Babylon's Bankers

RUSSIAN CENTRAL BANK LAUNCHES DOMESTIC CLEARING SYSTEM

You may have missed this story, which appeared the day after Christmas last year, but as predicted, Russia has now officially launched its own domestic financial clearing system independent of the SWIFT clearing system of the West, in response to Western sanctions and economic pressures on that country:

http://rt.com/business/217803-cbr-swift-alternative-system/

Here's the meat of the article:

"The Central Bank of Russia (CBR) has launched a new SWIFT-style payment service aimed at moving away from Western financial dominance. The system is already operating, and will be fully functional within six months.

"'The new service was launched in order to ensure smooth and safe transmission of financial messaging within the country, and is another step towards improving the system of services provided by the Bank of Russia,' said the bank statement Friday.

"The regulator said the new service will allow credit institutions to transmit messages in a SWIFT format through CBR to all Russia’s regions without restrictions."

As RT notes, the system will be fully functional by May of this year.

But I hope you caught something very significant in this article, one that prompts our usual high octane speculation:

"The calls to disconnect Russian banks from the global interbank SWIFT system came amid the deterioration of relations between Russia and the West and the introduction of sanctions.

"However, SWIFT itself does not intend to switch Russia off from the system, saying a number of countries put pressure on it, and insists it is not joining the anti-Russian sanctions."(Emphasis added)

This link is then provided in the article:

http://rt.com/business/193464-no-authority-swift-russia-israel/

Now this is significant, in my opinion, for the amount of waffling occurring within the international clearing agency, for it is claiming it has "no authority" to withdraw Russia from access to its international financial clearing services:

"'SWIFT regrets the pressure, as well as the surrounding media speculation, both of which risk undermining the systemic character of the services that SWIFT provides its customers around the world. As a utility with a systemic global character, it has no authority to make sanctions decisions,' the group said in a statement released on Monday.

"The Society for Worldwide Interbank Financial Telecommunication, or SWIFT, is currently one of Russia’s main connections to the international banking system, and if turned off, could hurt Russia's economy, in the short-term.

"'SWIFT services are designed to facilitate its customers’ compliance with sanctions and other regulations, however SWIFT will not make unilateral decisions to disconnect institutions from its network as a result of political pressure,' the communique said." (All emphases in the original)

Now these are highly revealing statements, for first of all, it is tacitly admitted that SWIFT was (1)subjected to "political pressure" to suspend Russian access to its international financial clearing, (2) refused to bow to that pressure.

It does not take a German rocket scientist to figure out that this pressure doubtlessly came from Washington and London; one need only recall British Prime Minister Cameron's ludicrous and laughable statements to the effect that Russia was not fit to participate in the West's "highly ethical" financial system. But what SWIFT's statements imply is that London and Washington have lost a considerable degree of their influence within the institution, based in Brussels, and that raises the question of just who provided the political moxy and backbone to SWIFT for it to be able to resist such pressures, and to do so under the guise of "not having the authority" to make such a suspension.

Again, it does not take much to figure out where the counter-pressure to London and Washington might be coming from. Paris, with its own financial woes, Madrid, with spiraling unemployment, Rome, with increasing Italian popular revolt against the whole EU experiment, and as always, Berlin, with perhaps the longest litany of problems with Washington, from the NSA's spying on the German Chancellor's cell phone, to more recent  pronouncements from the German Defense Minister that Germany's military was oddly unprepared to meet any NATO emergency (should war break out in the Balkans, you'll recall), to Foreign Minister Steinmeir calling, paradoxically, for a much more militarily muscled German foreign policy, which included, you'll recall, calls for the "Europeanization" of Russia and the "multilateralization" of the USA.

In other words, quietly, SWIFT would seem, for the moment anyway, to be slowly pried away from London's and Washington's influence, and that heralds perhaps a quietly growing, though very real revolt in Europe against American unipolarism and heavy-handedness in the wake of the Washington-generated fiasco in the Ukraine.

And meanwhile, Russia is playing it safe anyway, by instituting a completely independent system of domestic clearing by-passing SWIFT anyway... and that, as I argued throughout the last year, would be but the first step toward a rival system to SWIFT for international financial clearing on the part of the BRICSA bloc...

