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Podcast: PRay TeLL, Dr. Hash
Episode: 1383 New Reserve Currency
Description: America’s military might is formidable but that’s not what gives the United States control of the world, for that they use finances. Since money is imaginary, if two countries trade with each other, how do they transfer from one imaginary currency to the other? Behind most international money and security transfers is the Society for Worldwide Interbank Financial Telecommunications, called SWIFT in the vernacular. SWIFT is the messaging network of all financial institutions. Without SWIFT, businesses can’t do business, and SWIFT is denominated in U.S. dollars. If that wasn’t enough, all Oil payments in the world ar...