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De-Dollarization Accelerates: Russia Launches SWIFT-Alternative Linking 91 Entities
Back in 2013, The NSA was first exposed for secretly 'monitoring' the SWIFT payments flows. This appears to have been among the last straws for Russia (and others) as far as both NSA spying and dollar domination.
Last year, following threats to remove Russia from SWIFT by the UK, (which SWIFT rapidly distanced its 'independent-self' from), Russia (and China) announced plans to create its own de-dollarized version. In November, Russia detailed the SWIFT-alternative's launch date around May 2015, and just last month, Medvedev warned of "unlimited reaction" if Russia was cut off from the SWIFT payments system.
So the news this week that Russia has launched its own 'SWIFT'-alternative, linking 91 credit institutions initially, suggests de-dollarization is considerably further along than many expected (especially as Russia dumps US Treasuries at a record pace).
Almost 91 domestic credit institutions have been incorporated into the new Russian financial system, the analogous of SWIFT, an international banking network.
The new service, will allow Russian banks to communicate seamlessly through the Central Bank of Russia.
It should be noted that Russia's Central Bank initiated the development of the country's own messaging system in response to repeated threats voiced by Moscow's Western partners to disconnect Russia from SWIFT.
...
Joining the global interbank system in 1989, Russia has become one of the most active users of SWIFT globally, sending hundreds of thousands of messages per day. In general, SWIFT provides a secure communication network for more than ten thousands of financial institutions around the world, approving transactions of trillions of US dollars.
Earlier this month Russian Deputy Prime Minister Igor Shuvalov expressed confidence that Russia would not be disconnected from SWIFT. In her turn, Russian Central Bank First Deputy Chair Ksenia Yudaeva called upon Russian civilians and financial institutions not to dramatize the current situation.
Russian experts point to the fact that Western businesses would face severe losses if they expelled Russia from the international SWIFT system. On the other hand, the alternative system launched by Russia might reduce the negative impacts caused by measures imposed by the West, including possible disconnection from SWIFT, and diminish Western financial dominance over Russia.
* * *
SWIFT (The Society for Worldwide Interbank Financial Telecommunication) is a Belgium-based international organization that provides services and a standardized environment for global banking communicating that allows financial institutions to send and receive messages about their transactions.
The core of SWIFT's work is a secure financial messaging service that communicates payment orders to be settled at correspondent accounts — accounts that one financial institution holds with another financial institution.
The network has become key to the functioning of Russia's financial system since the first bank began to use the service in 1989.
About 360,000 such messages are sent daily, making Russia the second most prolific user of SWIFT in the world, the head of SWIFT in Russia, Roman Chernov, told a conference last year, according to RIA Novosti. Over 600 Russian financial institutions use SWIFT, which saw a 40 percent growth in its traffic in 2014, he said.
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Oh my I upvoted a bot, first and only..
Giant sucking sound...
I bet a bunch of idiots are racing toward a sudden outward tide only at the last second realizing... Tsunami! RUN!
I am getting more and more in the camp that Gold is not going back down to 800. The collapse of the dollar is getting closer....
Look at gold in Europe and lately/namely look at gold in Greece. There will be a great deflationary cover to sell paper commodities. That might fail the supply chain and also cause the inevitable split of paper and phyzz.
everyone is fighting server long and deep deflation, that includes all commodities like gold.. The USD will skyrocket when the euro fails and then tank when the major markets are the 2 bilion eurasia.
Gold will get you killed!
chocolate, toilet paper and coffee
Gold has a higher purchasing power under deflationary and inflationary pressures. Yes in another deflationary shock ETF PMs will fall on paper just like 2008, but look what happened to gold & silver months afterward.
You would have only taken a loss if you sold, and if you owned 100 to 1 paper etf promises then it did go *poof*, but if you had seen the bubble getting close to collapse 2005-2007...You sold your house, got out of debt, increased savings and bought physical gold and silver. My advice now really.
After Lehman collapsed, I went bullish on the US markets at the same time a bull run had ramped up in early 2009. I also rode PMs up to their 2011 height, sold and have been buying since mid 2013. Stocks were a great bull market from QE 2009 until mid 2014.
I operate off of a very simple 5 part portfolio:
1. 20% physical precious metals. Personally silver is the better play but Gold is Gold. I like palladium too but not near as much as Au/Ag.
2. 20% hard currency outside of the banking system. Worried about inflation eating it? Owner finance arable farm real estate on short notes at 10-12%
3. 20% Arable, farm able land that supports lots of crops, livestock and has multiple sources of spring fed water. Besides your land, I advise, if you have the capital to buy large tracts of land, say 50 acres @ 2250-2500$ an acre then survey off five 10 acre tracts and sell them for $3500 an acre.
