How do you know a dollar collapse is coming? Because the rest of the world is preparing for it.
Western allies are flocking to join the new China-led Asian Infrastructure Investment Bank (AIIB), while the United States and World Bank sit on the sidelines and lecture them about "appropriate" financial governance.
Reuters reports:
The United States has urged countries to think twice before signing up to a new China-led Asian development bank that Washington sees as a rival to the World Bank, after Germany, France and Italy followed Britain in saying they would join.
The concerted move by U.S. allies to participate in Beijing's flagship economic outreach project is a diplomatic blow to the United States and its efforts to counter the fast-growing economic and diplomatic influence of China.
Europe's participation reflects the eagerness to partner with China's economy, the world's second largest, and comes amid prickly trade negotiations between Brussels and Washington.
"I hope before the final commitments are made anyone who lends their name to this organization will make sure that the governance is appropriate," Treasury Secretary Jack Lew told U.S. lawmakers.
It seems many countries are growing tired of the U.S.'s arbitrary economic sanctions, playing politics with the SWIFT system, dollar manipulation of commodities, strangling IMF and World Bank debt with unequal representation in those institutions. Not to mention the ruthless violence used to protect this racket.
China is tired of waiting to be granted more power in international banks so they're creating their own opportunities around the world. They're involved in creating the BRICS development bank, an alternative to SWIFT, building a canal in Nicaragua to rival the Panama Canal, and now this new Asian Infrastructure Investment Bank (AIIB). In other words, it's on.
"If you try to fight the rising power's peaceful ascent you sow big problems in the future," Fred Bergsten, a former official at the U.S. Treasury and currently a fellow at the Peterson Institute in Washington told Reuters.
Over the last few years US-imposed sanctions have had less and less effect as nations find ways around them. These new systems will make sanctions essentially worthless, and the biggest losers of sanctions may end up being US companies who're prohibited from trading in certain parts of the world.
http://www.activistpost.com/2015/03/us-warns-allies-not-to-join-china-led.html
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