– Russia To Have SWIFT Alternative By May (ZeroHedge, Nov 12, 2014):
As the West (US and its pressured allies) attempt to ‘isolate’ Russia more and more, the inevitable cornering further and further incentivizes Putin to develop alternatives to the status quo. In the past, western sanctioners have sabre-rattled cutting off Russian from SWIFT – the international inter-bank payment system – as a next step in squeezing the oligarchs into submission (though ‘independent’ SWIFT distanced itself from those calls). Now however, as RT reports, Russia intends to have its own international inter-bank system up and running by May 2015. The Central of Russia says it needs to speed up preparations for its version of SWIFT in case of possible ”challenges” from the West. If successful, this would pose a further challenge to the USD’s reign as sanction blowback reverberates once again.
2 thoughts on “Russia To Have SWIFT Alternative By May”
Putin is a genius. I sure wish he were on our side.
He created a sister economy that has caused 70% of the world economies to abandon the dollar in favor of his basket of currencies that make a world reserve currency obsolete. Canada and Qatar are the latest to dump the dollar.
I have no doubt he will succeed. I wish some of the idiots in the west would treat him with the respect he deserves and try to work with him before it is too late.
I have no doubt he will succeed. If I were twenty, I would emigrate east.
I have to snicker when I hear our idiot leaders talk about isolating Russia. Russia has done exactly that to us. He has 70% of the world economies on his side, his basket of currencies. Nations that have used the dollar in international trade for years are dumping the dollar.
Qatar, a member of the UAE, dumped it this week. A friend for years, Canada, did the same. We have lost most of central and south America. We have lost India, China, Russia, much of Africa, Turkey, Japan and others I cannot recall.
Even Germany, France and UK have joined a swap economy to get around the dollar by swapping. We are sliding downhill at such a fast rate, we cannot stop it, especially with the idiots in power.