http://www.israelnationalnews.com/News/News.aspx/153853#.T2YQxXks2So
Belgium’s Society for Worldwide Interbank Financial Telecommunication (SWIFT), which handles most international bank transfers, has eliminated Iran from its services
JIM SINCLAIR: 'THIS IS ECONOMIC WAR'
My Dear Friends,
Major Iranian banks have been deleted from the SWIFT system. This is the means of bank wire fund transfers.
This is a major act of economic war against Iran that challenges others to consider similar tactics. It might be reasonable if Iran had not just had large allies restate their allegiance in the form of China and Russia. This would be reasonable if the West had no economic points of vulnerability.
Unfortunately the Western financial system has real weak points that are in the hands of Iran’s new most powerful allies.
The US dollar utilization as a settlement currency is waning. The US bond market has already lost its main buyers who in China’s case have been sellers.
The Swift System war card would have better been held as a threat than used.
This is going to come home, and hurt after June 2012.
Regards,
Jim
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