Market Realist posted a video "Why the long-term prospects for the BRICS network are positive" on VIMEO

Read the full series at: marketrealist.com/2014/08/must-know-brics-drifting-away-u-s-european-monetary-structures/The BRICS countries (Brazil, Russia, India, China and South Africa) are slowly but surely drifting away from the 20th century western monetary and political structures. The leaders from this group of nations recently met for the sixth annual BRICS Summit in Brazil.There have been a slew of recent moves within the BRICS network:China is diversifying away its U.S. dollar exposureCreated a new development bank for BRICS membersEstablished a bailout fund to address economic crisesForged a bilateral inter-bank agreement to deal in local currenciesAnnounced plans to create a new credit rating system to counter the Western agencies.China and Brazil finalized a local currency swapRussia and China inked a $400 billion, 30-year natural gas partnershipIn this video we focus on the first three.For additional macroeconomic research, visit marketrealist.comCast: Market Realist