All this talk about blocking Russia from using SWIFT. Their alternative is to switch to China's Cross-Border Interbank Payment System (CIPS), dump their dollars and buy Chinese yuans. This will speed ... View MoreAll this talk about blocking Russia from using SWIFT. Their alternative is to switch to China's Cross-Border Interbank Payment System (CIPS), dump their dollars and buy Chinese yuans. This will speed the decline of the petrodollar as the world reserve currency. Our leaders need to think ahead what their actions could do. Actions that seem the right thing to do today, could have far reaching consequences.
