When SWIFT disconnected Russian banks from its system, it broadcast a powerful, history-changing message to the world: If you want to have reliable commerce on a global scale, don’t use SWIFT or the dollar. Otherwise, your nation (or bank, or business, etc.) can be cut off at any time merely because you have a political disagreement with the Biden regime.
Thus, right now there is a mass exodus away from reliance on the SWIFT system. There’s also a rush out of the dollar itself as international companies dive into the Chinese yuan as a more stable currency that can still engage in financial transactions with Russia. This is why the yuan is exploding in value right now, by the way. Continue reading
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