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COGwriter

Russia is interested in the European Union’s Instex as a way to bypass the US dominated SWIFT system for international payments:

In Major Threat To Dollar’s Reserve Status, Russia Offers To Join European SWIFT-Bypass

July 18, 2019

Three weeks after a meeting between the countries who singed the Iran nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA), which was ditched by US, French, British and German officials said the trade mechanism which was proposed last summer – designed to circumvent both SWIFT as well as US sanctions banning trade with Iran – called Instex, is now operational.

And while we await for the White House to threaten Europe with even greater tariffs unless it ends this special purpose vehicle – it already did once back in May when it warned that anyone associated with the SPV could be barred from the U.S. financial system if it goes into effect – a response from the US is now assured, because in the biggest attack on the dollar as a reserve currency to date, on Thursday, Russia signaled its willingness to join the controversial payments channel, and has called on Brussels to expand the new mechanism to cover oil exports …

… and the more isolated the US will be as a currency union meant to evade SWIFT and bypass the dollar’s reserve currency status will soon include virtually all relevant and important countries. Only China would be left outstanding; after the rest of the world’s would promptly join.

On Thursday, the Kremlin confirmed the foreign ministry’s take:

“We are tracking the information regarding this. If I’m not mistaken, there have already been statements from our side that, taking into account the first experience of using this system, when it is activated, we cannot rule out interaction in this regard,” Dmitry Peskov, Vladimir Putin’s spokesman, told reporters. https://www.zerohedge.com/news/2019-07-18/major-threat-dollars-reserve-status-russia-offers-join-european-swift-bypass

This movement to bypass the US dollar is something I have been warning about for some time.

Can this hurt the USA?

If fully implemented, yes Instex could.

This modified ‘Instrument in Support of Trade Exchanges’ (INSTEX) will provide a major alternative to the main US dollar-dominated financial systems. I call it modified, because originally the USA was involved in parts of its development.

Last month, I wrote:

Even if Europe decides against using this with Iran, it can use Instex to trade with other nations.

It provides openings for others to not use the US dollar and hence decrease wealth that the US gets from its dominance of international finance. (Thiel B. EU announces a modified Instex: The Swift end of US dollar dominance. COGwriter, June 28, 2019)

So, now Russia wants to be one of the “other nations” to use Instex.

This is on top of other Russian (see ‘SWIFT end’ as Russian banks move towards Chinese financial system? Can this hurt the USA?) and Chinese (see watch US Dollar being challenged by Gold-Petro-Yuan) moves. Notice a Chinese one:

China’s May holdings of US Treasuries dip for the third straight month to a two-year low amid trade war woes

• China’s holdings of US Treasuries including notes, bills and bonds fell by US$2.8 billion in May to US$1.11 trillion
• The dip in May was the third consecutive month of declines, leaving China’s holdings at the smallest since May 2017 07/16/19 https://www.scmp.com/business/companies/article/3018924/chinas-may-holdings-us-treasuries-dip-third-straight-month-two

Here is some information about SWIFT:

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment. SWIFT also sells software and services to financial institutions, much of it for use on the SWIFTNet network, and ISO 9362. Business Identifier Codes (BICs, previously Bank Identifier Codes) are popularly known as “SWIFT codes”.

The majority of international interbank messages use the SWIFT network. As of 2015, SWIFT linked more than 11,000 financial institutions in more than 200 countries and territories, who were exchanging an average of over 15 million messages per day (compared to an average of 2.4 million daily messages in 1995). (Society for Worldwide Interbank Financial Telecommunication. Wikipedia, retrieved 04/01/19)

Basically, most international cross-border payments seem to use SWIFT.

Because of US sanctions and threats of sanctions, and its pressure on SWIFT, many nations have been developing ways to bypass it.

