A post shared on X claims that U.S. State Department spokesman Vedant Patel made a statement asserting that undermining the U.S. dollar and developing alternatives to the SWIFT system is a “direct threat to democracy in the world.”

While BRICS discusses the end of the dollar era, the US State Department 🇺🇸 is contorted.

State Department spokesman Vedant Patel said that undermining the role of the dollar and developing alternatives to SWIFT is a direct threat to democracy in the world pic.twitter.com/GhWrupymBS

— S p r i n t e r (@SprinterFamily) October 24, 2024

 Verdict: False

The video is a deepfake. The manipulated clip circulating online does not accurately represent Patel’s statements during any official press briefing.

Fact Check:

Investors are currently uncertain about the future strength of the dollar, fueled by questions regarding the Federal Reserve’s rate cuts and the outcome of the presidential election in November 2024, according to Reuters.

The post suggests that Patel made a controversial claim amid discussions within BRICS about the future of the dollar. “The development of an alternative to the SWIFT system and the undermining of the dollar’s role threaten democracy,” Patel is quoted as saying in part.

However, a thorough review of the official transcript from the State Department press briefing on Oct. 22 shows Patel did not make this statement. The transcript can be found here and does not contain any remarks regarding the dollar or alternatives to the SWIFT system.

In addition, the video appears to have indicators that the audio and images have been tampered with. This includes monotone voice patterns and lip movements that may seem unnatural.

While the US State Department has not released a specific statement regarding this video, it consistently encourages the public to verify information through credible sources. (RELATED: Are Over 75% of the World’s Countries Adopting the New BRICS Payment System?)

Misinformation surrounding Patel’s alleged statement about the dollar and SWIFT alternatives emerged in the context of the recent BRICS summit, where discussions focused on the shifting dynamics of global finance.