CHINA LAUNCHES ITS INTERNATIONAL FINANCIAL CLEARING SYSTEM
Well, now it's official: China has announced and launched its international financial clearing system, CIPS, the China International Payment System, according to this TASS article shared by Mr. L.B.:
China launches CIPS international payment system
As the article notes, the system is designed to be a deliberate alternative to the SWIFT system based in Brussels. But more importantly, this will be a yuan-based system:
BEIJING, October 8. /TASS/.The China International Payment System (CIPS) officially began its operations on Thursday, a statement posted on the country’s State Council website has said.
Fan Yifei, deputy governor of the central bank, the People's Bank of China, told a ceremony in Shanghai that the establishment of CIPS "will allow increasing efficiency of cross-border settlement in yuans and encourage the yuan’s use globally."
The new payment system is also expected to help improve the support of the real economy and the strategy of the Chinese companies’ access to global markets," the central bank official said.
Or to put it country simple, China isn't waiting around to gain admission of the yuan into the SDR(Special Drawing Rights, the international basket of currencies that forms the units of account for the IMF, World Bank, and other international clearing and finance institutions). It is making its play to transform the yuan into a parallel reserve currency now, and hence taking direct aim at the US dollar hegemony.
What does this portend?
One thing, and a highly significant one, is what it is implying about China's space capabilities. As I've noted many times on this website, international financial clearing is dependent upon two large factors: a strong navy to protect actual physical commerce moving globally, and a strong space communications system and the ability to protect it. By all public measures of such assets of power and power projection, China's capabilities in these areas is still dwarfed by America's. And this leads us to an interpretive problematic: either China's move is bluster, a bit of "financial gun boat diplomacy", or there are largely unknown and undisclosed naval and space assets and technologies backing it up. It's the latter possibility that's going to have western intelligence services, particularly in the UK and USA, burning the midnight oil. And I suspect - strongly in fact - that it is a mixture of both cases, weighted on the side that China has "unknown and undisclosed" capabilities.
There's yet another geopolitical factor at work here: Russia, and Japan. Recall that recently Russia and Japan signed an agreement giving Russia access to the Japanese Credit Bureau's clearing system in Eastern Asia and the Western Pacific, a significant move that builds redundancy into the clearing mechanisms Russia is trying to contruct, for this gives it access bypassing any Chinese system, while at the same time, Russia and China have also entered into bilateral clearing arrangements by-passing the dollar entirely.
Put all this together and one obtains a very intriguing picture: Japan, Russia, and China are engaged in erecting parallel clearing systems bypassing the CHIPS-SWIFT system entirely, and in addition to this, they are building redundancy into the global system of international clearing, capable of functioning in more than one currency. Of course, the real question here is why? Why the need for such redundancy, besides the clear desire of those countries to get out from under the thumb of Washington? The answer is a suggestive one: one typically builds redundancy into communications systems out of "worst case scenario" analysis, i.e., out of real or potential perceived military threats. With the heightening of geopolitical tensions on planet Earth, it's a smart move. The real question is, are those tensions the only reason for the redundancy?
See you on the flip side...
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“Golden Age” coming for UK-China relations, says the Chinese ambassador as President Xi Jinping is about to be welcomed in London (and the City) with pomp, circumstance, the Royal Family including Prince William, bankers and industrialists. Say what they might, this seems to mark the winding down of the to British “special relationship” with Washington. And could there be some coded language behind the apparently innocuous expression “golden age”? Link – https followed by: youtu.be/Y11uKlOW0lY
Then “Golden Year” is the expression used by Prime Minister Cameron to define Anglo-Chinese relations. And everybody loves gold…
Hallaluya brother, can I get an amen ? Now the dutch refusal to even look at the satellite images of the BUK missle launch from the Kiev side of the conflict makes sense. Justice is slowly creeping into world stage,perhaps peace is still a remote possibility someday.
I would direct everybody on this website to http://www.counterpunchnews.org for 10/13/15 and look up Andre Vltchek article on Indonesia. He lays out what our overlords have plan for all of us when reading it keep in mind the ZOMBIE television shows and movies meme of late.
Anybody who thinks that the Chinese are dumb, do so at their own peril. So now the CHIPS have been substituted by CIPS, and the ball is rolling on the US dollar. China has also been dumping US debt, who’d want to be holding securities that some day may be worthless.
Space has now become the new battlefield, and “stuff” in space has to be “secure”, so without doubt, the Chinese have somethings in space that do the job, checkmated again, when will they ever learn ?????
True. When you think about space defense don’t limit yourself to defensive weapons. A simple but effective space defense for all China’s satellites is the ability to wipe out all your enemy’s satellites. That is very easy to do. One nice shrapnel bomb going off in geosync orbit opposite direction and in less than a day everything is toast.
