If those offshore dollars come home, or maybe even if new dollars stop leaving, there is nothing that can prevent financial collapse. The government will try ab

If those offshore dollars come home, or maybe even if new dollars stop leaving, there is nothing that can prevent financial collapse. The government will try absolutely everything to get that money from citizens, and it will only push more money out. The other option is extreme domestic austerity, tax friendliness, and digital modernization. Suppose you were involved in a financial war. Could there have been a better setup for the adversary’s victory than the domestic spending plans of 2020/21? The people who vote for these measures can’t possibly be ignorant of the situation. Regarding financial crime enforcement, I believe that it can be done in a way that strengthens the currency. Generally that means eliminating activity which is net negative for the economy (the other holders of dollar-denominated assets), including the cost of compliance and lost opportunity for commerce. Right now, a common view is that it is overreaching, although this view may be ignorant of all the terrible things it is preventing. Regardless, we are now in competition on this aspect of our monetary system as well.