Russia and China will create an analogue of SWIFT, which could lead to a significant weakening of the petrodollar

Western actions in Eastern Europe and unprecedented pressure on Russia may ultimately lead to an expansion of the fight against petrodollar. In this regard, the most dangerous for the West is China, which plans to increase the role of the yuan in the world, reports To lead Economy.

Now the Russian Federation and the PRC are discussing the creation of a new system of interbank transactions, which should become an analogue of the international SWIFT system.

“Yes, this idea was discussed and supported.”- Russian Deputy Prime Minister Igor Shuvalov said after the meeting in Beijing.

The publication provides a certificate explaining what a SWIFT system is:

“SWIFT is an international interbank system for transmitting information and making payments. Also known as SWIFT-BIC (Bank Identifier Codes), BIC code, SWIFT ID or SWIFT code. Founded in 1973, 239 banks from 15 countries were co-founders.

SWIFT is a company created under Belgian law, and the founders of the company include more than 9 thousand banks from 209 countries (data for 2010). The head office is located in Brussels. SWIFT users are more than 10 thousand organizations, including about 1 thousand corporations.

Each bank included in the system has its own unique SWIFT code. To make a payment in Europe, it is enough to know the bank’s SWIFT code and the recipient’s IBAN code. More than 1 million remittances pass through SWIFT per day.

After the 11 events of September 2001, the CIA and the US Treasury Department got access to SWIFT information. Every year around SWIFT passes about 2,5 billion payment orders. "

Plans to reduce dependence on the financial market of SWIFT in Russia appeared after the first US sanctions, when Visa and MasterCard refused to work with some Russian banks.

According to the vice-premier, the Chinese payment system UnionPay, which will become a partner of the Russian payment system, is ready to cooperate and provide all the necessary infrastructure for this.

“But if with respect to the payment system it is clear what to do and how to move, then the system of mutual settlements, by analogy with SWIFT, is an idea that we all liked today, we put it forward, everyone is ready for it to be positive. Now we will begin to work it out. "- said Shuvalov.

That is, the Eurasian Economic Union will gradually begin to abandon the dollar. And the current US President Barack Obama will have a chance to enter history as head of state in which the dollar lost its former influence. According to the online publication "zerohedge.com", "the end of the hegemony of the dollar will undermine the status of the world reserve currency, and may lead to a rapid and uncontrollable collapse of the American empire."

Comments

[bulvas]

Competition will benefit everyone, business will become more independent from politics

[Момент]

This is the most important thing, why America and its satellites are doing it now. It is vital for them to prevent friendship between Russia and China, as well as the strengthening of the SCO, BRICS, etc. If this happens, then everything in this world can change, and it is quite possible not in favor of the "doers of democracy"

[FACKtoREAL]

Quote: Moment

This is the most important thing, why America and its satellites are doing it now. It is vital for them to prevent friendship between Russia and China, as well as the strengthening of the SCO, BRICS, etc. If this happens, then everything in this world can change, and it is quite possible not in favor of the "doers of democracy"

Colleagues, WHO steers in Eurasia, he rules the WORLD!
World THREE began for the Eurasian continent ...
Dill - a precedent for the collapse of Eurasian integration
the creation of an analogue of SWIFT is not only the "cornerstone" in the FOUNDATION of the BRICS economic development, but also of the ALL Eurasian economic integration (+ Latin America).
VERY GLAD for this "subtle" fact ...

[subbtin.725]

Russia and China will create an analogue of SWIFT,

The Anglo-Saxon world is in a panic. You, look how "Rain" screamed. It means: We are going the right way, comrade.

[insafufa]

give up the dollar it will not lead to the collapse of the dollar the next day, but it is quite possible to squeeze it out the more reserve currencies the easier it is to conduct business.

