For the previous update in this series read:
Globalist Agenda Watch 2015: Update 17A – Debunking the phony “BRICS Bank versus World Bank/IMF” conflict
Source – RedefiningGod
Going on to Section II, “EXISTING GAPS IN THE SOUTHERN FINANCIAL ARCHITECTURE,” the paper identifies two needs vis-a-vis the southern financial architecture:
1) the need for money to fund “more sustainable” development (think Agenda 21), and
2) the need for a pool of cash to draw upon during times of crisis.
2) the need for a pool of cash to draw upon during times of crisis.
It then establishes the need for the pool of cash based on negative effects Federal Reserve monetary policy has had on the developing nations, and it points to a previous, similar effort to provide such a pool, the Chang Mai Initiative…
“The Chiang Mai Initiative (CMI) is a multilateral currency swap arrangement among the ten members of the Association of Southeast Asian Nations (ASEAN), the People’s Republic of China (including Hong Kong), Japan, and South Korea. It draws from a foreign exchange reserves pool worth US$120 billion and was launched on 24 March 2010. That pool has been expanded to $240 billion in 2012.
The initiative began as a series of bilateral swap arrangements after the ASEAN Plus Three countries met on 6 May 2000 in Chiang Mai, Thailand, at an annual meeting of the Asian Development Bank.After 1997 Asian Financial Crisis, member countries started this initiative to manage regional short-term liquidity problems and to facilitate the work of other international financial arrangements and organisations like International Monetary Fund.”
If we look back at the Asian Financial Crisis, we see evidence that the globalists instigated it…
“The foreign ministers of the 10 ASEAN countries believed that the well co-ordinated manipulation of their currencies was a deliberate attempt to destabilize the ASEAN economies. Former Malaysian Prime Minister Mahathir Mohamad accused George Soros of ruining Malaysia’s economy with “massive currency speculation”. Soros claims to have been a buyer of the ringgit during its fall, having sold it short in 1997.”
…and then used it to pull the Asian nations into a multilateral framework with the Chiang Mai Initiative…
…Problem / reaction / solution strikes again.
…Problem / reaction / solution strikes again.
Continuing on with Section II, the paper points out that the “Chiang Mai Initiative Multilateralization (CMIM)” has a provision that requires the member nations to seek IMF approval if they wish to access the majority of the available funds, and it goes on to explain that the BRICS Bank’s Contingent Reserve Agreement (the BRICS version of the “pool of cash”) would have the benefit of not requiring such approval. This raises an obvious question: why would a UN paper be lauding such a feature?
The answer, of course, is that such an arrangement is necessary in order to carry out the globalists’ “governance reform” script. When the next “Lehman Shock” is triggered, the BRICS will be able to stand on their own feet and weather the storm while the West and the IMF flounder. This will put them in position to step up and “save” the West and the IMF in exchange for “reforms.” In this way, the NWO will rise like a phoenix from the ashes of the next Lehman.
[Like all globalist policy documents, this one is written in insufferably dull “Technocratese,” so I know most people won’t go to the trouble of plodding through the whole thing. I’ll therefore cover the rest of the paper’s salient points in additions I’ll make to this entry over the next day or two. As I add each module, I’ll change the title of this entry to “Update 17B, 17C, etc.” until it is complete. You’ll know it’s finished when I drop the letter and title it simply “Update 17.”]
For the previous update in this series, click here.
With love…
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