New digital economic system and global digital currency on the horizon…
Interesting analysis on removing Russia from SWIFT system: What are the consequences of US & EU kicking Russia off SWIFT System?
Will it hurt Russian Economy? Economists like Raghuram Rajan want you to believe this.
But, Removing Russia from SWIFT could be exactly what Russia, China and Bharat desire.
Why? Read on.
SPFS ('System for Transfer of Financial Messages') is a Russian equivalent of the SWIFT financial transfer system, developed by the Central Bank of Russia. The system has been in development since 2014, after US Govt threatened to disconnect Russia from the SWIFT system.
There are plans to integrate the SPFS network with the China-based CIPS (Cross-Border Inter-Bank Payments System).
If either of those then interconnect to Bharat's SFMS,
Can you imagine the effect?
If Russia is removed from SWIFT, the blow to the US economy, and especially that of EU would be enormous. The vast majority of SWIFT transactions are settled in US dollars, which helps solidify the US currency status as the global reserve currency.
This gives the US tremendous influence over the world economy, therein lies the real power.
If Russia + China + Bharat come up with an alternate system to compete against SWIFT that will be a competing currency transactional system and it'll further weaken the US dollar.
Not to mention Russia is the second largest exporter of energy and China is the largest manufacture exporter with Bharat fast catching up.
They could start their own economy & adopt existing partners such as African countries (largest precious mineral producer) and Saudi Arabia (third largest energy producer) putting Europe and United States economy on back foot extensively.
By Removing Russia (one of the biggest oil producers) from Swift, USD will be DESTROYED as global currency as oil,most traded commodity in world, is paid in USD.
If "forced to leave SWIFT", Russia will expand SPFS internationally, and nations that intend to keep importing Russian oil & natural gas will have to join Russia's new banking transaction system
And you know that Russian Gas is cheapest which no-one can afford Not to have.
If Russia breaks from SWIFT, watch for China & Bharat to announce same. We are actually watching the destruction of the USD taking place be4 our eyes.
Other countries will be more than happy to assist with this New System which gives them a chance to improve their currency.
Start looking for words "Eurasian Union" to appear in articles very soon. We are getting closer to the new digital economic system and global digital currency soon. What is horrific is that developed countries [US etc] will drop from having 80% of World's income to 35%.
Ordinary Americans calling for Russia to be ejected from SWIFT, do not realize that US uses the dollar to borrow at discounted rates, that debt is $30Trillion as of today, so if the dollars' influence is reduced, US transactions would be much more expensive.
US economy will be on verge of destruction while paying interest elements only.
While costs for businesses would pass on to US consumers, Americans would have to then pay more for everything. Are they ready for that? Are US politicians & companies ready for that as well?
Do you still think that President Putin acted in haste with Ukraine Offensive?
Everything is calculated & pre-planned. And....If you still think that PM Modi discusses with Putin about ONLY safety of Bharat's citizens in Ukraine, then may God bless your Innocence.
Make money with our Bank Nifty Option Tip everyday and not to forget we have been voted as the best Bank Nifty option tips providers in India.
You
should Trade Less But Trade Accurately & this is Achieved with our Tip.
