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Russia To Have SWIFT Alternative By May
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.
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.
"Given the challenges, Bank of Russia is creating its own system for transmitting financial messaging... It’s time to hurry up, so in the next few months we will have certain work done. The entire project for transmitting financial messages will be completed in May 2015," said Ramilya Kanafina, deputy head of the national payment system department at the Central Bank of Russia (CBR).
Calls not to use the SWIFT (Society for Worldwide Interbank Financial Telecommunication) system in Russian banks began to grow as relations between Russia and the West deteriorated over sanctions. So far, SWIFT says despite pressure from some Western countries to join the anti-Russian sanctions, it has no intention of doing so.
Ramilya Kanafina says the system will meet all the market requirements due to its security. A center for processing messages in SWIFT format is in the process of development. It is expected that all messaging options will be operating by December 2014, she added.
The National Payments Council, a non-profit partnership comprising members of the Russian national payment system, proposed establishing a Russian version of SWIFT 100 percent owned by Bank of Russia in September.
SWIFT, is currently one of Russia’s main connections to the international banking system, and if turned off, could hurt the Russian economy, in the short-term. Globally it transmits orders for transactions worth more than $6 trillion, and involves more than 10,000 financial institutions in 210 countries. According to SWIFT’s statute, the system has national groups of members and users in each country. In Russia it’s ROSSWIFT - the second biggest worldwide SWIFT association after the US.
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Just another step towards de-dollarization and a shift in the unipolar status quo.
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Can Iran join it?
The Nobel Prize Winner will be so angry that he will drone a few more hapless women and children. And a wedding party, or two.
Obama is carrying out his programming, the eventual destruction of the US economy.
If they hire some Russian mafia types and Indian programmers, they can probably have it up in a couple of weeks. It would be a SWIFT kick in the ass to Obama, Lagarde, et al.
I think they aren't ready by May, but that things get interesting by the fall. Putin is ust saying, "Check, mutherfucka." It seems like it is all part of the endgame for King Barry the Last.
You have obviously never worked with Indian programers...
You young folks seem to forget that the Russians have excellent academics. They really could do this all by themselves.
This is demonstrated by the plethora of useful products and services the Russians offer to the international comunity. Such as...
HAHAHAHAHAHAHAHA "Academics." I get it.
Listen moron I have said this before. The Russians dont need to produce low cost thin margin products like phones etc. Their labor force is well distributed in military industry which they need to keep NATO/HATO at bay, at the same time they sell some of their products and make good money. Likewise another major portion of their workforce is in natural resources and refining, again good profitable businesses. Keep in mind their population is 140 million people only, less than half that of the USA. So a-hole you may not see a russian phone at walmart but as you have been reading their news you can see their subs and jets and ships defending their country or being used by other countries to keep HATO at bay.
So War.
How Russian Culture Enables Vladimir Putin’s Global Aggression
http://thefederalist.com/2014/11/12/how-russian-culture-enables-vladimir-putins-global-aggression/
No Defense from NATOs wars idiot, havent you watched the news the past few decades
Russian jets and subs and tanks and AK47s are in demand around the world and have better profit margins than the plastic blow up dolls you want to see in your American stores.
Their miltary stuff also sells in industry, like their helicopters are workhorses around the world for many businesses. Sukhoi superjet is jet plane for medium distance routes, Russian food products can be found in many international stores and are top quality and yummy stuff, they build and launch satellites for many countries and businesses .. etc. All highly skilled labor stuff.
So Russia with a GDP below that of Italy and a leader proven to have authoritarian tendencies is going to absoulte DOMINATE the world with it's alternitive digital exchange network thereby dooming the dollar because "rocketship."
The pethetic zerohedge Russian fanboysism is just sad.
