Astral Codex Ten

SWIFT

17 min read

SWIFT

Article

SWIFT is a recurring organization in the Astral Codex Ten archive, appearing 2 times across 2 issues between June 24, 2022 and October 18, 2022. The archive places it in contexts such as “cut Russia off from SWIFT”; “Cutting off SWIFT, or even threatening to do so”; “flips on … SWIFT”. It most often appears alongside EA, effective altruism, France.

Metadata

  • Category: Organizations
  • Mention count: 2
  • Issue count: 2
  • First seen: June 24, 2022
  • Last seen: October 18, 2022

Appears In

Source Context

Recovered passages from the original issue text. When the raw archive preserved outbound links inside the source passage, they are listed directly under the quote.

Your Book Review: Public Choice Theory And The Illusion Of Grand Strategy
June 24, 2022 · Original source
It’s all a competition to see who can signal “I hate Putin” the most, but Germany was still shutting down all its nuclear power plants to rely on Russian gas despite warnings from every other EU state (Russia accounts for 40% of Europe’s gas imports) — so much for grand strategy. That is not to excuse Putin’s invasion (he is, after all, the aggressor) and no, Ukraine is not “the West’s fault” as Mearsheimer has claimed in his viral lecture, but “NATO’s door remains open” for me and “we're going to start WW3 because you're in my sphere of influence” for thee is no grand strategy at all. Indeed, the irrational Western response is not predictable by the unitary actor model, but by the public choice model. Hanania writes: If you were going to cut Russia off from SWIFT, for example, why wouldn’t you announce it beforehand? The whole point of a punishment like that is supposed to be its deterrent effect, but if you don’t communicate that a specific action will happen, then it can’t influence behaviour. The answer here seems to be a lack of grand strategy, with leaders responding to events according to emotion and public relations more than anything. Cutting off SWIFT, or even threatening to do so, seems extreme before an invasion occurs, but not after it has begun. The West cannot rely on sanctions to make Russia abandon its core national security interests, which at the very least include a no-NATO commitment, the acceptance of the secession of Donetsk and Luhansk, and the recognition of the annexation of Crimea. Sanctions will also push Putin closer to Beijing, and the US will continue down the self-defeating path of alienating both of the other two superpowers — so much for American grand strategy. Hanania writes: Even if Putin has maximalist aims at this point, that doesn’t mean sanctions are worth doing. Their costs are high and they may have major consequences for the global economy. One has to consider the possibility that they make Russia more repressive at home and more brutal in its persecution of the war. Putin is getting sanctioned, but ordinary Russians are getting cancelled. The Metropolitan Opera of New York has announced it will no longer stage performers who have supported Russian President Vladimir Putin. Carnegie Hall has done the same, and the Royal Opera House in London is cancelling a planned Bolshoi Ballet residency (one of the oldest and most prestigious ballet companies in the world). Eurovision banned Russia. Tchaikovsky is cancelled. As Tyler Cowen writes, cancel culture against Russians is the new McCarthyism. The culture war has morphed into a hyperreal form on the Internet. Just as COVID is the first pandemic in the Age of Twitter, so the Ukraine invasion is, in some sense, the first war in the Age of Twitter. As it unfolds, we are seeing many disturbing parallels to the events of early 2020. People are rapidly normalising once-fringe ideas like a NATO-enforced no-fly zone (while completely oblivious to the fact that it means shooting down Russian planes and causing WW3), direct US conflict with Russia, regime change in Moscow, and even, incredibly, the use of nuclear weapons. The overnight flips on German defence spending and SWIFT are like the overturning of conventional public health policies on masking and lockdowns. We have entered the age of shitpost diplomacy, as coined by Tanner Green, in which the official Twitter account of the US Embassy in Kiev literally posts memes to spite Putin: A Russian sixth-grader could explain why celebrating the glories of Kievan Rus does not subvert Putin’s claims about the history of the Russian nation so much as reinforce them. Just like Hong Kong’s protests, Ukraine has won the meme war with utterly lopsided propaganda and unanimous international support on the Internet. As Yoshimi writes: Floating ghostlike above it is our war, the myth of the ‘Ghost of Kyiv’, ace MIG-29 pilot who has apparently shot down six Russian planes, or the legend of the Ukrainian soldiers defending an island outpost who replied “Russian warship go fuck yourselves” to a surrender offer and may or may not have died heroically, or two Russian II-76 transport aircraft