What is SWIFT? How Russian banks got cut out of the financial system

[@garlicbreathandfarts]

Everything can and usually does get replaced with time.

[@ZenoSamaOmniKing]

BRICS : BRAZIL : Brave 🇧🇷 Russia : Royal 🇷🇺 India : Intelligent 🇮🇳 China : Clever 🇨🇳 south africa : Sturdy 🇿🇦

[@vladimirfasyura8191]

Swift доказало свою ненадёжность и политическую ангажированность

[@Dear_Mr._Isaiah_Deringer]

не могу поделиться своим опытом.

[@spidey5324]

Stupid swift. It needs to be replaced by multiple systems.

[@paurasmore9135]

World needs UPI

[@kelvinking4022]

It will be replaced. It's just a matter of time

[@andywu8558]

You feel it too right? 🤑🤑🤑

[@nickashton3584]

Chinese interbank transfer system CITT already exists

[@tyoong719]

There is clearly a business need for alternative to Swift.

[@kalomboC]

The trouble with the weaponization of the Western Financial System is alternative systems become increasingly attractive as countries (even neutral ones) realize their vulnerability. A similar thing has happened at a smaller scale with dollar denominated payment gateways like VISA etc have found themselves replaced by national switches at a local level. The wise countries and regional blocs will start to prepare and implement parallel financial eco-systems and mandate their use by entities wishing to do business in their countries.

[@urrywest]

Needless to say, the theft of countrie's economic assets held in off shore banks, including dollars owed by the US, erodes trust in those institutions as well as the dollar.... The person most responsible for the implementaion of other currncies by contries otside of the 'international community' is Trump and the continuation of his policies by biden will insure that there will be rival mediums of exchage to the dollar world wide. The initial economic respoince to sanctions in russia was the tanking of the ruble.... That was quickly reversed by russia demanding payment in rubles for it's hard comodities. The ruble quickly climbed to it's pre sanction value after that.

[@TheMap1997]

I always feels like the West especially amthe American shot their own feet

[@er.esakkim8781]

Rupay was created especially to reduce the dominance of VISA & Mastercard. Since it's creation, it has successfully replaced over a significant usage of VISA & MasterCard in India.

[@awesomebrotherhood7698]

The financial systems should be neutral and should never be weaponzied although local platforms should exist to keep the country alive if any politicians talk too much. 😉

[@tanmaysingh267]

@@er.esakkim8781 i don't like rupay

[@dungkicau4155]

If the barrage of sanctions is aimed at punishing Russia for the conflict that caused a humanitarian crisis, then where did the sanctions go when the conflict occurred in the Middle East???? Human reasons often become fairy tales during the day😅

[@pose-x]

China is having a problem Because young pple all over the country refuse to work And it's GDP has dropped dramatically It's so bad the PM is begging them to work

[@Sams_Uncle]

Weaponisation of anything is dangerous.

[@Grizzlyx9]

wat do u want? leave putin alone?

[@roshanjain147]

@@Grizzlyx9 ..if you make a reserve currency..a weapon. People will lose confidence and eventually replace dollar..this will cause hyperinflation in us

[@jayeshtransight]

@@Grizzlyx9 you fight with putin now , you may fight with us also in the future .may be you will see some WMDs in our countries too .

[@B4U_09]

USA and EU - 5500 sanctions Russia - 1 sanction (Rouble) USA and EU- Not fair

[@repure1999]

When 1 country controls all the money... It won't last too long.

[@greendenny4383]

So this is west weapon to sanction and robbery other country, dollar and swift is dangerous thing.

[@jamesdickerson1657]

It's not hard to attract banks when the current system completely crashes.

[@max_galingumas9409]

they did not disconnect Gazprom and other banks responsible for trading gas and oil

[@albertongoogle]

Intermediary bank process should be investigated. Send first time fee is x, send second time (same details) fee is y. Ask receiving bank about it, they don't know. Ask sending bank about it, they also don't know.

[@SoCat559]

XRP to the moon!!

[@MultiTaranaki]

Facts

[@BushmanCanuck]

🚀

[@mollyb3401]

"Detached from swift overnight" As Ripple just lays down their terms for settlement. I ❤ it! Simply Beautiful.

