China’s SWIFT Alternative and the (Engineered) Death of the Dollar

 • 03/12/2015 • 8 Comments

yuandollarby James Corbett
March 11, 2015

Forget all the nonsense and hoopla about the Apple Watch or the GM stock buy-back. Far and away the most important economic story of the week is one you won’t find on the front page of Bloomberg or MarketWatch. New reports indicate that China is ready to launch its SWIFT alternative, and for those who have their ear to the ground this is the most significant move yet in the unfolding process of de-dollarization that is seeing the BRICS-led “resistance bloc” breaking away from the financial stranglehold of the US-led “Washington Consensus.”

For those who don’t know, SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication and is shorthand for the SWIFTNet Network that is used by over 10,500 financial institutions in 215 countries and territories to transmit financial transaction data around the world. SWIFT does not do any of the clearing or processing for these transactions itself, but instead sends the payment orders that are then settled by correspondent banks of the member institutions. Still, given the system’s near universality in the financial system, it means that virtually every international transaction between banking institutions goes through the SWIFT network.

This is why de-listing from the SWIFT network remains one of the primary financial weapons wielded by the US and its allies in their increasingly important financial warfare campaigns. In 2012, SWIFT agreed to de-list 30 Iranian financial institutions (including the central bank) from their network as part of the US/EU-led sanctions on Tehran, a move that was meant to stop billions of dollars’ worth of oil and export sales from being repatriated into the country and bring Iranian business to a standstill. Throughout the recent tensions between the US bloc and Russia over the civil war in Ukraine, the idea that SWIFT could similarly de-list Russian banks has beenrepeatedly floated as a potential next step for the US and its allies.

swiftiranOf course, SWIFT is nominally “independent” from any government entity and thus does not have to follow the dictates of Washington or anyone else pursuing their own personal vendettas in the financial arena. In practice, however, SWIFT put up no resistance whatsoever and obligingly complied with the Iranian sanctions request despite the fact that the blockade was repeatedly ruled illegal by the EU’s own courts. Does anyone doubt that, despite their protestations to the contrary, they would do any different if push came to shove with Russia? This is precisely why Moscow, Beijing and other countries in the cross hairs have been floating ideas of their own, namely the creation of an alternative payment network that bypasses SWIFT.

Now it seems that talk is materializing into something very real. Called the China International Payment System, the CIPS network is meant to facilitate cross-border transactions specifically in yuan and the latest reports suggest that the system is already in place and could be launched as early as this September.

If and when CIPS is launched, the results could be world historical in nature. Firstly it provides the Kremlin and other US/EU/NATO/Israeli enemies a potential alternative safe haven from the crippling sanctions that hang over their head in the current environment. Secondly, it brings the yuan one step closer to being a fully-convertible currency, something that Beijing has beenscrambling to achieve since the currency was rejected from the IMF’s SDR basket following the last reconsideration of that basket in 2010. And finally, it further solidifies China as the center of the worldwide “resistance bloc” to the current status quo.

It’s hard to underestimate just how important CIPS will be to making the yuan a major player on the global stage. Rather than having to clear yuan payments through correspondent banks in China or through specially designated clearing houses in Hong Kong or Europe or elsewhere, payments will now be nearly instantaneous through any CIPS-listed financial institution anywhere in the world.

Sadly, most alternative news outlets will end their analysis here, as if the creation of this alternate payment system in opposition to the US/EU/NATO/Israeli superpower’s hegemon is an unmitigated good. But such an analysis relies on the assumption that the BRICS resistance bloc has motivations and intentions that are truly different than the existing power structure, and not merely rivalrous to it. As viewers of The Corbett Report’s podcast on “China and the New World Order” will note, China has been carefully positioned over the course of the past half century to be the “engine of the New World Order” and many of the (nominally) “American” oligarchs and political power-players who helped construct the current status quo have been pupeteering and overseeing the rise of the Chinese dragon since the days of Mao. And as we have discussed before, the players who have been dominating world finance for decades (if not centuries) are not stupid; they are deliberately engineering the West’s downfall in order to bring about their dreamed-of world governmental and world financial system.

