On: El Salvador’s Experiment with Bitcoin as Legal Ten...

[daemoens]

While all this is true, his point still stands. The US still has the ability to seize your country's money at will.

[ForHackernews → daemoens]

...if you keep it in US banks (because you can't trust your own corrupt local financial system).

[anonporridge → ForHackernews]

Almost all USD now is electronic, and control of movement of those dollars is entirely controlled by the single master node of Washington D.C.

Russia defaulted on their USD loans, not because they don't have dollars, but because the US won't allow them to pay.

[giaour → anonporridge]

Russia also defaulted because it can't pay (in any currency) parties that are barred by sanctions from transacting with the Russian government. It wouldn't matter if Russia were able to ship paper USD to their creditors; the creditors cannot accept that payment.