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RE: Jubilee Shockwaves To Continue Throughout This Fall

in #money8 years ago

The idea is to weaken anything associated with the West in order to build up the rest of the world. That’s one reason the BRICs were created (by Goldman Sachs)

Come on. Brazil, Russia, India and China were already countries before GS invented the BRICs acronym.

A more plausible explanation is that Goldman coined the term BRICs as a marketing device to sell asset management products. At one point their BRICs fund managed nearly $1 billion. Now that fund has closed down because it lost money for so long and because the BRICs aren't sexy anymore.

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