that maybe were shot down near Kiev, or videos of air strikes or dead bodies which variously are Russian or Ukrainian until they turn out to be from Gaza six years ago, or the viral video of an old Ukrainian woman telling off a Russian soldier by offering him sunflower seeds so when he dies, sunflowers (Ukraine’s national flowers) will sprout from the soil. We’re raising funds for the Ukrainian army on crowdfunding apps and giving advice to the civilians being handed assault weapons about how to disable tanks, sharing weird homophobic pictures of Putin as a gay icon and spamming Russian government posts. Ukrainian president Volodymyr Zelensky has made the decision to stay and fight rather than flee like most would-be leaders who go all in for American foreign policy, and now is being deified by us as “badass”, “a true leader”, etc. etc., alongside his people, whose resistance to authoritarianism we are told is unparalleled in the modern world. After all, so it goes, who could be next? And like in Hong Kong, despite winning the culture war in hyperreality, the actual war in reality is won by the side with overwhelming military might, not morality. The real war is where Ukrainians are experiencing the genuine life-shattering effects of military conflict. It matters because this is the first time Western response is driven by Twitter outcry, and it will not be the last. A New EA Cause? Besides Hanania’s recommendations in the last section (which he admits are more or less impossible in an excellent interview with Caplan), a worthy EA priority might be to somehow turn the public tide on sanctions, which literally kill more people than Putin. Americans should be appalled by the atrocity committed in their names. The banality of the incompetence of foreign policy elites does not excuse their evil. With how entrenched the special interests are, I have no idea if it’s even worth trying, but at the very least the sheer amount of suffering and death from sanctions should be made common knowledge. Nuclear security is one of the top priorities in Effective Altruism, per 80,000 Hours, Future of Life Institute, and Our World In Data. Toby Orb, who wrote the definitive book on existential risk, The Precipice, estimates x-risk from nuclear war to be ~1 in 1000 in the next century. Luisa Rodriguez estimates a 1.1% chance of nuclear war each year and that the chances of a US-Russia nuclear war may be in the ballpark of 0.38% per year; summarised by Max Roser as: Nuclear risk is neglected by the public because of Pax Americana since the collapse of the USSR, and is not discussed as often in EA as it’s thought to be relatively well-funded and mainstream, but in fact major donors like the MacArthur Foundation have been withdrawing funding. As Joan Rohling details in an 80,000 Hours podcast there is much to be done, especially when Ukraine gave up their nuclear arsenal in 1994 in exchange for Russia’s promise to never threaten or use military force against them. A worthwhile adjacent cause area might be de-escalation of public outcry to reduce x-risk from nuclear war beyond just regular anti-proliferation efforts — even a Russian specialist from the RAND Corporation is surprised by how much public outrage is driving policy: Even just the pace of the sanctions: we went to 11 out of 10 in like two days — farther than many expected we’d ever get in short order. And I think the same is true about these military assistance initiatives. We’re just trying to do something because there’s a public demand for action. So that’s what worries me, that the sort of public outrage that’s being channeled in Western democracies through political systems could result in decisions that prove ultimately unwise. Despite how odd it is that some wars are “legal” while others aren’t, we should be glad UNSC exists as much as everyone laughs at how useless the rest of the UN is. All is fair in love and war, but international norms is all that stands between us and nuclear annihilation. It is hard to emphasise just how delusional it is for the public to fixate on no-fly zones — I, like Scott, am surprised we’re still capable of jingoism. 80,000 Hours has updated their top career recommendations to include China specialist to improve China-Western coordination on global catastrophic risk, which seems more important after reading how irrational and captured the American foreign policy apparatus is. As Hanania writes, “great power competition” is an anachronism. If Ukraine is the first war warped by hyperreality, it won’t be the last. Now that US foreign policy elites have driven Putin into the arms of China, let’s hope IR specialists can imbibe the public choice model instead of antagonising yet another nuclear rival. Public Choice Theory and the Illusion of Grand Strategy is an important work because it raises the sanity waterline, which at the least should make us stop killing millions for no reason, and at the most should make the human race more knowledgeable of how to prevent total extinction from nuclear armageddon. Pax Americana is dead, but a multipolar world will be more humane. Endnotes In the fiscal year 2018, the top five government contractors were all weapons manufacturers, with Lockheed Martin in first place at $40.6 billion. The Department of Defence spent $358 billion on contracting, ten times higher than second place Department of Energy. Collective action problems that stop a bunch of smaller companies from effectively influencing policy are no hindrance for companies like Lockheed Martin.
