Episode 1429 • • 1:04:07 - 1:07:00
1429: Puppy State
SWIFT System Mechanics, Energy Sector Exemptions, NSA Spying
The SWIFT system is clarified as a messaging intranet for banks rather than a fund transfer mechanism. It is noted that banks handling Russian energy transactions have been exempted from the ban to allow the EU to continue purchasing gas. Historical context is provided regarding the NSA's past spying on the SWIFT network, which previously caused international friction between the U.S. and Europe.