Episode Details

This episode examines an article from The Epoch Times (subscription required) titled “The power behind the photo: Why SWIFT, not sanctions, may shape the Ukraine endgame.” Most people are not familiar with the SWIFT system, what it does, and how much power it wields in the flow of global finance. SWIFT – the Society for Worldwide Interbank Financial Telecommunication is based in Belgium. While SWIFT is mainly a messaging platform, it can also screen, freeze, and exclude financial transactions from any country in the world. If a country loses access to the SWIFT system, the financial consequences can be disastrous.