Is THIS really the answer we're looking for?

Now those who are concerned about the US-bloc’s superpower status and its seemingly monolithic control over the highly-centralized financial system represented by institutions like SWIFT are being asked to put their faith in an “alternative” system of centralized control that happens to be in the hands of Beijing. But let’s imagine that, somehow, in some way, the Chinese Communists were actually artfully deluding the Kissingers and the Brzezinskis and the other paymasters and chessmasters of China’s economic “miracle” and actually did intend to use their new-found power for themselves. To what end would they possibly use it? As a series of billboards popping up around Bangkok and other locations in recent months suggest, it is nothing less than to create a “New World Currency” to further consolidate their power on the international stage. Meet the New New World Order, same as the Old New World Order. Either way, all you get is centralized power-hungry tyrants lording over centralized bureaucracies like the IMF, the World Bank, the SDR, SWIFT, CIPS, the BRICS bank or the “people’s currency” of the yuan.

But what if there was a truly alternative way around the SWIFT hegemon?

As it turns out, many Iranian banks have circumvented the SWIFT sanction in an almostembarrassingly simple way. Instead of using the SWIFT system to send and receive their payment orders, they simply pick up the phone or send an email. Yes, it is less efficient and takes a bit longer to do, but it works just as well and there’s nothing that SWIFT or anyone else can do to prevent banks from communicating directly with one another. Chalk this extremely simple workaround up as another victory for the concept of the “peer-to-peer economy” that we talked about in these pages in recent weeks. When people (or organizations or institutions) can communicate directly, instantaneously and globally, the need for centralized bureaucracies like “SWIFT” or “CIPS” disappears just as assuredly as the horse-and-buggy or the zeppelin disappeared with the advent of the modern car or airplane.

Keep your eye on these pages for more on the CIPS system as it develops, and keep your eye on The Corbett Report podcast for an upcoming episode where I delve into the not-so-happy reality of “The BRICS and the New World Order.”

China International Payments System

From Wikipedia, the free encyclopedia
Cross-border Interbank Payment System
Industry Telecommunications
Founded 2015 (expected)
Headquarters BeijingChina
Products Financial Telecommunication

The Cross-border Interbank Payment System (CIPS) is a planned alternative payments system to SWIFT which would provide a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment. [1]

CIPS would not facilitate funds transfer; rather, it sends payment orders, which must be settled by correspondent accounts that the institutions have with each other. Each financial institution, to exchange banking transactions, must have a banking relationship by either being a bank or affiliating itself with one (or more) so as to enjoy those particular business features.

However, it was reported in July 2015 that CIPS would be ‘”watered down” and used only for cross-border yuan trade deals rather than including capital-related transactions, which would delay billions of dollars worth of transactions, including securities purchases and foreign direct investment, that would have gone through the system. It was reported to be a second setback to the plan to provide a unified network for settling deals in yuan after technical problems delayed its launch, and that other measures to open up China’s financial infrastructure have been dented by the 2015 Chinese stock market crash. It was said to now offer, at best, a complementary network for settling trade-related deals in the Chinese currency to a current patchwork of Chinese clearing banks around the world.[2]


CIPS is expected to use the SWIFT industry standard for syntax in financial messages. Messages formatted to SWIFT standards can be read by, and processed by, many well-known financial processing systems, whether or not the message traveled over the SWIFT network. SWIFT cooperates with international organizations for defining standards for message format and content. CIPS would conceivably also subscribe to Registration authority (RA) for the following ISO standards: [3]

  • ISO 9362: 1994 Banking—Banking telecommunication messages—Bank identifier codes
  • ISO 10383: 2003 Securities and related financial instruments—Codes for exchanges and market identification (MIC)
  • ISO 13616: 2003 IBAN Registry
  • ISO 15022: 1999 Securities—Scheme for messages (Data Field Dictionary) (replaces ISO 7775)
  • ISO 20022-1: 2004 and ISO 20022-2:2007 Financial services—UNIversal Financial Industry message scheme

In RFC 3615 urn:swift: was defined as Uniform Resource Names (URNs) for SWIFT FIN.[4]

See also[edit]


Swift was keen to point out that the newly-launched China International Payment System (Cips) is not a competitor. Prior to the launch of the Chinese payments infrastructure, details of the system were scarce. On Tuesday at Sibos, Philippe Dirckx, managing director, head of markets and initiatives, Asia Pacific, at Swift said he wanted to clear up the idea that Cips was a competitor to Swift.

