An excerpt:
While The New York Times focuses on the momentous issue of real estate sales in the Hamptons, Russia and China will build gold-backed currencies aimed at monopolizing the trade in mineral and energy resources, leaving America and much of Europe to freeze in the dark and sit on gasoline lines at the empty filling stations. For a while that will work to the East's advantage - until it becomes clear that the entropic contraction of industrial economies is for everyone as we veer into a literal world made by hand. That's right, sooner or later Russia and China will get theirs, too. But in the meantime they have the ability to make the story a lot more interesting.
There's plenty of suspense this Easter weekend as observers nervously await the breaking action, to find out how much the oft-cited fear of confiscation has penetrated the regional money centers around Europe. Slovenia, a fairy-tale republic somewhere between Austria and the Duchy of Grand Fenwick, has been nominated by observers as the place most likely to be whacked by EU treasure confiscators. It owes about 10 billion Euros to the EU entropy cloud, with exactly zero chances of meeting its obligations.
Meanwhile, at the fifth annual BRICS* summit, held in Durban, representatives from the five member nations began negotiations to establish a bank to counter the influence of the World Bank and the International Monetary Fund.
According to the MarketWatch article linked to above:
"Collectively, the five BRICS nations account for 42% of world population, 20% of output, and nearly all of current growth in the global economy."
(*BRICS: Brazil, Russia, India, China, and South Africa. Formerly known as BRIC until South Africa joined the bloc in 2010.)
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