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  1. #3151
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by OhOh View Post
    Abused by some.
    I think you mean "improperly implemented by some".

    Unless you wish to clarify.

  2. #3152
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by sabang View Post
    Duplicate or replace SWIFT. The latter is unlikely, given US hegemony over it. So duplicate- possibly based on far more efficient (and cheaper) Blockchain technology.
    The US don't own SWIFT you barking imbecile.

    Besides which, chinky lovers and russophiles can always use CIPS or SPFS.

  3. #3153
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    Quote Originally Posted by harrybarracuda View Post
    The US don't own SWIFT you barking imbecile.
    They only serve the world.
    Always wondering why e.g. payments of European, Indian, Australian - you name it - come to Thai banks over Wells Fargo...

  4. #3154
    Thailand Expat lom's Avatar
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    Quote Originally Posted by Klondyke View Post
    Always wondering why e.g. payments of European, Indian, Australian - you name it - come to Thai banks over Wells Fargo...
    Mine doesn't, has never done. Comes every month over SWIFT.

  5. #3155
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by lom View Post
    Mine doesn't, has never done. Comes every month over SWIFT.
    SWIFT don't do money transfers. They facilitate them.

    It's coming from a bank, directly or indirectly.

    But klondyke doesn't really understand it.

    Banks, like phone companies, can choose their international partners.

  6. #3156
    Hansum Man! panama hat's Avatar
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    Quote Originally Posted by Klondyke View Post
    They only serve the world.
    Always wondering why e.g. payments of European, Indian, Australian - you name it - come to Thai banks over Wells Fargo...
    Keep wondering Slav-man as it's all in your head

  7. #3157
    Thailand Expat
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    What a luck we have here a übermensch who tells us who we are and a bit more...

  8. #3158
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    Quote Originally Posted by harrybarracuda View Post
    SWIFT don't do money transfers
    Swift is the mechanism of moving funds from one bank to another as such swift transfers the money from one source to a destination.

    A "secure" messaging/insurance system, that is all.

    Quote Originally Posted by harrybarracuda View Post
    SWIFT don't do money transfers. They facilitate them.
    "Our solutions seek to address challenges faced by the SWIFT community, to reduce risks, eliminate costs and to realise efficiencies in the processes supporting correspondent or transaction banking."

    Allegedly foolproof, but not 100%.

    All information available here:

    Products and Services | SWIFT - The global provider of secure financial messaging services

    Quote Originally Posted by harrybarracuda View Post
    The US don't own SWIFT
    One presumes you have a copy of or a link to the company's, “Society for Worldwide Interbank Financial Telecommunication”, shareholders to share with us here on TD.

    Which indicates who does own it/is the majority share holder, to support your statement?
    A tray full of GOLD is not worth a moment in time.

  9. #3159
    Lone Monarchist
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    The US economy is the biggest monetary distortion in history. And this is the kinds of results it gets


  10. #3160
    Hansum Man! panama hat's Avatar
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    Quote Originally Posted by Klondyke View Post
    What a luck we have here a übermensch who tells us who we are and a bit more...
    It's 'Übermensch', do get it right.

  11. #3161
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    Quote Originally Posted by panama hat View Post
    It's 'Übermensch', do get it right.
    Not in your case, it's with small ü

  12. #3162
    Hansum Man! panama hat's Avatar
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    Quote Originally Posted by Klondyke View Post
    Not in your case, it's with small ü
    You sound even more ridiculous when you're trying to be serious

  13. #3163
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by OhOh View Post
    Swift is the mechanism of moving funds from one bank to another as such swift transfers the money from one source to a destination.
    No it doesn't.

    Your own links even point that out.

  14. #3164
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    ^Anyway, whatever the SWIFT is for - and belongs who to - it's very kind from them that they help with the money transfer, that it does not need to go from the paying bank straight to the receiving bank. The receivers, waiting so long for the payment they deserved, can wait a bit longer.

    And the receiving bank has an excuse: "Sorry we do not know where it is hanging..." (The Thai banks they like it...)

  15. #3165
    Chinese spy
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    June 2006 this thread was started. How things change.

