Several Russian banks were banned from the SWIFT financial-messaging system following Russia’s full-scale invasion of Ukraine. So, what does it mean to lose access to this important part of the international economy, and are there any viable alternatives?
–
Effective communication systems are the backbone of how the world stays connected, from mobile phones, email networks, to banks.  

What do banks use to communicate?

SWIFT – or the Society for Worldwide International Financial Telecommunications – is a system that banks use to securely send messages to each other. It is one of the key pillars of the financial world, connecting more than 11,000 member banks in some 200 countries and territories globally. Trillions of dollars’-worth of currency are sent across borders every single day – and it’s largely thanks to the messages sent by SWIFT.

How does SWIFT work?

If you wish to transfer $1,000 from your bank in Singapore to your friend in the UK, you’ll need a few key details; namely your friend’s account number and his bank’s SWIFT code. If the two banks have an account with each other, they authenticate the payment request, apply an exchange rate and the equivalent amount is deducted from your bank account for your friend to receive.

If the banks don’t have a relationship, the message will be sent through intermediary banks, until the payment request is verified for your friend to receive his money. 

“It’s really about secure, automated payments,” Alistair Milne, an economist at Loughborough University told CNBC. “This is so that everything integrates with the bank systems.”

What happens if you’re banned from SWIFT?

SWIFT has been thrown into the spotlight with the Russian invasion of Ukraine, when numerous Russian and Belarusian banks were removed from the SWIFT network as part of economic sanctions. This essentially means these banks’ ability to conduct financial transactions on an international scale has been disrupted.

However, SWIFT is not the only system for international transactions. Russia has its System for Transfer of Financial Messages or SPFS, serving 400 users as of February 2021. Twenty-three of the users were foreign banks.

The People’s Bank of China also has the Cross-Border Interbank Payment System, or CIPS. By 2019, it reached more than 3,000 banks directly and indirectly, across 167 countries and regions.

Furthermore, alternative networks like cryptocurrencies and blockchain technologies are advancing.

Caroline Malcolm, who heads international policy at blockchain data company Chainanalysis acknowledges that a legacy system like SWIFT is hard to detach from. “But there are certain capabilities and features in blockchain based systems that can’t be matched by traditional systems,” she said in an interview with CNBC. “Blockchain allows people to hold their own funds and control that in a very direct way.”

Watch the video to find out more about the future of payments.

#CNBC #SWIFT #Blockchain #Crypto
—–

Subscribe: http://cnb.cx/2wuoARM

CNBC International TV: https://cnb.cx/2NGytpz

Facebook:
https://www.facebook.com/cnbcinternational

Instagram:
https://www.instagram.com/cnbcinternational/

Twitter:
Tweets by CNBCi

source

💰 *Download Dollarwise- 6.0 Is Now LIVE* – Big Deals, New Features, Free Trial: https://bit.ly/46fiDYP

THESE MESSAGES BETWEEN THEM ARE *INSANNEEEEE* – I go through all of their texts, and it’s a complete mess. No way they are staying together… watch here: ➡️ https://bit.ly/chpostshow
=============================
🔥 Un-F*ck your finances in 2-minutes → https://bit.ly/3JCuwPS
=============================
👉 Checking & Savings: Get up to a $350 bonus with a new Chime® Checking account, and earn up to 3.50% APY on your savings: https://secure.moneymatchup.com/350-bonus
🔥 GamerSupps: tasty, cheap ($0.40/serving)! Save 10% with code CALEB: https://gamersupps.gg/caleb
=============================
*Sponsors for This Video*
=============================
(insert sponsors)

=============================
Master Your Money with Caleb Hammer
=============================
⚡️Budget YOUR dream life with my simple courses: ➡️ https://bit.ly/calebhammer
⚡️Check out all of my custom Financial Audit merch: ➡️ https://bit.ly/caleb-merch

=============================
*Check Out My Resources*
=============================
👉 Get a $40,000 cash bonus by investing with Webull! https://www.webull.com/k/Caleb
👉 Checking & Savings: Get up to a $350 bonus with a new Chime® Checking account, and earn up to 3.50% APY on your savings: https://secure.moneymatchup.com/350-bonus
👉 Land a high-paying job with no experience or degree: ➡️ https://coursecareers.com/CalebHammer
👉 Get $20 from Acorns for free: ➡️ https://acorns.com/caleb
👉 First 100,000 Mine (formerly Fizz) sign-ups with code HAMMER10 get $10: https://www.usemine.com/caleb
👉 Helium Mobile: Use promo code CALEB for a FREE plan ➡️ https://hellohelium.com/
👉 Protect your online privacy and security for free with Aura: ➡️ https://aura.com/hammer
👉 Get an exclusive HighLevel 30-day trial: https://gohighlevel.com/calebhammer

=============================
*Chapters*
=============================
00:00 Intro

=============================
Want more content?
=============================
🍿 Caleb Hammer Clips: https://www.youtube.com/@calebhammerclips

=============================
*Connect with me!*
=============================
TikTok: https://www.tiktok.com/@calebhammercomposer
X: https://x.com/sircalebhammer
IG: https://www.instagram.com/calebhammercomposer/
Facebook: https://www.facebook.com/calebhammercomposer/

=============================
*Want to be a guest on Financial Audit?*
=============================
👉 We film weekdays in our studio in Austin, Texas (in person only)! To apply, visit: https://calebhammer.com/apply

*Some of the links and other products that appear in this video are from companies for which Caleb Hammer will earn an affiliate commission or referral bonus. This is not investment advice.

