In this complimentary clip from The Call @Hedgeye, Financials analyst Josh Steiner explains the severity of Russia being kicked out of SWIFT, while highlighting potential near term and long lasting consequences.
“The SWIFT system, which is a dollar based system, is sort of the primary systems that keeps the U.S. dollar in its world reserve position,” explains Steiner. “What’s going to happen here is that as Russia is kicked out of SWIFT, initially it’s going to cause a tremendous amount of short term dysfunction. They’ll be forced to move on to other platforms.”
“The concern if you are thinking longer term, like over the next few years or even half decade, is does this sort of hasten the de-dollarization of the world reserve system?”
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