Speaking in the Developing your transaction business with China session, he said: “Cips is a payment system, we are a message provider.” He added that Swift has been engaging with the People’s Bank of China and advising it on the internationalisation and opening up of the system to the outside world.

Referring to media reports that Cips would compete with Swift, he suggested this was because they had been relying on Wikipedia’s description of Cips, which opens that Cips  “is a planned alternative payments system to Swift, which would provide a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardised and reliable environment”. The Wikipedia paragraph cites a Reuters story from March 2015 as its source.

The Chinese payments infrastructure removes the need for cross-border payment messages to be translated into Chinese once they reach mainland China. Cips will use the ISO 20022 structured format and will support both Chinese and English. Dirckx said Cips would use the Swift bank identifier code.

China Completes SWIFT Alternative, May Launch “De-Dollarization Axis” As Soon As September

Tyler Durden's picture


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 international monetary transactions when Moscow is disconnected from the EU-based global currency messaging and interchange service known as SWIFT (a move, incidentally, which SWIFT lamented as was revealed in October when we reported that it announces it “regrets the pressure” to disconnect Russia).

Of course, in the aftermath of revelations that back in 2013, none other than the NSA was exposed for secretly ‘monitoring’ the SWIFT payments flows, one could wonder if being kicked out of SWIFT is a curse or a blessing, however Russia did not need any further warnings and as we reported less than a month ago, Russia launched its own ‘SWIFT’-alternative, linking 91 credit institutions initially. This in turn suggested that de-dollarization is considerably further along than many had expected, which coupled with Russia’s record dumping of TSYs, demonstrated just how seriously Putin is taking the threat to be isolated from the western payment system. It was only logical that he would come up with his own.

There were two clear implications from this use of money as a means of waging covert war: i) unless someone else followed Russia out of SWIFT, its action, while notable and valiant, would be pointless – after all, if everyone else is still using SWIFT by default, then anything Russia implements for processing foreign payments is irrelevant and ii) if indeed the Russian example of exiting a western-mediated payment system was successful and copied, it would accelerate the demise of the Dollar’s status as reserve currency, which is thus by default since there are no alternatives. Provide alternatives, and the entire reserve system begins to crack.

Today, we got proof that it is the second outcome that is about to prevail following a Reuters reportthat China’s international payment system, known simply enough as China International Payment System (CIPS), which serves to process cross-border yuan transactions is ready, and may be launched as early as September or October.

According to Reuters, the launch of the will remove one of the biggest hurdles to internationalizing the yuan and should greatly increase global usage of the Chinese currency by cutting transaction costs and processing times.

It will also put the yuan on a more even footing with other major global currencies like the U.S. dollar, as CIPS is expected to use the same messaging format as other international payment systems, making transactions smoother.


CIPS, which would be a worldwide payments superhighway for the yuan, will replace a patchwork of existing networks that make processing renminbi payments a more cumbersome process.

In other words, while the west was using every provocation involving the Ukraine civil war as an opportunity to pressure Russia into developing its own cross-border payment system, it achieved not only just that but it also pushed China to accelerate the roll out of its own international payment system, in the process telegraphing to the world that the USD is replacable as a reserve currency and giving any other nations (such as the BRICs) the green light to think of SWIFT as an alternative to either the Russian or Chinese payment system (which with enough political and financial stimulus, they would be delighted to do).

But what is most disturbing is just how quickly the Chinese regime change is coming:

“If it’s all smooth, (the launch) will be in September or October. If there is a need for a bit more time, we are still confident about (rolling it out) before the year-end,” said the source, who declined to be named because he is not authorized to speak to the media.


The system was expected to be launched in 2014 but was delayed by technical problems, with most market participants anticipating it would not come on stream before 2016.