Back in 1962, notice something that the old Radio Church of God published:

Modern Europe is counseling and making treaties and alliances and agreements to conquer this earth! … Germany, those living in Germany, even the German government, may not yet know that they are going to join in a treaty with the Russians to destroy the United States and bring it to its knees-it is not in his “heart” to think so, but on the other hand it IS in his “heart” to destroy-the very characteristic of the Assyrian, the modern German, is a harsh, cruel, iron, dedication to militarism and destruction! … MAN’S ONLY HOPE LIES IN TURNING TO HIS CREATOR GOD! “At what instant I shall speak concerning a nation, and concerning a kingdom. to pluck up, and to pull down, and to destroy it; If that nation, against whom I have pronounced, TURN FROM THEIR EVIL, I will repent of the evil that I thought to do unto them… Behold, I frame evil against YOU, and devise a device against YOU: return ye now EVERY ONE from his evil way and make your ways and your doings good!” (Jer. 18:7, 8, 11). The case of America and Great Britain is hopeless! The case of America and Great Britain is hopeless! (Hill DJ, God’s Destiny for Germany. Plain Truth, March 1962, pp. 28-29)

The German people are now asking themselves: “Can we rely on the Americans and British?” … These questions lead to rhe logical conclusion that maybe the only people the Germans can rely on themselves. They are now thinking: “Perhaps we can strike a better bargain with the Russians ourselves.” …

Once a German-dominated Europe is fully established, Germany will be ready to negotiate and bargain with Russia- and behind the backs of the Western Allies if necessary. …

When will a Russo-German deal be made? Here is a quotation from a circular letter issued in September, 1950 by the Nazi Geo-political Center in Madrid: “However long we may continue to milk the Americans of millions of dollars, there must come the inevitable moment when we shall have to make it crystal clear to them that we are not willing to join the fight against Russia for American interests … (Germany Plots with the Kremlin by T H. Terens, p. 15). …

Most Americans and Britons are not aware of what Germany and Europe are planning against them. This is partly due to the cunning of German. politics. …

World events are moving swiftly toward the climax when Great Britain and the United. States will be attacked, conquered and DESTROYED! (Boraker R. Are the Germans Secretly Dealing with Moscow? Plain Truth, May 1962, pp. 45-47)

Years ago, related to this, I wrote:

I, too, expect that Russia will make a deal with the Europeans. (Thiel B. Vladimir Putin’s ‘State of the Union’ speech calls for more cooperation with EAEU, EU, Asia, and Donald Trump. COGwriter, December 1, 2016)

We will see if the EU will allow Russia to use Instex–if so, this will be one of several deals they will make together.

Clearly Church of God predictions, based upon biblical prophecies, that the Europeans would take steps to rise up economically and one day overtake the USA are starting to come to pass.

While you may not think that this step is proof, consider that, at least since the days of the old Radio Church of God, Church of God writers have said to watch Europe and that it would rise up to dominate the world economically.

Furthermore consider that in 1971, the old Worldwide Church of God clearly taught that the Europeans would get their own currency:

Envision the startling future of Western Europe… A “United States of Europe” possessing one single currency – a currency so strong that it will replace the U.S. dollar as the kingpin currency of world trade. (Hogberg G. EUROPE’S COMMON MARKET RISING WORLD COLOSSUS. Plain Truth, May 1971)

The Europeans do have their own currency, and while it has not yet replaced the dollar, the time will come when the world will NOT keep the US dollar as its primary reserve currency.

Bypassing SWIFT with Instex is a step in that direction.

Of course, to replace the US dollar it will take many nations to turn away from it.

But the USA has been pushing many to do so.

Instead of accepting USA tariffs and sanction ‘punishments’ and doing nothing, various nations have been taking steps.

We made a couple of videos related to this:

Is Donald Trump pushing Europe to Russia?

A recent headline was “Is Trump Pushing Germany to Russia?” There have been comments by German and Russian leaders that they have aligned interests that Donald Trump opposes and need to take financial, military, and other steps to assist Europe. Russia and the EU (European Union) still support the Iran nuclear deal, Paris Climate accords, and the World Trade Organization, despite Donald Trump’s actions against them. Have there been comments to replace the USA’s SWIFT system by the Russians and Germans? What is Russia’s MIR payment system? What about talks for the EU to have trade and other arrangements with the EAEU (Eurasian Economic Union)? Did the old Radio Church of God foretell of the development of a Russian and German plan to eliminate the USA? Has Russia indicated that it wants Alaska back? Is the giving of USA territories to Russia by a coming European leader consistent with a prophecy in the Book of Daniel? Here is a link to our video: Is Donald Trump pushing Europe to Russia?

