A Great Reset
A Great Reset
Maybe we are witnessing the Great Reset or some sort of NWO being created almost as fast as the blistering array of sanctions against Russia are enacted.
Throw in President Biden’s misspeaking on regime change and World-weary tiredness of listening to America’s hypocrisy about foreign misadventures.
Not everyone is enthusiastic about sanctions, and it would appear some are now refusing to implement them.
There are ‘Hold Outs’ among the nations of the world unwilling to join the chorus chastising Russia’s military operations against Ukraine. To name a few, they now include China, Iran, India and many of the smaller Arab states, including the UAE, which has long been known for welcoming cash without too many questions.
Dubai notably, where it’s reported that Russians love the bling of the place
Together with busy commercial flights, private jets are arriving and departing between Moscow and Dubai International airport with unusual frequency as its marinas fill with ocean-going motor yachts. Real estate brokers and car dealerships report booming business.
It’s been suggested the recent rapid ascent of BTC over the past month, trading at over 47000 as of writing, is primarily due to Russian oligarchs and mere multi-millionaires [less than $100 million] transacting with crypto to buy or lease apartments, houses and mooring spaces in the fabled desert enclave on the Persian Gulf.
Further, it’s been reported that some Western investment banks [JP Morgan & Goldman], while shuttering operations in Russia, have transferred some staff to the UAE to precisely cater for fleeing clients! And for a mere $1.5 million, permanent residency is available.
The CCP mandated the Cross Border Interbank Payment System [CIPS].
Its development began in 2012 before being inaugurated in 2015 by the Peoples Bank of China [PBOC]. Several international banks contributed, including HSBC, BNP Paribas, Standard & Chartered, Citi, Bank of East Asia and DBS Bank of Singapore.
Chinese inspired, the cross-border payment system is designed to internationalize the Chinese Yuan [RMB= Renminbi] and is being mooted by some as a replacement for Swift or at least an alternative. In 2021, it processed around 80 trillion [Yuan] RMB or the equivalent of nearly $13 trillion, with 1288 [and counting] global financial institutions in over 100 countries already connected to the system.
Its continuing development, now turbocharged by the unprecedented financial sanctions against Russia, will change the nature of global finance and could eventually render sanctions anywhere ineffective in a multipolar world. CIPS has already proven itself as effective and reliable with RMB payments, however, it would be premature to talk of CIPS overtaking Swift anytime soon.
Finally, Larry Fink, CEO of Blackrock, recently talked about the “End of Globalization”, while almost equally well-known Mark Mobius of Templeton asset management rejected the idea. Nonetheless, business activity is inevitably bound to shrink by constricting and restricting global trade and interaction. We could just as well now add a global recession coming to the mix.
Talk about unintended consequences!