Will EU Bypass SWIFT ???

In a stunning vote of "no confidence" in the US monopoly over global payment infrastructure, one month ago Germany’s foreign minister Heiko Maas called for the creation of a new payments system independent of the US that would allow Brussels to be independent in its financial operations from Washington and as a means of rescuing the nuclear deal between Iran and the west.

Writing in the German daily Handelsblatt, Maas said "Europe should not allow the US to act over our heads and at our expense. For that reason it’s essential that we strengthen European autonomy by establishing payment channels that are independent of the US, creating a European Monetary Fund and building up an independent Swift system," he wrote.

Maas said it was vital for Europe to stick with the Iran deal. "Every day the agreement continues to exist is better than the highly explosive crisis that otherwise threatens the Middle East," he said, with the unspoken message was even clearer: Europe no longer wants to be a vassal state to US monopoly over global payments, and will now aggressively pursue its own "SWIFT" network that is not subservient to Washington's every whim.

You can read the rest @
https://www.zerohedge.com/news/2018-09-25/europe-unveils-special-purpose-vehicle-bypass-swift-jeopardizing-dollars-reserve

Et tu, Brute?

First Russia and the BRICS, then Iran, and now the EU - all want to get out from under the thumb of the US. Sooner or later, this movement will gain enough momentum that it will succeed. Then where will we be?

If the two systems do not overlap, will US citizens be cut out of global commerce and finance? That would be a fine kettle of fish.