That is quite a leap. Russia was also excluded from the NY stock exchange due to the ongoing sanctions; does that mean we can no longer trust stocks bought and sold there?
You're using the law of averages. Not all financial markets participate in the same sanctions to the same extent at the same time, which means that the decision about where to invest can be important.
> taking this absolute stance
You're the one characterizing this as an absolute stance, rather than a practical stance related to the current condition of the markets of the most powerful country that demands the most sanctions.
No, GP claimed that enforcement of any sanctions in international transfers means that the whole system can’t be trusted.
> You're the one characterizing this as an absolute stance, rather than a practical stance related to the current condition of the markets of the most powerful country that demands the most sanctions.
The original argument I was responding to claimed that one could not use financial institutions that participate in SWIFT. If you want to claim that’s a moderate, reasoned position, then ¯\_(ツ)_/¯