Primitive but effective.
My only contribution is to point out that they launched it on an “8” day — very fortuitous in Chinese financial numerology.
Also, the first one after Mercury went direct last Friday. Things moving forward now that have been pulling back for full-force launch even as we speak.
Like an arrow, well-aimed….
S ^i^ / Ramura
They say order out of chaos but what they really want is chaos out of order. The only way the Western elites flourish is in time of disorder when they can plunder and kill to their “hearts” content. The BRICAS will have to watch their backs for the foreseeable future.
There was a article on October 13,2015 on http://www.counterpunch.org by Andre Vitchek on Indonesia. In light of all the zombie television shows meme of late it presents a grim picture of what our oligarchs have in mind for the rest of us worldwide.
The capitalists say that competition is a good thing.
But in practice; it’s monopoly – where competition is a sin.
Amen! The principle of Capitalism is to keep the flow of money going upward to the rich. Unfortunately, due to its pyramidal economic structure, this means that more and more money continues to accumulate in the hands of fewer and fewer people, guaranteeing the birth of monopolies. The challenge of this fact for Corporate Capitalism is four-fold: how to milk this system to the utmost by 1) creating false demand; 2) extracting more and more money from the market for your product; while 3), constantly substituting your product with cheaper and cheaper fillers; and 4) conducting this whole swindle with the utmost secrecy and deception so that no one can see what is going on.
Stage 4 is in high gear right now. Just check out your local grocery store: that’s what those 14 ounce cans of tomato soup water are all about. Keep this up and in 2 or 3 years look for a pound can of green beans at Safeway to consist of 10 green beans floating in a mix of green bean water. The ideal of this impulse to convince the consumer to send his money to the corporations for no reason at all. That used to be called financial slavery. Now it is called smart marketing. I think that someone has things backwards.
Excellent points lazer-eye.
The model for marketing has been best exemplified by the tobacco industry. They’re “Smoke Screen” has become the marketing template.
Rarely as innocent as their TV-Sided image portrayed them. Their main goal: to manufacture & generate ignorance/false knowledge. Nobody knows the answer, alibi research, no proof, universal awareness, everyone knew, open controversy, common knowledge, and a whole cauldron of witches-brew advertising.
Now, sadly, researches and historians are quite that “research” can be bought as easily as any other commodity.
After all, it was the tobacco industry that controlled the science of tobacco.
Sound familiar?
Are other sciences being controlled as well?
Robert, the tobacco companies did control the research just as it is today with pharmaceutical, auto, GMOs, etc. We can’t believe any study, they are ALL bought and paid for. I believe it was a huge money scheme where the big players won, not so much the people. With the master settlement plan the state’s still bring in about 30 billion dollars a year in taxes. Too bad that money doesn’t go for a good cause. It’s cheaper for corporation’s to get caught and then pay fines and lawsuits.
Sadly,
too true Sandygirl.
https://rt.com/shows/keiser-report/318576-episode-max-keiser-822/
Laser-eye & Sandygirl
http://rt.com/shows/keiser-report/318576-episode-max-keiser-822/
Bypassing SWIFT is just smart. It’s good not to have a gun at your head. SWIFT has been a weapon for quite some time. And you can’t abandon the $FRN w/o constructing your own system. However, does this portend war or an AngloSphere potential collapse? Only if it’s in the script. I do believe whoever is running the world, spends a lot of time cogitating how to best shear the Sheeple in a detailed / coordinated effort.
Oligarchic Trade Deals, ZPI rates, GMO based food stuffs, Mercury laced vaccines, toxic meds, petroleum based food preservatives and colors, the list goes on and this is no accident.
There is finally enough push back from Joe Public to have caused serious financial woes to MonSantano and Big Pharma. Alternative health and Organic food movements have clawed back some breathing room.
However, the big question is, has the CIPS system been built to accommodate a planned demise of AngloSphere? Well, let’s see, both Europe and the US are under a coordinated, planned invasion with 3rd world types that will work for a fraction of what is customary.. I see no better way to destroy that pesky middle class and instantiate a Dueno / Peon culture, both here and in Europe. TTIP TPP are RollerBall.Inc world government, gloves off and in your face.
Having a back up global payment system might be a wise move to keep the wheels on the tracks if things get too rocky in the US and Europe during this attempted transition to Emperor Bush I’s NWO.
While it is fairly apparent that everything is designed for the slow kill; the slow kill isn’t working fast enough due to blowback from the people, hence the buildup toward a global war between the 3 superpowers. The invasion by Muslims into Europe and the US is designed to trigger tensions (white/black, Christian/Muslim, etc.) and stress their economies to further that goal.
There are many layers in this rotten onion.