“We will discuss the creation of structures and mechanisms for lending in local currencies in order to maximize economic and financial transactions between the countries that are members of the accord.”-statement from Brazil’s development bank BNDES

The BRICS are about to lead a new Revolution; no more U.S. dollar!  It’s being spearheaded by the Chinese Development Bank.

BRICS members (Brazil, Russia, India, China and South Africa) are about to institute a new World Lending system that will not require the use of the U.S. dollar!

Reports say the new system will be signed into operation by BRICS members on March 29, 2012.  It will deal in not only the Chinese Yuan, but in local money as well.  Currently most international lending systems require loans to be made in U.S. dollars.  That’s because the major lenders, the IMF and World Bank, are actually run by the United States.

In response (yet not really explained by the main stream U.S. media why Clinton is making such a statement) U.S. Secretary of State, Hillary Clinton, is demanding China explain itself: “Given the historic challenges to security and stability posed by rising powers, they do have a special obligation to demonstrate in concrete ways that they are going to pursue a constructive path.”

Clinton’s statement shows just how paranoid the U.S. government is of China.  But, oh well, surveys show many of the citizens of the U.S. are also paranoid of China!  This new international lending agreement with the BRICS will only prove to the paranoids that they are justified in their fear.