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I don't agree with capital controls either, but it's still illegal in some countries. Basically any country where, in my opinion, it would be a good idea to use
by tokioyoyo 2y ago
I don't agree with capital controls either, but it's still illegal in some countries. Basically any country where, in my opinion, it would be a good idea to use such services.
- awesome_dude 2y agoCurrency crisis are quite debilitating https://catalogue.nla.gov.au/catalog/3070732 https://catalogue.nla.gov.au/catalog/3070732 - The Malaysian currency crisis : how and why it happened / Mahathir Mohamad edit: Sorry that first link is for a book This might be better https://www.investopedia.com/articles/economics/08/currency-crises.asp https://www.investopedia.com/articles/economics/08/currency-... second edit - I'll add the relevant paragraph > Anatomy of a Currency Crisis > Investors often attempt to withdraw their money en masse if there is an overall erosion in confidence in an economy's stability. This is referred to as capital flight. Once investors sell their domestic currency-denominated investments, they convert those investments into foreign currency. > This causes the exchange rate to get even worse, resulting in a run on the currency, which can then make it nearly impossible for the country to finance its capital spending.
- tokioyoyo 2y agoThat's fine and dandy, and I agree. But it's still illegal to provide means to circumvent the law. Well, depends on the country and enforcement I guess. It's pretty hard to do so.