Putin preps to remove Russia from the world banking system.
With the world teetering on the brink of nuclear war and tensions between all the major leading countries somewhat frayed, Russia has made preparations to pull put of the world’s bank, leaving a gaping hole in the wake.
Since Putin became leader of Russia, he has made a lot of changes when it comes to looking after his own.
His belief in Russia and rejection of friendly handshakes with other countries has made him popular with Russians, but it has left the rest of the world sit a little uneasy as to what the future holds.
The world economy is still fragile from the global economic crash of 2008 and every country is still treading water to get themselves afloat.
Most of the world’s leading powers rely on each other’s economy for buoyancy in the world’s market, and one player pulling out could cause catastrophe for all the others.
But Putin has planned to do exactly this. He has put in place financial systems that will support Russia totally separately from the rest of the world.
The whole world uses the Worldwide Interbank Financial Telecommunication (SWIFT) system to financially communicate with each other, but Putin is poised and ready to pull Russia out.
Policymaker for the European Central Bank, Ewald Nowotny said that Russia pulling out of the SWIFT system would be“very problematic because it could perhaps undermine confidence in this system,”
It has also been reported that “90 percent of ATMs in Russia are ready to accept the Mir payment system, a domestic version of Visa and MasterCard.”
“Moscow and Beijing took another step towards de-dollarization with the opening of a yuan clearing bank in Russia. And earlier this month Russia’s Central Bank opened its first-ever foreign branch in Beijing to allow for better communication between Russian and Chinese financial authorities,”