"The bank’s two key entities – a New Development Bank (NDB) and a Contingent Reserve Arrangement (CRA) – are designed to form a developing world alternative to the two institutional bulwarks of the “dollar zone”, the World Bank and International Monetary Fund (IMF)."It'll either be the renminbi or, hopefully, gold.
Monday, September 29, 2014
Federal Reserve
BRICS advance their competitor to the dollar.
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