So 2015 is already shaping up to be an interesting year...

See you on the flip side...

 

See you on the flip side...

(Our thanks to Mr. J.T. for providing this article.)

9 thoughts on “RUSSIAN CENTRAL BANK LAUNCHES DOMESTIC CLEARING SYSTEM”

  1. Frankie Calcutta

    I don’t like to make predictions (well, actually I really do) but somebody in Europe is going to have to be made an example of in 2015 of what happens when you try to jump off the anglozionist reservation. France recently had some unmarked drones probing their nuclear reactors and a La Pen election would heighten the possibility of this false flag, but right now my bet is on another large European country bearing the brunt of some anglozionist “tough love” this year. Take a Russian friendly government with a renegade cleric and some audacious entrepreneurs rolling out mass market cold fusion reactors, add to the mix a small fortune in stockpiled gold sitting under the nation’s capital and, you guessed it, Italy is my candidate for a anglozionist false flag thumping. I can almost see that Israeli submarine dropping those bomb carrying ISIS actors on the Italian beach right now. And when Rome is in chaos, the same Israeli submarine will be there to pick up what’s left of the Vatican gold as Rome’s CIA station chief uses nearby US “humanitarian” soldiers to loot it under cover of the ensuing mayhem and forced evacuation.

    My second prediction: blue-eyed people will one day be forced to live and evade the rest of humanity just like bigfoot or risk becoming entirely extinct.

  2. With Allen Dules, and the Manchester five being known assets at the most pivotal and trusted positions and the destruction they caused to the western value system this latest move should come as no surprise.
    Good Job comrades, good job, the workers paradise has arrived!

  3. So Russia gives the west a “SWIFT” kick in the pants, and Putin has checkmated them again, but not so fast. The western elites are not going to let this fly, so watch for anything that will indicate a pushback, what that will be is anyone’s guess. Maybe gold will raise it’s ugly head again, 2014 was a golden year, with most of it disappearing into thin air, or “no air”….ooooops

  4. I just hope that Russia has five months to put this together. You never know what the Neo-Confederates-Neo-Norseman are cooking up to head off this move by the BRICSAs. By the way I would push the 1204 sack of Nova Roma(Constantinopole) back to 1071 Manzikert defeat which set off the Crusades in the first place. That crisis set the opening for first Templar digs on the Temple Mount. Could the Seljuk Turks been the al Qaeda of the late eleventh century ACE and who were their real paymaster just what you call my high octane speculation.

  5. So is this the “space-based” clearing system the BRICS need to step away from dollar-denominated transactions? I still don’t understand why it would need to be space-based. Anyway, if the Russian SWIFT is the clearing system needed, what would be the next steps that BRICS would start taking?

    So, SWIFT got sufficient political cover to slink away from City of London and USG. Why would the EU countries be bothered by Russia getting shunned from SWIFT and how would they back up SWIFT from pressure? All EU leadership is bought and paid for. Strikes me that only Germany has the weight to provide the cover needed.

    1. I’ve also always wondered why Dr. Farrell so strongly emphasizes that the clearing systems must be space based.

      1. I might be mistaken but I believe that it is because of satellites. If you want a truly global financial clearing systems then you need to be able to beam the signal to space and back.

        If the only countries participating are Russia, China and some of the former Soviet neighbors then maybe it could be done with landlines (as they are all located in Eurasia). But I believe that objective of the Russians is to create a global clearly system as an alternative to the US dominated SWIFT system. A system that all the BRICS would have access too. And a system that might prove attractive to other countries as well whether they be “enemies” of the US such as Iran or Venezeula but possible even some of America’s presumed friends, like Germany, might prefer to have some choices too.

  6. It’s about time. Once again, bravo to da Ruskies. As long as anyone uses $FRN’s you are entrained in the Matrix. Dropping the $FRN is a huge fist step in walking away from serious blue pill addiction. However, the methadone of BitCoin is not the answer. I had an interesting waking dream. Someone sent me 1/10 of a BitCoin and in the BC wallet ID were the following chars “kRAP”.. I took it as a sign from God.

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