Behind the Ukrainian fog of war lies the Western domination maintained thanks to the dollar and the SWIFT network. And while waiting for the advent of bitcoin, the cracks in the petrodollar system are getting thicker day by day.
NATO, the dollar and the SWIFT network
Russia is not short of missiles. On the contrary, NATO claims that we are on the eve of a major offensive. This was stated Monday by Jens Stoltenberg, Secretary General of the North Atlantic Treaty Organization.
The former Norwegian minister also admitted that “the war did not start in February of last year”. “It started in 2014, since when NATO has been training the Ukrainian army and providing it with equipment.”
“Unprovoked invasion”
These statements confirm what we already knew. Former German Chancellor Angela Merkel spilled the beans a few months ago by admitting the Minsk Accords were just a ruse ” to save time “.
The recent confidences of the former Israeli Prime Minister also go in this direction. Mr Bennett detailed how the Anglo-Americans killed the Ukraine peace process that was on track in Istanbul last year.
Moreover, everyone already knew it, but the investigation by journalist Seymour Hersh has confirmed that Washington is behind the attack on the Nord Stream I and II gas pipelines.
And while Joe Biden will travel to Warsaw on February 20, the Poles have cause to worry since he will certainly be asked to send Polish mercenaries to the front line.
All of this information suggests that the plan to sacrifice Ukraine to bring down Vladimir Putin is not new. Far from there. We instinctively feel that what is at stake in Ukraine is Western domination over the rest of the world.
The euro and the dollar represent 80% of foreign exchange reserves. As well as 80% of international payments made via the SWIFT (Society for Worldwide Interbank Financial Telecommunication) network.
If Russia humiliates NATO in Ukraine, many nations will join the sling. And Bitcoin too…
The Russian-Persian alliance opens the ball
Politicians around the world do not understand that bitcoin is an international reserve currency as well as a payment network (two-in-one). While waiting for them to face the facts, it is however encouraging to see that Russia and Iran have just connected their banking messaging systems.
Concretely, 52 Iranian banks are now connected to 106 Russian banks via the SPFS, the Russian equivalent of the SWIFT network. Duma Speaker Vyachslav Volodin also acted “the joint use of the national Mir and Shetab card payment systems”.
Iranian Ambassador to Moscow Kazem Jalali predicted that the ruble will be the main currency used for bilateral trade: “Today, more than 40% of trade between our countries is done in rubles.”
Mr. Jalali would also welcome the ruble becoming the main regional currency. And particularly within the Eurasian Economic Union (Belarus, Russia, Kazakhstan, Kyrgyzstan and Tajikistan) with which Iran is in the process of concluding a free trade agreement.
All this does not go unnoticed in the rest of the world. Many countries are waiting for the deployment of an alternative to the SWIFT network. Being disconnected from it is, in fact, synonymous with economic asphyxiation and hyperinflation. This network is a formidable weapon in the service of NATO.
Besides Russia and Iran, it goes without saying that Russia and China also have a strong intention to link their banking messaging systems. China’s CIPS (Cross-Border Inter-Bank Payments System) has been ready for years. However, Washington has directly threatened to expel Chinese banks from SWIFT in the event of interconnection with Russian banks.
Beijing could, however, let go now that the United States has imposed an embargo on the sale of the latest generation semiconductors. Not to mention the provocations vis-à-vis Taiwan and the weather balloon prank.
We would then observe a monetary schism since China is now the first trading partner of the vast majority of nations. So to choose between SWIFT and CIPS…
BRICS VS Dollar
At the same time, the BRICS are clearly announcing that they want to create their own reserve currency to no longer depend on the dollar. And the fact that central banks bought 1,136 tonnes of gold ($70 billion) in 2022 probably had something to do with it.
No less than 13 candidates have confirmed that they want to join the BRICS+. Russian Foreign Minister Sergey Lavrov has confirmed that Algeria, Iran and Argentina are top contenders.
The other three countries on the waiting list are Turkey, Saudi Arabia and Egypt. Cairo come moreover to integrate the new Development Bank which will be created by the BRICS. It is an alternative to the World Bank as well as the International Monetary Fund.
For the deputy the deputy Abdel-Hamid, “this membership will relieve the pressure exerted by the search for dollars to pay for the imports of the country. Indeed, members of the Development Bank will use their national currency to trade”.
MP Ahmed El-Awadi, head of the Defense and National Security Committee, also praised the fight against dollarization and opening new markets for Egyptian agricultural and industrial products.
Same story on the side of MP Mervat Mattar who believes that “the BRICS group is an important forum, capable of removing the world economy from the domination of the US dollar”.
“I believe that after joining the BRICS group and its new development bank, we will be able to conclude similar agreements with China, India, Brazil and South Africa”she added.
What about bitcoin?
A wind of monetary revolt is blowing in the four corners of the world, that’s for sure. And we bet that the dedollarization could greatly accelerate if Russia manages to stand up to NATO on its own.
Can the United States, a declining empire in debt of more than 32 trillion dollars, afford to expel the BRICS+ from the SWIFT network? No.
Especially since even Saudi Arabia, the centerpiece of the petrodollar system, is joining the sling. The Kingdom intends to join the BRICS group as well as the Shanghai Cooperation Organization.
Ryiad certainly fears for its hundreds of billions of dollars invested in Western debt. Especially since Poland and the Baltic states are insisting that frozen Russian foreign exchange reserves be paid to them. We are talking about 300 billion euros…
If Brussels and Washington default on a nuclear power, neither Saudi Arabia nor any other nation is immune. The world needs a new international reserve currency that no one can ‘freeze’. No need for the CBDC gasworks, or ridiculous gold-backed stablecoins.
Bitcoin has been operating continuously for 14 years. It will certainly pull out of the game sooner than you think. As such, note that the Russian government is increasingly supporting the bitcoin mining industry. This is also the case in Iran…
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