4. 20% Livestock - Sheep, Chickens, Grass-fed beef (we have 50 head of Brangus.) Livestock are one of the only assets that can reproduce wealth.... many times over.
5. This was emerging markets and commodity stocks, with a few tech firms peppered in like Apple. Right now I have dropped all BRICS markets except Russia. Oil will return higher someday and I know Gazprom or Lukoil will be there. US shale is dead and the US markets make no sense. So really I would split 10% between Russian energy stocks (watch for the bottom)
& 10% bank distressed properties, as a realtor, yes we are in another housing bubble but with bankers begging you to buy at a 60-75% write down off their books you go in clean it up and do a cash deal or sizable cash down payment with possible owner financing @ 10% short term. Or to even fix up and make a rent house if the price works out.
The dollar will collapse as soon as we run out of zero's.
Can you spare a guy a quarter.....billion for a loaf of bread?
https://www.youtube.com/watch?v=-RTh5t8yEqI
everything dies at zero
then you shut off the monitor
"everything dies at zero"
Except CB interest rates.
(Seriously, who saw this coming? Wasn't zerobound a real limit? Who PAYS somebody to hold their electonic fiat?? (Where is my Mugatu crazy pill meme when I need it...))
Aside from the fact that we're "used to it", I'm not sure positive interest rates actually make any more sense than negative ones when the money's all electronic fiat (i.e. zero scarcity).
It will take many more drinks to comtemplate what you just said. Bravo.
"everything dies at zero"
Not necessarily. Still, there are negative and imaginary numbers.
i was talking about life support
sorry, couldn't help but make the connection
Oh we got enough 0's, and if not we invent some new parameter of wealth like space bucks!
i was thinking last night maybe somekind of keynesian quantum particle called "spork" - rolls off the tongue, mostly
"laser beams"
bitcoins!
< ducks and runs for cover >
Looks like Obama's "costs" for Russia backfire again!
Hows tht $50 a barrell oil taste mother fucker?...lol
Face it, Russia is a one trick oil pony, that will choke on its surplus
Fantasy, that mandatory cocoon for 'americans'.
Yep. That and the SU-30MK that they are looking to sell a whole shitload more of to India.
Oh and subs., and an oil refinery, and agricultural machines, the list is long and growing...
They don't have all their shit together but they are heading in the right direction. (How is that infinite housing boom working for us?)
Nah, Russian factories may be looking to but it isn't going to happen, India are upgrading the existing MKIs, only. They do not want more of them, they are being upgraded to fight off mid-life obsolescence.
The Russians are trying to maintain a joint development of the T-50 (PMF) with India, but it is going very badly, the Indians are not happy with the aircraft's performance and are making noises about just walking away from it. They can too, and almost certainly will.
Russia is missing the boat here, they were broke for too long and the needed development didn't occur so they are now about a generation behind, especially in propulsion and airframe tech. Only now are the Russian strike aircraft and weapons finally beginning to catch up to older western 4th gen strike fighters. They've had this same problem of being about two decades behind the technology edge for about 60 years now. And even 60 years ago they only got close because they were given the leading propulsion tech by the west, and then they copied most of the rest.
Russia's main impediment is that India already operates and knows what western fighters and tech can do, and how reliable it is. When the Russians demonstrated the still single-seat (note: India requires a twin seat advanced strikefighter) T50 recently, one of its engines failed and caught on fire.
The Indians have seen thousands of Russian engine failures and fires in their Russian built jets, so they know this is not at all unusual, it's in fact situation normal and the Indians really don't want any more of that crap happening. It occurs because Russia claims a very high performance level for their combat aircraft, but they can not sustain it without the engines burning up and failing very quickly.
It's why Russia jets have continually crashed at western air show demonstrations when the engines are being heavily stressed to impress the crowd, and the crashes are always due to engine failure and fire, or else a partial power loss at a vital moment from an engine that is still working, but is in the process of lunching itself.
India knows all of this well, they can't be fooled with more bullshit and denial. So when they see the T50 doing the same thing they instantly knows the uprated AL-41 engine is still as unreliable as the Al-31s were, and unable to provide the performance levels the Russians claim.
So India will go for western fighters and their very high power reliable engines and Russia will be left trying to sort out its old shit once more, and they have had ten years to sort out the AL-41, so it needs complete replacement. Which will put them well behind again if they want to sell fighters and gain geopolitical sway.
