Archive for the SWIFT Category

World War E Breeds Bretton Woods III;  BW II And The PetroDollar Will RIP? (March 14, 2022)

Posted in Bretton Woods, BRICS, CIPS, Petrodollar, PMC, SCO, SPFS, SWIFT on March 14, 2022 by e-commentary.org

. . .

K          “Sounds like a preppy.  Exorbitantly privileged.  His middle name is surely ‘Heathcliff’ or some such.”

J          “Soon to be wearing ‘BWH III’ cum serifs on his sleeve.  Very well bred.”

. . .

K          “Bretton Woods I was born on July 22, 1944 and died on August 15, 1971.  BW I was a modified Au [gold] standard that suspired for 27 years.  On a hot lazy Sunday in August in D.C. when the Ruling Class and the PMC were returning from the Shore, Nixon terminated convertibility of the U.S. dollar for gold with as much hype and fanfare as an announcement of the construction of a new water treatment plant.”

J          “I do not remember the event, yet I sense that the action was more of a unilateral breach without consulting other nations rather than a polite and proper termination of a long-term relationship and a statement that it is temporary.”

K          “Right.  Not to fear, BW II was hatched.  In the next few years, Nixon and others agreed to provide protection to Saudi Arabia in exchange for the Saudis pricing oil in the newly concocted ‘PetroDollar’ protection money.  The scheme allows the U.S. to conjure figment money at will and demand and take resources, services and products from every other country on the planet without providing anything in return other than . . . the figment money.”

J          “The U.S. spent three cents to print a 100 dollar bill and then demanded 100 dollars of things from other countries.  And latter saved the printing costs by just shuffling electrons.  It is a perpetual motion money machine, until it is not.”

K          “Resistance was futile.  The BW II system replaced an ‘Au system’ with a ‘Fe and Pb system’ that commits the iron and lead of the U.S. military to impose and enforce its will on others.  Over fifty years of international economic terrorism followed.  So few get it.” 

J          “I hear you.  I get it.  I got it.  Years ago.  We as a society are going to get it.  In short order.  In the shorts.  My friends the good old Chinese are encouraging members of the Shanghai Cooperation Organisation (SCO) and the BRICS nations to bypass the SWIFT financial system and settle cross-border international payments in digital yuan using the CIPS or possibly SPFS.  That changes everything.”

K          “The ‘PetroDollar’ has had as much influence on civilization as the implementation of the wheel, the creation of the printing press and the discovery of electricity.  Yet, the ‘PetroDollar’ and BW II are dying a slow but accelerating death.  In a stupendous irony, U.S. stupidly killed BW II which had served it so well and has now spawned an uncertain BW III.” 

J          “The U.S. actions are indeed killing the golden goose that did not require any gold to lay golden eggs.”

. . .

K          “The emerging BW III appears to be a mix of gold and commodities rather than printed figments.  The new economic system for the multipolar political world is founded on gold and commodities and headquartered and centered outside America and Western Europe.”

J          “We are substituting one empire that has done much evil for another far, far, far more evil empire without even a clue or a question about what is happening.  By the way, I have a few more Mandarin language tapes for you.”

. . .

K          “There are books on Cod and Salt and Paper and the like.  If he does not write the book on the PetroDollar, I may get it done.”

J          “And don’t forget the piece on fly fishing.”

. . .

[See Is the Dollar in Danger?  China and Russia may be working to take away America’s ‘exorbitant privilege.’ dated March 13, 2022 by Andy Kessler in the “Wall Street Journal”.  That is two citations to the “WSJ” in a row.]

[See the e-commentary at The China-Russia Affair: Advancing The Petro-Yuan; Dictating The Future (March 26, 2018), World’s Reserve Currency War I = Cold War 2.0 = WW III (?) (September 8, 2014), AIIB: China: 1; U.S.A. 0? (April 6, 2015), The Mandibles, FRNs, SDRs, IMF, G20, WTD! (September 5, 2016), USA + FRN/PD — > IMF + SDR — > NDB + UMU? The “Universal Monetary Unit” . . . Coming To a Planet Near You (January 2, 2017) and One World Currency? (January 8, 2018).]

