Posted on 02/26/2022 9:06:40 AM PST by elpadre
Technical preparations for Russia's disconnection from the SWIFT interbank information system have begun. The Minister of Foreign Affairs of Ukraine Dmytro Kuleba announced this on his Facebook page.
“The official decision has not been drawn up yet, but technical preparations for the decision and implementation of this sanction have already begun. We pushed and pushed and we succeeded. The entire vertical of Ukrainian diplomacy worked for that - from the President of Ukraine to the attaché at the Ukrainian embassy,” Kuleba wrote.
The Minister also thanked all the numerous people, in particular the Ukrainian diaspora, who put pressure on the governments to support this decision. "Ukrainian diplomats dedicate this victory to all defenders of Ukraine," the Foreign Minister added.
On Saturday, February 26, it became known that Italy, Cyprus and Hungary had withdrawn their objections to Russia's exclusion from SWIFT. Germany was the last to announce such a step. It was to the German government that the relevant online petition was sent, which has so far collected more than 300,000 signatures.
The first major problem it will crash the USD, bringing much pain in the US and western world.
Why?
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Swift is based on the USD for one.
More:
“A new world monetary system is being set up right now which will completely kill the US dollar, which is the world’s reserve currency.
23 countries (60% of the world’s GDP) are setting up swap lines which bypass the dollar and SWIFT, which is the dollar-based worldwide financial transaction system.
These countries include Russia, China, India, and even Germany, France, and the United Kingdom….. Once the new system is in place, our dollar won’t be needed in these countries and a new reserve currency will come into being. All those dollars in foreign accounts will come home, which will annihilate our monetary system.
Also, China just announced that it will stop purchasing our debt (holding dollars in reserve). This will force The Federal Reserve to print even more dollars than the $85 billion it’s currently printin…..”
https://www.truthandaction.org/23-countries-now-abandoning-us-dollar-2/
This will go down as the DUMBEST move ever by the West, and will mark the beginning of a new world order, this one run by China, with Russia playing a big part...and we’ll just be another Third World country unable to manage our debt and spending, no different than Argentina where they were the one of the wealthiest countries in the world...until the 1930s.
Oh well, I nearly got a lifetime in prosperous country through sheer luck, I guess now it’s time to ‘pay’ for it.
I presume you haven’t traveled much?
Say what you will, but every business in the world will happily accept the greenback.
No other currency comes close.
Empty the Strategic Petroleum Preserve. It only serves as a tool of the left. We import 600k barrels daily. Releasing that amount would take 3 years to empty-won’t need that long.
Do you think more drilling in the US is gonna happen? Get real. Cutting off Keystone and ANWAR was the first thing they did. They’re not going back until we take back in ‘25.
An EMPTY SPR will force us to face our problems directly. The globel warmers won’t go away. They need to be squished like a bug.
Not with the massive multi Trillion dollar deficits Dementia Joe is running and the massive printing of paper money to cover crazy Biden spending on insane far left projects.
“SWIFT is one way to clear international financial transactions and probably the easiest way to do it. But it’s far from the only way.”
Indeed. There is too much attention being paid to this.
This is Brandon trying to make it look like he is doing something.
No it isn't. If handles international financial transactions in almost any currency.
A new world monetary system is being set up right now which will completely kill the US dollar, which is the world’s reserve currency.
Yep. Better run right out and buy your gold and silver like your website wants you to.
For every WHAT there is a WHY! Glad that you know that...
If you start countries off from a SWIFT then they will use or build other systems to trade in other currencies than USD and that will diminish SWIFT where the USD lives and rules. We risk starting a preference cascade away from SWIFT and the US dollar reserve currency status.
Remember how Trudeau backtracked on seizing bank accounts after only 2 days due to a run on Canadian banks just 10 days ago. It is like a fist grasping sand. .
I've traveled all over the world. I used to be a flight attendant. Nice try though.
And yes, that used to be the case until very recently.
Oh right your are oh so great and mighty.
Eff you and the horse you road in on asshole.
Must be true then.
‘Do remember, everything Slow Joe does advertently, or inadvertently destroys America.’
Robert Gates seems to double down on claim that Biden’s been wrong on top foreign policy issues for decades!
Robert Gates, the former defense secretary under President Obama, seemed to reiterate in an interview that aired Sunday night that he believes President Biden has been wrong on nearly every major foreign policy and national security issue over the past four decades.
Gates, who spent about three decades in the CIA, was introspective during an interview with CBS’ “60 Minutes,” and was asked by Anderson Cooper, the correspondent, about his 2014 memoir titled, “Duty: Memoirs of a Secretary at War.”
Cooper pointed out a part in the book where Gates called Biden a man of integrity but wrote that he believes he’s “been wrong on nearly every major foreign policy and national security issue over the past four decades.”
Biden has defended his administration and essentially said there was no easy way out of the country after two decades.
I believe that is the way they transfer money for the oil we get from Russia.
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Yes, I also believe it is in US dollars. I think this is the reason many think it will be the end of the dollar used as the reserve currency.
SWIFT is an international financial transaction system developed, implemented, and run by the Belgians. It handles transactions in just about any international currency not just U.S. dollars. It is true, however, that weaponizing SWIFT will speed the development of alternatives since countries can't be sure it would never be used against them.
5-dollar gas, here we come!
We are there and past there in some Californicator areas.
Maybe we should stop buying Russian oil. That will hurt them in the pocketbook.
For every WHAT there is a WHY!!! Glad that you know that!
Of the countries you mentioned, you forgot a big one: Brazil.
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