What's new

Iran's banks to be blocked from global banking system

Friend it is not that simple ... How would you force the Iranians to do that when they believe that Israel must be defeated in the Armageddon to relinquish Jerusalem, thereby opening the door for the return of the Mahdi???? Probably you would try financial sanctions to "force" the Iranians to go against their cherished Shiite beliefs, right?
incidentally it's some christian belief that after destruction of Israel in Armageddon Jesus Christ will come as messiah and ....
shias believe at the end of the time all the earth will be filled with injustice and vice and ... at the time our twelfth imam will come and defeat the vices and fill the earth with justice .
there is no destruction of Israel and Armageddon as per condition for Imam Mahdi to show itself to us (there will be no return as he is among us but don't announce his presence)

True. It would bring clarity to the Iranian position, however. If they withdraw from the NPT is will be unmistakable to all that they intend to develop a nuclear weapon. Probably a number of other Gulf nations would withdraw from the NPT in response. That doesn't change my point that the Iranians could defuse the entire situation by fully co-operating with the IAEA. Given the very high price they are paying, it isn't rational to me that they aren't doing this. UNLESS they want nuclear weapons above all else, and they do not believe they can deceive the IAEA if they fully co-operate. What other rational explanation is there for Iranian behavior?

honestly go read the NPT and tell me Iran is in violation of what part of it?
and paying high price our not is our concerns not yours ,the problem here is our right mot the price
 
Our governments is not able to provide high speed internet in villages , how they can build such a huge network in matter of months.. Our incapability and lethargic attitude from last 100 years made us dependent on these systems .. we can't change any of this ..

there is no way of making such system in matter of weeks or months ,but it's possible to build a small system that work in several banks you deal with and then expand it to a collateral system specially if you find some other countries who feel threatened by this act of SWIFT . now who can trust SWIFT that they don't do such with them if they have disagreement With US and EU
 
there is no way of making such system in matter of weeks or months ,but it's possible to build a small system that work in several banks you deal with and then expand it to a collateral system specially if you find some other countries who feel threatened by this act of SWIFT . now who can trust SWIFT that they don't do such with them if they have disagreement With US and EU

Bolded part speaks about it self. To keep every one dependent on such a system , no one will gonna ban multiple countries from it together.
One has to ban single country at a time not capable to create parallel system. Again if some country will try to do this , they have to take ppl in confidence ,bcos same time it will going to affect economy badly .. You need to create some thing like SWIFT when you are part of it , take its support to build another.. time has pass .. now I wonder how we will pay for oil bill as Iran only accepts USD nothing other than USD, kind of irony ....
 
The first cheque was Issued in Baghdad by Muslim Bankers to Muslim Merchants and cashed in China. Its a shame that now the capital of banking is Europe. Revival of Islamic banking could mean Muslims will eventually have an independing banking system free from clutches of colonial Europe. Hence I see the European promotion of islamic banking as suspicious because this could be their attempt to take over even before Muslims have a chance to establish their banking infrastructure.

I think we should make an Asian economic federation which includes Pakistan, India, Bangladesh. China and Central Asia to make intra-country adjustments in metallic commodities. This will render SWIFT useless like a retard it already is. There is a reason why Islamic khalifas established the gold and silver dinar.

Does the world really think these sanctions are helping Iranians ?

However, Iranian will grow stronger and they will find a way out.

God bless Iran and the People of Iran.

Right now worry about your beloved country dear.
 
Iran should make a system of its own and invite countries to join it. Iran has the opportunity to become a banking center of the world and counter western domination in this area. No other country has the gut to do it but Iran. So go Iran. Lead the world and the rest of the world will follow.
 
LOL ! The American idiots dont know that the only way the Iranian government cooperates is when it is brought into the world market and not to isolate it ? Idiots will remain idiots

It is very, very simple for Iran to avoid all of this. All they have to do is be FULLY co-operative with the IAEA. Let the IAEA visit wherever they want to visit, let them interview whoever they want, etc. If the IAEA is convinced that the Iranian nuclear activities are not at all weapons related, then these sanctions will not be sustainable, no matter what the US CIA or Israeli Mossad thinks is going on in Iran. It is incomprehensible that Iran will not co-operate with the IAEA, UNLESS they really are working on nuclear weapons and are afraid that they cannot hide this fact from an IAEA that has free reign to investigate.
How can we let your spies (IAEA inspectors) let everything inspect and meet everyone. Last time one of our scientist met one of your mercenary spies from the IAEA he got martyred. never again we will be fooled ! Resistance is the only way to go !

Iran should make a system of its own and invite countries to join it. Iran has the opportunity to become a banking center of the world and counter western domination in this area. No other country has the gut to do it but Iran. So go Iran. Lead the world and the rest of the world will follow.
I agree with you, but it seems that the world has become cheap and would sell their bodies for a few mcburgers and Ipads
 
I think Iran should either completely withdraw from the NPT or else be fully transparent. Difficult to do something in between.
 
