I guess SWIFT is in the next round of sanctions. Seriously if Russia

[applegrove]

has to invent or expand their own internal SWIFT to be able to make global transfers who is going to trust a Russian financial instrument? There is so much corruption there.

(SWIFT is a huge messaging network used by financial institutions such as banks to send and receive money transfer orders or information quickly, securely, and accurately. ... The code is alternately called bank identification code (BIC), SWIFT code, SWIFT ID, or ISO 9362 code.)

[Thomas Hurt]

1. Cut Russia off from as much of the world economy as possible and see if that works.

[dalton99a]

2. Unplug Russia from SWIFT.

It is way past time

Make them carry cash in suitcases

[Leghorn21]

3. Just DO IT

[Midnight Writer]

4. Trump and Putin could start their own alternative financial network and call it GRIFT.

Paul Manafort could run it.

[okaawhatever]

6. LOL nt

K

[OAITW r.2.0]

8. ain't that the truth.

[Quakerfriend]

5. It seems unclear as to whether, or not,

this is part of the latest sanctions.
I wish they would stop tap dancing around and
just do it already!!!

[okaawhatever]

7. Russia created an alternative system in 2019. nt

[applegrove]

10. Internal. I don't think it is international.

[okaawhatever]

13. Russia is trying to make it International, but I don't know if

Any other countries have signed up. I don’t want to stop them from SWIFT because it might make their system popular. A lot of countries will need to pay Russia for oil & gas.

[dalton99a]

14. +1.

By February 2020, more than 400 Russian banks had joined SPFS, exceeding the number of Russian banks enrolled in SWIFT. The system was being used for about 20 percent of internal Russian settlements.

While twenty-three foreign organizations are contractually “included” in SPFS, only twelve currently use it. The Chinese government has not encouraged Chinese banks to join the Russian system. At the moment, the Bank of China is the sole Chinese member.

https://www.atlanticcouncil.org/blogs/ukrainealert/cutting-off-russia-from-swift-will-really-sting/

[WHITT]

9. Too Late

Putin already setup an alternative called SPFS years ago, and will likely merge with one China setup called CBIBPS, and they will then expand to Turkey, Iran, and other countries, allowing all of them to be protected.

Thereby making any threat by the U.S. moot, not to mention they can utilize any currency they want, instead of being limited to dollars by SWIFT. That especially benefits Putin, as he can use Rubles.

[applegrove]

11. Which will make it unstable.

[WHITT]

12. Why?

The currency only effects the two ends of each transaction, not the service.

[applegrove]

15. Autocracies are corrupt. And they are just going to become more so.

Someone said Putin has webbed the oligarchs so much into corruption that they all live or die together. Would you put your money in that? Putin has tried to do that corruption web in Great Britain and the US using retired politicians and current ones (Trump). The world will divide into the corrupt and the not corrupt. I don't think the ruble is as stable as US dollars. I don't think it is heading in the direction of stability.

[WHITT]

17. It's Up To The Person

on the other end what currency they will accept, which has no effect on the service.

[PortTack]

20. Agree..turkey and especially Iran. Not financially stable, or should I say financially legitimate

[Lovie777]

16. There is always a way . . ....

and Putin know that as well as China.

[PortTack]

18. Nobody even b4 this debacle wanted to deal in rubles.

[uponit7771]

19. Russia has MAX a one year rainy day fund, after that they're done financially. They have to hit ..

... and hit them hard.

Fuck em

[PortTack]

21. Pootie claims China will back them financially yet China released a statement saying Russia should

Settle this diplomatically. Doesn’t sound like China is as much on board as he is saying...or thinks. China knows they can’t screw over the US at least completely. Too much trade there.

[uponit7771]

22. China will back him but can't carry the country for more than a year when Russia's rainy day

... fund they're busting on Ukraine runs out