by Joseph P. Farrell, Giza Death Star:

While politics in the USA continues to suck all the oxygen out of the news room with endless discussions of “Orange Man Bad this” and “Madam Kamalarkey that”, there are actually other things going on in the world. One of these items is the following (very important) story that many of you sent me. In a nutshell, the long-awaited announcement from the BRICS group (Brazil, Russia, India, China, South Africa) has been made that they are determined to build out their own international financial clearing infrastructure independent of (and also parallel to) the SWIFT system. For those who are not familiar with it, SWIFT is the international financial clearing system, headquartered in Brussels (hmmm…) through which the overwhelming majority of all international financial transactions pass.  If one gets “sanctioned” from SWIFT, one is cut off from quick and easy financial clearing and settlement of international trade. Needless to say, the system is well under the thumb of the US dollar and its reserve currency status. The meaning of the acronym says it all: the Society for Worldwide Interbank Financial Telecommunication. SWIFT.