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Tag Archives: clearing house

SWIFT and RUSSIA

#139 Let’s say I owe you $200, and you owe me $150. Would you give me $150, and I give you $100? No. We would agree to cancel out $100, and you would owe me $50. SWIFT is an international system that acts as a clearinghouse among 11,000 banks in 200 countries worldwide by cancelingContinue reading “SWIFT and RUSSIA”

Posted byKenneth E. LongMarch 2, 2022March 2, 2022Posted incommentary, newsTags:clearing house, Russia, SWIFT, Ukraine8 Comments on SWIFT and RUSSIA
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