Loading ...EU, US Agree To Expel “Selected Russian Banks” From SWIFT, Sanction Russian Central Bank
“We commit to ensuring that selected Russian banks are removed from the SWIFT messaging system. This will ensure that these banks are disconnected from the international financial system and harm their ability to operate globally.”
“In response to these measures, Russia will need to address the population to ensure financial stability and lack of bank runs on Monday as the alternative could have devastating consequences for the Russian economy. Also, expect money-alternatives such as gold and bitcoin, to move higher as Russians scramble to reallocate their savings.”
“It would likely mean a run on gold and/or cryptos which could soar as billions in savings are converted into a currency that can not be suspended with the flick of a switch.”