<story><title>A quick breakdown of what SWIFT is and why it matters</title><url>https://twitter.com/sahilbloom/status/1496861068945154056</url></story><parent_chain><item><author>sealthedeal</author><text>CEO and co-founder of Routefusion here, a cross-border bank to bank payment API.  We use the SWIFT network regularly.  I can 100% confirm that all money in the world is just literally numbers, and it is balanced by the different federal reserve systems around the world to ensure no one can &amp;quot;create&amp;quot; money without notifying everyone.&lt;p&gt;I guess if I was super cool I would do an AMA because this is the only thread that is really my time to shine hahaha.</text></item></parent_chain><comment><author>JacobThreeThree</author><text>&amp;gt;I can 100% confirm that all money in the world is just literally numbers, and it is balanced by the different federal reserve systems around the world to ensure no one can &amp;quot;create&amp;quot; money without notifying everyone.&lt;p&gt;How does the system guarantee that nobody&amp;#x27;s creating money without notifying everyone? Furthermore, does the system guarantee that the central banks of each country are correctly adjusting their books in consequence? Is it all just a trust-based system, or are there additional controls?</text></comment>
<story><title>A quick breakdown of what SWIFT is and why it matters</title><url>https://twitter.com/sahilbloom/status/1496861068945154056</url></story><parent_chain><item><author>sealthedeal</author><text>CEO and co-founder of Routefusion here, a cross-border bank to bank payment API.  We use the SWIFT network regularly.  I can 100% confirm that all money in the world is just literally numbers, and it is balanced by the different federal reserve systems around the world to ensure no one can &amp;quot;create&amp;quot; money without notifying everyone.&lt;p&gt;I guess if I was super cool I would do an AMA because this is the only thread that is really my time to shine hahaha.</text></item></parent_chain><comment><author>rocgf</author><text>Well, since you semi-offered... :)&lt;p&gt;Could you explain this to me like I am a complete moron? I understand that SWIFT allows for international payments, but I don&amp;#x27;t understand exactly how it differs from a normal bank account transfer within the same country.</text></comment>