BRICS credit: Local currencies to replace dollar

http://articles.economictimes.india...83_1_economies-food-security-local-currencies

What! Now that's the death of the dollar right about there. The only other thing that needs to occur is Opec announcing it is abandoning the dollar standard as well.

 

http://forums.silverstackers.com/to...lar-with-call-for-global-monetary-revamp.html

 

interesting times to watch this is.

 

But Brazil and Russia don't exactly have a 'good economy' going on so this might damage their plan.

http://goldsilver.com/news/belarus-c-bank-halts-sales-of-gold-for-roubles/

 

Since when did South Africa join this 'BRIC' grouping? I must have missed the memo.

 

Since it became the BRICS group?

They have a great big pile of natural resources and they're at about the same stage of development as most of the other countries so it makes sense they're all sitting at the same table.

 

Ahh, which was 5 days ago.

On April 13, 2011 the "S" was formally added to BRIC to form BRICS after the admission of South Africa into the union.

http://www.businessworld.in/bw/2011_02_19_S_Africa_Joins_BRIC_Now_BRICS.html

 

The memo must still be sitting in your In tray then

(Apparently S.A. have been trying to get into the group for a while).

 

Good to see