8 Italy $2,129 2.7% 9 Russia $2,057 2.7%So you are telling me what a phenomenal value Russia is getting for its GDP. Russia can tell the USA to fuck off while the Italians have to lick the sweaty balls of the F16 pilots that cut the cables on the Air Tram that sent 30 some odd Italians to their deaths a while back, when they were flying their jets lower than they were supposed to cause they were hot dogging it. Hey the USA loves to stick its hot dogs up the EU's ASS. Not to mention the Italians couldnt even prosecute the pilots, they just had to swallow. Pretty pitiful for the number 8 GDP country in the world. WHile Russia at number 9 can literraly turn off the lights for the entire planet Earth.
http://en.wikipedia.org/wiki/Cavalese_cable_car_disaster_%281998%29
What a shaft up the ass for the families, they only got 65K for their dead family member.
Now I would love to see the USA planes try that in Russia hmmm. You know what will happen right, they will get slapped down so fast that they wouldn't even know what hit them.
Maybe we need a new index, TLO turn the lights off index. What country rates as being able to turn the light off on the entire planet earth. Even Israel would rate much higher than the Italians on that one.
You are a prissy little bitch.
You must be from Lawrence, are you still pissed at Quantrill's Raiders.
I agree completely. As much as people think Putin is a hero, he is actually a scumbag. Religious freedom in Russia? Forget it. Try to open a business in Russia as IKEA has tried, forget it. Curruption at every level. It's a thugocracy. Small business muscled down for extortion all the time. No competition is allowed either.
Hay, what would happen in that new swift system gets hacked? Hmm. What if it loses all credibility?
Sorry, you under estimate Dollar, Inc and "The Boys".
And Obamacare is ...
Regards,
Cooter
Been rampin up on the GMO intake I see....
Kansas,
Here's GDP by (PPP), where RUS is rated higher than ITA. The RUB is heavily discounted vs USD and the EUR.
RUS is also better off than ITA when it comes to Govt Debt per GDP as well.
You haven't been paying much heed to all the talk about Russia from the Gold, Silver, Oil, and Gas Fans - not to mention the Anti-NWODominionists here.
worthless
what global?
You have called the guy a Moron, and A-Hole and an Idiot in your last few posts.
You sound like a 14 year old meth head when you talk like that.
Well he talks like a troll so why should I give him any respect.
Cosmos describing troll close enough
No you don't.
This is demonstrated by the plethora of useful products and services the Russians offer to the international comunity. Such as the rocket engines USA buys from them. here I fxed it for you, shilly boy.
This means American will be able to open bank accounts overseas right?
God bless Russia if Indians are writing code.
How do you think the US is getting to the international space station these days, Biggy?
Russia produce excellent trampolines. By which American astronauts will now jump to the cosmos.
There can be no peace in europe until putin is dead
What is it with this J-mafia contolled media message and stuff coming out of the USA sponsored NGOs about having Putin dead?
Not only is it low class but its extremely dangerous to be threatening a guy that can knock America clear off its feet if he wanted to, he is no Saddam. It really shows what the USA had become, a VIOLENT Bully on the international scene that will KILL if it cant get its way. Go USSA. Just shows the world what punkasses you are. If you cant rape a country by doing a coup or enslaving it to the IMF, you put out wanted dead messages on your J-mafia controlled mass media. I mean we all know the USA is run by the J-mafia, and they get the biggest cut of any USA regime changes.
Bitter cause your inside clan oligarch boys funded by the Red Shield lost out on control of the country with the biggest resources it the world. You little schmucks play a dangerous game and you are going to get badly burned by it.
simpleton
So Hasbara, you are working for the tribe as a Jew or a stupid goyim?
FAQ: Why so many down votes ?
Answer: At ZH the down RED arrows are used not only for expressing dissacord with some dude's post, but also for identifying trolls. It works like this: the more reds you collect, the dumber you are when compared to the average (cloud ?) intellingence of the ZH readers. This way it's really easy to see not only how well you fit in within the ZH crowd, but also what to expect in the future...
There can be no peace in europe until obama is dead
And Churchills second law applies.
Nothing strategic is ever announced by any Govt., until its already up and running.
Bye bye SWIFT.
Yep, bank transfers aren't very hard and there are plenty of examples to copy. I wouldn't be surprised if China and Russia hackers hadn't stolen the actual swift code.
Russia doesn't even need this, but it's a good jab at the NWO that's decided to attack them. They have enough trade partners who would gladly act as banking agents for them.