Inline links: not, viral lecture, NATO’s door remains open, we're going to start WW3 because you're in my sphere of influence, writes, writes, cancelled, banned, cancelled, writes,, German defence spending, shitpost diplomacy, posts, https://substackcdn.com/image/fetch/$s_!j4gR!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F3c5db00c-e420-4b54-b826-b85d9ddf186d_900x647.png, writes, interview, 80,000 Hours, Future of Life Institute, Our World In Data, The Precipice, ~1 in 1000, estimates, summarised, https://substackcdn.com/image/fetch/$s_!PRc2!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fe90b1bb5-d84b-45dc-b9fa-2edddbf6b9fa_1600x1006.png, Pax Americana, MacArthur Foundation, details, gave up, surprised, Scott, jingoism, China specialist, captured, writes, the sanity waterline, a multipolar world will be more humane
22
October 18, 2022 · Original source
Several additional plaintiffs I can’t find good information about You can find the complaint here. The plaintiffs write: The [CFTC’s action], without explanation or other indication of reasoned decisionmaking, without “written notice of the facts or conduct which may warrant” the Revocation, and without providing anyone “an opportunity to demonstrate or achieve compliance” with the terms of No-Action Relief or other requirements, violates the Administrative Procedure Act. 5 U.S.C. §§ 558, 706. Among other things, the Revocation is “arbitrary, capricious, an abuse of discretion, [and/or] otherwise not in accordance with law” and occurred “without observance of procedure required by law.” The Court should “hold unlawful and set aside” the Revocation, including its command that contracts that would otherwise turn on events occurring after February 2023 be prematurely liquidated. 5 U.S.C. § 706. The Court also should enter a preliminary and then permanent injunction against the prescriptions in the Revocation requiring the liquidation of contracts by February 2023, including contracts that concern the 2024 elections, well before they would ordinarily mature. I am not a lawyer, but it sounds kind of like they’re saying “the decision was bad, and the Administrative Procedure Act says regulators shouldn’t do bad things”. I am split between the part of me which hates government regulators doing bad things, and the part of me which feels like this is how you get a cover-your-ass-ocracy that never does anything at all without fifteen layers of paperwork and ten trillion dollars per action. Whatever. At least this time it’s in my favor. Of course there are prediction markets about it: Source: Insight Prediction Nuclear Warcasting, Part 2 Samotsvety Forecasting is a team made of top prediction market players and tournament winners, vaguely affiliated with effective altruism, who make predictions in the public interest. Earlier this year, they got attention for forecasting the risk of nuclear war - in particular, they said there was an a 0.01% per month chance of London getting nuked this spring. Since then, most of the fear has crystallized into a specific scenario. Suppose Russia is losing very badly in Ukraine. Putin, fearing a coup or revolution at home if he gives up, decides to use a tactical nuclear weapon, ie a “small” nuke more suited to winning battles than destroying cities. He nukes a Ukrainian battlefield position. The West is enraged at this violation of the nuclear taboo and feels like it needs to respond decisively - maybe by nuking something on Russia’s side, or through some other act of extreme escalation. Then Russia feels like they need to respond, and eventually it escalates to strikes on major cities and global nuclear war. There are reasons for doubt. Tactical nukes wouldn’t really be useful in Ukraine; the battle lines are too spread out and there’s no single place where a nuclear explosion could take out a substantial portion of Ukraine’s forces. In the past, nuclear powers have accepted lost wars gracefully rather than turning to nukes. And the Russians deny it, and saying this is all just Western propaganda intended to scare people. Amid this uncertainty, Samotsvety has published an update: now they are at 16% chance that “Russia uses any type of nuclear weapon in Ukraine in the next year”, and 0.02% per month of a strike on London. Although they didn’t mention it this time, they previously said the risk of a strike on San Francisco was a little over half that of London; I don’t know if that’s changed. See also Dan Keys’ comment here for