[Iline]

Quote: insafufa

give up the dollar it will not crash the dollar the next day

The rapid weakening of the dollar would lead to the collapse of all international trade. But the gradual taming of the world economy to new realities is the right way. And, it seems to me, it’s painless for everyone. Except the USA. Now they are fluttering with all their might and the peacock's tail is being dismissed, but at such a pace you will soon have to go to the porch.

[ROD VDVshny]

Quote: subbtin.725

.You, look how the rain screamed

If not difficult - a link? I want to inquire

[Vitaly Anisimov]

Now the Russian Federation and the PRC are discussing the creation of a new system of interbank transactions, which should become an analogue of the international SWIFT system.

Yes, it’s time to create so quickly ... If the dollar collapses there it will be too late. And at least somehow we will be safe for our economies.

[Paradoxov]

The weakening of the petrodollar is good, it would be better to do something to strengthen the Ruble, but soon!

[MEHT]

Judging by what’s going on now, politics is business.

[dauria]

Judging by what’s going on now, politics is business.

Politics is a concentrated expression of economics, I repeated in my speech, for I had already heard this inconsistent, completely unacceptable reproach in the mouth of a Marxist for my "political" approach. Politics cannot fail to take precedence over economics

IN AND. Lenin PSS t 42 pp 278

[tasey]

Dauria, so Dauria ... Himself under Chita for 11 years. "Pioneer". SS-20, Saber.

[Altona]

Quote: bulvas

Competition will benefit everyone, business will become more independent from politics

----------------------
That’s not even the point, it’s just these little-minded people will rob themselves by taking out billions of free money from China and Russia from the back of their system ... Indeed, if God wants to punish, it will also take away the mind ... China seems to be 12,7 now trillion GDP, Russia 1,7 trillion ... In general, the USA + EU-Russia-China will turn out that at least one third will be robbed of itself ...

[siberalt]

But this is something! It is time for Russia to join this process.
Maybe they will rob. Yes, just what is the supply of pi * ndosovskie dollars? The pyramid of securities? Trillion Bubbles?

[iConst]

Quote: bulvas

Competition will benefit everyone, business will become more independent from politics

In this case, this is not competition - in some areas the concept of "competition" is not applicable. In particular in the standards.
In this area, either everyone agrees on the conditions and switches to a single standard (which, from the technical point of view, reduces costs), or there is a "war of standards" and a whistle with their conjugation.

The trouble is that all these seemingly purely "peaceful" tools like SWIFT have turned into leverage.

And of course, countries like Russia want to protect themselves from such attacks.

The funny thing is that such rings are undermining confidence in systems. And if Russia and China declare that the alternative system will under no circumstances be involved in political or other purposes, then many countries will consider it possible to switch to it.
Those. sanctioners are digging a hole for themselves. The West will not be able to ignore the alternative system if serious players (Russia, China, India, Iran, etc.) are included in it - at least a gateway will be organized for transactions with SWIFT banks. And most likely banks will work with both systems.

[VICTOR-61]

Here we are also ready to confront banknotes against money mattress printing — they are afraid of the collapse of the dollar, and that they are creating chaos and war in the world, we were the first to confront the politics and hegemony of the United States, and our allies are pulling towards us, so we are not

[1812 1945]

Quote: bulvas

Competition will benefit everyone, business will become more independent from politics

This is no longer about competition. Such actions of Moscow and Beijing will make everyone see that the king is naked! If the yuan and the ruble have real collateral, then the huge mass of "securities" denominated in dollars is a kind of placebo for their holders. It has long been a huge issue of dollars as collateral - gold from the jaws of directors of the Federal Reserve.

[Nevsky_ZU]

I suggest that Mavrodi appoint this system as the head of the foundation fund, otherwise he complained that he did not have his own fleet in order to ensure the liquidity of his currency

[Vend]

Rejection of the dollar is the right course.

[jaguar]

"The end of the hegemony of the dollar will undermine the status of the global reserve currency, and could lead to a quick and uncontrolled collapse of the American empire." This is all of course good, but first we need to withdraw from the states our entire reserve fund, which is unclear why it works for their economy.

