Topic: U.S. Contemplating Isolating Russia from SWIFT Banking System (Read 850 times)

Now it all makes sense. Two to three weeks ago we are all here talking about Russia's sudden softening towards Bitcoin and what could it mean for crypto. So this was why, they were planning a full-scale invasion and covering their backs in case they get blocked from using SWIFT. The question is, how effective would be a transition to using Bitcoin would be for them? Would it make up for losing SWIFT?

I am astonished by the amount of intellectual dishonesty about Russian sanctions: economic sanctions, but not on the energy field. Ban from the rest of the world, but not from swift ( I have to see it to believe it).
The fun part is that Europeans caused their own problems banning nuclear…

Soon Europeans will learn their energy don't come from unicorn farts. It is gas & oil that matters. Batteries, wind turbines, solar panels... these are all dead ends. Their maintenance costs money, they are not practical, they are not cheap to build , they are not even environment friendly as they say. All those dead lithium batteries will fuck the soil up.

Apparently, EU block is leaning toward Russia Exclusion:

EU Edges Toward Supporting Expulsion of Russia From SWIFT System


Apparently, Italy’s Draghi told Zalensky hes’t opposing the measure anymore.
This is a “nuclear option” that requires the unanimous approval by member State. Very difficult.

With recent developments, there was a lot of chatter about this possibility.
Italy and Germany are against this possibility for the following reason.

• European firms wouldn’t be able to pay for the gas they need to purchase. Germany gets 55% of their gas from Russia, just to give you an idea.
• European companies spellings their goods in Russia, wouldn’t be able to get the payments for the goods they sold
• cutting Russia out of SWIFT would force them to create an alternative system. This would most certainly involve China. The creation of an alternative payment system alongside SWIFT (and, incidentally, Bitcoin) would imply a weakling of the dominant US position on international settlements. This would be an enormous cost 8n the future.

While the first reasons are quite trivial (I even discussed one of those in a previous post in this thread), the third comes quite new for me, and it is very interesting on a strategic point of view.
It also make clear because nation states will fight against bitcoin with all their forces.

It is very bad to use distorted or deliberately distorted information. As well as a broken causal relationship. I explain.

1. Let's start simple. EU and gas. Now for some reason you "confused" the essence of the problem. The problem is not that "people are freezing", but that someone has engaged in economic terrorism, and with particular cynicism, and covering it all with a huge layer of lies! They say in Russia that the EU does not order gas, that they have not heard about any short deliveries, everything is going on as before, they say “we have nothing to do with it, we don’t know anything, though if you don’t agree on SP2, we will further reduce gas supplies to the EU. So where is it?” real problem?
2. NATO. I'll just voice one fact: over the past 10 years, the number of NATO military contingents in the EU has decreased 10 times! Many structural subdivisions and units were disbanded... And now tell me - over the past 20 years, in the expanses of the post-USSR, who has ALWAYS been the aggressor and unleashed local conflicts? NATO?
And one more small question - who carries out terrorist attacks in other countries using chemical warfare agents? NATO? Ukraine?
I, as a resident of Ukraine, can say that until 2014, inside Ukraine, there were very few movements towards NATO! It was not an important or noticeable trend. But after it was Russia that violated the Budapest Memorandum, annexed Crimea, the LPR/DPR, Ukraine is FORCED to look for ways to protect its independence, the integrity of its territory. So who pushed Ukraine into NATO?

Agreed, the US policy on Russia with SWITCH is one that is unfair to both sides.  Their heated political conditions do not have to take policies that destroy the economy of innocent people.  Before the Europeans freeze to death, those in Russia will starve to death.  This is a sad condition.  Regarding Russia intervening and threatening to conduct very large-scale war games, this is also due to NATO.  If they had not grown up in Ukraine then Russia would not have been .

That's now how it works, SWIFT is nothing but a message system that allows rapid settlement, you can still pay via a bank transfer even if those are not enrolled in the swift program, Rusia had just one bank for 5 years there and only after the fall of the soviet union, yet they were still processing payments, they were still selling gas and oil to Europe even before that.
It's not that Russian banks will be banned from interacting with European banks, it simply means they will have to run without the help of SWIFT, maybe revert to telex or carrier pigeons, half of the world doesn't even use it and they are still able to run trades.

Oh btw, you forgot the part of Russians dying of hunger before Europeans freeze since without selling gas they are penniless, they can't even import Italian caviar.

Europe will be able, with some losses, to reorient itself to other oil and gas markets, except for the Russian one, and they will also more intensively switch to alternative energy sources there. But when this happens, it will already be irreversible for Russia. If Russia loses the European market, it will also be a catastrophe for its economy. Moreover, in Europe, and so they intend to gradually abandon oil and gas in general due to global climate change.
If Russia is disconnected from the SWIFT international banking system, this will be a trigger for it, after which big problems will appear for it one after another, and I don’t know if the Russian economy will be able to survive then.

Question. Please list what Russia supplies to the world market, except for weapons, oil, gas, terrorism?
I am sure that Russia's withdrawal from the arms market, or at least a drop in supplies, will only play into the hands of the rest of the market players. And the resources ... Russia does not supply unique resources. Many people have oil and gas, it is only necessary to organize logistics ...
And if suddenly someone thinks that Russia supplies the world with unique goods / services / technologies - list them here Just do not attribute to Russia the technologies of the USSR, on which the entire industry of Russia has been based until today. By the way, if you study history, you will find out that most of these USSR, in those days, were simply stolen from the West
Understand a simple thing - Russia depends on Western goods and technologies, and not vice versa!

