China’s SWIFT System Ready To Launch By October

Peter's Commentary China has just completed its alternative to the SWIFT system for international payments. It will be ready to launch this in September or October this year. From ZeroHedge, Tyler Durden, March 9, 2015 One of the recurring threats used by the western nations in their cold (and increasingly more hot) war with Russia, is that Putin's regime may be locked out of all … [Read more...]

Russia Launches New “Swift” System

Peter's Commentary: About 18 months ago, Europe and America threatened that they would stop Russia from using the SWIFT system. The SWIFT system is used to send money between financial institutions and is critical for countries to be able to trade with each other. Due to these threats, Russia has developed its own system. This system has just been activated. From Sputnik … [Read more...]

Russian Banks Test New Payment System

Peter's Commentary Russia is testing a new payment system that will replace the International Swift system currently used for all international monetary transfers. This new system will stop Russia's reliance on a western system and having sanctions imposed. From RT.com, December 8, 2014: Russia‚Äôs Rossiya and SMP banks, which fell under Western sanctions, are among the eight lenders … [Read more...]