Bumper stickers of the week:

Post-World War Two Standards:  From Au . . . to Fe & Pb . . . to Au & Commodities

Dragon < Eagle > Bruin; Dragon + Bruin > Eagle

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The Cuban Missile Crisis And The Monroe Doctrine Today (February 28, 2022)

Posted in China, CIPS, Currency, Gold, MIC, MICAC, Money, Neoconservatives, Petrodollar, Russia, Sanctions, SPFS, SWIFT, War, World's Reserve Currency on February 28, 2022 by e-commentary.org

. . .

K          “America failed.”

J          “Russia failed.”

. . .

K          “The American Foreign Policy Effete pushed with both hands to goad, badger, harass, disrespect and humiliate Russia and circumvent and undercut any reasonable and peaceful resolution.  They have blood on those hands.  They intentionally provoked Russia and cynically sacrificed Ukraine.” 

J          “Russia invaded.  Putin is a thug, a bully, a criminal and a psychopath.  Russia and Putin are responsible.”

. . .

K          “Let the record reflect that the U.S. decided to deploy nuclear weapons first.  The SWIFT system should be isolated from politics and serve as the neutral financial infrastructure for the world.  The U.S. weaponized SWIFT and cut off Russia’s ‘financial e-mail’ from the world.  Wait until the dimwits discover that Russian financial interests cannot be surgically excised from the world financial community without creating potentially cascading contagion.”

. . .

K          “If China and Russia agree to use the CIPS or the SPFS or some amalgam of the two, they can expand their efforts to circumvent the SWIFT.  The financial infrastructure is the ‘pipe’ and at this time PetroDollars are the ‘flow’ which could become superfluous if everyone is not forced to use the pipe.  And then America becomes Bulgaria.”

. . .

K          “What if Russia proclaimed that 1,000,000 Rubles can be exchanged for one ounce of gold.  And one ounce of gold can be exchanged for 1,000,000 Rubles.  Let the market respond.” 

. . .

K          “The U.S. decision to declare ‘World War E’ as they say could descend into World War Three.  The U.S. refuses to abide by a rules-based international system and instead does whatever it wants to do.  Russia may have declared war on Ukraine by default; the U.S. declared war on Russia and the world by design.”

. . .

K          “Don’t forget that when you have someone trapped in a corner, you are also in the same corner.”

. . .

K          “America no longer produces intellectuals.  Except for [Stephen F.] Cohen and [John J.] Mearsheimer and a few others [Michael Brenner], the American Foreign Policy Effete advances its own private, personal and professional interests even when those are contrary to America’s best interests.  They are treasonous.”

. . .

K          “Life presents many insoluble situations.  This was soluble.  This is the Cuban Missile Crisis played out in Eurasia rather than North America three score years later.  This is the Monroe Doctrine advanced in another region.  The solution was simple and obvious.  And remember that genius is simple and obvious.”

J          “Putin invaded.  Period.”

. . .

J          “China?  China owns the U.S.  Lock, stock and sinker.  Hook, line and barrel.”

K          “Okay, so we really do agree quite often.  What is the U.S. thinking when it antagonizes a country that should be neutralized and neutral and self-destructively drives that country closer to China.  Everyone should agree to leave Ukraine as a neutral buffer with NATO returning to the original borders.  Let’s focus on the real problem.”

J          “I know I am.  I am learning Mandarin so that I can interpret the conversations of the prison guards at the re-education camp.”

K          “This undertaking in Ukraine is a beta test for China.  They are taking notes.  When you are done with them, send over a few of the language tapes.” 

. . .

J          “Putin’s War.”

K          “Biden’s War.”

. . .