Russia is highest in world education. 54% Russians have higher education.
Russian programmers are much better than Indian programmers.
Yes Look TopCoder rankings
30 of top 50 are Russian
Link or Reference please.
TopCoder rankings http://community.topcoder.com/tc?module=AlgoRank
Now is 19 Russian changes often several more Chine now than past
Petr Mitrichev http://en.wikipedia.org/wiki/Petr_Mitrichev
Very interesting site, thanks for link
Russian programmers are MUCH BETTER, than Indians.
This is not some prejudice, but experience.
Also look at all the big budget games Russia is producing.
Plus they don't stink up the place.
One stupid wog I worked with tried to bar-b-que a goat, hair and all, in the company microwave. Place smelled like a combination of skunk and decayed road kill.
Barry was last seen in the 'wives club' section of the foto.
Next up? ~ The kiddie table at Thanksgiving dinner.
that is just ZH propaganda ... there were many photos, this was only one of those. on the main photos POTUS was always at the center ... none dares to mess with US ... remind the canadians
"on the main photos POTUS was always at the center"
So does that mean that the village organizer fancies himself more 'the policeman' or 'the indian'?
http://thenypost.files.wordpress.com/2014/05/t791357_01.jpg
If he fancies himself as either, he disrespects someone more authentic than himself, by associating himself to them.
Proof?
Kiss the "Sanctions" option goodbye. Will now go directly to military action for any global issues. The Rabbit Hole is deeper than I tought.
All together now, "Thank you Mr Obama".
Hopefully, the loss of the dollar as the world reserve currency will immediately run the US military out of money. Then we simply can't have wars. We will finally enjoy peace, but the 90% here will be broke.
Obviously you do not know who Russian mafia is...
or have experience with Indian programmers
Yes, their system will be... FAST.
Americans will be able to use it in place of SWIFT, and be free of Big Bro scrutiny overseas. No IRS supervision.
That should adversely affect both US Capital and VoM.
Do the Rothschilds have their grimy claws in the Russian Central Bank? If so then this is a nothingburger. If not, well I think I heard from Rita Katz that Russians were taking babies out of incubators in the Ukraine.
pods
I am sure North Korea is first in the queue.
While Im sure the Russians can crib the design notes for current SWIFT there is a bit more to it.
It takes years to build a bulletproof system, get ready for some crazy fraud happening
You also need everyone subscribing, and yeah, you could use the same message types to minimize training, but its like building a train, but you have not laid down tracks.
Anyone and I mean anyone that has delt with Russian banking knows this will be Bizzaro. Same goes for Russian version of VISA....etc.
Their "modern" banking system is something out of the late seventies and early eighties.
Nine women cannot have a baby in one month.....but hey they can try.
.
The real magic lies in its Architecture, not in the lines of flunky code writers.
They have academics and hackers. The former to build it, the latter to crack and shake it. I suspect that the Chinese are also involved.
And, unlike 'Merica, 100% of their high school freshmen CAN read, are bilingual or trilingual, and can point to all sorts of countries on the map.
Hubris plus unchecked greed are the downfall of all empires.
TopCoder rankings
http://community.topcoder.com/tc?module=AlgoRank
Now 19 Rus changes often more Chine than before
Petr is still #1
http://en.wikipedia.org/wiki/Petr_Mitrichev
Oh yeah Karlus like the western financial computer systems are bulletproof lol. Are you for real???????
"Catch-up path of development" does not require years to copy SWIFT, a car or a drone.
Bitcoin exists today.
Hahaha that will teach them for threatening Russia with SWIFT.
US dumb arses.
Yep, this will have a direct link to china. As in a directly line, laid right next to the new gas lines.
This reminds me of the bully on the playground that comes back from summer a bit too fat, while 3 other kids he was picking on grew up and forned a gang.
Bully dollar is going to get a taste of it's own medicine.
A lot of people world wide will welcome an NSA and IRS free banking system.
Internet and phone systems disconnected from western eavesdropping is next, you can be sure.
if you play games with russia first you have to know how to play
fken kids
Obama's Milton Bradley Mouse Trap board game is broken.
http://m.youtube.com/watch?v=Pk1ue1tolFc
Competition in a market?
