S.W.I.F.T./C.I.P.S. systems, Global Economics

[Hooked on Fenix]

I wanted to start a thread on the S.W.I.F.T. and C.I.P.S. banking systems and how they play a role in global economics today. So what are these systems? S.W.I.F.T. stands for The Society of Worldwide Interbank Financial Telecommunications. It's a global banking code system used to do wire transfers. We have recently found out about this system and the scary aspects of it in how it can shut down a protest by allowing a government to freeze all of someone's accounts or for a country under sanction to do the same and destroy a nation's economy. In the case of nations, they don't tend to like having their economy bankrupted so they go to a nearby country for help, let's call them China. China doesn't want to deal with sanctions, but they would love to get their hands on cheap oil that the other nation can't get rid of. Just in case China does get sanctioned, they hedge their bets. They set up another system to replace S.W.I.F.T. called C.I.P.S. which stands for Cross-Border Interbank Payment System and get other countries to join too (Russia, India., etc.). They then get Saudi Arabia to sell oil in Chinese Yuan instead of the U.S. dollar. With China cutting off a good chunk of the world's economy from the S.W.I.F.T. system and controlling much of the oil, food, minerals, etc. they can position themselves to replace the U.S. as the most powerful nation in the world and are set up to replace the U.S. dollar with the Chinese Yuan. If the U.S. dollar loses it's status as the world's reserve currency, people will stop buying U.S. debt (treasury notes) and the economy could tank. This is just a possibility, but it's leaning in that direction.

Note of warning: Please keep this economics related. This can potentially hurt you in the wallet and you should be aware of what's coming. That said. I don't want any war talk, nation bashing, name calling, or anything else that will lead to hurt feelings..

 

[kerneldrop]

Let's be real...that is war talk.
There is no way to misinterpret that string of actions as wanting to weaken/cripple America.

 

[bykfixer]

I don't forsee this one lasting very long but I'll play while I still can.

Some of the dire predictions have very real possibilities but……America can still rule the monetary system simply because we have so dang many resources. If the world decides the Russian rooble for example is the way to go the US still has a vast amount of resources. And right now Isreal is sitting on a supply of oil that dwarfs those other countries.
Programable currency scares me more than those other things. A system where unelected folks in the US can determine what people are allowed to buy or not. Say the wrong thing on social media, poof your money is no good at "woke" companies. Unless we learn to be self sufficient the and the populace has very limited in purchasing power, all those tin hat wearing preppers may not look so crazy afterall.

 

[Hooked on Fenix]

This is is about the international banking systems. They play a key role in trade and how our nations interact with each other. A trade war or competition between nations for who is on top can play out without going into an all out shooting match. While I know with current events we may entertain possibilities of events devolving into such scenarios, let's not jump the gun and drag this down to discussing war, which will shut this down all together. There is enough to talk about with the economics that affect our day to day lives. Every country looks out for it's own self interest, that includes China. That does not make them bad, or an enemy. Maybe we just need to start doing the same.

 

[Hooked on Fenix]

Here's a news story about Saudi Arabia considering selling oil in Chinese Yuan. Might happen, might not. Could have an effect on weakening the U.S. dollar's status as the world's reserve currency if this takes place.

 

[Empath]

I would recommend that we do educate ourselves on these matters, but CPF isn't the place for it. There is nothing within the topics or themes we embrace or encourage that include it.

Still, for those that wish to go off-topic for such a volatile subject, we do provide an area for such discussion among our CPF friends. Our Underground welcomes you and your opinions. That and the wealth of such information and discussion on the net should provide ample opportunity to stay current.

Stay safe and informed.