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New World Disorder
Russia Threatens SWIFT
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  • qet

    Maybe it’s time for the USA to re-institute tariffs. And laws against foreign ownership of US assets. Let’s see how rich China, especially, can grow without the US market as its oyster. If China and Russia want to pretend that they can build a viable parallel financial system, let them. They’ll suffer the same fate as the USFL.

  • Fat_Man

    Meaningless threat. A financial transfer network is not a technology. SWIFT was originally based on the old teletype machines and analog phone lines. I assume they have updated that. The network is important because of the nodes that it has, in the case of a financial network, banks. If regulators do not allow US and EU banks to join the Russian network, it will be useless. I wouldn’t lose sleep over this one.

  • Anthony

    On these pages recently one can infer sensibilities of jingoism (Western type) laced between rationale grounded on power balances and economic necessities – the common enemy is overseas…. “War is the health of the State.” (Randolph Bourne)

    • Jon Robbins

      “On these pages recently one can infer sensibilities of jingoism”

      You have a gift for understatement.

      • Anthony

        You’re kind Jon thanks. I try to keep audience reference in mind (also, I enjoy your prescient commentary).

        • f1b0nacc1

          Get a room guys…

          • Anthony

            Remember hedgehog thinking; end of minimal thread.

  • Jon Robbins

    By politicizing all aspects of the global financial and commercial system, WE are the ones putting it at risk. It is a measure of just how desperate we are that we are jeopardizing the basic infrastructure of the international system in our inestimably risky bid for perpetual unipolar dominance.

  • gearbox123

    “Americans and our allies have to become smarter and more serious about what we do”

    HAHAHAHA! You’re funny. Forecast of that happening: zero percent. Forecast of politicians and voters continuing to act like they do: 100%.

  • John Stephens

    Power – abuse it and lose it. Tactics only work until countertactics are developed, and the more you use a particular tactic the more incentive there is to find a counter.

  • Jacksonian_Libertarian

    Please, it’s the “American Global Trading System”, not the Russian, or Chinese. If they create another market, they will have to take customers from America, and America is going to compete. The fact is Russia and China together only make up a fraction of the “American Global Trading System”, and if they left, the market share they now enjoy would instantly be taken by their competitors. In any case no one trusts the Russians or the Chinese, not like they do America who’s Dollar they will happily compete for and accept for transactions. Nobody wants Russian or Chinese money, any more than they would want Argentinian money, it’s just too risky.

  • LoboSolo

    For those who don’t know what SWIFT means (never explaind in the writ):

    SWIFT – Society for Worldwide Interbank Financial Telecommunication – a network that enables financial institutions worldwide to send and get information about financial transactions in a secure, standardiz’d, and reliable way.

  • Dracovert

    “The task of maintaining a peaceful and liberal world order is getting harder and more complicated; this means Americans and our allies have to become smarter and more serious about what we do and how we do it.”

    We will be no smarter until we recognize that Russia, China, Venezuela, NorK, and such states are led by psychopaths. Psychopathy is the world’s worst mental disorder, and psychopathy is precisely the reason that the world remains polarized. Russia thinks they need a buffer zone, but Russia does not need a buffer zone any more than Lichtenstein does, except that Russia is psychopathic and Lichtenstein is not psychopathic. Germany was psychopathic until Germany had the psychopathy beat out of them; then Germany (and Japan) became more normal productive states and rejoined the community of nations.

    TAI belongs on a long list of American and other interests that are oblivious to the nature of psychopathy.

  • alexandra vlasceanu

    if the East disconnects from the We$t => very good. It’s what the We$t wants anyways./

  • lukelea

    I favor the West using its collective economic and financial strength to force other countries to adhere to civilized norms. To that extent I think what we are learning to do along those lines, not only with respect to Russia but also Iran and maybe North Korea (?) is a good thing. We should do the same w.r.s. to Saudi Arabia and, eventually, China.

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