China and India are the #1 and #2 consumers of Gold on the planet, and South
Africa is the largest producer of Gold in the world.
It is speculated by some economists/analysts that Gold will
likely form some type of role within the new unified BRICS banking system.
Experts to Meet on BRICS
Development Bank ...
Aug 7/12 - More clarity on the establishment of a joint Brazil, Russia, India,
China and South Africa- (BRICS) led development bank is expected after next
week’s meeting of a panel of experts on the issue, South African ambassador to
BRICS Dr Anil Sooklal said on Monday .......
Speaking at a South African Institute of International Affairs and University
of Pretoria BRICS panel discussion, he said that a group of experts from the
five countries were expected to meet in Rio de Janiero, Brazil, to outline the
requirements of a bank and conceive a possible roadmap to its establishment .......
BRICS Countries account for over 40% of the global population and about 25%
of the global gross domestic product .......
April 3/12 - The BRICS countries, who completed their fifth annual summit in
Delhi last week, have agreed to provide credit facilities to each other in local
currencies... permitting easier transactions and grants them freedom from
having to use fully convertible currencies for trade .......
The rise of emerging countries has taken a huge step forward with these
initiatives and brings home the importance of engaging in trade with the BRICS
Developing a BRICs strategy, and their cooperative agreements to further
develop and share in their economic strengths will have major political and
trade implications in shaping the world during the rest of this century .......