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
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Exactly.
My working theory is that the quaxxccines are ON/OFF switches of the nature of those in the replicants of Bladerunner.
The multi-millionaire, billionaire and politically connected Elites don't need a very large staff to run their pleasure planet, Earth.
The Patriots/Nationalists/Populists are expendable.
So are quite a few of the Globalists/Elitists/Technocrats/Oligarchs - but no one in the Inner Circle is going to tell them that until they're against the wall, or their OFF switch gets flicked:
If dollar fails, there will be not trust to any US currency, regardless of its labelling.
OK, if you don’t like gold, suggest something else.—otherwise international trade is gone totally.
EURO is going down along with the EU. I would be shorting the EURO and the Dollar and maybe going long the Pound.
“Steve Bannon says this will result in the USD no longer being the world’s reserve currency “
KOOK NONSENSE. Russia in SWIFT or not in has no effect. Their percentage of total world trade is tiny.
” 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.”
The US won’t have a say in it. India is already working around the dollar to trade with China, and other countries will be making their own choices.
Problem with knocking out Russia from SWIFT is that we make the choice that much easier for those other countries.
mvonfr is talking about large commodity transactions, not currencies or a gold standard.
Big chunk of the raw materials come from Russia, so ruble-yuan swap is the answer. The system is already in place.
Now, how China would pay others — oil from Mid East — is unclear. Perhaps Iran will go with Yuan.
“EURO is going down along with the EU.”
Why? From what I see the EU (i.e., Germany) puts up with a lot less deficit spending by member countries than we do.
I’m not sure the ChiComs can use it. They have been building coal-fired plants for power generation. Coal they have been getting from US and AUS.
They do have some coal production of their own, too.
I think Bannon doesn't have any idea what SWIFT is.
Russia gets paid in US dollars for the energy they ship to the world.
SWIFT is the mechanism.
Anytime someone says Russia will be cut off from SWIFT, just know they are lying or stupid, or both.
Plus what other currency has a treasury market as deep and wide as the US? Stupid amateurs never seem to have a clue why the us dollar is used. China and others are going to park their money on pallets in warehouses?
SWIFT handles international financial transactions in every major world currency. It's managed by the Belgians. It isn't dependent on the U.S. dollar.
India and China are both BRIC nations (factory nations). They can trade between themselves without the dollar, but that's a small drop in the pond compared to worldwide economics.
They both desperately need wealthier nations to buy their goods, not each other.
We are going to a quantum banking system shortly aways.
The globalists are panicking.
Already did.
We need to have our Treasury issue our currency, and not have it backed by bonds, bills, and notes - instead distributed based on the completion of labor for some work.
We need to stop having our currency be a "claim on the future labor of others" and instead be "completed labor".
This means getting rid of the Fed - which I think we would both agree on?
That’s exactly the question I was going to ask.
That would be the implementation of complete slavery.
Just like what happened in Canada when they were able to shut off access to accounts.
We cannot let physical currency be eliminated. It would be the destruction of all of us.
A huge amount of their equipment to run their factories is imported, and not ftom Russia.
If only ther were some decentralized currency that was available worldwide.
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