Published time: 16 Apr, 2016
The BRICS New Development Bank (NDB) has approved its first
package of loans worth some $811 million. The four projects in Brazil,
China, South Africa and India are all in the renewal energy development
sphere. The decision to approve
the first loans, which are to be handed out in tranches, was approved by
the NDB at the board of governors on the sidelines of the International
Monetary Fund (IMF) and the World Bank spring meetings in Washington
DC, RIA reported
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| Jin Liqun, AIIB president |
AIIB and World Bank to work on joint projects
April 13, 2016 - ft.com
The
Asian Infrastructure Investment Bank has struck an agreement to
undertake joint projects with the World Bank as the China-led
institution attempts to counter the perception that it is a rival to
longer established multinational institutions. Jin Liqun, president of the AIIB,
told an audience in Washington that he expected the first projects to
be approved in June, saying that it was sensible given the risk and
scale of infrastructure projects to partner with the World Bank and
Asian Development Bank, as well as pursuing solo ventures.
China launched the AIIB
last year with 57 countries joining as founding members as Beijing
attempts to bolster its overseas influence. The move prompted misgivings
within the US over the potential for the institution to act as
competition to decades old US-dominated institutions.
China is refusing to make its new gold-backed Yuan
In a shocking move likely to crush the US economy overnight, China is refusing to make its new gold-backed Yuan, convertible from or to US Dollars. The new Yuan will be introduced next Tuesday, April 19.
When the International Monetary Fund (IMF) agreed to add the Yuan to the basket of world currencies used for Global Reserves and International Trade, they wanted China to make the Yuan more reliable as a currency. Since then, China has almost un-pegged its Yuan from the Dollar, allowing its value to fluctuate on world markets. But for years, China has been amassing huge amounts of gold bullion; some have said their appetite for bullion has been "staggering." And with a new gold-backed Yuan to be issued next Tuesday, the entire world will have a choice of a new currency to use for international trade: The old US Dollar which is backed by nothing, or the new Chinese Yuan, which is backed by gold. Which currency would YOU use?
Deutsche Bank Admits It Also Rigged Gold Prices, Agrees To Expose Other Manipulators
Submitted by Tyler Durden on 04/14/2016 22:48 -0400 zerohedge.com Well, that didn't take long......Earlier today when we reported the stunning news that DB has decided to "turn" against the precious metals manipulation cartel by first settling a long-running silver price fixing lawsuit which in addition to "valuable monetary consideration" said it would expose the other banks' rigging having also "agreed to provide cooperation to plaintiffs, including the production of instant messages, and other electronic communications, as part of the settlement" we said "since this is just one of many lawsuits filed over the past two years in Manhattan federal court in which investors accused banks of conspiring to rig rates or prices in financial and commodities markets, we expect that now that DB has "turned" that much more curious information about precious metals rigging will emerge, and will confirm what the "bugs" had said all along: that the precious metals market has been rigged all along."