US Threatens To Cut Off China From SWIFT If It Violates North Korea Sanctions

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Originally appeared at ZeroHedge

In an unexpectedly strong diplomatic escalation, one day after China agreed to vote alongside the US (and Russia) during Monday’s United National Security Council vote in passing the watered down North Korea sanctions, the US warned that if China were to violate or fail to comply with the newly imposed sanctions against Kim’s regime, it could cut off Beijing’s access to both the US financial system as well as the “international dollar system.”

US Threatens To Cut Off China From SWIFT If It Violates North Korea Sanctions

Treasury Secretary Steven Mnuchin

Speaking at CNBC’s Delivering Alpha conference on Tuesday, Steven Mnuchin said that China had agreed to “historic” North Korean sanctions during Monday’s United Nations vote. “We worked very closely with the U.N.  I’m very pleased with the resolution that was just passed.  This is some of the strongest items.  We now have more tools in our toolbox, and we will continue to use them and put additional sanctions on North Korea until they stop this behavior.”

In response, Andrew Ross Sorkin countered that “we haven’t been able to move the needle on China, which seems to be the real mover on this, in terms of being able to apply the real pressure. What do you think the issue is?  What is the problem?”

The stunner was revealed in Mnuchin’s answer: “I think we have absolutely moved the needle on China.  I think what they agreed to yesterday was historic.  I’d also say I put sanctions on a major Chinese bank.  That’s the first time that’s ever been done.  And if China doesn’t follow these sanctions, we will put additional sanctions on them and prevent them from accessing the U.S. and international dollar system.  And that’s quite meaningful.”

And to underscore his point, the Treasury Secretary also said that “in North Korea, economic warfare works. I made it clear that the President was strongly considering and we sent a message that anybody that wanted to trade with North Korea, we would consider them not trading with us.  We can put on economic sanctions to stop people trading.

In other words, to force compliance with the North Korean sanctions, Mnuchin threatened Beijing with not only trade war, but also a lock out from the dollar system, i.e. SWIFT, something the US did back in 2014 and 2015 when it blocked off several Russian banks as relations between the US and Russia imploded.

Of course, whether the US would be willing to go so far as to use the nuclear option, and pull the dollar plug on its biggest trade partner, in the process immediately unleashing an economic depression domestically and globally is a different matter.  So far Washington has been reluctant to impose economic sanctions on China over concerns of possible retaliatory measures from Beijing and the potentially catastrophic consequences for the global economy. Washington runs a $350 billion annual trade deficit with Beijing, while the PBOC also holds over $1 trillion in US debt.

Ironically, the biggest hurdle to the implementation of the just passed sanctions may be the president himself.  “We think it’s just another very small step, not a big deal,” Trump told reporters at the start of a meeting with Malaysian Prime Minister Najib Razak. “I don’t know if it has any impact, but certainly it was nice to get a 15-to-nothing vote, but those sanctions are nothing compared to what ultimately will have to happen,” said Trump who has vowed not to allow North Korea to develop a nuclear ballistic missile capable of hitting the United States.

Separately, at a hearing of the House Foreign Affairs Committee on Tuesday, Republican Chairman Ed Royce said the U.S. should target major Chinese banks, including Agricultural Bank of China Ltd. and China Merchants Bank Co., for aiding Kim’s regime. Russia also came in for criticism. Assistant Treasury Secretary Marshall Billingslea said in prepared remarks to the committee that North Korean bank representatives “operate in Russia in flagrant disregard of the very resolutions adopted by Russia at the UN.”

While China and Russia supported the latest UN sanctions, officials made clear they were troubled by Haley’s comments in the Security Council that the U.S. would act alone if Kim’s regime didn’t stop testing missiles and bombs. They emphasized the world body’s resolution also emphasized the importance of resolving the crisis through negotiations. “The Chinese side will never allow conflict or war on the peninsula,” Foreign Ministry spokesman Geng Shuang said in a statement on Tuesday.

In a soundbite late on Tuesday, Japan’s Nikkei quoted prime minister Shinzo Abe who said that “in the end, [the North Korean] problems should be solved through diplomatic dialogue,” adding that Japan will “work together with the international community to apply maximum pressure, so that North Korea commits to perfect, verifiable and irreversible denuclearization.” For Japan to engage with the regime, he stressed it would have to be “on the condition that North Korea commits to” this complete denuclearization.”