How capitalist!
Obama will draft a Executive Order, Global financial community will just laugh in humor.
Hey, you didn't build that quote will echo in history books
Global Getto Currency Exchange.
This will be the end of the dollar, should it actually come to pass.
it seems certain, it has been talked about for few years now, and i am sure all is already in place ... but why the end? are they so important to the world economy? doubt it ... the chinese are doing all these deals and nothin is happening
so exceptional
Why? In a word, demographics. Put the BRIICS together and you have over 75% of the earth's population. Please, demographic determine everything. How silly are you? Sure, English may be the "official" language in South Texas, but you sure as hell don't hear a lot of it when you are down there.
never been to south texas ...
Que? En Espanol, por favor. No hablo Gringo, y no hablo Ebonics.
;-)
There is no official language in the USA. UK neither, except for Wales.
Cant they use Hundi?
Upvoted for your knowledge of obscure, esoteric financial instruments. But the US govt. may call you a financial terrorist for knowing how to bypass Swift.
Im flattered...
But actually its a common knowledge among the third worlders who work cash and have no bank accounts :)
However, .govs have been trying to regulate it also. All Hundi agents need to register their clients and keep copies of thier ID, but still it can still work if one really wants to.
I think it works on the same principle as SWIFT but without the electronic communication, just like in the Good old days: "When you get to the xyz town, go to this address and ask for this person and show him this receipt and he will give you the said amount"
http://en.wikipedia.org/wiki/Hundi
Sort of like the Knights Templar did back in the day.
Receipt = letter of credit. Scrip. Bonds. Debt currency. It's all the same. Take this piece of paper in lieu of like-for-like goods trading; don't worry, it is redeemable in goods with those guys over there (or at least, other pieces of paper, with the implication for redemption down the line somewhere). It's not an IOU. It's a, "Someone-Else-Owes-You".
Yes, but also it was means for transfer of money.
Deposit your money, Gold coins at city A and withdraw them at City B, avoiding the risk of carrying while travelling.
Aka "Hawala" in Arabic cultures.
Whitey does not have this any more. Not since we've had Central Banksters, who've outlawed all competition, by labeling it as "criminal". Talk about who's calling the kettle black.
B..B..B..But....But Martin Armstrong said that the USD woud be the last currency to fall and..
Oh never mind...
Jim Sinclair descibes it very easily
http://www.youtube.com/watch?v=5SRNZaNQBs4
Good concise video worth watching
BRICS Bank going online in 2015 as well. 2015 may be the inflection point.
+ SDR Revison Meeting on 15th. Sept. 2015 ... according to James Turk.
Just what I need...another "hold gold by this date" announcement. These guys know that every ounce of gold in deep lake storage makes their ounces more stronger to leverage, regardless of price. I have to admit, I didn't expect "The Revolution" to feel like a gut punch at regular daily intervals. Trading mining stocks is an exercise in riding down losses by expanding the number of shares, like pouring soup from ladle to ladle to ladle to ladle. Again, still a loss, a loss is a loss. I'm a fuckin revolutionary ma, and I have the losses to prove it.
Would anyone like to Invest in the Oak Island dig? ;-)
I hear that initially it was to contain a hidden pirate treasure, but with falling gold prices, "experts" now think that it's the resting place of either the Holy Grail or the Arc of the Covenant.
p.s. The former has been missing for almost 2000 years, and the latter since about 600 BC -- which is also about the time that the 12 Tribes stopped worshipping various gods, and settled on the war god Elohim, aka YHWH (which is THOUGHT to be pronounced 'Yahweh' or 'Yehowah', since they did not use vowels and "dared not" write or pronounce "God's name").
pps. You'd think that the foolish investors of the Oak Island dig would just use Oil finding tech -- 3D Imaging Seismographs -- to 'see' what the underground looks like and where the water leaks are coming from. "A fool and his money..."
Actually, given the number of hacking successes of the Western financial system - especially ones originating from Russia - the Russians seem to know MOAR about how such financial systems work than do the Western programmers.
