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China and Russia Creating Alternate Banking System

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China and Russia Creating Alternate Banking System
« on: Apr 15, 2017, 07:06:06 pm »
 

Satyagraha

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China and Russia Creating Alternate Banking System
https://www.corbettreport.com/china-and-russia-creating-alternate-banking-system/
Corbett • 04/16/2017



It may have arrived with little fanfare, but Russia’s SWIFT alternative has, more or less, arrived.

Speaking in no uncertain terms at a meeting with Russian President Vladimir Putin late last month, Elvira Nabiullina, the Governor of Russia’s central bank, stated: “We have finished working on our own payment system, and if something happens, all operations in SWIFT format will work inside the country. We have created an alternative.”

Now maybe this story taken by itself is no big news. But let’s look at it the context of recent events:

Russia just created its first ever representative office of the Bank of Russia abroad…in Beijing. This move brings Russia one step closer to issuing its own sovereign yuan-denominated bonds.

Meanwhile the Industrial and Commercial Bank of China is now officially acting as a renminbi clearing bank in Russia, which expands local settlement business in direct yuan-ruble trade and follows Russia’s 2015 inclusion of the renminbi on its official reserve currency list.

Are you starting to see the bigger picture? Again, no one of these stories is a silver bullet, but they’re all related and they all point in the same direction: China and Russia are preparing for the inevitable(?) split with the US-dominated, dollar-denominated, SWIFT-networked global(ist) financial architecture.
“He who passively accepts evil is as much involved in it as he who helps to perpetrate it. He who accepts evil without protesting against it is really cooperating with it.”
Martin Luther King Jr.
 

Re: China and Russia Creating Alternate Banking System
« Reply #1 on: Mar 01, 2019, 08:56:24 am »
 

Al Bundy

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February 26, 2019

AP:  " Under pointed questioning from senators, the top U.S. general for homeland defense said Tuesday that he sees no military threat coming from the southern border with Mexico, but his focus is on “very real” threats from China and Russia.
Air Force Gen. Terrence O’Shaughnessy, commander, U.S. Northern Command and North American Aerospace Defense Command, told a Senate committee that proposed barriers along the U.S.-Mexico border could increase security against any potential military threats coming from the south. But he said Russia’s advancements in training and capabilities, and its intent to hold the U.S. at risk, present an urgent threat to America...

https://apnews.com/a78120075dd4447aa4ba5902a3816c68



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Re: China and Russia Creating Pipeline and other projects
« Reply #2 on: Dec 02, 2019, 11:18:41 am »
 

Al Bundy

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