February 26, 20223 yr Author 1 minute ago, Thrive said: Isn’t SWIFT just the mechanism by which banks transact with one another internationally? Like in the US, domestic bank transactions run through the fed wires. Think this basically means that these Russian banks are cut off from transacting with the world (and vice versa). Curious to see how the capital markets react to this on Monday (or maybe it was already factored into the volatility we saw this past week). I think initially will be bearish
February 26, 20223 yr 5 minutes ago, Thrive said: Isn’t SWIFT just the mechanism by which banks transact with one another internationally? Like in the US, domestic bank transactions run through the fed wires. Think this basically means that these Russian banks are cut off from transacting with the world (and vice versa). Curious to see how the capital markets react to this on Monday (or maybe it was already factored into the volatility we saw this past week). That’s the general gist. We use it for wire transfers and trade settlement. Haven’t worked trading in a decade when I used to have to manually reconcile trade confirms so don’t use Swift personally. Vikas def the expert.
February 26, 20223 yr 2 minutes ago, DaEagles4Life said: Does she want to get married quickly? On the next 90 day fiancé 😂
February 26, 20223 yr 6 minutes ago, LeanMeanGM said: Hot....that country gets better the more I learn about it.
February 26, 20223 yr 13 minutes ago, Dave Moss said: My wife: what is Swift? Me: Hold on, let me ask @vikas83 Wife: who is that? Me: A poster in the subforum of a professional football team’s unaffiliated message board. don't forget tier 1 target for the Russian disinformation campaign!
February 26, 20223 yr Author Putin has wildly over played his hand. Makes me a bit nervous that he will start to do stupid crap.
February 26, 20223 yr Overly simplistic explanation of SWIFT: Think of it is a secure messaging app for international bank transfers. When one bank is going to transfer money to a bank in another country, it sends the details of that transaction (amount, account number to credit, etc.) via SWIFT. So if you are a German energy company buying gas from Gazprom, Deutsche Bank would send the details of the transfer to Gazprom's Russian bank via SWIFT. While the money itself doesn't move over the system, without the information shared via SWIFT, it is impossible to track and reconcile international bank transfers. So cutting the Russian banks off from SWIFT basically means they can neither send nor receive transfers from banks out of the country. It's a devastating blow. Now, I'm guessing the workaround for the Germans will be to pay existing accounts held by Gazprom at non-Russian banks. I'm assuming they must have some. So while the Germans could pay Gazprom by crediting to their account at say Citibank, that money would be frozen and couldn't make its way to Russia.
February 26, 20223 yr 1 minute ago, DEagle7 said: Too late. They’re culpable now. On the issue of SWIFT, assume Russia and China have previously come up with a unique method of payment for transactions? Otherwise, how is China supposedly going to trade with Russia now? By sending suitcases full of cash?
February 26, 20223 yr 26 minutes ago, Dave Moss said: My wife: what is Swift? Me: Hold on, let me ask @vikas83 Wife: who is that? Me: A poster in the subforum of a professional football team’s unaffiliated message board. you think we believe you have a wife
February 26, 20223 yr Author 1 minute ago, Thrive said: Too late. They’re culpable now. On the issue of SWIFT, assume Russia and China have previously come up with a unique method of payment for transactions? Otherwise, how is China supposedly going to trade with Russia now? By sending suitcases full of cash? Nah, we will forget about them tomorrow. This all falls on Putin. It all went downhill after he gave us a 2 hour history lesson.
February 26, 20223 yr 6 minutes ago, 20dawk4life said: you think we believe you have a wife No, not really.
February 26, 20223 yr USA and EU agree to ban selected Russian Banks from Swift. What is SWIFT in banking? the Society for Worldwide Interbank Financial Telecommunication Based on daily average number of messages. Swift, or the Society for Worldwide Interbank Financial Telecommunication, is a global messaging system for financial transactions that connects more than 11,000 banks and other organizations in more than 200 countries and territories
February 26, 20223 yr 47 minutes ago, LeanMeanGM said: Btw that’s an air soft rifle. I don’t know if she actually is fighting 😆 but still….smash!
February 26, 20223 yr 8 minutes ago, LeanMeanGM said: Hope some Stingers take out those Ruski Planes.
February 26, 20223 yr 1 minute ago, DBW said: Btw that’s an air soft rifle. I don’t know if she actually is fighting 😆 but still….smash! She has a gun??
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