Episode Details

After World War II, the US dollar became the world's primary international trading currency. In this video Dr. Thiel and Steve Dupuie go over some of the reasons for that development. They also discussed US dominance of SWIFT. SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication. SWIFT provides a network that enables financial institutions worldwide to send and receive information about financial transactions. The use of sanctions and the weaponization of SWIFT by the US is brought out as are alternatives to SWIFT development by Russia (System for Transfer of Financial Messages-SPFS) and China (Cross-Border Interbank Payment System-CIPS). Also the BRICS Pay alternative to SWIFT, …