Which, of course, won’t happen: “sanctions of any kind are useless and ineffective,” Russian President Vladimir Putin told reporters earlier this month at a summit in Xiamen, China. “They’ll eat grass, but they won’t abandon their [nuclear] program unless they feel secure.

Predictably, North Korea’s Foreign Ministry slammed the sanctions saying it “condemns in the strongest terms and categorically rejects” the United Nations adding more sanctions, North Korea’s state-run KCNA reported on Wednesday morning. Instead, North Korea warned it “will redouble efforts to increase its strength” as it seeks to establish “practical equilibrium” with U.S.

And so, not only is the entire geopolitical circle jerk back at square one, but the ball is again back in North Korea’s court, while the decision on whether or not to launch another ICBM really depends on whether China will give it the quiet go ahead; a China which responds notoriously poorly to being threatened in the global financial arena, like for example when the US threatens to kick it out of the global dollar system…

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  • Mateen Zaman

    Hell with the US,these hurricanes and tornadoes are a continuing warning by nature that it has decided to erase US from world map if it doesn’t leave its arrogant behavior

  • Antonovs

    Exactly like I expected, US became even more arrogant. Severely stupid move on Russia and China’s part to support those sanctions

    • Huisje tuintje boontje beesje

      For such a undiplomatic announcement, the dollar must be really under pressure!

      • AMHants

        $20 trillion national debt, they have just raised the debt ceiling, which was due to implode at the end of September. Then you have Russia and China, with virtually enough gold to back their currencies, that are bypassing the $USD and taking it down. With the printers not working, how are the US going to deal with $20 trillion, national debt? Now I wonder who is in a panic?

        United State National Debt: $19,873,207,088,044
        Interest per Year $442,541,399,266
        Interest per Second $14,033
        Debt per Citizen $61,270
        Debt as % of GDP 106.41%
        GDP $18,675,300,000,000
        Population 324,352,551

        For every $100 the US earns, they still owe $6.41

        China National Debt: $4,614,269,433,322
        Interest per Year $153,667,500,000
        Interest per Second $4,873
        Debt per Citizen $3,341
        Debt as % of GDP 42.16%
        GDP $10,945,000,000,000
        Population 1,381,000,000

        For every $100 China earns, $42.16 goes to her bills and $57.84 goes to China.

        Russia National Debt: $190,966,250,503
        Interest per Year $12,805,556,000
        Interest per Second $406
        Debt per Citizen $1,305
        Debt as % of GDP 18.96%
        GDP $1,007,000,000,000
        Population 146,300,000

        For every $100 that Russia earns, she pays $18.96 for her bills and keeps $81.04

        • John

          It´s a one way ride. :P

        • Kapricorn4

          The Chinese government has no debts, because the Bank of China is owned by the Chinese government and creates its own internal currency the yuan debt free. China is in fact the world’s biggest creditor with $2.3 trillion of foreign currency reserves.

          • Solomon Krupacek

            there is no word in any languge to disribe the stupidity of your idea….

          • Kapricorn4

            Before you criticize anyone, you should perhaps learn to spell correctly.

          • V4V

            You no doubt must be an expert on the topic. 😅

    • Hassan Ghonem

      The Chinese and Russians doesn’t want a war near to their border, where chemical & nuclear fumes will affect their cities and North Korea doesn’t seem to be a nice player for their agenda, Russia wants North Korea to end its program as Syria ended its chemical program. So, they could have the game within their rules and conditions

  • Miguel Redondo

    Well that will simply accelerate a “system change” for the Chinese and BRICS countries.

    https://www.corbettreport.com/chinas-swift-alternative-and-the-engineered-death-of-the-dollar/

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

    • You can call me Al

      I know, you could not make this up. If it was any other Country, other than the US, I would put it on suicide watch.

      I wonder if they have any idea how much damage they have done to themselves with these bizarre sanction threats.

      “Stupid is as stupid does”.

    • Solomon Krupacek

      what brics? no such organization.

      • AMHants

        You should keep up and not rely on the MSM. BRICS – Brazil, Russia, India, China and South Africa and they have just had their latest successful summit.

