Russia and China Create Their Own Payment Systems.

[Balu]

"Russia Creates Its Own Payment System
Published: February 16, 2015




...Almost 91 domestic credit institutions have been incorporated into the new Russian financial system, the analogous of SWIFT, an international banking network.

The new service, will allow Russian banks to communicate seamlessly through the Central Bank of Russia. It should be noted that Russia’s Central Bank initiated the development of the country’s own messaging system in response to repeated threats voiced by Moscow’s Western partners to disconnect Russia from SWIFT. ..."

http://www.blacklistednews.com/Russia_Creates_Its_Own_Payment_System/41887/0/38/38/Y/M.html

"...


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What SWIFT? China Too Launches its Own Payment System

</tbody>

<tbody>
Monday, 09 March 2015



One of the recurring threats used by the Obama regime in its cold (and increasingly more hot) war with Russia, is that Moscow may be locked out of all international monetary transactions when Russia is disconnected from the EU-based global currency messaging and interchange service known as SWIFT (a move, incidentally, which SWIFT lamented as was revealed in October when it announced it "regrets the pressure" to disconnect Russia).

Of course, in the aftermath of revelations that back in 2013, none other than the NSA was exposed for secretly 'monitoring' the SWIFT payments flows, one could wonder if being kicked out of SWIFT is a curse or a blessing, however Russia did not need any further warnings and as we reported less than a month ago, Russia launched its own 'SWIFT'-alternative, linking 91 credit institutions initially.


This in turn suggested that de-dollarization is considerably further along than many had expected, which coupled with Russia's record dumping of TSYs, demonstrated just how seriously Putin is taking the threat to be isolated from the western payment system. It was only logical that he would come up with his own.

There were two clear implications from this use of money as a means of waging covert war: i) unless someone else followed Russia out of SWIFT, its action, while notable and valiant, would be pointless - after all, if everyone else is still using SWIFT by default, then anything Russia implements for processing foreign payments is irrelevant and ii) if indeed the Russian example of exiting a western-mediated payment system was successful and copied, it would accelerate the demise of the Dollar's status as reserve currency, which is thus by default since there are no alternatives. Provide alternatives, and the entire reserve system begins to crack.

Today, we got proof that it is the second outcome that is about to prevail following a Reuters report that China's international payment system, known simply enough as China International Payment System (CIPS), which serves to process cross-border yuan transactions is ready, and may be launched as early as September or October.
According to Reuters, the launch of the will remove one of the biggest hurdles to internationalizing the yuan and should greatly increase global usage of the Chinese currency by cutting transaction costs and processing times.
It will also put the yuan on a more even footing with other major global currencies like the U.S. dollar, as CIPS is expected to use the same messaging format as other international payment systems, making transactions smoother. ..."

http://macedoniaonline.eu/content/view/27082/52/



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[Kathianne]

I'm getting the impression that Balu is a 'lone wolf' for Russian propaganda at best. It might be more effective to become part of something that is not quite so heavy handed.

[Tyr-Ziu Saxnot]

I'm getting the impression that Balu is a 'lone wolf' for Russian propaganda at best. It might be more effective to become part of something that is not quite so heavy handed.

I think so myself but he is good entertainment in a sad sort of way. As I suspect that he believes in what he posts. Thats why its so sad.
He is quite likely to be quite intelligent but thats no safeguard against being brainwashed. -Tyr

[indago]

I think so myself but he is good entertainment in a sad sort of way. As I suspect that he believes in what he posts. Thats why its so sad.
He is quite likely to be quite intelligent but thats no safeguard against being brainwashed. -Tyr

What is it in the article posted you are denying?

