Thread

1. guidoiaquinti · 1790685221 · focus · HN ↗

   Several International Criminal Court (ICC) judges have been unable to access their bank accounts or receive routine salary payments and financial transfers due to financial blockages triggered by United States sanctions. In the country where they live

   1. mhh__ · 1790688233 · focus · HN ↗

      Frankly I think this is a good bit of hormesis for European countries. It's critical that we have domestic payment infrastructure.

      1. mike_hearn · 1790692701 · focus · HN ↗

         Europe does have domestic payment infrastructure, that's in some ways more advanced than the US. That doesn't matter because US sanctions don't depend on control of the infrastructure itself. They have a recursive structure: if you don't enforce US sanctions, or you trade with a peer that doesn't, then you yourself become sanctioned. FATCA works the same way, as did the deployment of the global anti-money laundering system (a US invention, largely).

         1. someonebaggy · 1790695771 · focus · HN ↗

            So someone could make a European bank for sanctioned individuals, and this would be allowed to exist but would never be able to transfer money to another bank except in cash?

            1. mike_hearn · 1790697424 · focus · HN ↗

               Not even in cash. Also the executives would risk being arrested if they ever flew over the USA, etc.

               1. someonebaggy · 1790756837 · focus · HN ↗

                  The thing about cash is that you don't know where it came from.

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