Exactly, well put!
I dont think people understand the ripple effect of using SWIFT as an economical war tool will come back to haunt them. Also, them going after foreign bank reserves. I can understand them going after Russia in the SWIFT system but going after foreign currency reserves horrible idea.
The single most important thing in any currency used as a medium of exchange is "trust" without that nothing works.
I will go so far as to say nothing in finance works without that key ingredient.
A handshake and a smile of trust us your money are safe in our dollars will not fly anymore at all. Yuan reserves will jump tremendously in the next 3 years to 5 years and financial institutions leaving SWIFT will be in a large exodus.