General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsI guess SWIFT is in the next round of sanctions. Seriously if Russia
has to invent or expand their own internal SWIFT to be able to make global transfers who is going to trust a Russian financial instrument? There is so much corruption there.
(SWIFT is a huge messaging network used by financial institutions such as banks to send and receive money transfer orders or information quickly, securely, and accurately. ... The code is alternately called bank identification code (BIC), SWIFT code, SWIFT ID, or ISO 9362 code.)
Thomas Hurt
(13,903 posts)dalton99a
(81,535 posts)It is way past time
Make them carry cash in suitcases
Leghorn21
(13,525 posts)Midnight Writer
(21,771 posts)Paul Manafort could run it.
okaawhatever
(9,462 posts)K
OAITW r.2.0
(24,528 posts)Quakerfriend
(5,451 posts)this is part of the latest sanctions.
I wish they would stop tap dancing around and
just do it already!!!
okaawhatever
(9,462 posts)applegrove
(118,719 posts)okaawhatever
(9,462 posts)Any other countries have signed up. I dont want to stop them from SWIFT because it might make their system popular. A lot of countries will need to pay Russia for oil & gas.
dalton99a
(81,535 posts)While twenty-three foreign organizations are contractually included in SPFS, only twelve currently use it. The Chinese government has not encouraged Chinese banks to join the Russian system. At the moment, the Bank of China is the sole Chinese member.
https://www.atlanticcouncil.org/blogs/ukrainealert/cutting-off-russia-from-swift-will-really-sting/
WHITT
(2,868 posts)Putin already setup an alternative called SPFS years ago, and will likely merge with one China setup called CBIBPS, and they will then expand to Turkey, Iran, and other countries, allowing all of them to be protected.
Thereby making any threat by the U.S. moot, not to mention they can utilize any currency they want, instead of being limited to dollars by SWIFT. That especially benefits Putin, as he can use Rubles.
applegrove
(118,719 posts)The currency only effects the two ends of each transaction, not the service.
applegrove
(118,719 posts)Someone said Putin has webbed the oligarchs so much into corruption that they all live or die together. Would you put your money in that? Putin has tried to do that corruption web in Great Britain and the US using retired politicians and current ones (Trump). The world will divide into the corrupt and the not corrupt. I don't think the ruble is as stable as US dollars. I don't think it is heading in the direction of stability.
WHITT
(2,868 posts)on the other end what currency they will accept, which has no effect on the service.
PortTack
(32,783 posts)Lovie777
(12,306 posts)and Putin know that as well as China.
PortTack
(32,783 posts)uponit7771
(90,347 posts)... and hit them hard.
Fuck em
PortTack
(32,783 posts)Settle this diplomatically. Doesnt sound like China is as much on board as he is saying...or thinks. China knows they cant screw over the US at least completely. Too much trade there.
uponit7771
(90,347 posts)... fund they're busting on Ukraine runs out