Are we worried about SWIFT incorrectly?

Sharing is Caring!

by davefairtex

Friend of mine sent me a video.  This fellow – Jeff Snider – suggests that all SWIFT is, is a messaging system.  Banks are fine doing the exact same thing over the phone with trusted counterparties.  This is a 1 hour video – its a fair amount to wade through – but the upshot is that it is just used to securely send messages.  Not settlement.  No actual money is transferred via SWIFT.  You can pick up the phone and do the same thing.

Jeff Snider LIVE (SWIFT Deep Dive. How It Does And Doesn’t Impact Russia)

Here’s some more backup for this:
SWIFT is a messaging network that financial institutions use to securely transmit information and instructions through a standardized system of codes. Although SWIFT has become a crucial part of global financial infrastructure, it is not a financial institution itself: SWIFT does not hold or transfer assets. Rather, its utility lies in its power to facilitate secure, efficient communication between member institutions.

Reading the article is substantially faster than listening to the video.  🙂

See also  Stefan Molnyeux: “The Unspeakable Truth About Silicon Valley Bank!”


See also  Trillions of dollars are about to flow from the Fed into the stock market. QE has returned, stronger than ever.

Views: 48

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.