US President Trump’s tough talk in various areas (like trade and banking sanctions) are encouraging the EU, China, Russia, Pakistan, Iran, Turkey, North Korea, and Venezuela to take steps to protect themselves from aspects of his threats.

Dethroning the US dollar will cause massive economic problems for the USA. Much more than almost anyone believes. The standard of living in the USA has been raised/subsidized for decades because of the status of the US dollar. That status is weakening. This will ultimately severely hurt the USA.

What will happen to the economy of the USA will be much worse than what happened to the UK when the pound sterling lost its status as the world’s primary reserve currency.

We are getting closer to the great tribulation (Matthew 24:21; see also When Will the Great Tribulation Begin?) and final time of the Gentiles (Luke 21:24) that Jesus spoke of.

Gentiles are taking steps that the Anglo-American nations will one day regret.

Some items of possibly related interest may include:

The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
Iran in Prophecy Is Iran in Bible prophecy? If so, what does the Bible teach? What names, other than Persia, may be used to describe Iran? There is also a related YouTube video titled Iran In Prophecy.
Gentile Cryptocurrency Proposal Two Russian leaders have called for a BRICS-wide and/or EAEU-wide cryptocurrency. This is hoped to be used to replace the US dollar for international trade. BRICS stands for Brazil, Russia, India, China, and South Africa. The BRICS nations represent 3.6 billion people. The EAEU includes Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan. Will Gentiles rise up? Are there any prophetic ramifications of what these nations are looking to do? This is a video.
Iran in Prophecy Is Iran in Bible prophecy? If so, what does the Bible teach? What names, other than Persia, may be used to describe Iran? There is also a related YouTube video titled Iran In Prophecy.
USA in Prophecy: The Strongest Fortresses Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does. A related sermon is titled: Do these 7 prophesies point to the end of the USA?
Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin? A related sermon is also available: The Bible, the USA, and the King of the West.
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter? and British are the Covenant People. A short YouTube of prophetic interest may be: Are Chinese threats against Australia for real?
Will the Anglo-Saxon-Celtic Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves? Here is a related item in the Spanish language ¿Serán divididas las naciones anglosajonas?
British are the Covenant People What do ‘British’ and ‘Britain’ mean in Hebrew? Are the descendants of the Anglo-Saxons people of the covenant? Does the British royal family connect to the throne of David? What does the Bible teach? What does history show us? Is there any DNA evidence related to British-Israelism? When did Christianity make it to the British Isles? Could Jeremiah have made it to the British Isles? What type of Christians made it to the British Isles? Did the last King of England believe in British Israelism?
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2027 or 20xx? There is also a video titled 6000 Years: When will God’s Kingdom Come? Here is a link to the article in Spanish: ¿Tiene Dios un plan de 6,000 años?
When Will the Great Tribulation Begin? 2019, 2020, or 2021? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede comenzar la Gran Tribulación en 2018 o 2019? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon videos: The Great Tribulation from the Mount of Olives and Can the Great Tribulation begin before 2020? A shorter and newer video is: Might the Great Tribulation start in 2019?
The Times of the Gentiles Has there been more than one time of the Gentiles? Are we in it now or in the time of Anglo-America? What will the final time of the Gentiles be like? A related sermon is available and is titled: The Times of the Gentiles.
Armageddon Who is involved and when will this gathering happen? Here is also a video from Dr. Thiel, from Tel Megiddo in Israel: Armageddon. Other videos include: Armageddon Will it come on Trump’s watch?, Iraq, Armageddon, & Prophecy, Freemasonry, Armageddon, and Rome, Is China paving roads to Armageddon?, and Jordan, Petra, and Armageddon.
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation.
Must the Ten Kings of Revelation 17:12 Rule over Ten Currently Existing Nations? Some claim that these passages refer to a gathering of 10 currently existing nations together, while one group teaches that this is referring to 11 nations getting together. Is that what Revelation 17:12-13 refers to? The ramifications of misunderstanding this are enormous. A related sermon is titled Ten Kings of Revelation and the Great Tribulation.
