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SWIFT’s Iran ban will ‘expedite global de-dollarization’

Posted By: tonzal
Date: Monday, 12-Nov-2018 20:00:44
www.rumormillnews.com

RT / BATTLE FOR WORLD - November 12, 2018: The article highlights the blacklisting of Iran from international financial messaging system SWIFT serves as a warning to Washington’s enemies, but will hasten the demise of the dollar, stockbroker-turned broadcaster Max Keiser told RT.

SWIFT, a system that facilitates cross-border payments between 11,000 financial institutions in more than 200 countries worldwide has removed several Iranian banks, including the country’s central bank, off from its services on Monday (November 12). The reason for this move is a result of US pressure and was described by the US Treasury Secretary Steven Mnuchin as “the right decision to protect the integrity of the international financial system.” (BattleForWorld: This move by SWIFT is going to speed up the push for an alternative payment system.)

And Max Keiser told RT that by the US pushing a hard line on Iran by removing it from SWIFT, the US will only force other countries to come up with alternatives, and stockpile gold to lessen their dependence on the almighty US dollar.

“The US puzzlingly seems to want to expedite global de-dollarization with its ill-advised weaponization of SWIFT,” said Keiser.

And “The impact this is having globally is clear. Russia and China are developing an alternative to SWIFT while also buying hundreds of tonnes of Gold as a means to escape the $USD chokehold. This in turn will accelerate global de-dollarization,” he added.

END


SWIFT’s Iran ban will ‘expedite global de-dollarization’




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