BRICS Inject Capital into I.M.F. Basket of Currencies
In my previous post I briefly explained how China was in the process of assuming the liabilities of the Federal Reserve, in addition to their already held liabilities of the U.S. Treasury. Such a strong statement will require even stronger evidence. This I will attempt to achieve over this multi-part essay.
“The legislative process is underway right now. We want the reforms to be adopted expeditiously. It’s really the U.S. Treasury, Jack Lew and his team that’s taking the lead on getting these measures through the U.S. Congress that are required to implement the 2010 reforms.”