Needless to say, China will be delighted to have its own unified payment system, one that will further internationalize the Renminbi which at least check had become one of the top five payment currencies in November 2014, overtaking both the Canadian and the Australian dollar based on SWIFT data.

Until now, cross-border yuan clearing has to be done either through one of the offshore yuan clearing banks in the likes of Hong Kong, Singapore and London, or else with the help of a correspondent bank in mainland China.

“Misunderstandings under the current clearing system happen from time-to-time due to different languages and codings. The CIPS is a breakthrough since it will offer a united platform and enhance efficiency,” said Raymond Yeung, an analyst at ANZ in Hong Kong.


The launch of CIPS will enable companies outside China to clear yuan transactions with their Chinese counterparts directly, reducing the number of stages a payment has to go through.

It will also make it far more difficult for the NSA to track payments to and from the mainland when such compromised intermediaries as SWIFT are used.

This is how the Mercator Institute for China Studies previewed this major development:

The Chinese government is striving towards a controlled internationalization of China’s currency through a step-by-step expansion of the use of the RMB in Chinese foreign trade and investment. Towards this end, a worldwide network of agreements dealing with central bank currency swaps, the direct exchange of the RMB with other currencies, and RMB clearing hubs has been built. The establishment of an independent payment system (CIPS) for RMB transactions and an alternative to the existing SWIFT would further increase China’s autonomy vis-à-vis U.S. centred financial market structures.


Finally, as it becomes easier to transact in non-USD terms, it will merely accelerate the adoption of the Chinese Yuan as the primary currency of global trade, or what little is left of it, as opposed to the currency of financial engineering.

Global yuan payments increased by 20.3 percent in value in December compared to a year earlier, while the growth for payments across all currencies was 14.9 percent for the same period, SWIFT said.


China has accelerated the pace of yuan internationalization in recent years. The central bank assigned 10 official yuan clearing banks last year, bringing the total number to 14 globally that can clear yuan transactions with China.

The final observation to make here is that if indeed it was the Obama administration’s brilliant ploy to kick out Russia – and by geopolitical affiliation, China – out of a monetary transaction mechanism that is controlled and supervised by the US and force the two biggest challengers to US global dominance into their own (or joint) payment system, then well, congratulations: it succeeded.

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Dear Brothers and Sisters, I wanted to Congratulate Business Man Andy Frankel in still believing

in our Island.

So lets go, and do some shopping in supporting this NEW store, and congratulate him on this new

Business Venture and product.


Ronald Wederfoort

5999 – 5156118

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Subject: Polo Colours

Price:125,-Ang / 70,-$

Ronald, the Polo Shirt with 21 Colours as promised.

Contact Person in Charge of Sales requests:

Disciple Mr. Arlone Meulens

Rainbow Clothing Division

—-Forwarded message—-


Sent: Tue, Oct 27, 2015 4:20 PM PDT

Subject: Polo Colours

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Dear Brothers and Sisters of Curacao and the WORLD.

Today i wanted to share my findings and Give some advice what i have found out.

Again I am not BLAMING or JUDGING no one, is for us to learn from our mistakes.

We all are here to help each other and to expose the real TRUTH.

Ok lets start with what i have found out, a few weeks ago Our Bridge has gone threw a

Mayor refurbish Project to provide it with a new Flooring.

I have take a peace of the WOOD which has been used on the FLOOR of the BRIDGE,

which i had found, and the Question came to my mind is this wood which they are

using the good one?

NICE QUESTION, i waited till the Bridge was back, and made some Pictures of the

WOOD which they have used, and what i have found out is that its SPLITTING all over

the place. From every 5 Planks, 2 are splits where the SCREWS are drilled in.

