IT’S OFFICIAL: BRICS BLOC EXAMINING ALTERNATIVE INTERNATIONAL ...
Most regular readers here know that I and others have for some time been predicting that the BRICSA bloc, if they are to make their bi-lateral currency and trade agreements, bypassing the dollar, stick, and if they are to make their development banks truly be alternative competition for the financial instutions of the west such as the IMF and World Bank, then they will have to develop their own alternatives to yet another western financial institution: SWIFT, the Society for Worldwide Interbank Financial Transfer. They will, in short, have to develop their own international financial clearing system. While there has been talk suggestive of this possibilityin the past, it has fallen short of coming straight out and stating it...
... until now, in this article from RT, shared by Mr. J.T.:
Home / Business / BRICS starts examining SWIFT alternative
The closest we've seen before this to such discussions have been with bilateral talks between Russia and China, which I covered in this blog last year: RUSSIA AND CHINA IN FORMAL TALKS TO ESTABLISH AN ALTERNATIVE TO SWIFT FOR INTERNATIONAL FINANCIAL CLEARING. But as can be seen from the RT article, this is now an explicit, BRICS-wide discussion:
"The BRICS members have kicked off consultations on an alternative to the global SWIFT system that processes about 1.8 billion financial messages annually, said Russian Deputy Foreign Minister Sergey Ryabkov.
The BRICS system for the transmission of financial information is expected to protect the member countries from any possible disruptions, and provide better security.
“The finance ministers and executives of the BRICS central banks are negotiating ... setting up payment systems and moving on to settlements in national currencies. SWIFT or not, in any case we’re talking about ... a transnational multilateral payment system that would provide greater independence, would create a definite guarantee for[BRICS – ed.]countries on risks associated with arbitrary decisions …made by countries that have current payment systems under their jurisdiction,”Russian Deputy Foreign Minister Sergey Ryabkov toldRIA in an interview published Wednesday. (Boldface emphasis added)
Just how quickly the BRICSA bloc will be able to implement such a system remains to be seen, but if current indicators are any measure, it will probably be a lot faster than the West would wish. After all, the bloc was able to develop its development bank in short order.
There's a geopolitical consequence here that, I am bold to suggest, few people are entertaining, but it is a significant one and one that, I suspect, the BRICS bloc are counting upon, and that is that once their clearing system is up and running, and a demonstrably stable and secure system, then it could very well be that other nations, particularly in Europe, will conduct their trade with the BRICSA bloc utilizing that bloc's clearing system, and bypassing SWIFT. And that means, in the long run, that they will slip more and more out from under the American thumb....
See you on the flip side...
12 Comments
Help the Community Grow
Please understand a donation is a gift and does not confer membership or license to audiobooks. To become a paid member, visit member registration.
If the BRICSA countries ever do set up a SWIFT-alternative system, it will be attacked on every front. The one thing the banksters absolutely do not tolerate is loss of financial control. With that in mind, I hope that the SWIFT-alternative system is set up with the maximum possible redundancy in every aspect. It will be ‘under siege’ from day one.
In addition, I wonder how BRICSA ‘SWIFT’ will provide “better security” (in Joseph’s words) with the NSA’s Utah facility now up and running. BRICSA ‘SWIFT’ will need independent ‘everything’. And considering that the NSA provides an instant, raw-data copy of everything to Israel, the banksters may have all the financial data, anyway – unless all is independent AND highly-encoded end-to-end.
Interesting times…
Yes goshawks, “hey” will attack with extreme prejudice/vengeance.
]Also check the youtube video I posted below].
“they”
[forgot to proofread,
…again]
“The one thing the banksters absolutely do not tolerate is loss of financial control.”
Absolutely, and this is why there remains a distinct possibility that BRICS is all smoke and mirrors engineered by the very same folks who currently run Western finance. They could very well just be swapping out the “middleman” or “middlemen” to deceive us into believing that there has been a fundamental change in global leadership while in actuality we have “meet the new boss; same as the old boss.” At least I have the impression that China still has a Rothschild bank, and when you follow the Bush Crime Family/Bush Nazis (seeming gatekeepers to doing business in China) back you again run into Rothschilds (just as you do if you follow back the German Nazis, for that matter). So I am not at all convinced that those who ultimately pull the strings globally are changing any time soon, maybe not even with BRICS.
“And considering that the NSA provides an instant, raw-data copy of everything to Israel”
And if we had a real functioning republic, this would be the number one campaign issue for 2016 (this and all other sorry, sordid issues pertaining to that one little country, like all the “dual citizens” who have, plain as day, infiltrated the highest echelons of the US government, and all the blatant Israeli agents with endless cash reserves who have been buying all of our recent elections). But seeing as we obviously do not have a real functioning republic, the great mass of cowards masquerading as morons will never be made by the controlled media to deal with this one plainly overriding issue. Best just to go back to sleep because this world is absolutely pathetic.
The Anglo American elites are not going to take this lying down. So there has to be “costs” involved in any split from the western system. You have to applaud the BRICSA block for thumbing it’s nose at Washington and London, but it’s a dangerous game, because if there is anything the elites hate is loosing money, just ask the IMF over Greece.
Did Greece just lay down?
Also Dana, the Max Keiser Report episode #778 today, addresses an alternative[in the 2nd half w/a new guest, Nazomi Hayase]. She frames it as an evolutionary DNA that is counter to the financialized weapons being used today.
It’s very interesting; as is the first half:
http://www.youtube.com/watch?v=TPX1QJZoNvU
Not only is China taking the lead[with Russia and the rest of the BRICS] in currency clearing, but also in another aspect in regards to international trade. As they did w/China’s AIIB Bank, where anybody an join BUT the USA[at least in urban legend[; so too for international trade, where China is forming an alternative to the despicable TPP, where again, anybody can join BUT the USA:
“China Asserts Itself at ASEAN, seeks alternative to TPP”.
It will be interesting to discover what kind of network they will deploy. Such as satellites, fiber, microwave, etc?. My guess is they will rely heavily on in ground fiber.. I would not be surprised if the “New Silk Road” has a fiber cables laid along side of it. Fiber would be impervious to EMP, take very little power and could deliver superior speeds. Space based platforms will be very vulnerable to Acts of gOD.. So, will terrestrial microwave.. And after the Russian meteor incident of a few years ago.. The BRICS nations know it too..
The West has always gambled recklessly for millennia with their own and other people lives and lively hood. The BRICAS and the rest of the World are sick and tired of these dangerous and deadly games. They want to live and enjoy their lives in someway that’s not a game of chicken and can end in disaster.
It will be a rough ride, as all social changes can be, but a new clearing system must be set up. Will insiders still rake in cash through algorithms and bots? Probably. But it would be an illusion – and indeed a mistake – to expect the present system to transform suddenly into a world governed by all-perfect philosopher-kings.
Indeed, that looks to be the ever-lasting close/
the alternate choice. Where you basically chose between
evil and/or a lesser evil.