        ‘…Today, the BRICS countries account for 26% of the Earth’s territory, 42% of the world’s population (almost three billion people) and 27% of world GDP. According to experts’ forecasts, the share of BRICS countries will account for more than 40% of world GDP by 2050…’

        BRICS Countries Strike Fatal Blow To Deep State U.S. Dollar Currency… https://politicalvelcraft.org/2017/08/05/brics-countries-strike-fatal-blow-to-deep-state-u-s-dollar-currency/

        • John

          Thank you AMHants. I took a chance and looked at your link. The graphic there says it all. There was also some new info for me in the article. I first became aware of this trend when China initiated peer to peer trade payment resolution with some of it´s neighbors. I was unaware that it had grow so quickly, even though I knew it had expanded. My appreciation for the heads up and may your day be full of good things. I wish you well.

          • AMHants

            Thank you John and the same sentiments to you. Isn’t it strange what the MSM ignores and the fact that we are in the middle of a World War, based on economies and have no idea it is happening.

        • Solomon Krupacek

          brasil is now us-friendly country. india almost at war with china south africa is loser. some people called some countires rics. but brics as organisation never existed.

          from brics only china is something in economical field. others are dwarfs.

          • AMHants

            Is that why they have had a successful summit, still going strong and India and China were talking to each other? Plus, this year, the summit also had the ‘plus’ members. Which was seriously interesting. I wonder how many nations are hoping to come on board, or will they just align with the SCO? Now who would like to see it all come crumbling down?

          • John Brown

            Yes Racist supremacist Jews overthrew the elected Brazilian government but it won’t last. The Racist supremacist Jews austerity inflicted upon the Brazilian goyim is already ensuring that soon Brazil will be free and this time Racist supremacist Jews will have their illegal money powers taken away from them by the people.

          • Manuel Flores Escobar

            Brics are using their own currency through swaps in comercial trade between them!..no using dollar!

          • DJ Double D

            Oh how I wish that is really true. But the truth is that those swapping are just what it is – swapping their currencies. In the end, they will just exchange them back into dollars and so life goes on.

          • Michalis Kane

            Like the United States of Assassins and their 20 trillion dollars dept?

          • Turbofan

            Let me guess..S Africa is loser because the majority population in black? S Africa’s economy grows every year dumba$$.All members of BRICS are G20 members.Basically the 20 most important economies on earth.Brazil presently having a US friendly government doesn’t mean that BRICS has become any less significant. The structure is there already else other countries wouldn’t be so eager to join. China and economic union involving China is where the future is. Why do you thing countries both western and non western are so desperate to join the Asian Infrastructure Investment Bank?

            You dont really understand economic alliances and the financial world ..do you? Just trolling as usual

          • Solomon Krupacek

            south africa has big problems. and the growth is not so big.

            http://www.focus-economics.com/countries/south-africa

          • DJ Double D

            As do many other countries, Solomon.

      • Tudor Miron

        Wake up Solomosha :)

        • Solomon Krupacek

          put here their treaty document

  • Joe Doe

    If I am correct, Russia already have replacement for SWIFT and uses for about year

    • Solomon Krupacek

      you are not correct. without swift you can not move money in the world.

      • Manuel Flores Escobar

        swift is just only computer program of the banks linked to federal reserve and between them…it easy to create a new program for China and Russia! .. its the same case of US credit cards and China Union Pay credit card!

        • Solomon Krupacek

          you latino commie, befor you let out your words from mouth, think a little bit on oran. when was blocked the swift, there was no chance to make business. similar is now with syria.

          and i lived in real socialism. we had also own system. and lst the cold war with it. your and to yiu similar fools opinions about alternative ways are wrong.

      • grumpy_carpenter

        Nope …..the USA now has on the table their financial weapon of last resort and it’s a short term weapon, using it as a weapon will just accelerate the move to to blockchain based trading that is sweeping the world…..including the USA.

      • Kell

        Yeah the Russians have their own system others are rapidly joining into

      • Kapricorn4

        SWIFT is owned by a private company, not the US government. The federal reserve is also privately owned.

    • John Brown

      Yes Russia has it fully operational already, as does China, many other countries are joining rapidly as they can see the dollar collapse coming.

    • Kell

      Yeah Russia has an alternative for Swift already in operation.

  • Jesus

    China wants to dedollarize and have its yuan supersede the dollar as reserve currency, US moves are rather idiotic considering its over reliance on China for its consumer goods.