Here some Pictures,

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Sheldan Nidle – November 17, 2015~ We are as well preparing the steps required to bring disclosure Monies are in place and special military and police units are ready to strike a swift and final blow. Humanity has had the privilege of men like Tesla to encourage the start of this new age!

humanity opens up
Sheldan Nidle – November 17, 2015

9 Imix, 14 Xul, 12 Manik

Selamat Balik! The message remains positive! Your new reality is slowly manifesting. Those who rule the dark on this globe are truly in a state of extreme worry as the things they helped to create are fading into the dustbins of history. While these denizens of the dark realm slowly see that their time has come, they nevertheless remain defiant. Across this globe, there are actions of quiet desperation happening. These so-called terrorist attacks and telecommunications tie-ups are just part of the degree of desperation that is currently permeating the dark oligarchs. Like many other operations, these are as well to fail. The Light in its numerous parts holds the upper hand and these brave ones are succeeding in readying the means to spread prosperity, reveal a new monetary and financial system as well as create new governance for all. We are as well preparing the steps required to bring disclosure to a decades old official cover-up. This process is to bring you a whole slew of presently well-hidden technologies. Humanity has had the privilege of men like Tesla to encourage the start of this new age!

This time is one in which the Light forces have returned in strength and in guile. The strategy employed by the Light’s proponents has brought the dark oligarchs to their knees. Their imminent defeat and the agreements that go along with it has caused them to strike out and hope for the deep emotions that can somehow turn their plight around. As the horror of their acts fade so does the chance that their dark and dastardly deeds can ever succeed.Instead, the world is realizing why these dark deeds and Internet manipulations took place and is seeking quick remedies for the dark’s actions. Those who support the Light are now proposing how to quicken their demise. Monies are in place and special military and police units are ready to strike a swift and final blow. Thus, the dark’s panic is quite real. We are close to events that have the potential to achieve what has been our grand goal from the beginning. That is, your return to full consciousness and the rise of your freedom and endless prosperity!

Currently, what was delayed by the dark is quickly moving forward.Telecommunications and various courier groups are busy making sure that the funds are delivered and are, in fact quite secure. We are also making sure that a whole host of new technologies are ready when the new governance occurs. It is vital that both the transfers of power and mass arrests happen in an easy manner. At present, many of the upper levels of the oligarchs find themselves under house arrest. Certain precautions have been taken to ensure that this operation remains on schedule. We have used some of our personnel to further secure this situation. The odd maneuver still permitted on your globe requires more detailed watching by us. Initially, those involved in security and intelligence assured us that the odd maneuver was to be held in check. Instead, a large operation was allowed to happen. We need to bolster our abilities in these areas.

We have a final word for all. We ask for a rise in your focus on peace and freedom. Together, we can ensure that the last steps in what has been a long march to freedom finally reaches its grand goal. At present, there are a number of activities being completed. You are very close to a start of funds going out to you. Maintain your focus! All of us are extremely dedicated to seeing these first stages completed. Our liaison and diplomatic corps can attest to the large amount of progress that has been made in the last few months. We know that this operation is huge in scope and that it is a most complex proposition. Yet, we are indeed going to achieve a full success in all areas. The scheduling of all of this remains secret. Despite this, we can readily say that this progress has moved beyond anything seen before. Its success is imminent. A truly wonderful day for all participants is about to occur! Take these funds and use them to forge a new and much kinder reality!


Blessings! We are your Ascended Masters! We are in joy and in pain and sorrow as well. Recently, the dark staged a mass set of murders. These unnecessary disturbances on this sacred orb are just one of many such acts staged infrequently by the dark to demonstrate its cowardice and pure intolerance of all life on Gaia. We ask that you bless the souls of the departed and use forgiveness in all matters of the heart. Our divine objective is to use our global intent to ask for these vile acts to disappear from this beautiful blue orb. Remember how life is in this realm and use your positive energies to soothe the suffering and wish eternal Love upon all concerned. This realm is very soon to be altered for the better. Do not let this or other incidents take away your focus! Instead, intensify your focus and use it to heal this realm. This is the moment when all of suffering is to be transformed into peace and Love!

As this moment recedes, let us remember how this world is transforming. We refuse to bow any more to the subtle machinations of the dark oligarchs. A great wave of higher consciousness is descending on this world. This realm is learning how to alter its emotions and to let the ways of the healing heart rule. It is important to think, envision and believe in the vast amounts of Love and Light. If you refuse to act on your lower emotions and use Love to understand, a wonderful state of quiet peace envelops you. It is this new energy that we are cultivating. One of the most beautiful talents of humanity is to rediscover the power of mercy and the instrument that is divine grace.With this in hand, you are ready to learn elements that this new rising consciousness can give you. Hence be ready to use the new insights that come from this. Hosanna! Hosanna!

