Ripple Continues To Be Odd
February 5, 2019
More Ripple Oddities
Over the past week, two news items concerning Ripple (XRP) were widely published by cryptocurrency news outlets around the world. Both of these news items supposedly gave credence to the narrative that Ripple will soon replace the dominant international remittance system, SWIFT, which nearly all banks in the world use today.
News Item #1
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The first of these news items this past week was an announcement concerning the possible collaboration of SWIFT with a supposed “blockchain” company, R3 – even though the platform developed by R3 is simply a centralized database that is definitely not a blockchain. Nevertheless, the relevant point for our discussion today is that: SWIFT agreed with a company called R3 to possibly work together – that’s all they announced.
After the release of this announcement from SWIFT concerning R3, the price of XRP shot up by nearly 10% within a few hours, while the market as a whole, including Bitcoin, was relatively flat that day, January 31, 2019. Whether or not the SWIFT news was the primary reason for the price to rise earlier this week is anybody's guess, but the rise in price did follow the announcement from SWIFT.
No matter, the SWIFT/R3 news was spun as a positive by Ripple as they pointed to an agreement R3 and Ripple had entered into previously, agreeing that they too might work together in the future.
Ripple put out the narrative after SWIFT's announcement concerning R3, that SWIFT and Ripple would soon work together because R3 now had an agreement with SWIFT.
It’s a bit convoluted, to say the least and a bit of a stretch to understand the logic of Ripple, but that is to be expected with anything concerning Ripple and XRP these days.
News Item #2
The second news item this past week had to do with Ripple announcing they had signed up their first "banking" partner EURO EXIM BANK that will use Ripple as their primary means to execute cross-border remittances - and not traditional banking methods utilizing SWIFT.
Ripple Partner EURO EXIM BANK Successfully Integrates XRP-Powered xRapid
February 3, 2019
The first and ONLY "bank" to officially adopt Ripple’s XRP-powered xRapid says it has successfully implemented the technology. In a new interview with Trade Finance Global, the bank’s head of compliance and operations Graham Bright says its developers are working closely to ensure everything is running smoothly.
Exim Bank Headquarters, The Lafayette Building, also known as the Export-Import Bank Building, is a federal government office building at 811 Vermont Avenue NW in Washington, D.C.. It was completed in 1940.
The Export–Import Bank of the United States (unofficially abbreviated as "EXIM") is the official export credit agency of the United States federal government. Operating as a wholly-owned federal government corporation, “EXIM” Bank assists in financing and facilitating U.S. exports of goods and services.
https://en.wikipedia.org/wiki/Export%E2%80%93Import_Bank_of_the_United_States
ECB Headquarters: European Central Bank Building.
The European Central Bank (ECB) is the central bank of the 19 European Union countries which have adopted the EURO.
https://www.ecb.europa.eu/home/html/index.en.html
The Export-Import Bank and The European Central Bank are well-established global financial institutions with nice, fancy sounding names that exude money, privilege and prestige.
However, neither of these two established banking institutions has anything to do with Ripple. But at least, Euro Exim Bank - the bank that's not a bank - does.
EURO EXIM BANK - the bank that's not a bank.
In 2015, just a few short years ago, an individual named Kaushik Punjani, a proud Brahmin who resides in North London, started by email, a paper company called Euro Exim Bank in a far-away Caribbean tax-haven island called St. Lucia, off the coast of Venezuela.
Using a virtual office address provided by Sotheby’s Real Estate in St. Lucia, Mr. Punjani applied for a “banking” license from the government of St. Lucia, and received it soon thereafter.
Euro Exim Bank Registered Address: Virtual office at Sotheby’s Property Agent – St. Lucia, the Caribbeans.
https://www.euroeximbank.com/contact-us.php
Euro Exim Bank UK mailing address (unofficial): 1st floor address at a neighborhood office park in a predominantly working-class residential area of North London.
The “banking” license Euro Exim Bank was granted from the St. Lucia government is not a banking license at all.
The St. Lucian authorities granted Mr. Punjani and Euro Exim Bank a “banking” license that restricts it from doing any banking business in St. Lucia – they are, however, free to try and do banking business anywhere else in the world, if they can.
So, EURO EXIM BANK may not have a banking license in any country in the world but at least it does have the right from St. Lucian authorities to use "BANK" in its name so that it sounds more like a legitimate financial institution that’s really, really big rather than what it actually is: a paper company with no real license of any kind to speak of, started in a tiny tax-haven island in the Caribbean called St. Lucia, with a registered address at a local real estate agent’s office and a UK mailing address in a 2nd-tier office condominium complex in a predominantly working-class residential neighborhood in North London.
EURO EXIM BANK - the bank that's not a bank that was started in 2015 - is the only client Ripple has signed with to use their platform - no other "bank" uses Ripple; whether it's a real bank with a real banking license from a legitimate country or one that just has the word "bank" in its name like EURO EXIM BANK from St. Lucia.
Previous Articles:
i) https://steemit.com/bitcoin/@temujinx/the-fed-construct-known-as-ripple-the-blockchain-trojan-horse
ii) https://steemit.com/bitcoin/@temujinx/how-the-fed-manipulates-the-price-of-gold-and-bitcoin
iv) https://steemit.com/bitcoin/@temujinx/bitcoin-etf-waiting-for-nothing
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