In 2022, the US kicked Russia out of the SWIFT system, causing significant losses for Russian businesses and ordinary citizens. Even Switzerland’s traditionally neutral banks joined this looting. The monopoly over the financial system and global currency once gave the U.S. and EU such capability, but at the 2024 BRICS summit, Western countries permanently lost this advantage.
Previously:
Russia outlines proposal for BRICS DLT cross border payment system
Elections & Lithium Mining: Why is the US Suddenly Running ‘Get Out the Vote Ads’ in Nigeria?
Last year, US-based electric vehicle company Tesla put in a bid for a contract to mine some of that Lithium, but the Nigerian government denied them. Nigeria, like most African countries, has a history of foreign powers exploiting them for their national resources while offering little value to the people of Nigeria.
Video via Activist News Network
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Banking Committee Chair: US Regulators Should ‘Maybe’ Ban Crypto
The senator [Sherrod Brown] also pointed to numerous incidents to back up his claims, not just the recent collapse of FTX but also issues such as “the threat to national security from Korean cyber criminals to drug trafficking and human trafficking and financing of terrorism and all the things that can come out of crypto.”
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Senator Elizabeth Warren unveiled a new bill governing cryptocurrencies earlier this month, dubbed the Digital Asset Anti-Money Laundering Act.
Warren’s bill would look to force crypto asset providers to offer audited financial statements and impose bank-like capital requirements more in line with what is expected of traditional financial institutions. The act would also give the SEC increased powers to regulate the asset class.
Get ready for the Digital Dollar!
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Ms. Cat’s Chronicles 