Even the Chinese have had enough of the unresolved problems and the Russians have struggled to get them to buy 48 new Su35s. The Chinese insisted they will only buy half that number, or buy none at all, so the Russians have had to take the scraps they can get to obtain any new fighter fleet sales.
Russia will be lucky to get anyone to order the T50.
Russia To Receive 5th Gen Fighters This Year - By Jaroslaw Adamowski, February 9, 2015
The only reason the Russians are trying to rush such a problematic immature aircraft into service is to maintain the pretence that they're keeping up with the West. US Marines are getting close to declaring fully operational readiness of the first deployable squadron of F-35Bs (ready to sail on LHD). The USAF is close too while F-35 orders, and the number of countries looking to buy it keeps growing.
Hence the Russians must wave hands in air and make a show of pushing the T50 into service.
But it's fooling none of Russia's traditional buyers, and now China can now build and supply comparable fighters Argentina for one is now looking to buy Chinese fighters, while Malaysia is very keen to replace its aging Russian fighters with new Superhornets, and Boeing is offering them to Malaysia at a low price.
So India will not be buying more old MKIs just because Russia's aircraft industry is becoming desperate to obtain orders, in a deepening recession. Indeed, India is also evaluating the F/A-18F for its two seat strike fighter replacement needs.
Meanwhile the West is already moving on to 6th gen design and development.
Lockheed Martin Skunk Works Chief: U.S. Next Generation Fighters Need Stealth - Sam LaGrone February 18, 2015
Reality will not be denied.
You obviously don't have a clue about the expensive pieces of junk known as the F-22 and the F-35. Strictly speaking Russia and China don't even need a 5th gen fighter. As stupid as US politicians and military leaders may be, I believe they are well aware of the fact that the F-22s and the F-35s don't stand a chance against top of the line Russian and Chinese fighters and pilots. It's one thing to develop a cash crop to cheat billions of dollars out of brainless American taxpayers. It's entirely another to fight a real air war with expensive junks.
The last time Russia fought a real air war was in the early 1950s, when they pretended not to be, and they lost. They couldn't even manage to take down an SR-71 in 30 years of operational over flights. The US in particular actually owns and operates most of the current tactical jets and some of the bombers in the Russian inventory, and knows what they can do in performance and avionics terms. So don't kid yourself that the Russian gear is super-duper great 'n stuff because the West literally knows exactly what it can do, and what it can not.
The design and development of the Su27x began from about 1969 and was very late getting into the air force in number and its initial capability and reliability were both pretty dismal. The west has developed three more generations of strikefighter since then the Su35 (which is really just an Su27 with attack capability added) is only now catching up to the stuff the West is currently retiring as obsolete. Countries Like Malaysia have these Russian fighters now and they have been pleading with the west since about 2007 to be able to buy the Superhornet. Why? Because they already operate the old F/A-18Ds and know they can kick the shit out of the Russian gear in strike fighter operations and reliability. So they know the Superhornets are the way to go for them, when facing a Chinese versions of those same old Russian fighter designs.
The USN just began a new program to replace the Superhornets and not with the F-35C (which they're still buying with IOC in 2018, Marine IOC is in July this year after a workup cruise, then FOC in 3-qtr 2016) but replacing it with another more advanced attack design to come, that will work along side the F-35C. Possibly a UCAV.
You fellas will learn the hard way that bringing a Sopworth Camel to the battle of Britain is not a good idea. The Russian air force knows this, they're not as stupid or unrealistic as the propaganda bunnies they have been feeding.
Where did you get your "history" from? Let me guess, the MSM? US govt publications? you know, sources that publish stories in which universal laws of physics cease to apply - e.g. the 9/11 Commission report, the Warren Commission report (JFK assassination).
Are you with the American people or the so-called US government? Before you write more warmongering propaganda, do a bit of reflection on credibility of your news feeds and your (so-called) representatives in Congress!
Um, if you want to refute an argument constructed with hard facts you actually have to stick to the topic and address them with relevant counterpoint, if you can, and not try to shoot the messenger, nor blather about unrelated matters that will never win your argument. That's a lot for you to bite off and chew, so don't feel compelled to embarrass yourself further.
Ignorant jizpot should be taken seriously . His first hand knowledge on Indian -russian deal is astounding . basement residing armchair general the video you shared yesterday . LRASM is similar to Brahmos so still you've not discussed anything where usa is leading . Let more and more come in swine :D
That would be because I've never made any attempt to do so. Why the fuck would I? I've pointed out what's actually occurring. Observations that elicit your reflexive insecurities. I guess you'll never grasp how little I care what a lowly bum grub like you 'thinks'.