Sponsorship and business inquiries: business@calebhammer.com

source

I tried selling a brainrot, and I thought I got an amazing offer…

#shorts #viral #viralshorts #funny #roblox #rblx #brainrot #stealabrainrot #money #scam

source

🚀 Book A Portfolio Strategy Call Here: →https://accelerator.altcoinpro.com/?video=rK3yiXvVh_M

🏦 See How Much You’ll Save on Your Merchant Processing in 90 Seconds: https://imerchantsolutions.com/savings-calculator?ref=AGT-00048

👁️ Watch The Great Reset Documentary Here: https://www.bullrunners.com/great-reset

📚 Get Our Free E-book Here: https://www.bullrunners.com/altcoinsecrets

Connect With Us:

📩 Email: Team@bullrunners.com
🦅 X: https://x.com/BullrunnersHQ
📸 Instagram: https://www.instagram.com/bullrunners
📲 TikTok: https://www.tiktok.com/@bullrunners
💬 Telegram: https://t.me/bullrunnersofficial

Subscribe: https://www.youtube.com/@Bullrunners

#Crypto #XRP #Bitcoin

READ BEFORE WATCHING

AGREEMENT REQUIRED: By watching this video, you agree to our Terms of Service (https://www.bullrunners.com/terms-of-service) and Privacy Policy (https://www.bullrunners.com/privacy-policy)

Disagree? Stop watching now.

No Advice, High Risk: This content is for education and entertainment only—not financial, legal, tax, or investment advice. Crypto trading carries extreme risks, including total loss. We’re not licensed advisors or brokers. Consult professionals before acting. You bear all responsibility for your choices.

Liability Release: Bullrunners LLC, and its affiliates, disclaim all liability for any losses, damages, or claims (financial, reputational, or otherwise) from this content. Per our Terms, you indemnify and hold us harmless from legal actions, including attorney fees.

No Guarantees: We don’t promise profits. Past performance isn’t predictive. Affiliate links may earn commissions; do research before buying. We may hold crypto positions mentioned.

Legal Compliance: Not an offer to buy/sell securities under SEC/CFTC rules or any laws. You’re responsible for your jurisdiction’s regulations. Governed by Florida law per our terms; disputes resolved in Miami, Florida courts.

As always, results aren’t typical. So don’t be typical; stay bullish!

source

CA Rachana Ranade shares powerful and practical advice about gold investment, portfolio allocation, and why gold jewellery should not be treated as an investment. In this insightful podcast clip, she explains why around 10% of your portfolio can be allocated to gold for financial stability, but buying jewellery with heavy making charges is not the smartest investment strategy. She breaks down the difference between investing in gold as an asset versus buying gold ornaments emotionally or socially.
She also talks about gold biscuits, making charges, resale value, and why many people misunderstand gold investments completely. This episode is packed with practical financial planning lessons, investment strategies, and smart money management advice for beginners, families, and long-term investors who want to build wealth intelligently.

#rachanaranade #goldinvestment #personalfinance #financepodcast #wealthcreation #moneymanagement #financialfreedom #investmenttipps #goldprice #smartinvesting #indianfinance #portfoliomanagement #financialeducation #moneymindset #businesspodcast #longterminvesting #richmindset #investing #marathipodcast #sarvakaahi

source

India’s prime minister just asked people to stop buying gold. In a country where gold means weddings, security and power — that’s explosive.

For more news go to: http://www.dw.com/en/

Follow DW on social media:
►Instagram: https://www.instagram.com/dwnews
►TikTok: https://www.tiktok.com/@dwnews
►Facebook: https://www.facebook.com/deutschewellenews/
►Twitter: https://twitter.com/dwnews

Für Videos in deutscher Sprache besuchen Sie: https://www.youtube.com/dwdeutsch

Subscribe: https://www.youtube.com/user/deutschewelleenglish?sub_confirmation=1

#India #gold #dwbusiness

source

Prove it’s yours, or I don’t believe you.

#Money #LostMoney #Comedy #Skit

source

In this video, we go over the 10 common financial traps you’ll face as your net worth grows!
Mortgage Offer Comparison Tool: https://bankrate.com/landing/humphrey-yang/best-mortgage-options?sub-id=compareHY

The biggest wealth mistakes usually aren’t obvious in the moment, but over time they can make a huge difference. Hopefully this video helps you spot them early.

👉 Get Your Free Financial Health Score (I made the quiz!) ➡️ https://usehelm.com
🌟 Free Templates and Resources: https://beacons.ai/humphreytalks/downloads
👾 Join the free Discord Community: https://discord.gg/xJzsaGaaDE
🐪 Hump Days Newsletter ➭ https://humpdays.substack.com

WHO AM I?
Hello 👋 I’m Humphrey, I used to be a financial advisor, worked in gaming/tech, and started my own eCommerce business. I make practical, rational content on investing, personal finance, the news, and much more with a data-backed approach. My goal is to help you with financial literacy and creating wealth.

PS: I am no longer a current Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel!

SOCIALS:
* Second Channel: https://youtube.com/@hug
* Instagram: https://instagram.com/humphreytalks
* Twitter: https://twitter.com/humphreytalks
* TikTok: https://tiktok.com/@humphreytalks

⏱️ Timestamps:
0:00 – Start Here
0:04 – Overconcentration
1:32 – Lifestyle Creep
3:03 – Not Being Tax Efficient
4:22 – Being Lazy About Refinancing
6:03 – Working Too Much
7:17 – Overconfidence From Early Success
8:54 – Risk Complexity
10:04 – Being Too Illiquid
11:24 – Delaying Saving For Retirement
12:48 – Being Underinsured

source

Let’s do another breakdown #finance #genz #trending

source

source