Russia Preps for Epic Split With Global Banking Cartel by Dumping US Dollar for Gold
By Claire Bernish
TheFreeThoughtProject.com
March 30, 2017
As relations with the West continue to deteriorate — and the potential for crushing sanctions remains tangible — President Vladimir Putin has begun preparing to release Russia from the crushing grip of the international banking system completely, by moving to a nationalist model based and conducting transactions with allies in gold.
In short, Russia has plans to abandon central banks and the dollar — if, indeed, shit hits the fan.
Russia isn’t alone — the move away from the much-maligned, Western-centric international banking cartels toward a system less dependent on massive banks comprises a new plan for BRICS nations (Brazil, Russia, India, China, and South Africa) and their allies to vacate the almighty dollar and assert independence.
For Putin, the bulk issue pertains to the Worldwide Interbank Financial Telecommunication, or SWIFT, system — which allows for speedy and secure financial transfers worldwide — and threats from the United States and its allies to cut Russian banks from access.
“In layman’s terms,” Matthew Allen reports, “SWIFT allows for fast and (allegedly) secure international financial transfers. In fifty years when you are able to use your Bank of America debit card on the Moon (for a low fee of 2,000 moon rubles), it will be because of SWIFT or a system similar to it.”
Economists have repeatedly warned of possible perils in eliminating Russia from the SWIFT system, but in 2014 — when the U.S. imposed sanctions against Moscow — Putin decided not to take any chances and began working on a system more insular and secure for the country and its allies.
Ewald Nowotny, policymaker for the European Central Bank, warned in 2015 cutting Russia out of SWIFT would be “very problematic because it could perhaps undermine confidence in this system,” and, were that to occur, it “could of course affect all companies that do business in Russia.”
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