[See “Experts Warned For Years That NATO Expansion Would Lead To This” dated February 25, 2022 by Caitlin Johnstone, the recipient of the Fourth Annual Pushitzer Prize In Commentary For 2019 (April 15, 2019), in www.caitlinjohnstone.com and also the articles in Consortium News.]

[See the e-commentary at Cuba – October, 1962 (October 22, 2012), Washington Wants War In The Worst Way:  Dust Off The IOSAT Or Return To The Status Quo Ante Bellum? (January 24, 2022), Dragon < Eagle > Bruin; Dragon + Bruin > Eagle (April 19, 2021), Sanctions:  Stupid, Absurd, Futile?  Oh, And Happy Armistice Day / Remembrance Day / Veterans Day! (November 11, 2019) and The China-Russia Affair: Advancing The Petro-Yuan; Dictating The Future (March 26, 2018).]

Bumper stickers of the week:

Putin’s War

Biden’s War

Stop War: Stop Putin

Stop War: Stop Biden

I like J

I like K

Dragon < Eagle > Bruin; Dragon + Bruin > Eagle

Dragon < Eagle > Bruin; Dragon + Bruin > Eagle (April 19, 2021)

Posted in AIIB, China, CIPS, Cryptocurrency, Currency, NATO, Petrodollar, Pushitzer Prize In Commentary, Russia, Sanctions, SWIFT on April 19, 2021 by e-commentary.org

[The announcement of the 2021 recipient of the Pushitzer Prize in Commentary is postponed from today to June 7, 2021.]

. . .

J          “China won; China one; U.S. none; U.S. done.  With each passing day, the Chinese military is outflanking the bloated pork barrel project that is the U.S. military without touching off a round or launching a missile.  CIPS is swiftly circuiting and circumventing SWIFT.  National currencies, gold, silver and cryptos are supplanting the PetroDollar.  Technology that was lifted is now legally acquired.  Critical resources that were purloined are now purchased.”

K          “For decades, the Eagle kept the Dragon and the Bruin in their corners.  Now the Dragon and the Bruin have found common ground to overcome their considerable differences, challenge their common enemy and push the Eagle into a corner it does not even recognize.  The vote in 2015 on the AIIB was the most revealing of the ultimate winner and the ultimate loser.”

. . .

K          “The U.S. is desperate to start and expand more wars and is looking to fight Russia or use proxies to fight Russia.  The Bruin is going to be a bear.”

J          “I am as uneasy about Russia as I am about China, but the U.S. should not go knocking on the Russian door and starting a fight on the Russian door step.  When I walked the streets in different cities, I was struck by the steely resolve of the people that is totally absent in the U.S.”

. . .

K          “Our goose is cooked.”

J          “We are dead ducks.”

. . .

[See the e-commentary on China at “Seeing 2020: Panda + Bruin > Eagle. Oh, And Happy Chinese New Year! (January 27, 2020)”, “China:  “The Silent Takeover” Overtakes Silently.  Oh, And Happy Chinese New Year! (February 4, 2019)”, “The China-Russia Affair: Advancing The Petro-Yuan; Dictating The Future (March 26, 2018)”, “AIIB: China: 1; U.S.A.: 0? (April 6, 2015)”, “The Silent Takeover (May 23, 2011)”, “The Odd Couple – China & The U. of S.A. (January 12, 2009)” and China, The 800(0) Lb. Panda (November 20, 2006)”.]

[See the e-commentary on Russia in particular on the inefficacy of sanctions at “Sanctions:  Stupid, Absurd, Futile?  Oh, And Happy Armistice Day / Remembrance Day / Veterans Day! (November 11, 2019)” and “Russian Interference; Russian Collusion (February 26, 2018)”.]

[See the e-commentary on the threat to world peace posed by NATO at “NATOExit? NATOExeunt? (July 4, 2016)”.]