Impressive Ele,
Facts can bite when used and delivered similarly like an A-10 warthog in uncontested air space and the victim is on the ground. Good analysis, some probability left to IOC for weapons cited, far to wasteful for the dollars spent on our current weapon platforms. But facts are immune to probability. Thanks for the education.
Let's hope that as the world unravels, it won't sustain a real Ele.
No worries, too many absurd barnacles on the whole topic. Why people want to remain ignorant and unable to face what's really happening is a never-ending amusement.
Um, I'm not aware you've proved your claims to be "hard facts". In fact, I'm saying those are fabrications from unreliable sources. I thought that my suggestion, though indirect, was quite obvious.
The sources you 'think' or assert are 'unreliable':
Janes 360 - THE source on military hardware for more than a century.
Defense News - one of the best gatherers of daily defence news globally.
Lockheed Martin Skunk Works Chief, talking about current activities in designing the next 6th gen attack fighter. The same organisation which designed the SR-71 in the late 1950s, and is responsible for pretty much every cutting-edge low-observable aircraft since then.
No, you're right, it would be silly to listen to anything these organisations have to say.
But your pathetic, inexplicable unsubstantiated totally unsourced opinions mixed with ridiculous flaccid excuse-making disjointed rambling blather makes sense to you.
Whatever.
Any knowledgeable reader who has followed Janes for some time knows that it's full of BS.
You really don't need to provide additional evidence of your ignorance. There was more than enough by your third post.
Obviously you still don't know why. But then ...
I'm yet to read any publication, or any source, of any type, that doesn't have that routine problem (especially the Russian ones, btw).
But if you had any point to make you could have, and would have simply pointed out where Janes could, with evidence, be unambiguously proven to be wrong, within the linked article. But you can't, because you are a no-nothing blow-hard, with not the faintest idea about the subject. Your inability to face the topic, or its facts, nor discuss any part of it even once, is maintained for one more hopeless round of totally irrelevant inconsequential mindless crap.
If you didn't want to say anything, you could have just said nothing - same result.
btw, India just announced they will not be buying any more Su30MKIs. They appear to be going to go with the French Rafale instead. Russia is losing foreign fighter sales fast. Putin just visited Egypt, and as soon as he left, Egypt likewise ordered Rafales. So they've failed their too.
What he means there is the existing airframes are aging and degrading so fast that rapid replacement is necessary. In other words the Russian jets develop major airframe and engine issues as they age.
So there will be no more Su30MKIs. And no more production work and income for Russian aerospace, 2015 is shaping up to be a pretty bad year, and next year no better.
If Russia can not produce a more powerful and super reliable engine for its fifth-generation fighter program the T50 will be a flop, will not achieve the required performance levels, and will not attract foreign orders. So there's a very good chance India will not be buying it. And not just be cause of the Jet and the engine, they're also disenchanted with the Russian's attitude, refusal to face and respond to real technical problems, and the lack of cooperation on developmental efforts and technology.
Perhaps my sources and analysis are a bit more accurate than you'd prefer.
non sequitur
Ignores all facts, obfuscates topic entirely, brings up completely irrelevant drivel, feigns a convoluted pretense that an intelligible point was made somewhere, which was too subtle and elaborate to be grasped by anyone but the claimant of said imaginary asserted point.
Napper = Useless time wasting idiot = True
America hasn't fought a real war since WWII.
The Vietnam War and the Korean War were sort of real. But then the politicians and the military didn't (and still don't) want to talk about them because (1) both wars were started by the US under false pretences (cost tens of thousands of American lives), and (2) the US got beat in both wars by poorly armed opponents.
I'm sorry, and no disrespect to any veterans of korea or Vietnam, but I should have been more clear about what I meant. I mean the US hasn't fought a war where freedom and our way of life was at stake. Korea was a hot mess we shouldn't have meddled with and Vietnam was a total CHarlie Foxtrot proxy war with Russia while simultaneously sticking our noses in yet another civil war.
.
I have no idea how having a surplus of oil could even be used by a troll as a bad thing.
According to MSM all that extra oil is gonna blow up and spill all over baby seals and shit http://money.cnn.com/2015/02/18/news/oil-train-pipeline-safety/index.htm...
Yoo'd think they'd'av taken ewe seriously by now
They did.
then why does USA need the Russians to take them to the International space station?
Russia makes plenty of money selling weapons too. Guess you hadn't heard that.
God to live in a fantasy.
Unable to stick to a topic of conversation and make relevant comments or counterpoints, so deflects with irrelevant excuses, then stamps feet and pouts, about how mean reality is.
