Posted on 02/26/2022 8:10:49 AM PST by BusterDog
Germany and Italy are now both reportedly ready to remove Russia from the SWIFT banking system. They were the only two known holdouts. If Russia loses access to SWIFT, the financial implosion of Russia will be, ahem, swift. Bring it on!— Palmer Report (@PalmerReport) February 25, 2022
(Excerpt) Read more at twitter.com ...
Time for Europeans to run out to the store and buy some overcoats!
The real move would be to shut down transactions with the Russian "Central Bank".
>>> Steve Bannon says this will result in the USD no longer being the world’s reserve currency and rampant Venezuelan style inflation in the US.
That’s a fact.
It’s also what Biden wants.
You don’t spend dollars like the democrats if you want the dollar to survive.
Europe still imports massive amounts of oil, gas, wheat and minerals from Russia.
Totally unaffected by sanctions.
How are they going to pay?
Gold? Barter? Cryptocurrencies?
“Steve Bannon says this will result in the USD no longer being the world’s reserve currency and rampant Venezuelan style inflation in the US.”
Sadly, he’s right. China will likely become the world’s reserve currency and we’ll have to FINALLY deal with our debt...or see hyper-inflation. Not sure which path the Democrats want to take, though.
“You don’t spend dollars like the democrats if you want the dollar to survive.”
*****
I’ve been thinking that 30T dollar debt may have a lot to do with Russian, and soon probably Chinese, aggression. The US literally can’t extend it even further, can’t afford war.
Both parties did it.
Because? What is his rationale?
The USD as world reserve currency has been on life-support for a long time now. The only reason it still has that status is that there is currently no other to take its place.
The Pound Sterling got obliterated as a result of WWII, and the USD was a viable alternative then.
I don’t think the Chinese Yuan can do that just yet…..
What are the other options?
China is a factory nation, dealing with its own massive real-estate bubble.
It won't become a reserve currency, and only survives economically due to other nations buying their garbage.
Ever heard of BRIC?
Obviously you don't follow the DXY (US Dollar Index). The dollar is doing quite fine right now - and strengthening due to the war.
Well, that’s gonna leave a mark. In a lot of wheelbarrows.
Pray for the opposite of what that effing moron is promoting.
“Because? What is his rationale?”
****
I haven’t heard him go into detail on it, but I haven’t heard all minutes. I assume it’s because an alternative to Swift will have to be used, that is based on some other currency.
“I don’t think the Chinese Yuan can do that just yet…...What are the other options?”
I think China’s big enough now to do it. But if not them, maybe the Euro.
Yeah well we have a major problem if we cannot do without Russia and China, because any intelligent society has the means to survive without enemies or might have to fight in war.
I saw a very persuasive presentation on Jesse Waters last night by the author of Vanishing Empire.
He explained the plan Putin has been following for 20 years, Ukraine is an enormous chokepoint for world energy supplies. Once Putin controls that, he can wreak havoc on Europe and us. Poland and the Baltics are next, and after that Europe wil be completely undermined.
Iran and the release of its oil supplies is part of this plan.
This is in the context of the democrats destroying our energy production for “climate change” while making everyone dependent on Russia and Iran for energy.
Of course the Europeans also slit their throats by eliminating nuclear plants.
Blocking Putin out of all financial systems would seem to boost US importance, if not our currency,..... but I know nothing about international finance.
politicket: Because? What is his rationale?
Because, when you exclude a country like Russia, with the GDP of the Great State of TEXAS, from the international payment transactions system, that cripples the World economy!
/mordant sarcasm
Regards,
The Dems would be fine with hyperinflation. That would destroy the middle class and those living on savings. The Marxist/Communist revolution needs the Middle class to be eliminated and to remake the US and the world into a ruling elite and a dependent, oppressed mass of workers who's only use is to support the rulers or starve.
” “The Palmer Report” is one of the most execrable pieces of Lefty dogsqueezins on Twitter.”
*****
I don’t care, I heard on Bannon’s show that it was being reported so I went on twitter and found a link for you so that it could be discussed here.
People on the left can be my friends if they are anti-authoritarian, nationalist and populist.
The left/right paradigm you grew up with is dead. I don’t know whether the things happening all over the world, especially in Canada, Australia, and Austria are either Communist or Fascist, but at the end of the day it doesn’t matter, they are authoritarian.
And our government is behind all of that authoritarian crap happening the world over.
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