  16. #3166
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by sabang View Post
    June 2006 this thread was started. How things change.
    2008 had a lot to do with it I think.

  17. #3167
    Chinese spy
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    2020 too

    China's economy in 2021 will be 10% bigger than it was in 2019 and every other major economy will be smaller: economist

    Andrea Shalal and Gabriel CrossleyThu, October 22, 2020, 7:36 AM GMT+10:30·5 mins read







    By Andrea Shalal and Gabriel Crossley
    WASHINGTON (Reuters) - The United States and China dealt with the spread of the devastating coronavirus pandemic in vastly different ways, and that split is reshaping the global battle between the world's two leading economies.
    About 11 months after the Wuhan outbreak, China's official GDP numbers this week show not only that the economy is growing, up 4.9% for the third quarter from a year earlier, but also that the Chinese are confident enough the virus has been vanquished to go shopping, dine and spend with gusto.
    China's total reported death toll is below 5,000 and new infections are negligible, the result of draconian lockdowns, millions of tests, and strict contact tracing that set the stage for an economic rebound.
    "China's success in containing the virus has allowed its economy to rebound more quickly, and with relatively less policy support, as compared with other large economies," said former senior U.S. Treasury official Stephanie Segal, a senior fellow at the U.S.-based Center for Strategic and International Studies.



    ..... "Obviously the U.S. government bungled it," said Harry Broadman, a former senior U.S. trade official and managing director with Berkeley Research Group. The singular authority of China's Communist Party helped Beijing enforce contact tracing and lockdowns, Broadman said. Other democracies, including New Zealand and South Korea, stamped out the virus as China did.
    China's economy in 2021 will be 10% bigger than it was in 2019 and every other major economy will be smaller: economist

  18. #3168
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    Quote Originally Posted by sabang View Post
    China's economy in 2021 will be 10% bigger than it was in 2019 and every other major economy will be smaller: economist
    Europe ?

    US ?

  19. #3169
    Chinese spy
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    According to the article, yes.

  20. #3170
    Hansum Man! panama hat's Avatar
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    Quote Originally Posted by Klondyke View Post
    ^Anyway, whatever the SWIFT is for - and belongs who to
    First you argue hell and high water as to who 'owns' it and uses it for US-dominance then you argue hell and high water about what it does and now . . . 'Anyway, whatever ....' Why do you constantly talk shit, like Skidmark, and when proven wrong just hop onto the next issue rattling around in your little brain?

  21. #3171
    Thailand Expat
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    Quote Originally Posted by panama hat View Post
    as to who 'owns' it
    Quote Originally Posted by panama hat View Post
    when proven wrong
    Care to identify where your "proof" is posted here on TD?

  22. #3172
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by OhOh View Post
    Care to identify where your "proof" is posted here on TD?
    Swift does not publicise its shareholders. However, it does state that shares are allocated based on the number of transactions.

    SWIFT has two data centres in Europe and one in the US. Given that data centres are usually at the hub of network traffic, I'll let you do the maths.

  23. #3173
    Hansum Man! panama hat's Avatar
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    Quote Originally Posted by harrybarracuda View Post
    I'll let you do the maths.
    OhOh's calculation would be Guantanamo Bay US KapitalImperperialistPigDog

  24. #3174
    Thailand Expat
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    Quote Originally Posted by harrybarracuda View Post
    However, it does state that shares are allocated based on the number of transactions.
    Does it publish those facts?

  25. #3175
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    Don’t be blind to China’s rise in a changing world


    Hear it from the experts

    Let our global subject matter experts broaden your perspective with timely insights and opinions you can’t find anywhere else.

    Ray Dalio of Bridgewater:

    Subscribe to read | Financial Times

    As the FT is behind a pay wall here it is from a different source:

    Don’t be blind to China’s rise in a changing world

    October 23, 20205 min read

    Ray Dalio of Bridgewater:

    "The writer is the founder, co-chairman and co-chief investment officer of Bridgewater Associates For as long as I can remember, people have said that China cannot succeed. Communism doesn’t work. Authoritarianism doesn’t work. The Chinese aren’t creative. They have a big problem with bad debts and property speculation. Yet every day we see China succeeding in exceptional ways.