WTO/TTIP and the Babylonian Beast Will international trade agreements like WTO/TTIP/CETA lead to the fulfillment of end time prophecies concerning the Babylonian Beast power that the Book of Revelation warns against? What does the Bible teach? A related video would be WTO Trade Deal and the Rise of the European Beast Power.
Spiritual Samaritans: Old and New Who were the Samaritans? Do the represent true Christianity or something else? Here is a link to a related sermon: USA in Prophecy: Samaria.
China, Its Biblical Past and Future, Part 1: Genesis and Chinese Characters Where did the Chinese people come from? This article provides information showing that the Chinese peoples must have known about various accounts in the Book of Genesis up until their dispersion after the Tower of Babel. Here is a link to a version of this article in Spanish: ¿Prueban los caracteres chinos la exactitud de la Biblia?
China, Its Biblical Past and Future, Part 2: The Sabbath and Some of God’s Witness in China When did Christianity first come to China? And is there early evidence that they observed the seventh day sabbath?
Asia in Prophecy What is Ahead for Asia? Who are the “Kings of the East”? What will happen to nearly all the Chinese, Russians, Indians, and others of Asia? China in prophecy, where? Who has the 200,000,000 man army related to Armageddon? A YouTube video of interest may be Is China THE Threat to the United States of America?
The Eurasian Union, the Kings of the East, and Bible Prophecy Is there a Eurasian union that will be formed? Is one being formed right now? Are any leaders working on that in the 21st century? Does the Bible teach that there will be a Eurasian union? If some type of Eurasian union is formed, who might it benefit and who will it destroy? A related video would be Is The Eurasian Union Rising?
Russia and Ukraine: Their Origins and Prophesied Future Russia in prophecy. Where do the Russians come from? What about those in the Ukraine? What is prophesied for Russia and its allies? What will they do to the Europeans that supported the Beast in the end? There is also a video sermon available: Russia in the Bible and in Prophecy and a video sermonette available: Ukraine in Prophecy?
Is Russia the King of the North? Some claim it is. But what does the Bible teach? Here is a link to a video, also titled Is Russia the King of the North?
Ezekiel 38: For Russia & Iran in Our Day? Is Ezekiel 38 about to be fulfilled? A related video is available titled Ezekiel 38: For Russia, Ukraine, & Iran Now? Another could be Russia, Iran, Syria, & the Bible (Code).
Donald Trump in Prophecy Prophecy, Donald Trump? Are there prophecies that Donald Trump may fulfill? Are there any prophecies that he has already helped fulfill? Is a Donald Trump presidency proving to be apocalyptic? Two related videos are available: Donald: ‘Trump of God’ or Apocalyptic? and Donald Trump’s Prophetic Presidency.
Trump Presidency Magic 8 Ball or Bible Prophecy? BBC reported that one might as well use a ‘Magic Eight-Ball’ to try to predict what will happen in the remaining time of Donald Trump’s presidency. What is a ‘Magic Eight-Ball’? Dr. Thiel not only explains that, but also briefly goes over 10 biblically-based warnings he wrote would happen if Donald Trump were elected that have already began to come to pass. He also goes over something he wrote back in 2008 that the Trump presidency is also helping lead to fulfillment. Should you trust Bible prophecy or not? Dr. Thiel says that Bible prophecy can be trusted, despite the view of skeptics and others that either overlook or despise the Bible. This is a video.
Donald Trump and America’s Apocalypse This 188 page book is for people truly interested in prophecies related to Donald Trump and the United States, including learning about several that have already been fulfilled and those that will be fulfilled in the future. The physical book can be purchased at Amazon for $12.99 from the following link: Donald Trump and America’s Apocalypse.
Donald Trump and America’s Apocalypse-Kindle Edition This electronic version of the 188 page print edition is available for only US$3.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Donald Trump and America’s Apocalypse-Kindle Editi

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This entry was posted on Thursday, July 18th, 2019 at 3:00 pm and is filed under Prophecy.

• BibleNewsProphecy: SWIFT end to the US dollar?
• Iran Sanctions Will Help China’s Petro-Yuan
• Russia prepared to drop SWIFT; China preparing for launch of petroyuan
• Russia and China dropping US dollar for their trade
• Russia expects to share a currency with Europe
• Brazil Wants Non-Dollar Trade With India
• EU announces a modified Instex: The Swift end of US dollar dominance
• RT: Europe to ditch US dollar in payments for Iranian oil – source
• Turkey begins assault in Syria, plus made a deal with Russia to bypass SWIFT
• BRICS surpasses G7 and says US dollar to be ditched in 2024