Thursday, April 14, 2011

BRICS calling for a revamped global monetary system

FutureMoneyTrends.com

The BRICS (Brazil, Russia, India, China, & South Africa) came out with a statement calling for a revamped global monetary system that relies less on the U.S. dollar. Meeting on the Chinese island of Hainan, the group agreed to establish mutual credit lines denominated in their local currencies, NOT in U.S. dollars.

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