The future problem of the regional banking

After publishing my "Bank of South", "Next to new currency" and "Broken globalization 1.0" posts I think that this article is worth to read:

"Bank Of The South: A potential new challenge to hegemonic global finance and its monetary terrorism" by Dr. Mehdi S. Shariati.

The name of the future problem is debt/credit/investment nature of banking.

"Is there a lesson to be learned from this recent development? Is it possible to have rising independent regional banks such as Banco del Sur to enter intra- and inter-regional agreements on extending credits and planning?"

Maybe it is early to say, but imagine they will solve all the regional problems and what next?

"The very idea of the Bank of the South is both a rejection of global capitalism's hegemonic economic policies over the South and a rejection of the "austerity measures" imposed by global capitalism through its supranational financial organizations such the International Monetary Fund (IMF) and the World Bank (4)".

"Because of this the new Bank of the South needs to move aggressively in two important directions -- expanding ties outside its own region (a Latin American Bank presence in the Middle East and vise versa), and as a competitor to the well-established lenders such as the IMF and the World Bank. Expansion outside its own region would allow it to tap into overseas capital markets, thereby increasing its presence on a global stage, and competition with the IMF would accomplish two goals -- forcing the IMF to revisit its policies, while through its successful competition increase its earnings (albeit modestly) for further expansion".

The globalization 1.0 was broken down because the USSR used in principle the same banking model that others have. Yes, interest was not private, but planning was big corporations/ministries oriented, not project oriented (except the few ones - space ...).

Corporations or collaborative projects in networks as business entities and debt/credit/investment money or money for exchange are the questions to find answers.

We will see what changes the elections in Russia and in the US will bring.

Good made video:



Who finances Barack Obama?