Executive Intelligence Review
Subscribe to EIR


BRICS Post: Economic Crisis Driving War Danger

June 29, 2015 (EIRNS)—"The Moral Imperative of the BRICS" is the title of an article posted today in the online independent daily BRICS Post by Rahul Manchanda, which locates the corruption and failure of the IMF/World Bank as the driving force behind the extreme danger of global war, and the BRICS process as the only solution.

"The stranglehold that the IMF and World Bank wield over the world has given rise to impossible debts to be paid by Second and Third World nations,"

Manchanda writes,

"stunting of economic growth in the wake of stringent austerity programs, leaving 99% of the world’s wealth in the hands of a few plutocrats/oligarchs. A by-product of the above is the resulting currency wars, which are now bringing us all dangerously close to nuclear cataclysm, with the aggressive advancing of NATO in Ukraine to Russia’s borders, and with the Greece-EU standoff which is now pushing Athens closer to the BRICS format of doing business."

He targets the collapse of the United States:

"But there has been a marriage of corporate/banking interests with government in the U.S., resulting in a fascist, dictatorial, insensitive federal and local government, supplanting the people and their human and civil rights with the awesome power and cold-bloodlessness of an authoritarian state. Families have been destroyed, race relations are at an all time low, division is endless and increasing, and the people are literally at each others throats, all under the watchful but indifferent eyes of the state."

Manchanda identifies the

"repeal of the 1933 Glass-Steagall Act in 1999" as the point at which "America’s fate was sealed."

Against this disaster is the hope offered by the BRICS:

"The BRICS banking paradigm offers a refreshingly soothing and exciting alternative to this out-of-control octopus of global banking strangulation currently put in place by the IMF. BRICS also offers a way out of the legacy of European colonialism which has plagued the planet for the past few hundred years, wherein mostly brown and Third World nations are literally under the enslavement and yoke of their European financial masters."

He concludes:

"It is incumbent upon Washington to join the BRICS financial institutions."