
© Carlo Allegri / Reuters
Well, I'm getting deeper into it - and in fact this is practically a breaking story, so I prefer not to wait and you have it here first hand while it's evening in Europe and early afternoon in the US.
Let's start with a very well informed source, a top German financier in Switzerland, commenting on German FM Maas floating the idea of an EU - or global - payment system
bypassing the US (Here's the Reuters
story.)
By the way, were it to be global, that's exactly what Russia-China and the BRICS have been discussing for years.
According to the source, "too many European (and Swiss) financial institutions (and regulators) are run by Americans or ardent fans of the U.S. Plus, they are extremely afraid of the American rhetoric of locking them out of Wall St. if they misbehave."
Comment: Also see: