alt Hacker NewsYeah, but do you control international banking the way they do? That's ultimately how they're able to do this.
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What I find wild is that this control over international banking, and the sanctions it enables, is a key benefit of the US-led world order that Trump is trying to dismantle. I’m quite sure he doesn’t understand this, but a key consequence of his efforts to stop the US from getting “ripped off” is that we will soon no longer have the ability to impose these sorts of sanctions as the global economy re-routes around American control.
Which is why efforts by China to stand up independent cross border payment rails are important. You have to cut the US out of any ability to control activities outside of their boundaries.
China, Egypt to do away with the use of the US dollar - https://news.ycombinator.com/item?id=49555056 - September 2026
China nears launch of mBridge as alternative to Swift - https://news.ycombinator.com/item?id=48636931 - June 2026
Just because millions of us haven't marched on the banks globally in a coordinated effort to control the banking system doesn't mean we can't.
Just have not yet done it.
> Yeah, but do you control international banking the way they do?
This is why Europe needs to detach itself from the American banking system.
It used to be very practical to use it. Countries renounced to some sovereignty in exchange for ease of doing business. The USA had an advantage but it didn't abuse it too much.
The current situation is that the USA is asking to forfeit sovereignty and to control business in an ideological basis. There is a strong incentive to leave that system as the alternative is become a colony of the USA. And the push for colonization is not subtle as the president takes over other countries resources like Venezuela's oil or tries to take control of the straight of Hormuz (None part of the USA at this moment)