    • Solomon Krupacek

      china can want what she want. important is, what want the reat of world. and until today, 13th sept 20017 dollar is the most important currency.

      • Jesus

        The world is getting tired of US, except it’s lap dogs …..and will not continue on granting special privilege to US because of their reserve currency. The reserve currency allows US to print dollars cheaply (doing nothing) and buy products of countries that work hard to establish themselves. Print cheap paper and buy tangible goods from the world, while Wall Street schemes and finds new ways to create paper wealth.

        • Manuel Flores Escobar

          USA can print money while China dont sell its US debt bonds!

      • Manuel Flores Escobar

        i know many company in Spain which pay in Euros instead of dollar to China to import goods!…you can pay them also through China union pay credit car…so you are paying in Yuan currency!

        • Solomon Krupacek

          and? it is not forbidden, and did not affect the first place of dollar. rubel is so unimportaant currency like former french franc. renmimbi will be not more important then dollar. also the russian oligarchs save their stolen money in dollars. not in rubels or other currency. i would like to see the fall of dollar. but now and the next 2-3 decades no chance.

  • Jan Tjarks

    Swiftly to the grave with it.

    Not that the BRICS already have their own system in place anyway. If the USA are pushing it, they only isolate themselves.

    • Solomon Krupacek

      what brics? india is almast at war with china, brasil is on side of usa, south africa is dying. brics is not existing.

      • Jan Tjarks

        On the short term you are correct, almost. SCO is there too anyway, just saying. =)

        If China and India are that stupid not to find a better solution for the Bhutan question, then they are fools anyway.

      • grumpy_carpenter

        It’s isn’t the BRICS that should worry but the 6% to 8% countries will save by using blockchain based trading. Stock exchanges all over the world are moving to blockchain as banks and even some countries central banks.

        Blockchain has only been in existence since 2007 and only taken seriously by banks, stock exchanges and countries in the last year or two. It started out almost as an annoyance to finance sector as the technology behind Bitcoin type cryptocurrencies but now the financial sector has discovered the technology behind these cryptocurrencies and it’s become a tsunami that’s going to swamp SWIFT and eliminate the need for the USD, gold or any other type of benchmark trading currency.

        • Solomon Krupacek

          blockchain will never be the main form of fiscal method. read some articles about blochain pro and contra. then you understand.

          look, the former socialist system had not affected the wester system. brics has the same chance. until that point, when africa and latin america will not rise, is no chance to destroy the hegemony of western financial sytem.

          • grumpy_carpenter

            I’ve read a lot about it. The contra articles I’ve read are by defenders of the status quo that don’t know the difference between crypto currencies like bitcoin and the underlying technology which is blockchain.

            The USA / European elites will do everything to keep the status quo …. they have to so much of their wealth depends on it…. but the simple fact is in the near future if you aren’t using blockchain based ledgers you are going to be at a competitive disadvantage.

            It’s not just banking and finance either. Any industry that uses contracts and agreements will be using blockchain ledgers. Legal, project management and government records will all be using blockchain based systems.

            It’s kinda like CADD is to architecture or BIM in construction but in a much larger and deeper way affecting the jobs of bankers, lawyers and government clerks very negatively.

  • Gary Sellars

    The Muricans are so STUPID. They actually THREATEN China in a public forum to screw with their trade after China has co-operated on NK?

    Thanks Murica!!! Its arrogant belligerent actions like this from the Land of the Stupid that will solidify the Russia-Chinese strategic partnership by making it crystal clear that the US cannot be trusted, and their goodwill cannot be obtained even if you make nice with them.

    I’m loving it :-)

  • grumpy_carpenter

    This may be the shot in the foot heard ’round the world.

    Both China and Russia have been looking for a means of exchange that avoids SWIFT and the $USD. Both countries are looking at blockchain technology as the basis for their banking system and currency reforms. Even the fact that the USA is threatening to use SWIFT as a weapon will speed up this process…..they don’t have to go through with it, the threat is enough.

    Having the worlds leading manufacturing economy and the largest supplier of energy to Europe leaving SWIFT would be a major blow to $USD financial hegemony and be devastating to he USA’s ability to print their way to military dominance and out of financial difficulty in the future as they do today. To even consider this is an act of desperation….or possibly simple stupidity….on the USA’s part.

