- Implied is the bypassing of the US dollar in global trade as SWIFT is based on the US dollar. America’s global hegemony is over. What is left is America’s military power to enforce hegemony. It will also be taken down. The first step will be a return to the gold standard and rejection of the dollar as world reserve currency. Once this happens, America will not be able to afford a Pentagon budget of US$700+B officially (unofficially it is believed to be above US$1 Trillion). Intense dislike/hate is building up in Europe against America. It will lead to the war of Revelation 17.
- Special EU Channel to Allow Trade with Iran, Circumvent US Sanctions is Now Operational – Statement
A special trade channel that will allow European firms to bypass American sanctions on Iran is operational – that was the outcome of the meeting between the countries who singed the nuclear deal ditched by US.
The EU called the Joint Comprehensive Plan of Action (JCPOA) a “key element of global nuclear non-proliferation.” The deal was in limbo after Washington left it a year ago and started piling up sanctions on Tehran, hampering its trade with other countries.
Now French, British and German officials say the trade mechanism, dubbed Instex, is operational. The mechanism would facilitate transactions between European and Iranian companies, bypassing the need for financial institutions like SWIFT to carry out exchanges. A payment balancing system will allow companies in Europe to buy Iranian goods, and vice-versa, without money-transfers between European and Iranian banks.
Iran has established a counterpart to Instex known as the STFI, which EU officials said will now speed up cooperation with the European trade vehicle.