    It has achieved some of the world’s lowest Covid-19 case rates. Over the past year, its economy grew at almost 5 per cent, without monetising debt, while all major economies contracted. China produces more than it consumes and runs a balance of payments surplus, unlike the US and many western nations. This year nearly half the world’s initial public offerings will be in China, including Ant Financial’s $30bn listing, the world’s biggest ever. Even Tesla’s best-selling Model 3 car may soon be made entirely in China.

    The world order is changing, yet many are missing this because of a persistent anti-China bias. China’s extraordinary performance isn’t new. In fact, apart from the 1839-1949 “Century of humiliation”, it has historically been one of the world’s most powerful countries and cultures. Just over the past four decades its economic changes have been remarkable. Whatever criticisms you may have about Chinese “state capitalism”, you cannot say it hasn’t worked, even if you strongly disagree with how Beijing has done it.

    When I first visited China 36 years ago, I would give $10 pocket calculators to high-ranking officials. They thought they were miracle devices. Now China rivals the US in advanced technologies and will probably take the lead in five years. Since 1984, per capita incomes have risen more than 30 times, life expectancy has increased by a decade and poverty rates have fallen nearly to zero. In 1990, China’s first stock market was launched, designed by seven young patriots who I knew. Since then, it has become the second largest in the world.

    All this is to say that China’s rise has giant political, economic and investment implications. Politically, China has become a major issue for both parties in the US, which fears its rise, spreading global influence, and rejects its authoritarian model and treatment of minorities such as the Uighur Muslims in Xinjiang. China’s rejoinder is that a strong hand is needed to maintain order, what happens inside its borders is its business, and the US has its own human rights problems. Its sovereignty over Taiwan, Hong Kong and other areas are also big issues that are hotly disputed. Nobody knows how these tensions will pan out, but they will affect us all.

    Meanwhile, China’s economy is roughly the same size as the US’s and expanding at a faster pace — so time is on China’s side. It has a growing population of well-educated people, with around a third of the world’s science and technology university majors, three times the US share. It also produces and collects vastly more data to process with artificial intelligence.

    For many in the west, this has a dark side in terms of state surveillance. But for many Chinese it reinforces positive social norms while also promising vast efficiencies. One way to look at China’s relative power is that, with four times the US population, when its per capita income reaches half the US’s in about 25 years, its economy will be twice as large.

    Last, there are the investment implications. As a global macro investor, I think a lot about how much I should invest where, looking at fundamentals and how others are positioned. China’s fundamentals are strong, its assets relatively attractively priced, and the world is underweight Chinese stocks and bonds. These currently account for 3 per cent or less of foreign portfolio holdings; a neutral weighting would be closer to 15 per cent.

    This discrepancy is at least in part due to anti-Chinese bias. I think it is about to change. Chinese markets are opening up to foreigners, who can now access at least 60 per cent of them compared with 1 per cent in 2015. Benchmark weights in major indices are rising. As a result, I expect China to enjoy favourable capital inflows that will support the currency, already at a two-year high, and financial markets too. All this argues for a China overweight in my portfolio.

    Of course things can go wrong in any country. Beijing may not stay its current course of economic reform, though I doubt that will happen. The US and China are also competing fiercely — some say warring — over trade, technology, geopolitics, capital markets and military power. No one can know how bad these wars will be, which country will win, or how. That is why I diversify and allocate money to both countries.

    In the long run, timeless and universal truths determine why countries succeed or fail. In brief, empires rise when they are productive, financially sound, earn more than they spend, and increase assets faster than their liabilities. This tends to happen when their people are well educated, work hard and behave civilly. Objectively compare China with the US on these measures, as I chronicle in an ongoing study, and the fundamentals clearly favour China.

    Prejudice and bias always blind people to opportunity. So, if you have been a China sceptic for reasons that don’t square with what is happening there, I suggest you clear your mind. Likewise for events in the US and its place in the changing world. The eve of the US election is a good time to reflect on both.

    https://thefinanceinfo.com/2020/10/2...hanging-world/

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