which crisis-wracked governments call Beijing before Washington.”

      What is even more interesting comes from “Mish“:

      Although US and EU sanctions make it difficult for Russian companies to obtain financing, and although the Russian banking system is a mess, sovereign default will only occur if Russia cannot meet its foreign debt obligations.
      Russia has about $4000 billion in foreign currency reserves, lowest since 2009, but foreign currency obligations for 2015 total about $120 billion.

      On that score, the immediate risk seems slim. In fact, one has to wonder if the impending downgrade to junk is politically motivated.
      Regardless, the US severely underestimates the fallout, especially to Europe, should default occur.

      Sanctions are economic madness and Obama’s claim they are working is preposterous.

      The global banking crisis devastation is not only impacting Russia, but all nations including Belarus.
      I see devastation in other nations that I did not post, such as Latin American and African nations. The Colombian peso dipped to its lowest level since 2009.
      All People on Earth should be aware and alert to the global banking crisis as it continues…

      “All wars are bankers’ wars” – Michael Rivero

  2. RonMamita says:

    Belarus and Ukraine are nations that appears (to me) to be thorns for Russia.
    Both are also bankrupt and dealing with a worthless currency…

    The IMF is struggling to bail out the Ukraine, but who will Belarus turn to, Beijing or Wash DC?

  3. RonMamita says:

    Keiser Report: De-Fiatisation of the World

    Published on Dec 27, 2014
    In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the ‘Give Us Back Our Gold’ movement across Europe as governments seek to have their gold held domestically as fear spreads about the integrity of our fiat and debt world. Max describes the de-fiatisation of the world as the American empire makes way for the emerging power of China. In the second half Max interviews Sandeep Jaitly of FeketeResearch.com about negative GOFO rates, earning free fiat with your gold and taking us back to the Dark Ages with Quantitative Easing.

  4. Very interesting development. I think the IMF is past its “use by” date. They were nearly bankrupt prior to the 2007 economic crash. Too many 3rd world countries had repaid their debt and too many Asian countries refused to accept loans from them after being screwed over in the 1990s.

    • RonMamita says:

      Yes, indeed.

      I would not be surprised if the IMF moves HQ to Beijing.
      The IMF has an important report due July 2015 rating the China’s RMB currency as a freely useable currency…

  5. RonMamita says:

    Gold Poker Game

    Posted 19 Dec 2014

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