I agree with you, but it seems that the world has become cheap and would sell their bodies for a few mcburgers and Ipads

Not necessarily. The world has no other choice. There is no alternative to this system of transaction. If Iran builds one, you can expect alot of countries and banks to join up, specially those in "bad" book of westerners. You can expect Venezuelan, Bolivian, Syrian, Belorussian, and other smaller countries to join up in addition to banks from China, Russia or other states. It is going to take time to build it and develop trust in the world, but once you do, it will be worth it. Give the world the choice and rest assured out of these 7 billion people not every one likes west. And they will pick up you as their choice. Just you have to win their trust.
 
Iran should make a system of its own and invite countries to join it. Iran has the opportunity to become a banking center of the world and counter western domination in this area. No other country has the gut to do it but Iran. So go Iran. Lead the world and the rest of the world will follow.

Doesn't Iran have some kind of petroleum exchange based in Kish island?
Smart people see opportunities in troubles. This is Iran chance to be a banking hub of alternate financial system. If you are using SWIFT connect to some back-office in Europe then who and how can someone enforce sanctions? :azn:

If someone remembers the BCCI bank and how the American investigators actively pursued and closed it as it expanded rapidly enough to become a challenge and was able to set foot by establishing its own alternate channel of wire transfers which may be deemed as money laundering by typical western hypocrites.

Wikipedia said:
The forced closure of BCCI

BCCI was awaiting final approval for a restructuring plan in which it would have re-emerged as the "Oasis Bank". However, after the Sandstorm report, regulators concluded BCCI was so fraught with problems that it had to be seized. It had already been ordered to shut down its American operations in March for its illegal control of First American.
On July 5, 1991, regulators persuaded a court in Luxembourg to order BCCI liquidated on the grounds that it was hopelessly insolvent. According to the court order, BCCI had lost more than its entire capital and reserves the year before. At 1 pm London time that day (8 am in New York City), regulators in five countries marched into BCCI's offices and shut them down. Around a million depositors were immediately affected by this action.
On July 7, 1991, Hong Kong Office of the Commissioner of Banking (forerunner of the Hong Kong Monetary Authority) ordered BCCI to shut down its business in Hong Kong on the grounds that BCCI had problem loans and the Sheikh of Abu Dhabi, the major shareholder of BCCI, refused to provide funds to the Hong Kong BCCI. Hong Kong BCCI was liquidated on July 17, 1991.
In 2002, Denis Robert and Ernest Backes, former number three of Clearstream, described as a "bank of banks" which practices "financial clearing", discovered that BCCI had continued to maintain its activities after its official closure, with "microfiches" of Clearstream's illegal unpublished accounts.[10]
A few weeks after the seizure, on July 29, Manhattan District Attorney Robert Morgenthau announced that a Manhattan grand jury had indicted BCCI, Abedi and Naqvi on twelve counts of fraud, money laundering and larceny. Morgenthau, who had been investigating BCCI for over two years, claimed jurisdiction because millions of dollars laundered by the bank flowed through Manhattan. Also, Morgenthau cited BCCI's secret ownership of First American, which operated a subsidiary in New York City. Morgenthau said that all of BCCI's deposits had been fraudulently collected because the bank misled depositors about its ownership structure and financial condition. He described BCCI as "the largest bank fraud in world financial history."
On November 15, BCCI, Abedi and Naqvi were indicted on federal charges that it had illegally bought control of another American bank, Independence Bank of Los Angeles, using Saudi businessman Ghaith Pharaon as the puppet owner.
Just a month later, BCCI's liquidators (Deloitte, PWC) pleaded guilty to all criminal charges pending against the bank in the United States (both those lodged by the federal government and by Morgenthau), clearing the way for BCCI's formal liquidation that fall. BCCI paid $10 million in fines and forfeited all $550 million of its American assets—at the time, the largest single criminal forfeiture ever obtained by federal prosecutors. The money was used to repay losses to First American and Independence and to make restitution to BCCI's depositors. None of this was enough to rescue both banks, however; Independence was seized later in 1992, while First American was forced into a merger with First Union in 1993.
However, many of the major players in the scandal have never been brought to trial in American or UK courts. Abedi, for example, died in 1995. He was under indictment in the United States and UK for crimes related to BCCI, but Pakistani officials refused to give him up for extradition because they felt the charges were politically motivated. Even without this to consider, he'd been in poor health since suffering a stroke in the 1980s. Pharaon is still a fugitive as of 2011; at last report he was believed to be in Syria.
In 1992, United States Senators John Kerry and Hank Brown became the co-authors of a report on BCCI, which was delivered to the Committee on Foreign Relations. The BCCI scandal was one of a number of disasters that influenced thinking leading to the Public Interest Disclosure Act (PIDA) of 1998. The report found that Clifford and his legal/business partner Robert A. Altman had been closely involved with the bank from 1978, when they were introduced to BCCI by Bert Lance, the former director of the Office of Management and Budget, to 1991. Earlier, Pharaon was revealed to have been the puppet owner of National Bank of Georgia, a bank formerly owned by Lance before being sold back to First American (it had previously been an FGB subsidiary before Lance bought it). Clifford and Altman testified that they had never observed any suspicious activity, and had themselves been deceived about BCCI's control of First American. However, the federal government and Morgenthau contended that the two men knew, or should have known, that BCCI controlled First American.
Morgenthau and the federal government brought indictments against Clifford and Altman, but did not pursue Clifford due to his age and deteriorating health (he died in 1998). Altman, however, was indicted and ultimately tried in New York. Although he was acquitted, Altman accepted a de facto lifetime ban from any role in the banking industry to settle a civil suit by the Fed.
The British government also set up an independent inquiry, chaired by Lord Justice Bingham, in 1992. Its House of Commons Paper, Inquiry into the Supervision of the Bank of Credit and Commerce International, was published in October of that year. Following the report, the bank's liquidators launched the Three Rivers DC v Bank of England case, on behalf of thousands of BCCI creditors who are suing the Bank of England for its failure to properly oversee the bank. The BCCI creditors sought £850m in damages, claiming that the Bank of England was guilty of misfeasance in public office. The case collapsed in November 2005, with the Bank of England seeking to re-claim legal bills. The cost of the case to the creditors could be as high as £100m.[11]
 