[Balu]

I'm getting the impression that Balu is a 'lone wolf' for Russian propaganda at best. It might be more effective to become part of something that is not quite so heavy handed.
I want to clarify the point. I am a pensioner and I don't need to work anywhere. I am here to refresh my English as I am planning to bring my grandson to a couple of countries I worked in.
As to my points of view they were formed many years ago and were only strengthened for years. You see, I've graduated from the same Institute as Mr. Lavrov, but a year later. So, I am rather informed an experienced in subject I am touching. In addition I know several languages and unlike most of the forum members I am able and accustomed to use different sources of info. And as far as I met a lot of journalists in my life I KNOW how ALL of then work. If you believe in independent journalists you are too naive, a charming lady with a rifle. http://www.kolobok.us/smiles/standart/smile3.gif

[Polite Russian]

I think so myself but he is good entertainment in a sad sort of way. As I suspect that he believes in what he posts. Thats why its so sad.
He is quite likely to be quite intelligent but thats no safeguard against being brainwashed. -Tyr


dont you think, that ALL of us are brainwashed somehow?
Or you think, that you are the only one, who know the real "truth"? So you, me, Balu, and the others... all of us are brainwashed. :) You - by your government, we - by ours.
But we got a chance to speak here, without "mass-media", and at the resolt we can find the truth ) All we need is to listen each other and be honest.

I hope you understand me right. :3

[tailfins]

dont you think, that ALL of us are brainwashed somehow?
Or you think, that you are the only one, who know the real "truth"? So you, me, Balu, and the others... all of us are brainwashed. :) You - by your government, we - by ours.
But we got a chance to speak here, without "mass-media", and at the resolt we can find the truth ) All we need is to listen each other and be honest.

I hope you understand me right. :3

These people are making this WAAAAY too complicated. I presume you decided whom to support your elected officials as follows: Life sucked under leader "A", it sucks less under leader "B", therefore I support leader "B".

[aboutime]

"Russia Creates Its Own Payment System
Published: February 16, 2015




...Almost 91 domestic credit institutions have been incorporated into the new Russian financial system, the analogous of SWIFT, an international banking network.

The new service, will allow Russian banks to communicate seamlessly through the Central Bank of Russia. It should be noted that Russia’s Central Bank initiated the development of the country’s own messaging system in response to repeated threats voiced by Moscow’s Western partners to disconnect Russia from SWIFT. ..."

http://www.blacklistednews.com/Russia_Creates_Its_Own_Payment_System/41887/0/38/38/Y/M.html

"...


<tbody>
What SWIFT? China Too Launches its Own Payment System

</tbody>

<tbody>
Monday, 09 March 2015



One of the recurring threats used by the Obama regime in its cold (and increasingly more hot) war with Russia, is that Moscow may be locked out of all international monetary transactions when Russia is disconnected from the EU-based global currency messaging and interchange service known as SWIFT (a move, incidentally, which SWIFT lamented as was revealed in October when it announced it "regrets the pressure" to disconnect Russia).

Of course, in the aftermath of revelations that back in 2013, none other than the NSA was exposed for secretly 'monitoring' the SWIFT payments flows, one could wonder if being kicked out of SWIFT is a curse or a blessing, however Russia did not need any further warnings and as we reported less than a month ago, Russia launched its own 'SWIFT'-alternative, linking 91 credit institutions initially.


This in turn suggested that de-dollarization is considerably further along than many had expected, which coupled with Russia's record dumping of TSYs, demonstrated just how seriously Putin is taking the threat to be isolated from the western payment system. It was only logical that he would come up with his own.

There were two clear implications from this use of money as a means of waging covert war: i) unless someone else followed Russia out of SWIFT, its action, while notable and valiant, would be pointless - after all, if everyone else is still using SWIFT by default, then anything Russia implements for processing foreign payments is irrelevant and ii) if indeed the Russian example of exiting a western-mediated payment system was successful and copied, it would accelerate the demise of the Dollar's status as reserve currency, which is thus by default since there are no alternatives. Provide alternatives, and the entire reserve system begins to crack.

Today, we got proof that it is the second outcome that is about to prevail following a Reuters report that China's international payment system, known simply enough as China International Payment System (CIPS), which serves to process cross-border yuan transactions is ready, and may be launched as early as September or October.
According to Reuters, the launch of the will remove one of the biggest hurdles to internationalizing the yuan and should greatly increase global usage of the Chinese currency by cutting transaction costs and processing times.
It will also put the yuan on a more even footing with other major global currencies like the U.S. dollar, as CIPS is expected to use the same messaging format as other international payment systems, making transactions smoother. ..."

