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IPFS News Link • Corbett Report

The Death of SWIFT and the (Engineered) Death of the Dollar


Remember when I told you about "China's SWIFT Alternative and the (Engineered) Death of the Dollar"? Well, now it's Germany's turn to get in on the act.

As the Rothschild Financial Times reports:

Germany's foreign minister has called for the creation of a new payments system independent of the US as a means of rescuing the nuclear deal between Iran and the west that Donald Trump withdrew from in May. Writing in the German daily Handelsblatt, Heiko Maas said Europe should not allow the US to act "over our heads and at our expense." "For that reason it's essential that we strengthen European autonomy by establishing payment channels that are independent of the US, creating a European Monetary Fund and building up an independent Swift system," he wrote.

Boom. There it is.

As I wrote in these pages earlier this year, the scrapping of the Iranian nuclear deal was the international crisis that was needed to tip the scales and nudge the EU out from under the umbrella of the post-WWII American World Order and into the clutches of the New Eurasian Order that President-For-Life Xi is busy constructing with his Belt and Road project. That Belt and Road vision of a united Eurasian trading space is not just about building highways and rail lines; a key aspect of that vision is the creation of an alternative payment system that bypasses the American-dominated SWIFT network.

But before we get too carried away, let's get back to basics: What is the SWIFT network? SWIFT is an acronym that stands for the Society for Worldwide Interbank Financial Telecommunication, and, as the name suggests, it is a telecommunication service that is used by banks to settle international transactions. You can read all about the SWIFTNet messaging platform and the wonders of standardized international financial communications on the official website, but suffice it to say, if you're a bank you need to be on the SWIFT network to be able to do international business.

Just ask the Iranian banks. Back in 2012 they were de-listed from the SWIFT Network after Uncle Sam pressured the network (via the EU Council) to ban sanctioned Iranian banks. This event gave the lie to SWIFT's professions of being a non-political entity, proving that, at the end of the day, the network will block any nation that finds itself in the cross hairs of the American Empire.