[muginov2015]

In a positive outcome, 3 world is inevitable.

[Alez]

The article has already been.

[sever.56]

It's time to get rid of these green pieces of paper and make settlements in national currencies.

[zao74]

It is high time! How much can mattresses pay a percentage ?!

[VOLCHOXURAL]

Quote: zao74

It is high time! How much can mattresses pay a percentage ?!

In general, I am deeply at a loss that they had not come to this even earlier! How much can this bubble be nourished and the instrument acting against us supported?
Under liberal law, all liberal oligarchs either work for the good of the homeland and people, or work with their hands (for example, they dig a tunnel manually in Sakhalin)!
Stop lingering with parasites and parasites on the impoverishment of the country and people !!!

[Miron64]

The main thing is not to delay. The idea is good!

[engineer74]

It is high time! Monopolies didn’t bring anyone to good!
PS At an interesting time we live ...

[skyyl]

The Chinese want more than ours to remove the bucks, well done! Our main thing is not to slow down, and respect news

[iConst]

Quote: skayl

The Chinese want more than ours to remove the bucks, well done! ...

The fact that the British announced the placement of part of the foreign exchange reserves in RMB says a lot.
And a good spit in the left eye pendocam.

[Aslan]

Americans r.s.t. bricks when someone tries instead of bucks to pay with another piece of paper, poor fellow Saddam and Gaddafi will confirm.
If Russia refuses the bucks, I think it will shock the Amers, but not fatally, but if our narrow-eyed friends refuse, then then universal scale can not be avoided.

[vodolaz]

Great news, let the geyropa now think about what he is doing to the tune of the mattress covers.

[Neighbor]

Russia and China will create an analogue of SWIFT, which could lead to a significant weakening of the petrodollar

The weakening of the petrodollar without the strengthening of the oil ruble. And if the ruble or the yuan strengthens ... In this case, sell oil, and all that you take for dollars will be at a loss.

[iConst]

Quote: Neighbor

Russia and China will create an analogue of SWIFT, which could lead to a significant weakening of the petrodollar

The weakening of the petrodollar without the strengthening of the oil ruble. And if the ruble or the yuan strengthens ... In this case, sell oil, and all that you take for dollars will be at a loss.

The realities are such that it is extremely difficult to choose a "yardstick" for the currency ratio. Why count?
Gold is not a panacea; it is also subject to fluctuations. A return to the gold equivalent is so far the best solution of the worst.

Since in our imperfect world almost everything has a variable value, [in the desert, if you die, you give all the diamonds (if any) for a sip of water] it is difficult to find an unshakable value.

The study of the problem showed that now the most convenient thing is to tie the measurements to kilowatt hours: electricity has firmly entered and is one of the main and most universal types of energy.

[WIN969]

And how many years will it take to develop an analogue? We need her now

[iConst]

Quote: WIN969

And how many years will it take to develop an analogue? We need her now

The question is wrong - how appropriate is it to develop an alternative system.

Technically, developing is relatively straightforward. The issue of implementation is much more important.

After all, there is a possible option when you can invite stubborn Westerners to the summit, where, as part of the SCO + BRICS countries, announce the creation of an alternative system with guarantees against any sanctions if SWIFT is not decentralized - for example, processing centers will be in at least every country participating in the system ( if this is incorporated in SWIFT).

So let them decide. And if they are not stupid sheep, then they will agree. And the problem for us will be solved with minimal cost.

[Ober.K]

The main thing is not to shy from one extreme to another !!! The golden mean is the best !!!

[Valkh]

It turns out that most of my life I’m waiting for this moment !!!

[Prager]

how much you want the collapse of America with its green waste paper!

[dima 7]

yeah, the dollar has already exceeded 38 rubles, and all that remains is to write optimistic stuffings, that would at least somehow contain the wave of negative population!

