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I'm curious how long that is going to last. Can the US not allow El Salvador to use US currency?

anonporridge 5y ago
How would they stop them? Invade and depose the democratically elected president, then setup a puppet government to do their will?
- nawgz 5y ago
  You got it!
  - anonporridge 5y ago
    'murica! Fuck you now do what we tell you!
- dilap 5y ago
  That'd be extreme, but there would be all sorts of possible ways. See eg https://www.theguardian.com/commentisfree/2014/oct/23/gough-whitlam-1975-coup-ended-australian-independence https://www.theguardian.com/commentisfree/2014/oct/23/gough-...
- 09bjb 5y ago
  It wouldn't be the first time...or second, or third, or fourth, or fifth... Source: https://www.amazon.com/Overthrow-Americas-Century-Regime-Change/dp/0805082409 https://www.amazon.com/Overthrow-Americas-Century-Regime-Cha...
- Permit 5y ago
  Lots of jokes about invading or overthrowing the gov't but I believe they would just cut El Savador off from the U.S. financial system entirely. The same thing was applied to a handful of Chinese and Hong Kong officials. See: https://www.scmp.com/economy/china-economy/article/3098691/how-us-uses-dollar-payments-system-impose-sanctions-global https://www.scmp.com/economy/china-economy/article/3098691/h... > The extensive and complex nature of the US financial system means non-US international banks would most likely comply with the Hong Kong sanction requests to safeguard their overseas network and US dollar-denominated transactions that are ultimately cleared in the US by passing through the US Clearing House Interbank Payments System (Chips). My understanding is that if you do not comply you are basically unable to trade in USD.
  - jdasdf 5y ago
    > Lots of jokes about invading or overthrowing the gov't but I believe they would just cut El Savador off from the U.S. financial system entirely. Good thing they're using bitcoin now!
    - deleted 5y ago
      [deleted]
- dragonwriter 5y ago
  > How would they stop them? Invade and depose the democratically elected president, then setup a puppet government to do their will? Are you at all familiar with Latin American history? That's hardly an unprecedented US response to ideological, commercial, or other differences.
- oh_sigh 5y ago
  Threaten to cut diplomatic ties, prevent US banks from doing business with El Salvador, prevent USD remittances, make transferring BTC to El Salvadorans illegal, etc.
m00dy 5y ago
It is obvious that we are not going back to Petro-dollar system.
SilasX 5y ago
I assume it would be more like requiring US exchanges to reject bitcoin from El Salvador addresses. I know people have been stung before on this exchanges for having deposited or withdrawn bitcoin that is too few hops from a prohibited use like gambling. (But don’t have cites atm.)

How would they stop them? Invade and depose the democratically elected president, then setup a puppet government to do their will?

nawgz 5y ago
You got it!
- anonporridge 5y ago
  'murica! Fuck you now do what we tell you!
dilap 5y ago
That'd be extreme, but there would be all sorts of possible ways. See eg https://www.theguardian.com/commentisfree/2014/oct/23/gough-whitlam-1975-coup-ended-australian-independence https://www.theguardian.com/commentisfree/2014/oct/23/gough-...
09bjb 5y ago
It wouldn't be the first time...or second, or third, or fourth, or fifth... Source: https://www.amazon.com/Overthrow-Americas-Century-Regime-Change/dp/0805082409 https://www.amazon.com/Overthrow-Americas-Century-Regime-Cha...
Permit 5y ago
Lots of jokes about invading or overthrowing the gov't but I believe they would just cut El Savador off from the U.S. financial system entirely. The same thing was applied to a handful of Chinese and Hong Kong officials. See: https://www.scmp.com/economy/china-economy/article/3098691/how-us-uses-dollar-payments-system-impose-sanctions-global https://www.scmp.com/economy/china-economy/article/3098691/h... > The extensive and complex nature of the US financial system means non-US international banks would most likely comply with the Hong Kong sanction requests to safeguard their overseas network and US dollar-denominated transactions that are ultimately cleared in the US by passing through the US Clearing House Interbank Payments System (Chips). My understanding is that if you do not comply you are basically unable to trade in USD.
- jdasdf 5y ago
  > Lots of jokes about invading or overthrowing the gov't but I believe they would just cut El Savador off from the U.S. financial system entirely. Good thing they're using bitcoin now!
  - deleted 5y ago
    [deleted]
dragonwriter 5y ago
> How would they stop them? Invade and depose the democratically elected president, then setup a puppet government to do their will? Are you at all familiar with Latin American history? That's hardly an unprecedented US response to ideological, commercial, or other differences.
oh_sigh 5y ago
Threaten to cut diplomatic ties, prevent US banks from doing business with El Salvador, prevent USD remittances, make transferring BTC to El Salvadorans illegal, etc.

m00dy 5y ago

It is obvious that we are not going back to Petro-dollar system.

SilasX 5y ago

I assume it would be more like requiring US exchanges to reject bitcoin from El Salvador addresses. I know people have been stung before on this exchanges for having deposited or withdrawn bitcoin that is too few hops from a prohibited use like gambling. (But don’t have cites atm.)