In this time as we have continually said, be wise, be forgiving, and be able to spread your healing heart energies. Divine mercy entails looking at the whole of what occurs. Judge not! Only see the whole. When you take this in, send out Love and healing to all. You are in reality a vessel of Love and Light. You deeply understand what is encompassed in each event that makes up your life and these times. Look for final answers to Heaven and to your guides. You are learning now what took us many lifetimes and a special set of instructions from the inner councils of our divine order. Much more is to happen. Let the positive sink in and grow stronger in this great Light. You are all great beings having a special human spiritual experience. This time is a moment to show us your truths!

Today, we continued our weekly messages. Take this time to pray and meditate on your inner perceptions and the new growing consciousness.Forgive and bless all. Then, take time to pray for the Souls of the departed. Be ready! A new time is upon you. Love and Light are truly victorious! Know, dear Ones, that the countless Supply and never-ending Prosperity of Heaven are indeed yours! So Be It! Selamat Gajun! Selamat Ja! (Sirian for Be One! and Be in Joy!)
Website: Planetary Activation Organization

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Higher Consciousness: The Masses Can No Longer Be Fooled

Originally posted on Wes Annac's Personal Blog:

The following is an intuitive writing from what I call ‘higher consciousness’, which is also known as the higher self. I channeled it for the one hundred and seventy-third issue of The Culture of Awareness Weekly Newsletter, which I offer for $11.11 a month.

Income from the newsletter helps me get by and continue to offer free material each day, and we could use subscribers right now. Every subscription is needed and appreciated! The option to subscribe can be found at the bottom of this post.

Habits and addictions stem mainly from a loss of connection with one’s higher consciousness, and rekindling one’s authentic spirituality can pave the way for recovery and an enhanced sense of spirituality that gives life a greater purpose and meaning.

If you’re reading this, then you likely consider yourself a spiritual seeker and one of the main reasons people seek spirituality is because they’re searching…

View original 1,245 more words

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Swarovski Presents Its Piece Of Art The Crystal Myriad Mor-Malhar Peacock In Curaçao

Swarovski Presents Its Piece Of Art The Crystal Myriad Mor-Malhar Peacock In Curaçao

Mor MalharWILLEMSTAD – Last weekend was very special for the Swarovski collectors in Curaçao. The  Swarovski Boutique @ Punda presented, in a unique way, the piece of art Crystal Myriad Mor-Malhar Peacock.

This exclusive masterpiece captures the true beauty of Swarovski stands for. Representing pride and elegance, the peacock is adorned with more than 56,000 handset crystals in a rainbow of colors. The bird sits gracefully on branch crafted in stainless steel with PVD coating, which is decorated with a flower in crystal Pointiage.

Only 300 of this limited edition has been made worldwide. This is one of the reasons why this piece is so unique.

CIMG3080SWAROVSKI area manager, Mrs. Lotty Wolfe unveiled this beautiful piece outside  the boutique in Punda during the cocktail party.

Curaçao Chronicle spoke with Mrs. Wolfe who said that Curaçao is the first one that received this piece. “The reason is because of the great collaboration that exist between the owners of the boutique and Swarovski and of course we saw the opportunity to bring this beautiful piece to this market. That is why we started with Curaçao.”

“This is actually the first time that Swarovski is taking this limited edition piece and bringing it from market to market as a sample for the customers to see. The Crystal Myriad collection is  very exclusive and we thought it could be a great opportunity to bring it to the markets that have potential collectors and people that could be interested in such pieces. It turns out that Curaçao is one of them. We made it happen.”

CIMG3069“From here we will be going to Mexico, Guatemala. The idea is to bring the piece from market to market to show them the uniqueness of the piece and why it is so exclusive.”

The piece is now at Swarovski Boutique @ 40 Breedestraat, PUNDA for everyone to see and admire with their own eyes.

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