[dark_flame]

I fully support you, you can write as much as you like about the fact that our government is doing one, the other, the third, and in the colors to describe how it will become good in Russia after these actions. but in practice the dollar is getting more expensive, the ruble is getting cheaper, although judging by the colorful stories, everything should be like the opposite.

[Magadan]

All this is wonderful - but, alas, I do not believe it.
I noticed one thing - when everything is shitty around (and in the economy we still have the same guts) - so the guys from different echelons of power begin to tell fables about some projects there that are about to happen in the near future.
And we all sit with a moronic-contented smile, waiting for some kind of accomplishment, which "you just have to wait a little bit."
Attention to the question: are you aware that Iran WILL NOT DELIVER RUSSIA 500 thousand barrels of oil per day in exchange for our goods (well, there is engineering, wheat, etc.)? This was directly said in the NEWS 24 Siluanov. He said that there was no talk about this project!
And I remember how much joy there was from this anticipated deal! Bummer, s guys.
I have been having so much fun for a long time - as I hear about some mega-project with the participation of Russia, I follow his fate. So far, alas, everything turned out to be just another bullshit.
As nonsense and the fact that we will have our own payment system. As nonsense and the fact that in Nicaragua they will build a Channel with the participation of Russia as opposed to Panama.
Our liberalistnya stupidly breaches and feeds on fables about a "wonderful tomorrow". Just so as not to be responsible for "today".

[Sunday]

This is some kind of nonsense. Negotiations on this have been taking place for a very long time, and recently, finally, we have agreed on the price of oil. They write that the total amount of the contract will be $ 20 billion, which infuriates the Americans, who call this deal illegal, because they imposed sanctions on Iran. However, Siluanov said back in April that this contract was legal, because does not contradict UN sanctions, and what Americans came up with there does not bother us. So you have some strange information.

[gladysheff2010]

Of course, the collapse of imaginary democracy is good. But much more important is strengthening our ties with China and boosting our own economy! The idea is ripe, it's time to roll up our sleeves!

[VD chauvinist]

The main thing here is to start moving and not turn off, even if it is difficult. I am sure that over time, India, Iran, and possibly Pakistan will join the new system. Our sworn "partners" will become sour. And it will also become sour for Saud, Qatar, etc. They'll have to quit "smoking bamboo" and roll up their sleeves by 8.00. to work, like everyone else.

[BOB044]

Well, what kind of country are we? While the cock in the ass does not bite, we will sit. Well, why before it was impossible to calculate all this. And crush these hegemons of the United States and Britain. Great Britain is a country where all our thieves have found protection. With that money stolen from us, thieves live there and the percentage is removed by the country that gave them refuge.

[Everest2014]

Ah, let's rejoice when everything works. So far, SWIFT, like the national payment system from scratch, is all just castles in the air.

[Vadim12]

This is wonderful, you don’t even have to bomb the United States. Fuck their economies, crush the dollar. Replace the ruble and the renminbi.

[Evil Pole]

Quote: Paradoxov

The weakening of the petrodollar is good, it would be better to do something to strengthen the Ruble, but soon!

It's simple, the price per barrel is higher, the ruble is stronger. And vice versa. Americans dream of bringing down the oil market — the loss we have. If tomorrow a barrel of oil costs 150 bucks, Americans will cut a printing press or start bombing someone else ..

[Grbear]

All

how much you want the collapse of America with its green waste paper!

Well, how srat

And nothing that is new - this is the existing Chinese, the owner of which is tied to the United States for the most "unwilling". To compete with SWIFT is not to drive Macros.
Doesn't this look like a "smooth" flow of money of the state elites into another currency, with the subsequent "funeral" of the dollar and America, which went mad in poverty? Money doesn't smell.
I like the material payment schemes more (gas for you, machines for me), which cut off the relationship (debts and loans) of my partner with third countries. To "fit" into these relations for Russia means to take them into account in its actions. Barter is more difficult (not pushing buttons), but more specifically, which is important at the initial stage of the formation of a multipolar system.
The number of participants has not yet been heard anywhere, but this is important. The creation of the BRICS Bank is not a payment system, but it is also being created for a long time.

