CIPS vs. SWIFT: Dedollarization or Global Public Good?
Citation APA (7th Edition) Pennings, A.J. (2026, Aug 27) CIPS vs. SWIFT: Dedollarization or Global Public Good? apennings.com https://apennings.com/digital-geography/the-100-trillion-debt-era-mmt-as-permission-sact-as-engine/ Introduction The competition between China’s Cross-Border Interbank Payment System (CIPS) and the Western financial infrastructure represented by Society for Worldwide Interbank Financial Telecommunication (SWIFT) is often described as a technological contest where one payment network is […]
The Three-Layer USD as the Primary Global Financial Infrastructure
This article expands on the argument that the “USD” is the combination of the US dollar and Eurodollars, which includes the petrodollars, recognizing that the US Federal Reserve is still the primary regulator of the global currency.
The Cost of Fragmentation: What We Lose When Multilateralism Gives Way to Multipolarity
Multipolarity concerns the distribution of power among states; multilateralism concerns the institutional mechanisms through which states coordinate. A world can therefore be multipolar and still be strongly multilateral. The danger is not multipolarity itself. The danger is allowing political multipolarity to become institutional fragmentation.
The USD System at the Center of China’s Global Engine
The strategic question today is what China would lose if global dollar liquidity became substantially less available. China could continue trading through the renminbi, CIPS, bilateral currency arrangements, and other alternatives, but replacing the dollar requires replacing an enormous coordination infrastructure, not merely introducing another currency.
USAID, ICT4D, and the Geopolitics of Treasury-Backed Liquidity for Tier 4 and 5 Countries.
While publicly framed as a consumer-protection milestone, the macro-political economy of the GENIUS Act functions as a powerful mechanism for sovereign debt management. By legally legitimizing dollar-pegged stablecoins as safe cash equivalents, the US government has effectively engineered a global, decentralized distribution engine for its own national deficit.
Designing a Global AI Engine for Monetary Coordination
AI should not be viewed simply as another analytical tool. Its larger role is to become coordination intelligence. Traditional spreadsheets computed formulas written by human analysts. AI continuously evaluates millions of relationships simultaneously, identifying emerging imbalances, forecasting liquidity needs, and recommending adjustments as conditions change.
The Conversational Oracle: A Tetrad Analysis of Artificial Intelligence
By restructuring the primary human interface into a conversational dialogue, AI has fundamentally altered the grammar of knowledge acquisition. Humans no longer navigate static databases; they consult an omnipresent, animistic interlocutor for interpretation, foresight, and meaning. This secondary computational orality satisfies a deep-seated human desire for unmediated guidance, yet it introduces a profound structural vulnerability. The oracle we converse with is inherently a “black box,” masking hyper-complex statistical probabilities as authoritative truth.
The Hangman’s Rope: How the USSR Created the Eurodollar Market that Later Strangled It
Citation APA (7th Edition) Pennings, A.J. (2026, May 17) The Hangman’s Rope: How the USSR Created the Eurodollar Market that Later Strangled It. apennings.com https://apennings.com/dystopian-economies/the-hangmans-rope-how-the-ussr-created-the-eurodollar-market-that-later-strangled-it/ “The capitalists will sell us the rope with which we will hang them.” – Attributed to Vladimir Lenin Introduction The “Third World Debt Crisis” of the 1980s was a decisive […]
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About Me
Professor (full) at State University of New York (SUNY) Korea since 2016. Research Professor for Stony Brook University. Moved to Austin, Texas in August 2012 to join the Digital Media Management program at St. Edwards University. Spent the previous decade on the faculty at New York University teaching and researching information systems, digital economics, and global political economy
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anthony.pennings@gmail.com
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anthony.pennings@sunykorea.ac.kr
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