Bumper sticker of the week:

Dragon < Eagle > Bruin; Dragon + Bruin > Eagle    

Sanctions:  Stupid, Absurd, Futile?  Oh, And Happy Armistice Day / Remembrance Day / Veterans Day! (November 11, 2019)

Posted in Sanctions, SWIFT, World's Reserve Currency on November 11, 2019 by e-commentary.org

. . .

J          “But stupidity, absurdity and futility may be the unwitting goals.  Or they may not even have a goal.”

K          “Or an idea.”

. . .

K          “At least sanctions have the saving grace of not being more bombing and more killing and more killing and more bombing and more bombing and more killing.”

J          “They are considered tools of diplomacy rather than weapons of war.  However, I am not so sure whether they are not ineffective as tools of diplomacy yet very effective in instigating war.”

. . .

K          “Sanctions imposed on a country unite the country against a common threat and accelerate the drive to be independent of the good or service being withheld.  Denying a people things ranging from exotic fromage to the esoteric internet financial infrastructure to handle business transactions becomes the mother of invention.”

J          “And in the intermediate term, the sanctioned people become more independent and much stronger.”

. . .

K          “Far too many of the sanctions imposed by the United States are illegal under national and international law, weaponize the U.S.’s control of the world’s reserve currency, and/or are simply counterproductive and invite blowback.”

J          “There will be blowback.”

. . .

[See the e-commentary including the discussion of sanctions at “‘Grexit’, ‘GrexEUnt’, Percolating Problems:  PIIGS, BRICS, EU, EC, ECB, IMF, NATO, WTO, WAR (February 23, 2015)”, a discussion of SWIFT and other topics at “The China-Russia Affair: Advancing The Petro-Yuan; Dictating The Future (March 26, 2018)” and “World’s Reserve Currency War I = Cold War 2.0 = WW III (?) (September 8, 2014)”.]

Bumper stickers of the week:

“That which does not kill me only makes me stronger.”  Nietzsche

“The real power in America is held by a fast-emerging new Oligarchy of pimps and preachers who see no need for Democracy or fairness or even trees, except maybe the ones in their own yards, and they don’t mind admitting it.  They worship money and power and death.  Their ideal solution to all the nation’s problems would be another 100 Year War.”  Hunter S. Thompson

The China-Russia Affair: Advancing The Petro-Yuan; Dictating The Future (March 26, 2018)

Posted in AIIB, China, CIPS, Cryptocurrency, Currency, Cyberactivities, Gold, Guns, INE, International Finance, International Monetary Fund, Money, Russia, SDR - Special Drawing Rights, Second Amendment, Silver, Special Drawing Rights (SDR), Sports, SWIFT, World's Reserve Currency on March 26, 2018 by e-commentary.org

. . .

K          “In the past, the United States played and promoted with some skill the tension and animosity between China and Russia.  The United States has behaved so abysmally and monstrously that even the Chinese and the Russians are flirting with each other.”

J          “The enemy of my enemy is my friend.  Yet nations do not have enemies or friends, only interests.  They have allied to advance their common interests in confronting a common enemy.”

K          “When the United States drives the Chinese and Russians to embrace and play well together, the U.S. is in trouble.”

J          “The U.S. has proudly and defiantly positioned itself to be the world’s worst enemy.”

. . .

J          “The National Security Strategy document signed by President Trumpi on December 18 unwisely exacerbates the U.S. and China-Russia divide and further alienates the U.S. from the world.” 

K          “China is launching its crude oil futures contract today at the Shanghai International Energy Exchange (INE).  China and Russia have been swiftly designing and perfecting a system described as the China Interbank Payment System (CIPS) to send and receive information about and to reconcile financial transactions.  The system will circumvent and ultimately undermine the Society for Worldwide Interbank Financial Telecommunication (SWIFT) controlled by the U.S.”

J          “They are also establishing the Petro-Yuan to replace the Petro-Dollar to facilitate transactions facilitated by the CIPS and to make investments funded by the Asia Infrastructure Investment Bank (AIIB).  That allows the Chinese and Russians, at the time of their choosing, to dump U.S. Treasuries and equities and buy up and demand the physical delivery of all gold and silver.  The Big Jolt will shift the geopolitical tectonic plates in a short time.”

