Re:A quick breakdown of what SWIFT is and why it matters
by EarthIsHome on Friday February 25, 2022 @02:15PM
(#30470996)
> I often wonder how money is stored.
In a computer account. Here's a 22-second clip[0] from a 60-Minutes interview with a former chair of the Federal Reserve talking about how money is lent to banks. Literally just numbers on a computer.
"...We simply use the computer to mark up the size of the account that they have..."
In a computer account. Here's a 22-second clip[0] from a 60-Minutes interview with a former chair of the Federal Reserve talking about how money is lent to banks. Literally just numbers on a computer.
"...We simply use the computer to mark up the size of the account that they have..."
[0]: https://www.youtube.com/watch?v=hiCs_YHlKSI