[@ramooznola9720]

flip the switch

[@valeriacortez7003]

589

[@rstefan1821]

Detached from swift overnight is a thing that China Russia and I think India are planning and work for it years now. the sanctions against Russia will simply accelerate the implementation of this alternative to SWIFT System

[@user-db3iy2pp9n]

Is the Coparel document registered at the Interpol Regional Office?Is the Coparel document registered at the Interpol Regional Office?

[@cheryleewilcox3332]

I'm in Venezuela. We are now using the Russian Mir payment system.

[@emilio2647]

Cherylee Wilcox so was Venezuela also banned from using from SWIFT banking?

[@cheryleewilcox3332]

@@emilio2647 Venezuela doesn't depend the SWIFT financial messaging system.

[@awesomebrotherhood7698]

In the end there are two things, If there is a will, there is a way If you give anyone time; they can find something around it

[@supercadet111]

This article glosses over the geopolitical and national security reasons for alternative systems to gain prominence. Nobody ever said SWIFT had to disappear for parallel networks to grow. The Chinese govt also aren't simply going to passively hope that other countries join their system. There are other reasons that countries would like to join the Chinese system as well. Eg. Developing economies lacking large US currency reserves, would be interested in dealing directly in Yuan where possible, and if not threatened by the US Empire 🙄

[@BushmanCanuck]

XRP

[@emilio2647]

Shaun-Paul L I wonder if there will be a global fallout if China is barred from SWIFT?

[@pralinkp3224]

UPI system is all over in india even street vendors can use it . Hope it will replace swift payment so that monopoly can be broken and give way for new beginning

[@frankm4349]

It has to be removed or abandoned as it has been weaponized and politicalize.

[@prasitkoysiripong5150]

Lord Buddha said "Uncertainty is certain" Every thing comes and goes.

[@aninda2457]

Bhagwad Gita also says the same :) and you are right

[@jacobbhattacharjee2820]

Nothing is permanent in this world 😈 your time has come and now Swift will fall

[@simonsayshi]

Ripple has always said they do not intend to replace swift, but help update to current times. Xrp baby

[@chaz2405]

Why dollar?

[@joem0088]

I am no specialist but it seems that SWIFT is just secured, structured messaging. Funds does not change hands with a SWIFT message. You need to follow it with a complex settlement process (like the CHIPS system) to move funds around and that can only be done when relationships are in place. Without a settlement system SWIFT is useless, and the settlement system is much harder to replace because it's a set of long established financial IT/business processes and contractual relations.

[@kwatai9298]

I hope one day world will be free from this neo-coloni message institution.

[@AG-cl9no]

RIPPLE & XRP IS GOING TO TAKE OVER ‼️‼️‼️‼️⚠️

[@chrisnewman7281]

I think the thing it’s worth also mentioning is that this is a secure channel so there is a fairly comprehensive process of authentication

[@johnnydaller]

I was born before SWIFT and we did just fine.

[@draker769]

Back then you don't do much business overseas in the same volume now

[@johnnydaller]

@@draker769 With sanctions, there is not much business to do anyway!

[@abuahmed6058]

If some banks together can form money transfer system the SWIFT then other banks If they want can have their own payment system .

[@freebie808]

END ALL SANCTIONS

[@markdejongh47]

Hello

[@guillermoaguirre]

can't wait to see when all this gets "eaten" by Ripple

[@adrianriley1939]

Me neither brother 🤑🤑🤑

[@theshrirangkadam]

Have you ever heard of UPI. If we are talking of block chain as alternative we must also take a look at UPI first.

[@marx9694]

NOKIA replaced by IPHONES so ?

[@repure1999]

You'll see other means of wiring money outside of Swift...

[@godzillaleung888]

Swift is a system, hardware, software, operator and data, all system can be replace. System is good when the outhority who control it use it as positive aspect of the members, if malfunction can be repair, if use as political pressure to member soon or later will be collapse and replace with better one.

[@ЕвгенийПетров-в5п]

But quention stays. Will those neutral to it use the system if in reality they don't need to?

[@emilio2647]

Ronny Leung I'll bet the US will also ban China from using SWIFT if they invade Taiwan.