K          “The U.S. will respond by dropping every bomb in its arsenal all at once everywhere and assassinating any leaders who challenge its hegemony.”

. . .

K          “The Chinese are building the One Belt One Road Initiative and uniting countries and continents, but the U.S. has a hard time tightening its economic belt and fixing one road.”

. . .

K          “The U.S. could do a whole lot more to slow or stop the wholesale theft of intellectual property by China.”

J          “His company was uneasy about filling the order from China for just a single unit.  Three years later, they discovered that an entire plant is producing dozens of them daily.”

K          “Now they do not even need to reverse engineer a product.  Just hack the computer and download the plans.”

J          “When Chinese technology was used to commandeer an American drone, I knew the situation was bleak.”

. . .

J          “A few weeks ago, someone on a lunch break called into a radio call-in show and questioned the genius of the U.S. strategy.”

K          “At some point, everyone will be calling in and asking why the prices at Walmart are suddenly what they were at Nordstroms the previous month.”

. . .

J          “The rest of the world may accept or be forced to accept a gold-backed currency for some time.  However, after securing control, the Sino-Russian Alliance will be free to impose a fiat cryptocurrency using something much more sophisticated than the rudimentary blockchain technology and perhaps a refined version of the Hashgraph technology.”

K          “But will the U.S. have enough bombs to drop on the rest of the world?”

. . .

K          “The Chinese and the Russians were playing chess and the U.S. was playing checkers; now the Sino-Russian Alliance is playing weiqi and Trumpi is playing tiddlywinks.”

J          “Trumpi is playing with himself and playing with our futures.  And they are playing doubles while the U.S. is playing singles.” 

. . .

[See “China plans to break petrodollar stranglehold” in “Asia Times” by Pepe Escobar dated December 21, 2017 and “The World Will Not Mourn The Decline of U.S. Hegemony” in “Truthdig” by Paul Street dated February 20, 2018.]

[See the e-commentary titled “World’s Reserve Currency War I = Cold War 2.0 = WW III (?) (September 8, 2014)”, “AIIB: China: 1; U.S.A. 0? (April 6, 2015)”, “The Mandibles, FRNs, SDRs, IMF, G20, WTD! (September 5, 2016)”, “USA + FRN/PD — > IMF + SDR — > NDB + UMU? The “Universal Monetary Unit” . . . Coming To a Planet Near You (January 2, 2017)” and “One World Currency? (January 8, 2018)”.]

Bumper stickers of the week:

Panda < Eagle > Bruin; Panda + Bruin > Eagle  

CIPS > SWIFT; AIIB > World Bank; INE > Brent + WTI; Petro-Yuan > Petro-Dollar:  [ergo] -> Panda + Bruin > Eagle.  Game, Set, Match.  Fin.

Currency Wars -> Trade Wars -> War Wars

America First -> American Last

Some signs at the “March For Our Lives” March on March 24:

Orange lies matter

Owner for reform

The scariest part of school should be a pop quiz

More 4.0 Less 5.56

We call BS

Hold handguns

When I grow up, I want to be alive

If I am killed by a gun, don’t bury me, just dump my body on the Capitol steps

Bullets are not school supplies

Enough / Bastante

My life is worth more than your guns

No more silence  End gun violence

Arm me with books not bullets

Need test to drive  Why not to shoot?

Protect kids not guns

Moms demand attention

Am I next?

Gun owner for gun control

No Rational Argument

21st century technology, 18th century laws

Too old to create change, step aside and we’ll do it

Never again

Some tweet  We march

NRA  Modern Day Mafia

Mental health not personal wealth

Respect our existence or expect our resistance

Thoughts Prayers Action

My students are more important than your guns

Enough is Enough

Mothers Against the NRA

#NeverAgain