Posted on 07/28/2022 7:49:54 AM PDT by JonPreston
Iran and Russia are working together to create an alternative payment system to the U.S.-based SWIFT (Society for Worldwide Interbank Financial Telecommunication) to facilitate bilateral economic cooperation in the face of Washington's illegal sanctions against the two countries.
"Naturally, two countries that want to de-dollarize their transactions should have a special system similar to SWIFT," Iran's Deputy Foreign Minister for Economic Diplomacy Mehdi Safari said.
(Excerpt) Read more at telesurenglish.net ...
Thanks Biden!
Predictable.
Jao Biden will help them, as much as possible.
Biden’s policies are having the net effect of disenfranchising America.
Does this hurt the US Dollar?
Iâm sure the CIA will be trying to hack it any day now.
If the Dollar became a normal currency which is based on its acyual value, yes it would.
What do you call a reserve currency that has no manufacturing, massive deficits and a waning military???
If the $USD ceases to be the reserve currency, it could cause the value of the dollar to go down making imports more expensive, and causing our standard of living to decline.
The Global South encompassing the majority of worlds population will be sitting pretty in 20 years as the Global North cant produce competitively and enjoys rolling blackouts with the basics we took for granted being a distant dreamâŚ.
I have yet to see any written plan on our energy ââ Transformationââ . Trudeau just deciding Canada will use 30% less nitrogen by 2030 and on and on they go. Yet many in the West will swallow this garbage as they preen superiority.
A fiat currency held up by the faith and credit of the US government, which is currently in the hands of a dementia patient.
I’m sure the entire world will clamor to join a financial system run by Iran and Russia.
Itâs like the kids that no one likes starting their own club.
I understand the implications of this. But those twoâon their ownâare not enough to tip the scales. NowâŚadd in Brazil, China, and India to the exclusion of SWIFT and that would be a problem.
Take that, Putin!!!
Actually, one of main benefits of SWIFT was that the people running it could see EVERY currency transaction around the world.
So, per a Robert Barnes video, he stated that when we were in the process of overthowing the elected government of Ukraine in 2014, we let that leader know that we had all of his bank account numbers and related information, and were prepared to seize them, if he didn’t immediately leave Ukraine.
Now, with BRICS about to set up their own system, we won’t have that leverage, and won’t be able to do that crap, except for the few idiotic countries that stay in SWIFT.
With the West removing themselves from carbon energy, I see the oil producers, in time, joining with China and the remaining BRICS nations in a new financial order. It didn't have to be this way.
“Does this hurt the US Dollar?”
Doesn’t have to. When they don’t pay the bill, just pull the plug.
wy69
Very good point. The Canceling of people and nations by the powerful is being challenged and I'm hoping they succeed. More and more I have no allegiance to the bullies in Washington and London. They deserve this competition. They asked for it.
Post of the day!
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