In an “article” which is clearly not journalism and can only be seen as riding shotgun to NATO countries’ stepped-up attacks on South Africa, China, Argentina, and other BRICS-aligned nations, the June 16 Wall Street Journal furiously threw a mound of fake-news manure at the BRICS New Development Bank (NDB). “A Bank China Built To Challenge the Dollar Now Needs the Dollar” is a wild insistence that Wall Street rules and Wall Street power applies universally in all circumstances, and therefore the NDB must fail—in fact, the Journal breathlessly informs that it is “struggling to survive.” (https://www.wsj.com/articles/a-bank-china-backed-to-challenge-the-dollar-now-needs-the-dollar-d9dc27ee )
The Journal has become an international leader recently in breaking “bombshell” stories which are false and from which other mainstream media soon back away. But this one is in its own class. Exemplary is a particularly contorted section in which the writers try to say that new NDB President Dilma Rousseff, a former President of Brazil, has been freshly charged with multiple crimes of corruption in Brazil since her March 2023 appointment to head the NDB. (In reality, charges were made against her nearly a decade ago, used by Wall Street to run a coup against President Rousseff in 2016, and were disproven.)
Otherwise, this voice of Wall Street just vented its desire to destroy the bank which is at the center of motions for a “de-dollarized” credit system. “It is close to bankruptcy,” claimed writers Alexander Saeedy and Lingling Wei; moreover, it is not lending, “it’s a zombie bank"; it and the Asian Infrastructure Investment Bank (AIIB) are corrupt; it is paying higher interest rates to issue bonds than it would if it dealt exclusively in dollars (!); on the other hand “it is fighting for its very survival, threatened by its dependence on the U.S. currency” (!!); and “Wall Street [is] wary of lending to a bank almost 40% owned by Russia and China.”
