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US threatens to cut off China from SWIFT

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This is a timely post as I have been thinking about block chain and financial sanctions.  It is my understanding Russia is interested in developing their own block chain and currency as the Ruble has plummeted in value due to EU and US sanctions due to Ukraine.

I wonder if the RippleNet is sanction proof?  If the answer is yes, it would be one reason for banks in certain countries to consider Ripple.

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Pushing China to a crypto system could be assisted with pressure like this. Or more likely, the Chinese are already in agreement with this, just as Modi was with rooting out the counterfeit cash (even if it was vacuumed up and moved off shore, only to be brought back into India to what it laundered legally). 

I am in the camp that says, nothing happens without a reason. If Jim Rickards is mostly right about 2018 January for SDRs / DLT and the there is a focus on Asia for conversion to crypto or regulated crypto... then this works.

North Korea could be a financial play... as I do not see them attacking else South Korea becomes a cinder.

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1 hour ago, Max Entropy said:

Pushing China to a crypto system could be assisted with pressure like this. Or more likely, the Chinese are already in agreement with this, just as Modi was with rooting out the counterfeit cash (even if it was vacuumed up and moved off shore, only to be brought back into India to what it laundered legally). 

I am in the camp that says, nothing happens without a reason. If Jim Rickards is mostly right about 2018 January for SDRs / DLT and the there is a focus on Asia for conversion to crypto or regulated crypto... then this works.

North Korea could be a financial play... as I do not see them attacking else South Korea becomes a cinder.

I just got three of Rickards' books yesterday but i'll need to advance my reading schedule now.

@Max Entropy I'm interested to hear how you think this affects the place of Ripple/XRP in the system?

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1 hour ago, Sebastian said:

I wonder if the RippleNet is sanction proof?  If the answer is yes, it would be one reason for banks in certain countries to consider Ripple.

XRP Ledger is, when it has become truly decentralized. That will only be the case when the current underdog countries are also running validators, which are included in the UNL.

Plus, that the world finally acknowledges that trade is a better instrument to achieve world piece, than the limitation of trade. Sanctions not only not work, the are harmful.

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Correct me if I'm wrong but I thought China owned 30% of the USA's debt. Doesn't that give them a **** load of power? How are the USA validating threats like this?

 

Nevertheless, to me this just means that the days of SWIFT are numbered.

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