[@Shawoniscreative]

Can we appreciate the afford and times being used to make this extra ordinary beautiful report about SWIFT?🤑 Credit goes to Nessa Anwar,Eli loh, nicky 👇Suryono, Victor Loh, Cristy Garret🖤

[@CNBCi]

Thank you. It means a lot. ❤️

[@MrPanjialam]

SWIFT is not trusted enough since they can steal our money instantly if we have different idea. Better use 2 or 3 SWIFT system like so we can reduce the risk.

[@archit7401]

India's🇮🇳 UPI has a huge potential to be an alternative to SWIFT. It has NO transaction charges (MDR) & can instantly transfer money between banks, e-wallets, merchants & consumers. You are just required to scan a QR code or have the UPI Id of the party involved. It is Simple, secure & hassle free. It is also accepted in developed countries like France, Singapore, Switzerland, Japan, S. Korea & The UK.

[@kerstingriese6138]

I HAVE INCURRED SO MUCH LOSSES TRADING ON MY OWN...I TRADE WELL ON DEMO BUT I THINK THE REAL MARKET IS MANIPULATED... CAN ANYONE HELP ME OUT OR AT LEAST TELL ME WHAT I'M DOING WRONG!

[@Rdev845]

UPI will emerge as replacement of Swift. It's growing over 100% 🇮🇳🇮🇳🇮🇳

[@agarwalamit081]

UPI isn't an international transaction system. It is only a national payment method like VISA or MasterCard

[@Rdev845]

@@agarwalamit081 But NPCI is collaborating with Singapore banks to provide UPi service their deadline is July 2022. Nepal, Bhutan and UAE are also in process....Then we can demomstrate UPI can work internationally.

[@mgulled7974]

India is poor country and its agrarian economy is irrelevant

[@izdotcarter]

What countries do you send money to?

[@bikermaniac6002]

Swift is already been replaced. Eurasia will has its own payment system.

[@softwareyhardwarefusion]

No problem, SPFS Payment system and CIPS from China is better, all countries into BRICS will use this system.

[@JeanGunnhildr88]

They end themselves...

[@The-Celestial]

I recommend you guys should check out the _UPI_ system of India & I guarantee you SWIFT no longer will be needed. Soo seamless & easy to use & transfer you cannot even fathom!

[@busarachaikham149]

Understand very clear , thank you

[@CoronaHero]

Russia demands payment in Rupees, checkmate swift! I love the narrator saying, “countries that get out of line…” you mean won’t put up with USA meddling! lmbo Welcome to losing world currency status - just focus on your problems at home and Europe take care of itself

[@akihiko99]

UPI

[@peladoclaus]

as always.. the juicy stuff is left out..

[@StPiter111]

It's done😎

[@aniketchauhan2168]

Upi be like hey! 😂

[@ecavero1]

1:53 You just described the Lightning Network! Just replace banks with Lightning Nodes!

[@itconsgenio]

Short answer is Yes. Like everything else can be replaced.

[@rlbadger1698]

Well that didn't age well. 2 years later the USD is loosing its clout.

[@apb5866]

They are talking as if use blockchains and CBDC are far off into future. LOL

[@AG-cl9no]

XRP VALE KZbinR SHOULD BE INTERVIEWED IN THIS CHANNEL

[@user-fx2oo3bi9c]

SWIFT🇪🇺 CAN EASY REPLACED WITH UPI🇮🇳 SYSTEM . UPI is cheaper,efficient,highly secure and advanced than Swift .

[@mgulled7974]

India is poor country and its agrarian economy is irrelevant

[@keithleyjarvis5663]

This video makes it seems like swift is an all powerful system 🤦🏽‍♂️🤦🏽‍♂️🤦🏽‍♂️ there Way's around Swift they Just take longer to

[@parler8698]

Are bank accounts still frozen in Canada?

[@akihiko99]

Rupay

[@Barbosas984]

I can see an alternative created by BRICS

[@Rajuvai317]

Ma'am I am opening account in swift bank but it is not active why ma'a Please help me

[@m.n9010]

Xrp is the new world swift

[@shobadasari5363]

How does this affect the common citizen especially,if you have a corrupt political system.Will our lives change for the better ? Will we be left to mow lawns.