some skepticism of Samotsvety’s process. Swift Centre is a lot like Samotsvety; they’re a collection of top forecasters brought together by EA to make important predictions. They also took a swing at the nuclear question, and said 9.1% chance of a hostile nuclear detonation in Europe in the next six months. They didn’t calculate the risk that this would spread to global war, but they did discuss how different scenarios would bring the risk up or down: One of my hopes for forecasting is that it eventually becomes so well-validated that decision-makers can take these kinds of considerations into account: “Should we sent ATACMS missiles to Ukraine? It would have such-and-such benefits, but also increase the risk of nuclear escalation by 3.6%, is it worth it?” We can’t directly compare Samotsvety and Swift because they’re predicting over different time periods. But assuming that there’s more risk in the next six months than in the six months after that, I think Samotsvety is a little higher but they’re not embarrassingly far off. Metaculus is a bit more optimistic than either, believing there’s only a 4% chance of detonation in Ukraine in 2023 and a 7% chance of any use in the next ~year. Max Tegmark is going much higher than anyone else and says 16% chance of global nuclear war. Kalshi Applies For Election Markets Kalshi is a regulated and fully-legal prediction market with good lobbyists and a compliance team. This means the CFTC probably won’t randomly shut them down one day. But it also means they can only create new markets with CFTC permission. In July, Kalshi asked the CFTC for permission to make midterm election prediction markets - specifically, which party will win control of the House and Senate. The CFTC has said they will make a decision by October 28 (which doesn’t leave much time for predicting to happen before the November 8 election, but I guess it sets a precedent). September was the Request For Comment period, when the CFTC solicited comments from stakeholders about what they should do. Kalshi tried really hard to get lots of people to send in positive assessments - I know this because of how many people asked me “why is the CEO of Kalshi emailing me about this thing?” Their strategy seems to have worked; among the people who wrote to the CFTC in support were: A managing director at JP Morgan
Inline links: additional plaintiffs, here, https://substackcdn.com/image/fetch/$s_!LaYa!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F0aaec309-35d6-430d-aeaa-b7cab022f4d6_548x215.png, Insight Prediction, Samotsvety Forecasting, Earlier this year, accepted lost wars gracefully, published an update, comment here, Swift Centre, They also took a swing at the nuclear question, https://substackcdn.com/image/fetch/$s_!TczM!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F702c1236-47d9-4c60-9b99-ab9b2ca320e7_737x377.png, a 4% chance, a 7% chance, 16% chance, In July, they will make a decision by October 28, A managing director at JP Morgan
One of my hopes for forecasting is that it eventually becomes so well-validated that decision-makers can take these kinds of considerations into account: “Should we sent ATACMS missiles to Ukraine? It would have such-and-such benefits, but also increase the risk of nuclear escalation by 3.6%, is it worth it?” We can’t directly compare Samotsvety and Swift because they’re predicting over different time periods. But assuming that there’s more risk in the next six months than in the six months after that, I think Samotsvety is a little higher but they’re not embarrassingly far off. Metaculus is a bit more optimistic than either, believing there’s only a 4% chance of detonation in Ukraine in 2023 and a 7% chance of any use in the next ~year. Max Tegmark is going much higher than anyone else and says 16% chance of global nuclear war. Kalshi Applies For Election Markets Kalshi is a regulated and fully-legal prediction market with good lobbyists and a compliance team. This means the CFTC probably won’t randomly shut them down one day. But it also means they can only create new markets with CFTC permission. In July, Kalshi asked the CFTC for permission to make midterm election prediction markets - specifically, which party will win control of the House and Senate. The CFTC has said they will make a decision by October 28 (which doesn’t leave much time for predicting to happen before the November 8 election, but I guess it sets a precedent). September was the Request For Comment period, when the CFTC solicited comments from stakeholders about what they should do. Kalshi tried really hard to get lots of people to send in positive assessments - I know this because of how many people asked me “why is the CEO of Kalshi emailing me about this thing?” Their strategy seems to have worked; among the people who wrote to the CFTC in support were: A managing director at JP Morgan
Inline links: a 4% chance, a 7% chance, 16% chance, In July, they will make a decision by October 28, A managing director at JP Morgan