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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
by 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]