Tag Archives: Brazil

New world order emerging from BRICS summit

Leaders from Brazil, Russia, India, China and South Africa (the BRICS) met in Durham, South Africa this week to discuss a new world bank which will allow them to trade and fund their projects independent of the World Bank and the U.S. Dollar.

South African President Jacob Zuma saud that the group has “decided to enter formal negotiations to establish a BRICS-led new development Bank based on our own considerable infrastructure needs, which amount to around $4.5 trillion over the next five years.”

Today Brazil and China announced that they will do business using each other’s currencies instead of using the U.S. Dollar – the world’s predominate reserve currency.

As the BRICS development bank matures, the members hope it will allow some of the world’s largest emerging economies to ignore and later supplant the World Bank and IMF.

Others are skeptical. .

Chief executive of the Johannesburg-based Frontier Advisory Martyn Davies said “I think there was too much hype around it”. Davies continued saying that the BRICS”are still battling to create the economic institutions to back their geopolitical rhetoric … the rhetoric is not supported by the substance.”

Where the World Bank has been largely the puppet of the U.S. and the IMF under the hand of Europe, the BRICS development bank effort is being largely pushed by China.

Many of the nations involved are economic powerhouses in their own regions, but the group is not yet a functional alliance. Many experts believe that for the bank to emerge as a global economic power, it will need to pull in new members from other emerging nations.

President Obama Heads to Brazil, Chile.

AP Photo  March 19: President Obama and the First Family emerge from Air Force One after arriving in Brasilia, Brazil

       President Obama is shown here arriving in Brazil for a 5 day trip to Latin America. in which he will also visit Chile. He will be meeting with the first ever female president of Brazil, Dilma Rousseff.  She was hand-picked by the former President known largely as Lulu. (Luis Ignacio Lula deSilva) While Obama promotes this trip as a chance to cozy up to the new President of Brazil to enhance trade agreements, in the belief that this former Lulu chief of staff will be any different than Lulu was in his mostly anti-American stances.

    For those of you unfamiliar with the Lulu regime, they decided that they would strike up their own diplomacy campaign with Iran, and also refused to condemn the human rights abuses occurring under tyrannical dictator, Ahmadinejad. Lulu basically thumbed his nose at the U.S. when he was asked to condemn such things as political prisoners being executed, and anyone opposing Iran’s regime was often met with swift brutality. To expect any real changes with the relationship between Brazil and the U.S. to come from this trip isn’t very realistic today, when we look at the following facts.

       First,  Brazil’s top trading partner is now China, which is still a Communist nation. While many Americans were disgusted with Obama’s administration dumping 2 billion dollars into Brazil’s oil exploration while imposing moratoriums on America’s own oil industry, this next bit of information should really get people asking just what is going on here? You see, in light of the new oil deposit discoveries in Brazil of an estimated 30 – 80 billion barrels, it is China, not the U.S. that has signed a huge deal that gives China 200,000 barrels a day for the next 10 years!  Either someone in our government dropped the ball big-time here, or Lulu/Brazil just decided he wanted to deal with China and shut us out of this deal. Either way, China will benefit from Brazil’s new oil discovery, not the U.S. That deal was signed between China and Brazil in… 2009, by the way. Yes, when Obama was President.

    Secondly,  Brazil is also a giant agricultural exporter, competing head-to-head with the United States. Its commercial cattle herd of an estimated 170 million head is the largest in the world and is 50 percent larger than the United States’ herd. That is quite a surprise there. Brazil is among the world’s top economies today, is relatively close to the U.S., and here America sits with no trade agreement with them whatsoever!

   Also of note is that Brazil is the largest economy with which the United States does not have a bilateral tax treaty. Noone expects Obama to deliver on the top policy wishes of Brazil, which consist of  a U. S. endorsement to allow Brazil to become a member of the U.N. Security Council and a reduction in tariffs on Brazilian ethanol. Another note of interest here is that while the Whitehouse announced that there will be an open interview session in Brazil during this trip, it has now been changed to no questions allowed, once again. Of course the Whitehouse says Brazil is the one that decided they wouldn’t take questions here. When is the last time we saw any hint of openness and real questions being answered by the Obama regime ?

    Obama should feel right at home with the new president of Brazil, as she is an extreme form of community organizer in which she was a Rebel, a left of center politician, is a former guerrilla, who was reportedly a torture victim, and also somehow considered to have been an economist. First and foremost, she is a hand-picked Lulu President and his former chief of staff, and there is no valid reason to think this isn’t just an extension of Lulu’s rule.

   Still, Rousseff showed no qualms about distancing Brazil from the United States over Libya. As a non-permanent member of the U.N. Security Council, Brazil was one of five countries that abstained from the vote Thursday that authorized a no-fly zone over Libyan air space. The other four countries not voting to enforce a no-fly zone over Libya were China, Russia, Germany and India. And she has not entirely abandoned the idea of maintaining a dialogue with Iran. Her stance has been to basically tell the U.S. to butt out of their dealings with Iran, it is none of  their business.

     With very little chance of accomplishing anything on this trip, we can always look on the bright side. It is appears to be nothing more than another week-long vacation for the Obama  family, to be paid for by the U.S. taxpayer. Everyone likes vacations, right?