Russia's ruble dives as central bank lifts trading band
Country heads into recession as sanctions bite and falling oil prices cut export earnings
http://www.cbc.ca/news/business/russia-s-ruble-dives-as-central-bank-lif...
The weak rouble will improve Russian exports.
The cheapest car in America the Nissan Versa costs $14,000 with taxes.
Russian Ladas now cost about $6,000.
Perfect car for college kids and broke college graduates, or someone going into bankruptcy, as the low street price (of used Lada) falls within the limits of car value one is allowed to have during bankruptcy.
Obama and Detroit will be quick to ban their import, on some bullshit "Compliance" issue. Maybe if their final assembly takes place in Mexico, next to the VW Beetle factory...
Check out the Chevrolet Niva Concept. As goes GM goes... oh wait. The 1st generation were kinda ok, we called them sneevas.
yeah right just like in 1998 ;)
They got so weak ruble that defaulted :)
"As the West (US and its pressured allies) attempt to 'isolate' Russia more and more...."
More likie the US has been a Parahia for the last 50+ years and the world is finally sick of us, so the world is turning it's collective back on us.
'bout time.
Tjeff1
Yes but a bank has to have money going into it, not a bunch of debtors lining up to withdraw money.
Brazil is going down the tubes.
Russia will be hurting if oil goes to $50 a barrel (or less)
India isn't doing so hot and class warfare is going to break out soon.
China is trying to have a soft landing. Good luck with that.
Maybe Argentina or Venezuala can pony up the funds.
Russia needs $96 per barrel to balance their budget.
Every oil exporter will "hurt" at below 60. How fast they shut in and cancel exploration and development usually has a greater impact on the bottom line when prices rise again. The ones that see through the smoke and can stick to the development plans will do well as usual. Exploration will lag.
Russia works with everybody....all partners in crime
http://newworldorderg20.wordpress.com/2014/11/11/reprint-article-article-being-deleted-on-net-gazprom-buys-europes-biggest-underground-gas-storage-facility/
http://newworldorderg20.wordpress.com/2014/11/10/japanese-satellites-launched-from-dombarovsky-military-base-in-southern-russia/
http://newworldorderg20.wordpress.com/2014/11/08/u-s-russia-cooperation-in-science-top-priority-of-course-are-you-crazy/
http://www.publicintegrity.org/2014/09/02/15450/russian-bank-hires-two-former-us-senators
http://newworldorderg20.wordpress.com/2014/11/07/jpmorgans-deal-with-gazprom-cements-thier-relationship-of-course/
http://www.judicialwatch.org/blog/2014/03/u-s-gives-russia-free-military-equipment-used-by-army-marines/
http://newworldorderg20.wordpress.com/the-g20-are-collaberators-in-the-new-world-order/
Working with everybody sounds like Capitalism or like Free Enterprise -- and Kirk is all for freeing the Enterprise.
Just as "History is written by the winners", so too "Crime is defined by the Ruling Elite" of a country.
Stop guzzling that Kool-Aid!
what's interesting is how a country like Russia of 140M people and a GDP of 2T (about the same GDP as Canada's) plays such a loud mouth role in the world
it's as though the CIA pays Putin to shoot his mouth off to create drama for barry
It seems that Russia is the only country that doesn't take orders from Washington and has weapons that can ensure this freedom.
Doesn't Canada belong to the Queen of England?
Canada belongs to The Crown and Canadians pledge their Oath of Allegiance to the reigning British Monarch: QE 2.
In practice they also pledge Allegiance to the other reigning Monarch: the Federal Reserve. Because Canadians are raised to be "Nice" and to be inventive, as long as they follow the lead of the British or American governments.
SWIFT is ridiculously archaic. I would hope the Russians could come up with something better.
paper laters=)
Yes. They might not even game the system like the bunch of criminals we have now. Obama wanted to know how we could get gas to $8.00 a gallon. He may soon have his answer.
that means they are in UAT now. May is for public consumption.
