BRICS Summit Declaration: Comments, Conspiracies and the IMF

We will be looking back at these two assessments posted in the past few days:

1) https://sovereignista.com/2024/10/29/the-brics-16th-summit-kazan-revisited/

and

2) https://sovereignista.com/2024/10/31/the-roadblocks-ahead-for-the-sovereign-harmonious-multi-nodal-world/

This is in relation to the new information on the IMF by Moscow’s representative at the International Monetary Fund, Aleksey Mozhin, serving for 23 years and the longest serving IMF member, where he says the IMF became a NATO tool and quit his IMF directorship.

https://www.rt.com/russia/606912-russian-rep-imf-became-nato-tool/
https://sputnikglobe.com/20241102/imf-has-blacklist-of-countries-subjected-to-discrimination—ex-director-for-russia-1120751060.html.

Let’s start with the first one titled The BRICS – 16th Summit Kazan – Revisited
This stated:  ” … the BRICS nations follow the same globalist agenda – as does the western world.”

The information given in that piece, I learned in the conspiracy world and there was enough truth to make it a worthwile conspiracy list if one spent the time to research the issues.  It was unfair commentary as each point was stated as fact without taking into account the conditional nature of the statements.  The statements are all conditional and this will become very clear if we look at the new news on the IMF.

Pepe Escobar in the 2nd piece listed above, took what was once conspiracies and outlined the factual part.

The Declaration:

• does not go against “global governance” and the “central role of the UN” – as much as the UN has been reduced to an empty shell, coerced by its dodgy deals with the World Economic Forum (WEF), WHO and NATO,
• does not go against the leading role of the IMF in global finance (which is our topic for today),
• does not go against the UN Agenda 2030 – redacted by the WEF and the Davos gang – for sustainable development supported by hazy “shareholders”, an euphemism for Big Pharma, Big Tech and Big Banking,
• does not go against the WHO and its “central coordinating role” in solidifying the “international pandemic prevention, preparedness and response system” – as in the next pre-planned/predicted pandemic is just around the corner,
• does not go against the dreaded UN Pact for the Future, which is essentially the softly softly implementation of the Davos-penned Great Reset.

My comments, both on the site and privately stated afterward were:  Who the hell cares?  The west is imploding and we can agree to all of those, and it will not make an iota of difference in the end analysis.  In the meantime, it will cause problems perhaps but we are dealing with a falling and failing and flailing empire.  If one deals with insanity, best to say yes and don’t wake them up but let them bury themselves.  Of course, Don’t pay the ferryman until he gets you to the other side, is implicit and subtext.

Specifically, let us take a look at the new information on the IMF.

First, what did the Summit Declaration state:  11. We reaffirm our commitment to maintaining a strong and effective Global Financial Safety Net with a quota-based and adequately resourced IMF at its center.

I am quite convinced that at the time that the Summit Declaration was written, Russia and China already knew the information waiting in the wings on the IMF.  Who did not know?  All we needed was for Mozhin to talk.  The IMF visited Russia before the Kazan summit.  Do you not think that those very same requirements were given to the IMF visiting group?

According to the outgoing Russian representative, the IMF “has become completely unfair in its assessment and analysis.” Mozhin suggested that there is a huge question mark hanging over the entity’s future.  

However, despite its perceived shortcomings at present, a body such as the IMF would still have a place in a new world order, provided that it “pays attention to and cares for the state of the entire global economy.”  That is the conditional statement. 

The IMF is there for developing countries.  If the organization can heal itself and do what the Kazan BRICS declaration specifies, it can survive.  If not, it will die or remain a western tool and a NATO weapon, with only a few countries as its client base and using a failing currency as its stock in trade.  Their clout is shrinking.  Their power is dissipating as BRICS grow.

If it fulfills the quota requirements and the conditions set by BRICS in its statement of support as stated in the Kazan BRICS statement, it has a hope for survival, as a BRICS-principled organization.  If not, it will die.

Hence it is easy for the Kazan BRICS declaration to say it supports an International Monetary Fund.   That is a value statement and simply says that BRICS knows that an organization such as the IMF is necessary.  BRICS has nothing to lose if one reads the requirements.  Why should BRICS denounce and make a big noise about the IMF?  BRICS is in the catbird seat.  It is listing the requirements and in negotiations, BRICS is setting the landscape.  There will be negotiations if there is an IMF to negotiate with.  Many of the BRICS countries have IMF loans or have drawing rights.  Should the IMF not come to the table and do what is required, we may see a run on the IMF to draw according to drawing rights.

As such, the Kazan BRICS summit declaration states its requirements, its conditions, for the IMF and also fulfills the role of a negotiating instrument.  Therein lies the juggernaut.

Pepe Escobar described the declaration as ‘not a revolutionary document; rather it is a letter of intentions for the whole Global South.’  I described it as a non-escalatory document.  In the IMF paragraph, it states intent, it states what BRICS wants, it states how to do it, and it does not state what will happen if the IMF does not fulfil the requirements or in the least, start negotiating.  In terms of the intent, the IMF has its marching orders from BRICS and those are Adapt or Die.