Asians Launching an Alternative to SWIFT

The dollar system is on a clock, counting down.

Global de-dollarization is going to be a complex and painful process.

But the first step is setting up alternate infrastructure.

RT:

The Asian Clearing Union (ACU) – a nine-member group of central banks including those of India, Pakistan and Iran – has decided to launch a new cross-border financial messaging system in June, as an alternative to SWIFT, according to the Iranian newspaper Kayhan.

The daily cited Central Bank of Iran deputy governor Mohsen Karimi as saying the new payment system is capable of completely replacing SWIFT and could facilitate the global de-dollarization push.

The regulator reportedly stated last week that the new financial system will be used only by ACU member-states, but that others, including sanctioned countries like Syria, could apply for membership. Belarus and Mauritius have already reportedly reached out to the union.

Speaking at the ACU meeting in Tehran last week, Central Bank of Iran governor Mohammad Reza Farzin claimed that dropping the US dollar would help to protect member states’ foreign exchange reserves while still enabling effective settlement of bilateral trade deals.

Iran’s economy minister recently revealed that less than 10% of the US-sanctioned country’s international trade was being conducted using the dollar, down from 30% two years ago.

Of course, they need an alternative to SWIFT, because they have no idea when the US is going to arbitrarily ban them from SWIFT as a result of some action the US doesn’t like.

Everywhere in the world you look, the people are abandoning the US hegemony. They are fleeing it like a sinking ship, in fact.

Fiona Hill is right.

By the way, I’ve been meaning to write about that Fiona Hill speech since I saw it.

I will at some point.

It’s important, because this is a top globalist literally saying everything I’m saying, word for word, in a speech meant for the other global elites.

These retards really shouldn’t have launched this insane war against Russia.

It was like, the stupidest possible idea.

Everyone was willing to go along with whatever the United States did, and let them run the world, as long as they kept the global financial system functioning. Then, all of a sudden, these Biden Administration people were like “nah – we need to force people in the Donbass to have gay anal sex with each other, and we need to use any means necessary, including totally undermining our own financial system.”