Topic: how dollar denominated account works in foreign banks? (Read 423 times)

It's better to use your local currency for main account and loans due to

• absence of losses on convertation;
• absence of risks related to volatility;

Stash could be formed using two or more tools including foreign currency. Usage of several tools allows you to reduce devaluation risks.

It's impossible. Some malicious actions are possible, of course. You can lock funds on your local account if those funds are received from the "blacklisted" bank... Or reject transactions created by such bank. But you can't stop anyone from withdrawing his money into cash or from paying for local services. That's why any user of "sanctioned" bank is able to withdraw his money using ATMs network or in the bank office.

They can guess using some approximations, based on statistics and the local law statements. Of course they can't know the exact volume while it won't transacted through wire transfer.

Of course they can give loans in USD or any another preferred currency, if it's allowed by local law. By the way, result could be funny sometimes... I know a few cases when client refused to pay for the loan by exploiting bugs in the law.

Just like a postal system worked in the 19th century, but faster.

I don't know that Rossiya bank, but many banks appreciate international business people as customers, and propose them dual currency accounts or accounts in a foreign currency. Wherever you are, it's always best to have your main current account in the same currency as your main income, so most expats or travelers like me have something like that.

It's also possible to get a loan indexed to a foreign currency (though in the local currency) if your income is in a foreign currency, but most often, it's risky because you don't know how the currencies will evolve.

1. The question is how is it possible to control a dollar account of a foreign banks?

I've scratched my head a few times over this article now and to be honest the conclusion is: 


2. Does the U.S knows how much dollars exist outside the U.S? How?

They probably have a good Clue on the big ammounts. How? How could they not have? If they sold USD currency to someone they probably remember it. If they sell to someone who sells it to Third person their intel probably pick it up if its a big amount. With NSA nothing gets under or above the radar anyway. + BIS, WB, IMF and all those gangster Clubs probably do most of the dealings and that info im sure the US can easily get their hands on just by asking.


3. Can foreign banks give (fractional reserve) credit (loan) in U.S dollars?

To who? Private, Company or to the Foreign state? To the states yes. I mean, doesn't the poor countries borrow USDs from their WB/IMF Connected Central banks? Isn't that giving credit in USD?


4. How the world accounting and International wire transfer works? (Something like SWIFT)

I'm as uneducated about this as you so Reading this reply was probably a Waste of time 


Very interesting subject though. I think the fall of the dollar will be blamed on Russian/Chinese currency warfare. As said im not sure what locking a bank out of the dollar exactly means but if it means that russia cannot buy any more dollars then they just beat Putin to HIS next move and tried to Call it an event in their favour, which is impossibly can be.

Bank Rossiya, Kremlin's favoured bank, to be 'frozen out of the dollar'
http://www.theguardian.com/world/2014/mar/20/crimea-crisis-kremlin-bank-frozen-out-dollar

1. The question is how is it possible to control a dollar account of a foreign banks?
2. Does the U.S knows how much dollars exist outside the U.S? How?
3. Can foreign banks give (fractional reserve) credit (loan) in U.S dollars?
4. How the world accounting and International wire transfer works? (Something like SWIFT)

In a similar topic, European bitcoin exchange,  Kraken, says that it prefers international investors (non U.S) to work more with Euro than the U.S dollars,  as American banks make problems and delay their transactions.