Obama is stupid and this is what you should expect
By the pricking of my thumbs, something wicked this way comes....
By the thumbing of my prick,
Something comes wicked this way.
Tomorrow's news story: John McCain, mentally decrepit from the ravages of senility, confuses SWIFT with swift boat and calls for the bombing of John Kerry's yacht while being sodomized by Lindsey Graham.
roflmao
Sounds like a routine episode of "House of Cards".
More importantly:
http://fortruss.blogspot.com/2015/02/if-kiev-violates-agreement-russia-m...
Putin will not be outplayed ion the geopolitical chess board. Just a hint of what is probably to come.......given the demoralization in Kiev and certain Western capitals. Think disaray.
Forget the thumbing, this ^ is blood brother talk... "Lindsey Graham" who is then eaten slowly by an America Alligator
not again..
This is exactly what I needed before work today! Fucking hilarious. I may just be your #1 fan.
"Behind the Galley Door"
TheFourthStooge-ing
Hahaha. That post made my night. Thank you. It's a long way down for our RINO to go skinny dipping.
http://www.sciway.net/sc-photos/charleston-county/ravenel-bridge.html
kinda been reported like 9 months ago but everyone "poo-poo'd" it.
The rest of the goddamned werld can't get away from the fiat dollar fast enough.
I'm just looking forward to the day when I can walk down fraud street and grab a a bankster and skull fuck him until his head caves in, right there on the side-walk.
My own personal "money shot" . Ocular penetration and all that.
My name is John Johnson, but everyone here calls me Vicki.
That's gonna leave a stain...
So when this goes international we will see.
Unless Russia uses Russian made IT infrastructure (both hardware and software) for the new system, NSA will still have no problem eavesdropping.
Most of this shit is made in China anyway. Cisco is frequently made in Malaysia.
NSA may have the force of contract, but every employee at every manufacturer has his price. Firmware is easily zapped. So easy the NSA can do it.
Kaspersky's already on to it.
Putin vs. Obama. We all know which one entered the battle of the wits unarmed.
Exactly, Putin is nothing but a grunt, where Obama went to Harvard....so who is witless again?
I may not agree with what Obma is doing, as well s the lack of stones he shows, but I think in a battle of wits; Putin comes out as an unarmed uneducated loser
So yeah, 'americanism' comes with its own logics, which usually leads to any thinking pattern to be built on fantasy, not on facts.
Obama went to Harvard. Putin went to Leningrad State. You know what they say about state schools.
You obviously know very little about Harvard, Obama, and the media that tells stories of Obama going to Harvard or Columbia.
GW Bush attended Harvard as well. So what? Doesn't change a thing in life -- he is still a semi-illiterate borderline mental retard. Obama is a darker Bush who speaks better English.
I can get a PhD from Harvard for my dog if I have the money and/or influence.
The US is going down the crappers PRECISELY because of graduates from Harvard, Yale, Columbia and the likes.
Excellent
Was that the Harvard Teleprompter School, Inc. in Effington, Tennessee?
What grades did Obama get at this "Harvard" you speak of?
I believe he had best grades of any Kenyan in his class.
You cannot know his grades you, you rayciss.... Harvahd law review, never wrote a damn thing you rayciss.. Traveled to pakistan when no visas issued, rayciss for knowing.. SSN is a bit fishy, shut up you a rayciss..
BTW MDB's little brotha doing a nice job...
B Hussein F Marshall Obama Davis Soetero, International Man of Mystery.
Mystery? Not so much. He worked for Business International Corporation in Pakistan and helped funnel weapons to the Taliban during the early 1980's. Why do you think his go to foreign policy is to arm people and his domestic policy is to disarm people? Thats all he knows.
(if any) a bunch of zeroes, hedged by his sponsors.
nobody at Columbia and Harvard ever remembered having Obama as a classmate.
what's the name of that school in Harry Potter?
I beleive is was "Hogwarts" which describes Mooch to a TEE.
Oh for fucks sakes. Prove he even went to Hahvahd
lol Nuke your only argument is that "Obama went to Harvard" as if that is a measure of intelligence.
Putin has outmanuevered Obama time and again. Zero is an amatuerish bufoon by comparison.
The west is full of 'educated' fools.
LOLOLOL - good one
It's all just one big chess game, and Russian are noted chess masters.
https://www.youtube.com/watch?v=mI2ej_ctM9I
Take a straight and stronger course to the corner of your life
Make the white queen run so fast she hasn't got time to make you a wife
'Cause it's time is time in time with your time and
It's news is captured... for the queen to use!
