Where do people get the idea that BRICS Bank will be in USD? Using the USD label was a way to convey the net-worth of the investment being made in the bank, it's a bank that will substitute the U.S. Dollar for BRICS countries own currencies, and Cuban Oil has been making some headlines conveniently around the same time the BRICS bank was being established, which indicates there will be some kind of natural resource commodity bartering system within the BRICS system that will benefit the likes of Venezuela, Cuba, Iran, Zimbabwe, Syria...just about every country that the Pentagon want's to destroy and uproot.
Austin wrote:I saw wiki China is largest producer of titanium so I dont think Russia non supply will be critical.
...Wikipedia has a tendency to be misleading. While it's true that China produces the most titanium in the world, it's accounts for collectively produced by Chinese companies established around the world, Russia on the other hand has the largest titanium producing company in the world and the highest concentration of titanium in the world, we're talking about 25% of the worlds concentration of titanium, that's like the equivalent of the Saudi's share in the world Crude Oil market.
Here's the top collective producers of titanium in tons per year: China, Kazakhstan, Russia, Ukraine....3 of the top 4 are closely allied with each other (Russia, China, Kazakhstan), and Ukraine is in such dissolution economically and politically that's it's importance in titanium production will likely drop dramatically. If the U.S. is forced to rely on Chinese companies for their strategic military-grade titanium than that's a significant victory in it's self!