Posted on 04/02/2017 3:35:50 PM PDT by Tours
If the Society for Worldwide Interbank Financial Telecommunication (SWIFT) is shut down in Russia, the country’s banking system will not crash, according to Central Bank Governor Elvira Nabiullina. Russia has a substitute.
"There were threats that we can be disconnected from SWIFT. 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," Nabiullina said at a meeting with President Vladimir Putin on Wednesday.
She also added that 90 percent of ATMs in Russia are ready to accept the Mir payment system, a domestic version of Visa and MasterCard.
Izvestia daily reported that as of January 2016, 330 Russian banks had been connected to the SWIFT alternative, the system for transfer of financial messages (SPFS).
In 2014 and 2015, when the crisis in relations between Russia and the West were at their peak over Crimea and eastern Ukraine, some Western politicians urged disconnecting Russia from SWIFT.
In November 2015, Nabiullina said the SPFS was close to being completed.
The central bank’s website says the system was established “as an alternative channel for interbank cooperation with the aim of ensuring the guaranteed and uninterrupted provision of services for the transmission of electronic messages on financial transactions.”
At present, the system has some drawbacks. It doesn’t work from 9pm to 5am Moscow time and costs up to five cents per wire transfer, which is regarded expensive.
I’m sure that add a great deal of confidence in the Russian banking system.
Russia disconnects from the Rothschild debt slave system
Which will be the real cause for WW3.
Brings up the question, what measures do we have?
“Russia disconnects from the Rothschild debt slave system.”
How did you go about converting all your dollars to rubles and depositing them in a Russian bank?
“Russia disconnects from the Rothschild debt slave system...”
In the past, such behavior usually results in Uncle Sam starting a war with any nation being so bold.
However, Russia can strike back with nukes. The game is getting very interesting.
If China also disconnects from SWIFT then the fireworks will begin....
How did you go about converting all your dollars to rubles and depositing them in a Russian bank?
Third party transfers Via London, Switzerland, Hong Kong, Cayman Islands, Channel Islands, Isle of Wight, Bermuda, UAE etc. Many countries can play both sides and profit immensely.
Having an alternative to the SWIFT system is a good thing.
“Brings up the question, what measures do we have?”
I think they are discussing the software service that powers Russian ATM’s and credit card payments, such as point of sale debiting. If that’s the case, and they are using one or a limited number of foreign based and controlled software applications then they needed a trustworthy home-grown alternative. The US, on the other hand, is probably the host of most of those suppliers. Competition for your POS and ATM business must be fierce.
“There is a rumour that Obama also threatened to take the Vatican off SWIFT as well. The result of that was that Pope Benedict resigned.”
I find it amazing how little media attention has been brought to bear on Benedict’s resignation. The globalist deep state apparently wanted him gone. I’d like to know why?
The US Dollar ( and access to it) is the greatest weapon the USA has
The USD as reserve currency and the petro-dollar are at risk with BRICS raising a viable alternative to SWIFT. The greenback could become a poor competitor to Charmin pretty quickly.
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