Move me on to any black square
Use me anytime you want
Just remember that the goal
Is for us all to capture all we want
(Move me on to any black square)
Don't surround yourself with yourself
Move on back two squares
Send an instant comment to me
Initial it with loving care
YES dexter_morgan and regardless of what any of us here on Zero Hedge thinks, the FACT is that there will be an attempt to come up with a legally binding international agreement in Paris. It's hard to imagine that being successful against this backdrop of distrust and gamesmanship. International law is being put to the test and when you hear Russia's complaints about international law not being respected, combined with words from Evo Morales speaking on behalf of China + 77 (which is today 134) about how ineffective an international body like the UN has been, it is foolish to think that Paris will be a non-event.
Every government of every country on Earth has had Paris on their radar for at least two years. We have been enduring distraction after distraction and there is a definite possibility that Paris will get lost in the noise. It is not 'life on planet Earth' that is at stake in Paris, it's the reputation of 'international law' that is on the line. Anything short of an ambitious agreement with teeth will be seen for what it is and it will be the final nail in the coffin of the UN. Gotta ask ourselves which is more dangerous; having the law of the jungle replace international law or having a fake international law that isn't worth the paper it's written on.
When Michelle Jarraud says "we know" what he's saying is that we know enough to put a stop to squabbling like children and start working together, and not some lame half-measures or impotent unilateral actions which have gotten us nowhere fast. Frankly I'm not too optimistic but I do like to dream that Paris will turn out to be a turning point in international relations that will produce a succession of "political miracles" that could liberate us from endless fucking bullshit. Think "global warming" is a hoax? Fine. Think I'm a commie/pinko/socialist/libtard/progressive/NWO asshole? Fine.
I was a YES fan before I became a RUSH fan...
Came across this vid of Tommy Shaw doing Your Move live at the Wild Horse Saloon in Nashville. My jaw hit the floor when the audience applauded, thought they'd throw shit at him LOL
https://www.youtube.com/watch?v=Kl2HIpPcHMo
Was also shocked to see Peter Joseph choose the same (well, close) YESSONG as the only 'featured' music for Zeitgeist: Moving Forward.
Listen to what Fresco says at the opening of the clip...
https://www.youtube.com/watch?v=qqN6sy7xWjw
Nothing worse than overeducating a natural born idiot.
I'm pretty sure that Obama never received any real education, let alone over-education.
If this is true, WWIII is just around the corner.
Old people are dying in record numbers!
Why let someone die when you can get a machine to keep them alive and charge $12,000 a day.
This is what gets me.. Why do people want to extend the inevitable, even to the point of human incapability and incoherance? Losing your faculties or seeing someone you care about lose theirs cannot be fun? To see more and more of those you care about pass on?
Life is cyclic. Let it be.
only if that was the plan all along
WWIII already started years ago. The forms and tools of warfare have changed. Now it's economic warfare, financial warfare, cyber warfare, intelligence warfare ... played with poker strategies and tactics by some, and chess strategies and tactics by others.
As you probably can tell by now, the NATO crime syndicate (headed by Washington) is losing.
A catchy acronym for the win.
Dear Zion,
Ha, ha.
You can get prosthetic feet.
The banksters need to repay us.
P.S. Russia DOES have WMDs. Lot's of them.
We need to get Texas Precious Metals and Apmex on board ASAP!!
say it again
We need to get Texas Precious Metals and Apmex on board ASAP!!
Wonder what would happen if something or someone sort of discombobulated the SWIFT system? How would things financial work?
How would things financial work?
Slower. Much slower. And probably some amazing arbitrage opportunities would appear.
Dont forget, even though many people spew ill informed hostility about Bitcoin, it does exist, is already global, and provides a viable 'payments system' like SWIFT - but without the need to trust correspondent banks.
FYI - it is also much faster than SWIFT ... max of about an hour to get irreversible value transfer anywhere the Internet is functioning. SWIFT is limited by the working hours of the connecting banks.
Right now, with Chinese New Year and the week long Spring Festival, it is almost impossible to deal with Hong Kong using national fiat currencies. Bitcoin transfers .... no problem.
So - maybe not slower, if SWIFT is crashed. Perhaps a stampede to cypto, and the only sensible crypto because of first mover advatange, brute force security via lots of hardware, and network effort, is Bitcoin.
Yeah, right, in response to a shocking collapse of an electronic system of payments, the masses will flee to – wait for it – yet another electronic system of payments, and on top of it, one that has been extremely volatile!
