Good news for Russia
lol...let's see if anyone accepts their debit cards,
Topic: Russia introduces its own SWIFT payment system - page 2. (Read 1797 times)
lol...let's see if anyone accepts their debit cards,
As opposed to the western banking system, which is owned and operated by the most greedy criminals on the planet. Yea, real trustworthy.
Here is something interesting...which might or might not be connected to the establishment of an alternate financial system. Kerry said that if the sanctions on Iran were not removed it would mean war. From what I read, he was referring to the destruction of the dollar. Would it be because Russia and the other nations will trade with Iran in means which cannot be traced? You keep telling yourself that.
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Study: US is an oligarchy, not a democracy
James Risen: Obama hates the press
USA Today’s Susan Page: Obama administration most ‘dangerous’ to media in history
Journalists criticize White House for 'secrecy'
CBS News confirms Sharyl Attkisson's computer hacked
Reporter Sharyl Attkisson says feds hacked computer, CBS protected Obama
Pruitt: DOJ broke rules in phone records seizure
Justice Department’s scrutiny of Fox News reporter James Rosen in leak case draws fire
No-fly zone near Ferguson protests were meant "to keep media out"
what you are sure of is what putin tells you to be sure of....and no more.
Good news for Russia
no one will trust it.....because it is russian
As opposed to the western banking system, which is owned and operated by the most greedy criminals on the planet. Yea, real trustworthy. no but this does not make it more trustworthy, also everything done by russian look shady and confusing and they do not know what they want, like when they banned bitcoin and now they unbanned it
I always presumed Russia used Webmoney primarily
But this payment system will be helpful to them for intergrating their own credit cards to get rid of the Visa American Express Mastercard monopoly. (Sort of)
http://rbth.com/business/2015/04/02/visa_and_mastercard_join_russias_national_card_payment_system_44955.html
The international payment systems joined Russia’s newly-created National Card Payment System on April 1 in what can be considered the first step towards the creation of an autonomous financial system in Russia.
According to Khestanov, processing Visa transactions through the national system should be viewed as a compromise: The Russian government's control of the transactions will strengthen, but the international systems will continue to operate in Russia.
https://en.wikipedia.org/wiki/WebMoney
"The idea of establishing a national payment card was not a direct result of the sanctions,” said Dmitry Bedenkov, head of the analytical department at Russ-Invest. “Although the activation of the process began after the introduction of sanctions, this topic had been discussed to varying degrees earlier. The transition to a sanctions regime just increased the relevance of creating domestic payment systems," he said.
- http://rbth.com/business/2015/06/03/russia_unveils_new_national_payment_card_mir_46615.html)
But this payment system will be helpful to them for intergrating their own credit cards to get rid of the Visa American Express Mastercard monopoly. (Sort of)
http://rbth.com/business/2015/04/02/visa_and_mastercard_join_russias_national_card_payment_system_44955.html
The international payment systems joined Russia’s newly-created National Card Payment System on April 1 in what can be considered the first step towards the creation of an autonomous financial system in Russia.
According to Khestanov, processing Visa transactions through the national system should be viewed as a compromise: The Russian government's control of the transactions will strengthen, but the international systems will continue to operate in Russia.
https://en.wikipedia.org/wiki/WebMoney
"The idea of establishing a national payment card was not a direct result of the sanctions,” said Dmitry Bedenkov, head of the analytical department at Russ-Invest. “Although the activation of the process began after the introduction of sanctions, this topic had been discussed to varying degrees earlier. The transition to a sanctions regime just increased the relevance of creating domestic payment systems," he said.
- http://rbth.com/business/2015/06/03/russia_unveils_new_national_payment_card_mir_46615.html)
we have the freedom to criticize as we wish. the difference is we try to improve our banking system, russia sets their banking system up to steal.
You keep telling yourself that.Study: US is an oligarchy, not a democracy
James Risen: Obama hates the press
USA Today’s Susan Page: Obama administration most ‘dangerous’ to media in history
Journalists criticize White House for 'secrecy'
CBS News confirms Sharyl Attkisson's computer hacked
Reporter Sharyl Attkisson says feds hacked computer, CBS protected Obama
Pruitt: DOJ broke rules in phone records seizure
Justice Department’s scrutiny of Fox News reporter James Rosen in leak case draws fire
No-fly zone near Ferguson protests were meant "to keep media out"
i couldnt agree more about the western banking system but that comment is irrelevant pointless and a pitiful attempt at more rusky slight of hand. trying to change the subject doesnt alter the fact that putin is plain untrustworthy.