    • Solomon Krupacek

      without swift were both china and russia lost. all firms would leave immediately china, no trade with them.

      • AMHants

        No they are not, Russia knew it was coming in 2014 and so developed an alternative, which is also China friendly. More importantly, it will also be friendly with other nations sanctioned from the US. How long will it take for the US to realise that all their goodwill and embracing sanctions, only strengthens other nations and eventually will leave the US isolated..

        Also, hasn’t Russia just paid the last amount of debt, concerning the Soviet Union, to Serbia? Meaning that she has no IMF/Rothschild debt? In fact didn’t President Putin hold an official party, to celebrate banning Jacob Rothschild from Russia?

        Putin Bans Rothschild From Russia… https://nworeport.me/2016/09/22/putin-bans-rothschild-from-russia/

        28 October 2016CIPS accelerates the internationalisation of the RMB… https://www.swift.com/insights/news/cips-accelerates-the-internationalisation-of-the-rmb

        In reply to United States’s sanctions, Russia tries to reduce dependence of ‘US Dollars’… http://www.newscast-pratyaksha.com/english/united-states-sanctions-russia-reduce-dependence-dollars/

        Russia – National Payment System
        “Mir” payment system

        The Russian national payment system was created on 23 July 2014. In Spring 2015, in the course of an all-Russia creativity competition, the name Mir and the brand logo were chosen.

        The Operator of Mir Card Payment System is National Card Payment System Joint-Stock Company… http://www.nspk.com/cards-mir/

        From 2015

        China’s SWIFT Alternative and the Death of the Dollar
        China is ready to launch its SWIFT alternative in the most significant move in the unfolding process of de-dollarization yet… http://russia-insider.com/en/chinas-swift-alternative-and-engineered-death-dollar/5184

        ​China’s mega international payment system is ready, will launch this year – report… https://www.rt.com/business/239189-china-payment-system-ready/

        • Solomon Krupacek

          sure, russia can send money to china and china to russia. and thats all.

          • You haven’t read the post you are replying to.

          • zman

            He can read? I thought he just spewed memorized propaganda.

          • AMHants

            Darling, you seriously have no idea or are just paid to provide discourse, disagreement, denial, derailment or discredit the argument?

          • Solomon Krupacek

            dont say me darling, my wife sometimes sit near me. :)

            btw. my good friend tried to sell medicaments in iran. it ws legal. one and half yeear needed to build up the line, how to get money for the good. but more then 2 years did not find any firm, who was williong to transport it. then gave up.

            so, IF china would be cut from western bank system, china has finished.

          • AMHants

            Time will tell, but, think you are wrong.

      • grumpy_carpenter

        You think so? Swift is just a means of handshaking for currency exchanges between banks. Just last week China issued Yuan backed oil futures backed by gold instead of the $USD.

        There is no law that says SWIFT is mandatory in order to do international trade it is simply convenient. You can still use gold as a measure of relative value between currency. China, Russia and Germany are well on their way to reforming their banking and currency systems to blockchain technology and so are US commercial banks as well as stock exchanges all over the world.

        Trading in blockchain is faster, cheaper and more secure. Currency exchange in SWIFT costs around 10% of the value of the trade and can take up to a week to process, trading in blockchain costs you around 2% and takes 15 minutes to do the same trade.

        This move by the USA is an act of desperation. It hurts China short term but long term they’re just greasing the skids.