For Russia to be cut out of that SWIFT system, they'd have to agree among the NATO members who are trading partners with Russia which Germany and a few more countries didn't agree.  It's not happening because European countries are finding ways to have more trading partners close to China. European countries couldn't afford to lose the opportunities that China and Russia could give.

Europeans created this trouble for themselves with their stupid tree hugging policies. First of all, they closed down the nuclear and thermal powerplants. And then they delayed the approval of the Nord Stream 2 pipeline. BTW, it was a brilliant idea to set up wind turbines where there is not enough wind and solar panels in areas close to the Arctic circle. And now with their storage levels at all time low, they are provoking Russia. LNG cargoes from the United States are being diverted to East Asia, since the buyers there are offering higher prices. Once Russia turns off the gas supply to Europe, I expect spot LNG prices to climb to around $2,000 per thousand cubic meters.

Of course, every possible measure must be sure not to backfire against the US:

Wall Street Briefed by Biden Team on Possible Russia Sanctions



Yeah right. The US cuts Russia from SWIFT system, European cannot pay for gases anymore, the Russians cut the gas, Europe die freezing… wonderful.

You probably remember about such a country as the USSR. So, if we compare it with today's Russia, then its economy, industry, army, and share in the world economy were an order of magnitude stronger. It must be understood that today's Russia (from the point of view of the economy and industry) is "wearing things from the dead USSR." Today's Russia is much weaker economically, has a much weaker industrial base, which has been degrading in recent decades. No one will fight with full-scale hostilities, why ruin the lives of their citizens?! Simple economic sanctions killed a fairly powerful USSR. And to finish off this unsuccessful miscarriage of the USSR, with the same measures, is not a problem. Internal tension in the Russian Federation is high, the problems of the population are growing like a snowball, while every day on TV they talk about another victory of Putin over the "decaying West", and when they go to the store, seeing constantly rising prices and a global decline in the quality of goods and services, they understand that so far Putin is only defeating his own people ... It is enough to tighten the noose, and they themselves will demolish the regime ...

your thread is good bro, it is very interesting to discuss. Maybe this system has been used for a long time for cross-border transactions, WIFT stands for Society for Worldwide Interbank Financial Telecommunication, this will be very helpful especially in my country, there are indeed many workers in foreign countries without have to go home first to just give money to his family, after crypto emerged I prefer this transaction which can be cheaper and faster and has no minimal fees so it's better than banking. Is your question political suicide or an open source monetary network? collect some information developments until this second tread continues developments must continue to be monitored from several media.
is there an information link from the thread you made before? or today's developments.thanks

All the best with Kaliningrad (Königsberg / Karaliaučius). That territory is home to some one million Russians and the Russian Baltic Fleet is based there (with additional garrisons at Baltiysk). Any attempt to take this territory will results in hundreds of thousands of deaths for the invading party. Neither the US, nor their allies in that region (Poland, Lithuania, Latvia.etc) are willing to take this risk. Transnistria is slightly less problematic, with a minimal Russian army contingent of <2,000 personal. But any attempt to invade that territory will result in Russia launching an all-out war against the invaders.

Let me remind you again - it was Russia that signed the treaty on ensuring the inviolability of Ukraine, as well as protecting its integrity, within the borders that were at the time of the signing of the Budapest Memorandum. There are more such examples, promises and even signings, and subsequent violations of these promises on the part of Russia than kept promises ....
The entire top of the Kremlin, all propaganda channels are hysterically yelling that Ukraine must be destroyed, that it should not exist, that some Russian speakers are suffering there! By the way, I am Russian by origin, a citizen of Ukraine, a Russian speaker But no one forbids me to communicate in my native language ... Now the rhetoric has changed - after Russia issued their passports on the temporarily occupied territory of the DPR / LPR, they will already hysteria that "they are obliged to protect OWN CITIZENS!". Their citizens on the territory of Ukraine!!! Maybe it is necessary to simply take them, their citizens, to their native territory?

Well, about the rest - you are just like the TASS news in the 70s - "insidious imperialists want to get our resources" )) You understand that having captured such a territory, its maintenance will result in huge costs. The US is cheaper and easier to PRINT OWN PAPERS, for which the Kremlin thieves sell all Russian resources, beautifully packaged, and asked where to deliver!

There actually seems to be some backtracking on this threat and it could end up backfiring in the long run as well. If you cut off all Russian consumers and the Russian government away from the SWIFT system, you force them to implement another system - which plays right into Putin's hands. He is already super comfy and doesn't particularly care how this would damage the average Russian because he is able to effectively crush dissent at the moment and this sort of ban would give him more power over local transactions. You can also bet that the American controlled system is able to extract a lot of useful information from the billions of transactions that take place in this system every year, which might become unavailable if it was on another network.

Because I don't really see the reason why they need to manufacture war over and over. When in fact Russia didn't want war. No one wants war. I hope the US will actually realize that there is no need for war. Unless of course, they want something from Russia which they could only achieve by launching a war. If they can't do it, they need a sanction that already failed.

They did this to Iraq claiming Saddam has weapons of mass destruction but in the end no weapon but his golden handgun. It's all lie. And this Ukraine invasion is also a lie.

You see, this is the Russian mentality, for you, everything is about grabbing a club and taking what you want if somebody protests beat him to death or throw him from those Russian windows with 99% fatality rates.


Of course, how could we compare the utopia Comecon created with the Marshall Plan?

Next time please only bother to reply when you can say things that actually make sense.