Doesn't Iran have some kind of petroleum exchange based in Kish island?
Smart people see opportunities in troubles. This is Iran chance to be a banking hub of alternate financial system. If you are using SWIFT connect to some back-office in Europe then who and how can someone enforce sanctions? :azn:

If someone remembers the BCCI bank and how the American investigators actively pursued and closed it as it expanded rapidly enough to become a challenge and was able to set foot by establishing its own alternate channel of wire transfers which may be deemed as money laundering by typical western hypocrites.

Necessity is the mother of invention. BCCI was never shut down because of "laundering". There is no such thing in the economics as laundering. West calls anything it can not track via its banks as laundering, but such a concept does not exist in economics or for that matter in Islamic banking. BCCI was shut down since Agha Kamal, the Pakistani genius behind it was using its financial muscle to help Pakistan's industry. By that time, BCCI had become one of the largest banks in the world rivaling, citibank, bank of America and Japanese banks. Those lies and allegations against BCCI were a conspiracy against Pakistan, nothing more. Iran is a different case though, since its government is going to fully defend such an institute. So it is not going to become another BCCI. I wish our government also had defended BCCI back then. But now it is history.
 
Iran should make a system of its own and invite countries to join it. Iran has the opportunity to become a banking center of the world and counter western domination in this area. No other country has the gut to do it but Iran. So go Iran. Lead the world and the rest of the world will follow.

Iran is capable of doing this, but it would be very slow start-up and wont receive World-wide recognition, at least from the start (much like Iranian oil bourse).

It would be better if joined project of Iran-China-Russia etc. would introduce such system, for the start to circumvent SWIFT ban, and gradually to grow in a reliable alternative on World-wide scale.
 
Iran is capable of doing this, but it would be very slow start-up and wont receive World-wide recognition, at least from the start (much like Iranian oil bourse).

It would be better if joined project of Iran-China-Russia etc. would introduce such system, for the start to circumvent SWIFT ban, and gradually to grow in a reliable alternative on World-wide scale.

You are right. But the problem is Russia and China are not that supportive of Iran. They just look after their interests. If Iran is to start such a thing, they will have to do it alone all by themselves and then wait for some countries to join it as fortune changes hand.
 
You are right. But the problem is Russia and China are not that supportive of Iran. They just look after their interests. If Iran is to start such a thing, they will have to do it alone all by themselves and then wait for some countries to join it as fortune changes hand.

Iranians can do a lot more. They need to slash their oil/gas price for a period. lets see how loyal America's friends really are

Necessity is the mother of invention. BCCI was never shut down because of "laundering". There is no such thing in the economics as laundering. West calls anything it can not track via its banks as laundering, but such a concept does not exist in economics or for that matter in Islamic banking. BCCI was shut down since Agha Kamal, the Pakistani genius behind it was using its financial muscle to help Pakistan's industry. By that time, BCCI had become one of the largest banks in the world rivaling, citibank, bank of America and Japanese banks. Those lies and allegations against BCCI were a conspiracy against Pakistan, nothing more. Iran is a different case though, since its government is going to fully defend such an institute. So it is not going to become another BCCI. I wish our government also had defended BCCI back then. But now it is history.

All western banks have or have been involved in money laundering.
 
It is very, very simple for Iran to avoid all of this. All they have to do is be FULLY co-operative with the IAEA. Let the IAEA visit wherever they want to visit, let them interview whoever they want, etc. If the IAEA is convinced that the Iranian nuclear activities are not at all weapons related, then these sanctions will not be sustainable, no matter what the US CIA or Israeli Mossad thinks is going on in Iran. It is incomprehensible that Iran will not co-operate with the IAEA, UNLESS they really are working on nuclear weapons and are afraid that they cannot hide this fact from an IAEA that has free reign to investigate.

Iran's nuclear sites are all under the IAEA surveillance cameras 24/24, now they want to visit one of the most sensitive military bases in Iran, next what?
You know that if they want to frame some one this is exactly the way to do it.
This is not about the nuclear issue, it is about a Muslim regime very popular in Iran and abroad and the west falsely perceive it as a threat.
 
Back
Top Bottom