[@ЕвгенийПетров-в5п]

Well, you can't send money abroad* or receive them in any legitimate way. *Countries whose banks use only SWIFT

[@ЕвгенийПетров-в5п]

So I can't send money to Europe and nobody can send money to me. Also you can't pay in Russia with your foreign bank's VISA/Mastercard card now. So you need cash then get a local bank card and then you can deposit and pay with that local card in the country.

[@MeiinUK]

​@@ЕвгенийПетров-в5п: It means that there would be normal currency.... And then another layer of electronic tokens that makes it to a ratio on top. That is what is like to happen. It's a form of debasing as well ? But it's weird that a lot of millennials are seeing it as money. It's basically a form of prepaid. Cos the way that the crpyto is structured isn't more than an actual mlm at the moment.

[@alparslankorkmaz2964]

Nice video.

[@jessicacrawford3234]

XRP will take over swift dsoon. ISO2022 will be here in November and Riplle is a front runner on that list.

[@ssting]

Any business, users come first

[@user-db3iy2pp9n]

I want to show my parcel paper please tell me if it is ok or not I want to tell something important which I don't understand whether it is true or false uk Bangladesh

[@Rajuvai317]

I am unable to withdraw money from my SWIFT account Help me please 🙏🙏

[@eastern2western]

Russia is not officially out of swift because eu is still doing business with russia through certai russian banks.

[@UHaulShorts]

can *oil* b replaced?

[@SPQRafc]

Sure, why not

[@dandanfree2925]

Anything can be replace.....how long does it takes ? Russian system works in russia ONLY and Chinese system works in China only.It is good that sanction are destructives now so autocracies & dictators can still park their cash somewhere but it is not businness as usual. Cutting the cash flow is the only thing that works in the loong run without fighting wars.

[@user-db3iy2pp9n]

I want to show a parcel paper which is standard setter bank forgan payment office I want to show a parcel paper please help true or false I am from Bangladesh

[@BipinBabu2024]

What is BRICS payment system?

[@factoryproduct999]

Ma'am I am opening account in swift bank but it is not active why ma'am Help me place ma'am

[@mohamedabdukadir3271]

No, I used Hawala😂, Russia Somalia can help you with the SWIFT problem

[@frankmolina6910]

XRP RIPPLE EFFECT 🙏🙏🙏🙏

[@mudassarhunzai3789]

Good , lot of knowledge

[@MultiTaranaki]

XRP

[@dogegflover6268]

XRP will replace swift

[@DavidArulnathan]

crypto like xrp is faster than swift.....

[@cemeter1832]

Ripple > Swift

[@sachin2842]

UPI India 🇮🇳☺️♥️

[@kanundash]

589

[@adrianriley1939]

A very important number XRP>589

[@irhanespratama]

Ripple

[@jk2435]

India has UPI...it's new and spreading rapidly

[@tacticalwarrior5178]

Blockchain will replace SWIFT. Period.

[@coshi1894]

Xrp

[@digytech4204]

Crypto Currency can replace SWIFT through Blockchain

[@리주민]

And it's not controlled by any country. That's a 1000 point bonus.

[@brmahadev4916]

What is seato

[@adityashankert]

I never used banks for sending money it’s worst way to send money… apps are better

[@weipengtan1923]

Need to bypass the bullies.

[@SamOreo7]

In your dreams.

[@petargeorgiev7556]

XRP will replace SWIFT soon !

[@KennyL1]

Cryptos are very volatile. You wouldn't want to send large amount of money using Cryptos. Central Bank Digital Currency will be the way forward using electronic Blockchain exchange setup by a consortium of central banks and the Bank of International Settlement. This will be parallel to Swift. Trial is being held in Singapore.

[@urbexmediafilm]

stable coins my fren

[@OrlanLupogan]

Easy, use XRP

[@galupas]

It already has been.

[@ZenoSamaOmniKing]

BRICS : BRAZIL : Brave 🇧🇷 Russia : Royal 🇷🇺 India : Intelligent 🇮🇳 China : Clever 🇨🇳 south africa : Sturdy 🇿🇦

[@ཆོསསྐྱོང]

Nooo ... Indian UPI system is much more efficient and quicker ....

[@Buttersausage]

The all powerful American DOLLAR