        • Tudor Miron

          He doesn’t “think so”, he’s just tralling

      • John Brown

        Are you that stupid? I thought you are supposed to be the racially superior, master, chosen, race? Cutting China out of SWIFT? How will the USA be able to borrow money from china to keep from going bankrupt if China is not in the SWIFT? Maybe this is the racist supremacist Jewish plan to default on the USSA debt? Does this guy secretly work for China? Is he that stupid? This would be the best thing to happen to China in last 50 years. I bet they are dreaming of it. The gold backed Yuan would replace the Jewish Federal reserve dollar as the world reserve currency almost immediately. It would legalize the Chinese seizure of the Jewish fortune 500 companies, the use to be USA fortune 500 USA companies in China, which have 95% of their production and assets in China. The US stock Market, Apple stock etc. would go to 0 in a day. Apple would become Fox Con Inc. Maybe the corrupt and incompetent racist supremacists Jews, who think they are the superior master race, who run the USA, have finally realized their empire in the USSA is about to collapse any time now, so they want China to be the one who breaks the last piece of straw on the camel’s back so to speak, on the US economy, so they, Racist supremacist Jews can blame China for the USSA collapse and pretend it is not their own fault, even though they have totally run the show in the USSA for at least the last 40 years sent all the jobs to China, put the USSA into debt etc . How is the US dollar strong??? 20 plus trillion in debt, more than 100% of GDP! If one even believes the USA GDP figures these days. Without SWIFT and the military empire the Federal Reserve Jewish dollar would have already lost its currency reserve status without which the Federal Reserve dollar is worthless. Oh and it’s the USA that is always complaining that China keeps its currency artificially to low. Who is going to buy the trillions in USA debt when China dumps it on the market??? Russia’s debt is less than 25% of GDP! http://www.usdebtclock.org

      • Manuel Flores Escobar

        keep on dreaming…

        • Solomon Krupacek

          you are the drug dealer, not me

    • AMHants

      They have already started and I have provided some links below, but, here are a couple.

      28 October 2016CIPS accelerates the internationalisation of the RMB… https://www.swift.com/insights/news/cips-accelerates-the-internationalisation-of-the-rmb

      Russia Just Shifted De-Dollarization Into 6th Gear… http://www.silverdoctors.com/headlines/world-news/russia-just-shifted-de-dollarization-into-6th-gear/

    • Manuel Flores Escobar

      USA lost when Russia and China ask for Euros instead of Dollar to sell Petrol/Gas and goods!..

      • Solomon Krupacek

        :DDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDD

  • AMHants

    ‘…Republican Chairman Ed Royce said the U.S. should target major Chinese banks, including Agricultural Bank of China Ltd. and China Merchants Bank Co., for aiding Kim’s regime…’

    That reminded me that he was behind writing the HR 1644 Bill, against Russia, China and North Korea, the pre-runner of what they have now implemented. There was a good article, over on the Saker and just who finances Ed Royce and what do his sponsors get from their $4 million plus sponsorship deals, with this Senator?

    Jimmy Carter said it right, with regards the US oligarchs?

    Jimmy Carter brands US ‘oligarchy’ & urges Trump to sign N. Korea peace treaty… eferring to the Supreme Court’s 2010 Citizens United ruling to allow corporations to give unlimited campaign donations to political candidates, which he has previously said was “the most stupid decision” the court had made… read more: https://www.rt.com/usa/403169-carter-us-oligarchy-korea/

    Now what was it the Saker found out with regards Ed Royce and his sponsorship deals?

    The US Bill H.R. 1644 to kill Russian food export and Chinese trade…

    ‘…Authors of the Bill
    Edward Randall “Ed” Royce, a member of the United States House of Representatives for California’s 39th congressional district, is listed as the main author of this bill.

    Edward R. Royce is listed by the non-government political watchdogs as the top second US representative that received pro-Israel campaign contributions – $233,943

    Total Campaign Contributions Received by Ed Royce: $4,041,553

    NORPAC is a bipartisan, multi-candidate political action committee working to strengthen the United States–Israel relationship – $114,243

    Top 10 Interests Funding

    Interest Contributions
    Real Estate $344,349
    Securities & Investment $321,400
    Insurance $261,850
    Pro-Israel $233,943
    Lawyers/Law Firms $171,975
    Health Professionals $107,185
    Commercial Banks $101,000
    Misc Finance $88,700
    Republican/Conservative $70,740
    Accountants $66,250
    Top 10 Organizations Funding

    Organization Contributions
    NORPAC $114,243
    Royce Victory Fund $35,100
    Morgan Stanley $17,500
    Mutual Pharmaceutical $15,600
    Blackstone Group $13,500
    Rida Development $13,500
    First American Financial Corporation $12,700
    Seville Classics $12,240
    Arnold and Porter $12,200
    Wells Fargo $12,000
    Contributions above are for the last two years of available data, Nov 29, 2014 – Nov 28, 2016.

    According to the MapLight disclamer, “Contributions data provided by the Center for Responsive Politics (OpenSecrets.org). Legislative data from GovTrack.us. ”

    Now why is Ed Royce so concerned with the agricultural lobbyists and their relationship to Russia and China, concerning North Korea, besides the grain exports? Who suffers from Russian GM Free Grain, being the leading exporter of Grain Supplies, internationally? How does it affect his sponsors investments and concerns?

