President Vladimir Putin approved a new $100 billion reserve fund over the weekend that will specifically aid the BRICS nations: Brazil, Russia, India China and South Africa.

It's another step by the BRICS to build an alternative so they don't have to go to the United States or the International Monetary Fund for any financial help. BRICS leaders first agreed on the new fund -- seen by many as a power play against the west -- at a conference last July. The BRIC countries make up 40% of the world's population and about 20% of the world's economic activity.