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Is Germany Moving SWIFT-ly To CIPS?
Is Germany Moving SWIFT-ly To CIPS?
The Federal Reserve Note (FRN), U.S. dollar is under attack in a variety of ways. We have been documenting the astronomical growth of the yuan backed futures oil contract and how this is going to impact the FRN and the American economy. We have also pointed out that Russia has dumped approximately 82% of their entire U.S. treasuries and Turkey recently announced they will be offloading approximately 50% of their treasury holdings.
At the most recent BRICS Summit, held in July, one of biggest take-aways was the fact the BRICS alliance was in talks with Turkey and the possibility of Turkey, which is a NATO “partner”, could join BRICS! This is to say nothing of China, which heads the BRICS alliance, is also in talks with Argentina and Venezuela.
Now we learn that Germany is on board with moving away from SWIFT and the “trade wars”, sanctions against Russia and President Trump forcing NATO “partners” to pay up. President Trump’s actions have pushed Germany away from their alliance with the U.S.. The German / Russian partnership is very important to the overall German economy and Trump’s recent demand that Germany stop doing oil business with Russia seems to have pushed them over the edge. There may be more at play here, but most all geopolitical issues in the 21st century boil down to oil, oil production and how to get the cheapest oil possible.
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Schadenfreude – How the US Is Helping China Create a New Financial Order
Schadenfreude – How the US Is Helping China Create a New Financial Order
Here we have an image of a Chinese banknote, featuring Chairman Mao, followed by a seemingly incongruous German word – schadenfreude. Is there an error here?
Happily, no. We’ll begin with the word, schadenfreude, which means “harm-joy.” It’s used to express an occurrence that’s destructive, yet brings about happiness.
This would seem to be a conflict in terms, but, looked at a bit more deeply, it could be said that the killing of an enemy may mean that peace will soon prevail – and so the event brings happiness. Or, another analogy: the bulldozing of an old structure may mean that a new one – a better one – will soon be under construction.
And that’s the case here. The world’s most powerful (and most oppressive) political/economic power structure has begun to go under the bulldozer. Its replacement will hopefully be a better one.
The Brussels SWIFT system is currently the largest economic settlement system in the world. Almost all financial transfers are made possible through this system. As such, those who control SWIFT have the power to threaten financial institutions and sovereign nations that, if they don’t do as they’re told, can be denied access to the system.
The controllers of SWIFT have been far from fair in making these judgements. Much of their agenda has been provided by the Organisation for Economic Co-operation and Development (OECD), a cabal made up of many of the world’s most powerful nations, but primarily Europe and the US. The US is the heavy here and they’ve used their power to create FATCA, a means of applying draconian economic pressures on their own citizens. In doing so, they’ve also succeeded in creating a global shakedown racket aimed at financial institutions. If a bank anywhere in the world is found to have a US citizen as a client and the bank fails to regulate that client sufficiently, the bank itself is “held up” – the US imposes a massive fine on the bank.
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China Completes SWIFT Alternative, May Launch “De-Dollarization Axis” As Soon As September
China Completes SWIFT Alternative, May Launch “De-Dollarization Axis” As Soon As September
One of the recurring threats used by the western nations in their cold (and increasingly more hot) war with Russia, is that Putin’s regime may be locked out of all international monetary transactions when Moscow is disconnected from the EU-based global currency messaging and interchange service known as SWIFT (a move, incidentally, which SWIFT lamented as was revealed in October when we reported that it announces it “regrets the pressure” to disconnect Russia).
Of course, in the aftermath of revelations that back in 2013, none other than the NSA was exposed for secretly ‘monitoring’ the SWIFT payments flows, one could wonder if being kicked out of SWIFT is a curse or a blessing, however Russia did not need any further warnings and as we reported less than a month ago, Russia launched its own ‘SWIFT’-alternative, linking 91 credit institutions initially. This in turn suggested that de-dollarization is considerably further along than many had expected, which coupled with Russia’s record dumping of TSYs, demonstrated just how seriously Putin is taking the threat to be isolated from the western payment system. It was only logical that he would come up with his own.
There were two clear implications from this use of money as a means of waging covert war: i) unless someone else followed Russia out of SWIFT, its action, while notable and valiant, would be pointless – after all, if everyone else is still using SWIFT by default, then anything Russia implements for processing foreign payments is irrelevant and ii) if indeed the Russian example of exiting a western-mediated payment system was successful and copied, it would accelerate the demise of the Dollar’s status as reserve currency, which is thus by default since there are no alternatives. Provide alternatives, and the entire reserve system begins to crack.
…click on the above link to read the rest of the article…