You should not rush to someone else’s funeral, as if not to get on your own.

[mackonya]

"... the end of the dollar's hegemony will undermine the status of the world reserve currency ..." - yes, they do it on purpose, so that later it would be easy to print their "papers" at least 100 trillion in order to repay the debt, their currency has not been attached for a long time neither gold nor oil (barrels).

[albi77]

And then Obama then? as if he were deciding something, he was the same talker as the Psaki, only the name was different ... but just as the psaki didn’t solve anything, so Obama solved just as much what they told him to do ...
said to give weapons to terrorists in Syria!
quickly called them a moderate opposition and gave out both money and weapons.
bang ... six months have passed they got out of control ... they said to bomb them.
all-they are terrorists and they need to be destroyed.

it’s like a circus of senility with Obama and the rest of his headquarters.

[iConst]

Quote: albi77

Are we talking about Obama? as if he was deciding something, he was the same talker as Psaki, only the name was different ...

In the hole! In general, I’m a little sorry for the Pandoc presidents - they like roulette will have / will not have luck (term).
Well, they anneal the gag not weakly. If you look at the statistics for the last two or three decades, then the US presidents from time to time in the clowning are getting steeper and cooler.

Even Bush Sr. already looks quite respectable. "Kennedy" will no longer be missed - and almost burned with one.

Incidentally - I have a private opinion that Kennedy banged for ... the determination to deliver a nuclear strike on the USSR!
The oligarchs understood that regardless of the "victory" of Pendostan, a krandet would definitely come: the Britos and the gaterope would suffocate them.

[ISKANDER25]

Quote: Wend

Rejection of the dollar is the right course.

Let them make toilet paper out of bucks!

[iConst]

Quote: ISKANDER25

Quote: Wend

Rejection of the dollar is the right course.

Let them make toilet paper out of bucks!

And they themselves use it!

[pahom54]

""The end of the dollar's hegemony will undermine the status of the world's reserve currency, and may lead to a rapid and uncontrollable collapse of the American empire.".

It was high time to do all this, and in particular, to create our own national system.
And all the time I think about the paradoxes of the financial market: many talk about the possible collapse of the dollar, and here, zzzarraza, its rate is growing - it has already become almost 38 rubles ... Here it is, dependence, clearly presented ...
Well, about the fact that someone above has commented - "finances will become less dependent on politics" - this will NEVER happen. Modern business and politics are tied tightly. So both China and Russia in this case also pursue not only economic (financial), but also political goals, avoiding mutual settlements in dollars. Well, thank God, the ice has broken!

[bmv04636]

Russia China plus India joins plus part of South America South Africa so whose side is numerical and not only advantage

[MSA]

Rather, the buck would have become toilet paper

[asadov]

I fully agree with the article. Only one thing - WHEN IT WORKS !!! So far, only words and rumors and nothing more. When will the deadlines be announced?

[voyaka uh]

Never. Yuan is a non-convertible currency and
Ruble - non-convertible currency.
The exchange rate between them will have to be established
again ... for the dollar

[iConst]

Quote: voyaka uh

Never. Yuan is a non-convertible currency and
Ruble - non-convertible currency.
The exchange rate between them will have to be established
again ... for the dollar

Yes, and in the mouth compote. At first, it will be so - all the same, the buck does not participate in operations - the commission passed the cash register. Pendoc.

[potjen]

dollar kaput !!!

[SVAROGE]

.... "the end of the hegemony of the dollar will undermine the status of the world reserve currency, and can lead to a quick and uncontrolled collapse of the American empire" .... Yes, soon!