My practical hope here is that it drives the cost of transfers down.
yes, the russian alternative will be called the " RED CABBAGE" ... it will the alternative to swift system ...
russia will also begin backing the Ruble in both cabbage and caviar ( although an extreme warning when you convert ruble into cabbage n caviar not to consume both at same time .... or sudden death may occur from farty explosion/combustion )
I'M BULLISH AND VERY GASSY ! full of hot air but i'm backed by some physical..... at least till i have a coffee and drop a big russian deuce Hahahahahahaha
I wonder how many of the newest crop of anti-Russian trolls have an IP emanating from Alexandria, Virginia.
Or JINSA.
The Legacy of Boris Yeltsin
is that you Putin ... or or just another sad Red Shill
Is that the best you can do?
That's some weak trolling, madam.
Here - chew on this...
http://www.boomantribune.com/story/2014/3/10/35243/4419
And up yo game, nigga.
errrrr rrrrrrrrpPP PPpup Puuupssssss ... red cabbage is giving me some gas !
xoxoxoxox
I have my moments ... lol
why people have such faith in HOLLOWMEN like PutinObamaJinping is insane !!!
they offer nothing, and think of where they will lead us !!
obamajinpingputin and their corporate religion is filled with hate
speaking of Russia, HATO's Gen. Breedlove (gotta love the irony of that name, it is truly Orwellian) announced that NATO now knows for certian that Moscow has invaded the Ukraine...again.
Breedlove stated that Russian tanks, troops, artillary, air defense and mrl systems have crossed the border and are in the eastern part of the country. what's interesting here is this time there has been barely a peep from our MSM on the subject. last time Russia "invaded the Ukraine" it was a major crises and was blasted out as the major headline story for a week straight.
which leads me to wonder, why is this time different?
Merkel did announce that dispite the continued Russian agression that there would be no new sanctions imposed as a resault of this newest report. which I guess a bit of a duh moment, with the EU already in a worse recession than Russia even with the current sanctions, the EU really can't do anything more without destroying themselves. oh yeah, that and they would run the risk of leaving a large part of europe out in the cold, literally.
and with a second holy grail gas deal in the bag, a large nuclear power plant deal with Iran, oil rich fields in the Artic locked down, a new BRIC's bank and now this it looks as if any further sanctions from Washington would kind of pointless and very much counter productive at this stage of the game.
I'm guessing the surprising silence on this most recent Russian foray into what is now, in all reality New Russia is a simple admission of defeat by Washington. they are not going to get the heavy industry of the east nor Crimea into NATO which makes entering the rest of the country into the allience completely pointless.
so I guess the question is now will they risk a full scale war to realize the ambitions they put into motion when the US state dept. paid to have the pro Russian government overthrown?
it will be interesting to see if this most recent Russian invasion bit picks up steam over the next few days or if it just gets a brief mention then goes down the memory hole.
I dont know that additional santions would be pointless. It seems that thus far sanctions have pointed out to Russia the most glaring weaknesses that must be addressed promptly. The consequences cause short term pain to some sectors but force correction. IMHO - keep it up. Sort of like the paper Au Ag scam, I'm sure Russia, China and others are grateful for the bargain prices the Western banksters have provided.
Tomorrow always tomorrow. Anyone should have seen that SWIFT was a threat to be used against any enemy of the west. Then when it was used against small countries the failure to begin a full speed development of an alternative is incompetence. They say May, expect that to slip and for the roll out to take a couple years to be functional for all but a couple countries.
Just like the pipelines to China, they should have been in place years ago and now they are 4 to 5 yrs away.
Putin is to the Oligarchs what Noriega was to the Bush family. This is perfect - when the dollar collapses it will be "their" fault and citizens of the West will be begging for the central bankers to save them.
ATTN Russians: while your at it, create a new alternative to the COMEX and LBMA ...... OLD PROVERB; never leave price discovery of your natural resource products up to your enemies - you'll get shafted every time.
+"42". One of the best comments on this article.
Exactly... so the NWO can continue manipulated PM's over in commi land
I would add "never leave price discovery up to your customers" either.
Thank God. While I agree she's hot as hell her music sux balls.
Economic Warfare. How civilized.
Seeds for WW3 are planted (???)