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        China starts CIPS to point to the dollar world

        Date:15.10.29

        Reference News Network October 28, reported local media said that mainland recently launched cross-border RMB payment system (CIPS), the first batch of 19 family and foreign bank's direct participation.
        According to Hong Kong's South China Morning Post "website reported on October 25, as a cross-border RMB payment system, this is an important milestone in Beijing's ambitious process of internationalization of the RMB. It's more than just a payment transaction. It prepares for a historic currency, economic and geopolitical turning point. Decisively out of the United States led international monetary system will bring a multi polar financial power to share, but this change will certainly be accompanied by risks and conflicts.
        Reported that, at present, the RMB is the world's fourth largest trading currency, CIPS is about to replace the trading system is very troublesome, it needs a series of bank and offshore clearing and agency bank. However, CIPS is much more than that. Beijing uses it to replace the global Interbank Financial Telecommunications Association (SWIFT). To the end of the dollar and the dollar as a reserve currency monopoly is a real possibility. This result has unpredictable and dangerous geopolitical significance.
        Reported. At present, there is a suspicion that the global monetary system will be political, and its basic components may be used as a weapon of foreign policy. It has been suspected that the United States to use SWIFT as a weapon in the sanctions against Russia, which reflects the importance of SWIFT for global financial and capital flows.
        Russian Prime Minister Vladimir Medvedev in January had warned that the European Union to prohibit the use of SWIFT on the grounds of the conflict in Ukraine, Russia's proposal will lead to Russia's "unlimited" reaction, which can be seen a huge risk. Prohibition of the use of SWIFT in Russia will cripple the country's economy.
        This event further prompted Moscow and Beijing to establish their own security payment communications platform.
        In 2014, swift in a very obscure news release said: "swift and its shareholders received cut off contact with some countries and organizations, two recent is Israel and Russia...... SWIFT expressed regret at the pressure and media speculation, which could undermine SWIFT's image as a global customer service. SWIFT does not have the authority to make a decision on sanctions."
        SWIFT did not announce who made the request. This controversy is likely to be much more intense than the mainstream media described. It must have made it more dynamic in Moscow and Beijing to create a similar payment system.
        The use of the dollar and its financial processing platform as a means to launch a secret war between China and Russia have no choice but to escape from the United States as the core of the financial market system and payment system. Indeed, the creation of an independent system will end the dollar's role as a global reserve currency much faster than any other factor.
        CIPS will accelerate the process of RMB as a major currency in Global trade and investment. Although most market participants believe that this is a positive progress, but it is possible in the United States triggered uncontrollable unexpected economic crisis.

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