You're either clueless, or a Bitcoin shill.
One guess:
Which soveriegn entity will be the first to discombobulate SWIFT?
The end begins... Sayonara petrodollar.
There is no such thing as a "petrodollar".
dollar liquidity went from oil, so it's petrodollar
Dumping Treasuries like a bad rash, sending in the A-10 Warthogs to eastern europe, the odds are getting shorter by the hour folks, better get ready to rumble.
During the upcoming worldwide economic downturn, odds are that the dollar and the U.S. Treasury will still be perceived as a "flight to quality", just as they have for a long time. Not the yuan, nor the yen...and certainly not the rubble - oops, ruble.
Like it or lump it, anti-Americans, that's just the way it is.
As they have for a long time, war will be perceived as peace, freedom will be perceived as slavery, and ignorance will be perceived as strength.
Wrong context, Bob.
^^^ Everyone say hi to asophocles, the poo-flinging artist formerly known as Amerikan Patriot.
How many user names is this now? Five? Ten? Stop calling everyone "Bob" and maybe we'll stop noticing that you're the same dipshit who's been posting under multiple names on every article about Russia.
I bet this doesnt get picked up by any msm
Does this mean Greece is going to default.
91 entities? This is the fall of SWIFT? 91 Russian banks connected on the net? Fuck you, get a clue.
ya ever see how an avalanche starts?
You ever see how they keep that sorta thing in check?
To deny that the Brics are changing the rules and building their own systems like an alternative to Swift, alternative to IMF & World Bank and all the bilateral trade agreements bypassing the dollar and selling oil/services for gold (or regional currencies) is rather foolish. You don't just do it all at once. This is death by a thousand cuts, which even our allies are participating in.
They are patient and will continue investing in mass amounts of commodities and infrastructure while we implode from within (EU, US & Japan.) Of course if America gets belligerent this new financial alliance will start playing harder and a hurry up offense, which we may be seeing now.
Still calling 2015 "The year of the Bucking Bronco"
You can call it anything you want, fact is the dollar with be the reserve for the rest of our lives.... One way or another...
A fiat paper reserve currency the rest of our lives? I would take a hefty bet on that one. Petrodollar is last vestige of that reserve currency and we are seeing that crumble each quarter.
I don't think you're following the trail I'm leaving man. It will be the reserve for the rest of our lives, how long we have to live is the question.
I'm 31 and if I know that we have a fiat, un-backed reserve debt note with 205 Trillion$ unfunded liabilities while running trillion Dollar deficits each year, all running alongside $1.2 Quadrillion derivatives market with a massive amount of QEs barely holding it together then countries obviously know. I would believe they are just incompetent, but all western leaders calling for a new world order seems to dispel that notion.
I get your jist, America will not give it up & would start WW3 rather than to see it fall. I highly doubt that scenario. China could sell all their treasuries and defeat us without a shot fired.
Citium say only "1.2 quadrillion in derivatives?" what a fuckn maroon try more than 5 quad would be getting closer to being accurate! ha they dont report any truthful numbers to the filthy whitey goyim you think they would truthfully giv up the goods on thier most sacred fraud operation? don't be dumb nigga!
What leverage is there in the OPTIONS of derivatives they sell ?
We could already be at 100 quadrillion.
What u say might be very true but you didn't have to be an ass to someone who agrees with you but has a lower figure. 1 quadrillion, 5 quadrillion..... we toast brother. Lighten the snark when a person agrees with your ideas.
agreed!
Tomorrows Headlines: 'PUTIN KILLS PUPPIES [& KITTENS TOO]'
"Putin judo-flips flacid, docile Zero Hedgers to the mat in exchange for reduced-cost Russian citizenship."
New Orleans Times Picayune Headlines: "Now you listen to me, trooper boy! We got a swamp full of Black Russians drivin' boats to beat the band down here"
Oh, look, Amerikan Parrotidiot went and got himself another sock puppet.
"considerably further along than many expected"...or exactly as insignificant as everybody else thought.
Agreed. 91 banks connected.... SWIFT does 10s of thousands of transactions a day.... Yep, this is the end of SWIFT. Like attacking a carrier fleet with a fucking scuba diver and a harpoon...
Yeah but if it's Barry the Cyborg with a nuclear-tipped harpoon...
You really think connecting 91 Russian banks via the net with a common protocol is the end of SWIFT? That's fucking R.E.T.A.R.D.E.D.... I mean full on down syndrome retarded. I don't give a fuck if you connect all the banks in Russia with all the banks in China, that's still not the end of SWIFT, and it does insure Russia is in for a rough ride going forward.
