Gold & Silver Acceptance Growing as Distrust in US Increases

"“I believe the concept of a BRIC’s Bank is a good idea. The move to have more multi-lateral competition in the world is appropriate. The fact that it’s being backed by the World Bank is something the BRIC countries need to be worried about.”

Rick Rule continues:

“If you are going for backing from the institution you are trying to supplant, caution flags are raised. What I will be interested to see is how politicized the lending portfolio of the BRIC Bank will be. Certainly it couldn’t be worse for the world economy than the World Bank has been over time.

This whole situation is indicative of the fact that societies are increasingly distrustful of the United States and to a lesser degree, the West’s control of the world economy. This also points to the fact that there are arrangements taking place that will eventually deny the US of seigniorage..."

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/4/3_Gold_%26_Silver_Acceptance_Growing_as_Distrust_in_US_Increases.html

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US grip on World Bank challenged

"The Nigerian finance minister, Ngozi Okonjo-Iweala, and former Colombian finance minister, Jose Antonio Ocampo, are reportedly being put forward to replace Robert Zoellick who is retiring.

Ever since the World Bank was established at the Bretton Woods conference after the Second World War, an American has always led it. The understanding also upholds the traditional that a European always heads the International Monetary Fund, created in the wake of the same conference.

Leaders of developing economies have called for a break in the tradition but have so far failed to get enough support from other countries.

Sources told Reuters that Mr Okonjo-Iweala and Mr Ocampo have gathered support from key countries such as South Africa and Brazil.

Mr Okonjo-Iweala was managing director of the World Bank until last year when he left to become Nigeria's finance minister. Mr Ocampo was the former under-secretary for economic and social affairs at the United Nations (UN)..."

at  http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9158530/US-grip-on-World-Bank-challenged.html

BRICS prepares world banking revolution

"RICS member-states are preparing a world banking revolution. They are planning to nominate an alternative candidate for the post of the Chairman of the World Bank for the first time in history. BRICS also demands redistribution of quotas in the International Monetary Fund in the near future and intends to study India’s initiative on creating a South-South Bank.
Representatives of Brazil, Russia, India, China and South Africa proposed a reform of the world financial system at their meeting in Mexico City which took place during the conference of G20 finance ministers and heads of central banks.
BRICS financiers are annoyed with the private rule that the head of the World Bank is always a representative of the US. They believe that candidates should be assessed based on their merits and not citizenship. BRICS member-states are convinced that it is essential to create competition for the US candidate, either from a BRICS country or from Europe. It has been decided to prepare a declaration on a coordinated position on this subject in the next two weeks. Candidates for the post of the head of the World Bank should be determined by the 23rd of March.
On the 29th of March BRICS leaders are expected to launch the mechanism of coordinating opinions on India’s proposal to create a South-South Bank. It is to become a support institution for countries with developing markets. BRICS member-states will be playing the main role in it, according to the quotas of votes..."

at  http://www.voltairenet.org/BRICS-prepares-world-banking