I am sure you think anyone who points out the hypocrisy and phoniness of westerners is a Rusky. i couldnt agree more about the western banking system but that comment is irrelevant pointless and a pitiful attempt at more rusky slight of hand. trying to change the subject doesnt alter the fact that putin is plain untrustworthy.
we have the freedom to criticize as we wish. the difference is we try to improve our banking system, russia sets their banking system up to steal.
Oh then it's not to protect themselves from Washington's manipulations? Interesting!
Then there's little difference between the Russian system and the US system. They both exist to serve plutocratic criminals. Americans should probably fix their own system before they worry about criticizing Russia.
we have the freedom to criticize as we wish. the difference is we try to improve our banking system, russia sets their banking system up to steal. As opposed to the western banking system, which is owned and operated by the most greedy criminals on the planet. Yea, real trustworthy.
i couldnt agree more about the western banking system but that comment is irrelevant pointless and a pitiful attempt at more rusky slight of hand. trying to change the subject doesnt alter the fact that putin is plain untrustworthy. Russian banking system will likely bail out crooks, thieves, liars, cheats, and the rest of Putin's relatives.
Then there's little difference between the Russian system and the US system. They both exist to serve plutocratic criminals. Americans should probably fix their own system before they worry about criticizing Russia. I wonder if Putin will do what the US government did and use the new Russian banking system to bail out plutocrats after they destroy the global economy for multiple years.
Russian banking system will likely bail out crooks, thieves, liars, cheats, and the rest of Putin's relatives.
it will be run by Putin, so it will be untrustworthy
I wonder if Putin will do what the US government did and use the new Russian banking system to bail out plutocrats after they destroy the global economy for multiple years.
no one will trust it.....because it is russian
As opposed to the western banking system, which is owned and operated by the most greedy criminals on the planet. Yea, real trustworthy. no one will trust it.....because it is russian
it will be run by Putin, so it will be untrustworthy SOURCE
It also is introducing its own credit rating agency too. Both moves mean that in the future Russia will not only ben independent of the western controlled banking and economic systems, but I suspect the infrastructure will become used by other nations also wishing to escape the clutches of the US dominance and dollar hegemony.
Having started the Ukraine war and imposing sanctions, the US has sown the seeds of their own future demise in regards to control of the world's banking system. Such is the consequence of the abuse of power imo.
Russia put in a national 'Swift' system when sanctions were applied for fear they would be cut off, and it's been working on an international one since then. The international one would not be using the American dollar, but local currencies. One currency would go into the system, and the currency of the receiving country would come out at the other end.
This of course would be harmful to the dollar as an international currency, but the dollar can't be cut off entirely without finding another standard to take its place. One of the problematic aspects to the US other than the eventual demise of the dollar, is that without the dollar, funds cannot be traced so sanctions cannot be applied.
Russia's intent, is to cut itself and the Brics off from the Western economic system so nations won't be vulnerable to Washington's whim. If successful, it will split the world in half.
As for the credit ratings, they have been politicized so as to harm Russia's economy, and the economies of any nation going against Washington's interests. So they are not reflecting a true value. For example China's credit agency has shown a way different outlook towards Russia than the three major agencies in the West.
no one will trust it.....because it is russian
Putting all the general Anti US propaganda BS in the statement aside ...
About 50% of all payments into Russia are still outside SWIFT/BIC since years and must be done by fax order etc. because Russian Banks still do not use! The rest of 50% are those payments done to Western banks having offices in Russia and where Russian companies have a bank account. These payment must be done with including BIC/SWIFT further by law ... and if not, these banks will loose licenses in the USA. So you can imagine that they will more closing their Russian branch as too loose the US market.
So at least a big statement and ridiculous announcement for nothing!
P.S.
Personally I'm not happy with the by the US full controlled SWIFT/BIC system ... no miss-understanding.
About 50% of all payments into Russia are still outside SWIFT/BIC since years and must be done by fax order etc. because Russian Banks still do not use! The rest of 50% are those payments done to Western banks having offices in Russia and where Russian companies have a bank account. These payment must be done with including BIC/SWIFT further by law ... and if not, these banks will loose licenses in the USA. So you can imagine that they will more closing their Russian branch as too loose the US market.
So at least a big statement and ridiculous announcement for nothing!
P.S.
Personally I'm not happy with the by the US full controlled SWIFT/BIC system ... no miss-understanding.
good move, about time.
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