According to a post shared on A statement has been released.

While the BRICS are discussing the end of the dollar era, the US State Department 🇺🇸 is distorting.

State Department spokesperson Vedant Patel said undermining the role of the dollar and developing an alternative to SWIFT is a direct threat to democracy around the world. pic.twitter.com/GhWrupymBS

— S Printer (@SprinterFamily) October 24, 2024

Verdict: False

The video is a deepfake. A manipulated clip circulating online does not accurately represent Patel’s remarks at the official press conference.

Fact check:

Investors are currently facing increased uncertainty about the dollar’s future strength due to Federal Reserve interest rate cuts and questions about the outcome of the November 2024 presidential election, the paper said. Reuters.

The post suggests that Patel made the controversial claim during a debate within BRICS over the future of the dollar. “The development of alternatives to the SWIFT system and the weakening of the role of the dollar threatens democracy,” Patel was quoted as saying in part.

However, a thorough review of the official transcript of the State Department press conference on October 22 shows that Patel did not make this comment. You can find the transcript here It also does not contain any mention of alternatives to the dollar or the SWIFT system.

Additionally, the video appears to have evidence that the audio and images have been tampered with. This includes monotonous speech patterns and lip movements that appear unnatural.

The U.S. State Department has not issued a specific statement regarding the video, but has consistently encouraged the public to verify information through reliable sources. (Related: More than 75% of countries in the world have adopted the new BRICS payment system?)

Misinformation surrounding Patel’s alleged comments on the dollar and SWIFT alternatives emerged in the context of the recent BRICS summit, which focused on changing global financial dynamics.