    ‘…Republican Chairman Ed Royce said the U.S. should target major Chinese banks, including Agricultural Bank of China Ltd. and China Merchants Bank Co., for aiding Kim’s regime…’

    Russia Becomes a Grain Superpower as Wheat Exports Explode
    By Anatoly Medetsky
    7 October 2016, 00:00 BST 7 October 2016, 16:51 BST… https://www.bloomberg.com/news/articles/2016-10-06/russia-upends-world-wheat-market-with-record-harvest-exports

  • Manuel Flores Escobar

    Its bad for China…but if China ban dollar in international trade in exchange of Euros or another currency and sell masive US debt bounds…it will very bad for USA!

    • Solomon Krupacek

      .but if China ban dollar in international trade in exchange of Euros or another currency

      nothing will change in the world

      and sell masive US debt bounds…it will very bad for USA

      you know nothing. in that case rapidly decrease the price of bonds. and rotshild laughing will buy them. also other countries and private persons. they win, china lose. and china will have nothing more in hands.

      • Manuel Flores Escobar

        Dollar fall to toilette paper stupid!..because everybody want Euro currency to buy China goods!…look at what happen with dollar and Euro now!

        • Solomon Krupacek

          :DDDDDDDDDDDDDDDDDDDDD you are cock! :DDD i know, what is happening. euro is in danger.

  • zman

    This ignorant BS will worked just as well as the Russian sanctions. ‘Art of the deal’….right.

  • John Brown

    Cutting China out of SWIFT? How will the USA be able to borrow money from china to keep from going bankrupt if China is not in the SWIFT? Maybe this is the racist supremacist Jewish plan to default on the USSA debt? Does this guy secretly work for China? Is he that stupid? This would be the best thing to happen to China in last 50 years. I bet they are dreaming of it. The gold backed Yuan would replace the Jewish Federal reserve dollar as the world reserve currency almost immediately. It would legalize the Chinese seizure of the Jewish fortune 500 companies, the use to be USA fortune 500 USA companies in China, which have 95% of their production and assets in China. The US stock Market, Apple stock etc. would go to 0 in a day. Apple would become Fox Con Inc. Maybe the corrupt and incompetent racist supremacists Jews, who think they are the superior master race, who run the USA, have finally realized their empire in the USSA is about to collapse any time now, so they want China to be the one who breaks the last piece of straw on the camel’s back so to speak, on the US economy, so they, Racist supremacist Jews can blame China for the USSA collapse and pretend it is not their own fault, even though they have totally run the show in the USSA for at least the last 40 years sent all the jobs to China, put the USSA into debt etc . How is the US dollar strong??? 20 plus trillion in debt, more than 100% of GDP! If one even believes the USA GDP figures these days. Without SWIFT and the military empire the Federal Reserve Jewish dollar would have already lost its currency reserve status without which the Federal Reserve dollar is worthless. Oh and it’s the USA that is always complaining that China keeps its currency artificially to low. Who is going to buy the trillions in USA debt when China dumps it on the market??? Russia’s debt is less than 25% of GDP! http://www.usdebtclock.org

  • Евгений Тепляков

    Concerning that UnionPay holds over 50% marketshare that would be very stupid decision. Actually, that would kill the US.
    Everybody buy chinese goods, so they will just start paying in CNY instead of USD. That is especially true if we remember the fact that CNY is a reserve currency.

    • Stary Volk

      looks like you cut everything different from english. How dare you to speak about censorship in that case? Youtube,strikes, etc.
      What makes the difference?
      Everyone can translate my previous comments via google translate or baidu fanyi or whatsoever. So I suggest you to either restore my comments in Russian or shut up speaking about youtube policies.

  • Stary Volk

    It looks like you cut everything different from english. How dare you to speak about censorship in that case? Youtube,strikes, etc.
    What makes the difference?
    Everyone can translate my previous comments via google translate or baidu fanyi or whatsoever. So I suggest you to either restore my comments in Russian or shut up speaking about youtube policies.

  • Kell

    Great news I hope they do – the worlds largest producer of goods going to an alternate non slave currency system will force the rest of the world to follow – with the slave traders eventually winding up crushed – very nice :D