You guys seem to forget the size of the Russian economy. It's pathetic.
A troll is a troll is a troll.
Russian GDP is anywhere between $2.1T and $3.4T with a lot of opportunities (oil and gas reserves, land mass, manufacturing, militarisation etc), and is the 9th largest economy in the world based on GDP. How is that pathetic?
The US state of California has a larger GDP than Russia.... And you think Russia will still be 9th at the end of this year? I'm pretty sure not so much.
What's California's GDP ex-Facebook and Google
You'd have Apple and almond farms still... LOL
And when SO Cal runs out of water. What then?
In Bel Air it will be Perrier
BINGO!
Also, don't forget adult day care facilities!!
yeah but CA is maxed out, stripmined, Putin has Quadrillions/Sextillions in resources, almost no debt and plenty of gold. He looks up to nobody
You seem to forget the size of the derivatives pool that western banks are exposed to. When that blows, Russia won't have to kill SWIFT. Just about everything that is hooked up to it will be insolvent.
Lets assume that wasn't just speculation for a minute. What do you think would happen in this case, if all the derivatives that we are assuming are out there could not be covered and ALL blew up at once. What do you think would happen?
I'm pretty sure 'Greek' banks would be in a lot of trouble, while the 'important' institutions would thrive.... History doesn't repeat but it sure does rhyme yeah?
Considering that the size of the derivatives pool is several times larger than world GDP, and that those 'important' US institutions are slated for a breakup by the FDIC when that happens, and the three of the four largest holders of derivatives in the US have them stuffed into FDIC insured deposit taking subsidiaries, I'm pretty sure it would be a currency crushing event. It's what almost happened in 2008, which led to the AIG bailout, TARP, QEs 1, 2 and 3 and ZIRP. The Fed and the government have already shot their wads. Round II will prove tough for them to handle.
And if history rhymes, you should be asking yourself, why did the Persian Empire, the Mongol Empire, the Roman and Byzantine Empires and virtually every other empire either fall or otherwise lose its status as an empire?
You might be right, except you're not quite. You think they didn't learn from 2008 and I think they did.
Example, just because you stuff derivatives in an FDIC insured institution doens't mean all those derivatives are backed by the FDIC. Only the deposits in qualified accounts are insured.
So if a 'zombie' bank went belly up with 50 trillion in bad derivatives, and had 20 million in FDIC insured deposits on the books. What would happen?
A, FDIC would have to cover 50 trillion in losses.
B, FDIC would cover 20 million in losses and the bank and 50 trillion would disappear.
According to the FDIC, "unsecured creditors" (i.e. depositors) are going to take a hit. It's called a bail-in. The idiots didn't learn anything useful. They only learned from a country that didn't have such massive exposure. In the mean time, the government will do what desperate governments always do under such a crisis: Money printing, capital and price controls and lying to us.
And the FDIC doesn't even have enough to cover the depositors losses.
Unsecured depositors are people with more than (I'm pulling from memory so I could be off a bit ( 125k?) in savings and people with accounts other than savings. So if you have an investment in the bank you are NOT a depositor as far as the FDIC is concerned. Derivatives, correct me if I'm wrong here, are not savings accounts.... So wouldn't be covered by the FDIC.
So if a bank with 20 mill in deposits and 50 trillion in derivatives exposure went belly up, the FDIC would cover only the FDIC qualifying deposits, and the rest would vanish.
Except that the banks with the big derivitaves exposure have trillions in deposits, not some paltry drop-in-the-bucket 20 million. The FDIC has something like 25 billion to cover losses with. Under those circumstansces, people with a lot less than the FDIC limit are going to take a hit.
And you think those derivatives will be sitting at Goldman Sachs when the balloon goes up? Or do you think they'll be sitting in a 'Greek ' bank by then? Seriously, you don't honestly think this shit is unmovable do you? Look at Lehman again and see how that shit went. Sacrificial lamb, so to speak.
I don't think those will be sitting at GS, I KNOW they're sitting at Goldman Sachs USA, Citibank NA, JPMorgan Chase Bank NA, and Bank of America NA. All except GS USA are FDIC insured deposit taking subsidiaries. Their positions are simply too big to unwind in any time frame not measured in several years.
$70 Trillion for Citi
$65 Trillion for JPM
$48 Trillion for GS
$37 Trillion for BofA
Now, compare that with total assets:
$1.377 Trillion for Citi
$2.008 Trillion for JPM
$111 Billion for GS
$1.524 Trillion for BofA
That doesn't include lesser exposed US banks and it doesn't even touch European banks.