http://macedoniaonline.eu/content/view/27082/52/



</tbody>



I think this is a wonderful idea. It will solve all of the FINANCIAL BURDENS of the U.S.A. and our debt should no longer be viable, or due.
If China, and Russia no longer recognize the U.S. Dollar that created their combined Wealth.
The U.S Owes China, and Russia NOTHING since our DEBT was all in U.S.D.
Finally...The National Debt Overseas no longer applies!:salute:

[Balu]

I think this is a wonderful idea. It will solve all of the FINANCIAL BURDENS of the U.S.A. and our debt should no longer be viable, or due.
If China, and Russia no longer recognize the U.S. Dollar that created their combined Wealth.
The U.S Owes China, and Russia NOTHING since our DEBT was all in U.S.D.
Finally...The National Debt Overseas no longer applies!:salute:
You are rather funny. Every transaction of every payment for foreign trade contracts if effected in dollars is made via American banks and they enjoy their commission. Now the BRICS countries (Brazil, Russia, India, China, South Africa) are rejecting dollars in our mutual payments. So, you'd better speak about the subjects you are aware of. http://www.kolobok.us/smiles/standart/smile3.gif

[aboutime]

You are rather funny. Every transaction of every payment for foreign trade contracts if effected in dollars is made via American banks and they enjoy their commission. Now the BRICS countries (Brazil, Russia, India, China, South Africa) are rejecting dollars in our mutual payments. So, you'd better speak about the subjects you are aware of. http://www.kolobok.us/smiles/standart/smile3.gif

I actually agree with you. This entire idea is terribly funny, and I am aware of the subject. IF BRICS rejects the American currency (dollars). Think about it. Our ONLY currency in the USA is the U.S.Dollar. Take it, or leave it.

I know you have nothing to do with any of this. But based on WHO is presently called our President. I take it seriously because HE (Obama) has less experience, or knowledge on this subject than YOU, or I. And that's NOT FUNNY.

[Balu]

I actually agree with you. This entire idea is terribly funny, and I am aware of the subject. IF BRICS rejects the American currency (dollars). Think about it. Our ONLY currency in the USA is the U.S.Dollar. Take it, or leave it.

I know you have nothing to do with any of this. But based on WHO is presently called our President. I take it seriously because HE (Obama) has less experience, or knowledge on this subject than YOU, or I. And that's NOT FUNNY.
Please, read my post attentively. It said about MUTUAL payments. And then, 'softly, softly - monkey caught'. Thus it may be possible to shift our MUTUAL payments for contrcts with EU to the scheme 'euros - rubles' . http://www.kolobok.us/smiles/standart/smile3.gif

[aboutime]

Please, read my post attentively. It said about MUTUAL payments. And then, 'softly, softly - monkey caught'. Thus it may be possible to shift our MUTUAL payments with EU contacts to the scheme 'euros - rubles' . http://www.kolobok.us/smiles/standart/smile3.gif


Balu. Never mind. Try to learn from your training what the meaning of "tongue in cheek" means. Or, what it means when someone is joking with you.

[Tyr-Ziu Saxnot]

What is it in the article posted you are denying?

I was referring to Balu only in that post , not you or the article. --Tyr

[Balu]

Balu. Never mind. Try to learn from your training what the meaning of "tongue in cheek" means. Or, what it means when someone is joking with you.
You don't know, but I do that joking is a very weak point when two foreigners start joking. Several times a was very much confused. http://www.kolobok.us/smiles/standart/sad.gif

[revelarts]

I'm getting the impression that Balu is a 'lone wolf' for Russian propaganda at best. It might be more effective to become part of something that is not quite so heavy handed.

It's interesting to see people in other countries who fervently whole heartily support their leaders even in spite of clear negative aspects of their policies and acts. Even at times denying or downplaying some historical wrongs.
It's both refreshing and sad to know that mindset doesn't end with hard core flag waving republicans or blind utopian democrats in America (and the UK).

[aboutime]

It's interesting to see people in other countries who fervently whole heartily support their leaders even in spite of clear negative aspects of their policies and acts. Even at times denying or downplaying some historical wrongs.
It's both refreshing and sad to know that mindset doesn't end with hard core flag waving republicans or blind utopian democrats in America (and the UK).

rev. Does that mean you would rather be a Hard Core NON flag waving Democrat who finds Flag Waving obscene?