Hong Kong leader has no bank account

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Forums › Finance and wealth management › Hong Kong leader has no bank account

Batman

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#280281 5-Dec-2020 23:00

apparently banks won't deal with her - ???

guess where she stores a cash - no cheating!

https://edition.cnn.com/2020/11/30/business/hong-kong-carrie-lam-cash-intl-hnk/index.html

Batman

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#2616820 5-Dec-2020 23:01

and bcos of that? -> https://edition.cnn.com/2020/12/04/economy/china-digital-yuan-currency-intl-hnk/index.html

Scott3

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#2616831 6-Dec-2020 00:23

Yip. She is sanctioned by the US for "undermining Hong Kong’s autonomy and restricting the freedom of expression or assembly of the citizens of Hong Kong"

https://home.treasury.gov/news/press-releases/sm1088

USA has the worlds primary currency, the USD. I short, banks can't provide services to Lam without loosing access to US based financial services, especially the SWIFT system for international transfers.

I this case I support the sanctions, however it is chilling how much power the USA has in such matters.

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#2616841 6-Dec-2020 07:47

Scott3:

Yip. She is sanctioned by the US for "undermining Hong Kong’s autonomy and restricting the freedom of expression or assembly of the citizens of Hong Kong"

https://home.treasury.gov/news/press-releases/sm1088

USA has the worlds primary currency, the USD. I short, banks can't provide services to Lam without loosing access to US based financial services, especially the SWIFT system for international transfers.

I this case I support the sanctions, however it is chilling how much power the USA has in such matters.

Presumably even banks in mainland China dare not touch her, otherwise she wouldn't be needing to be stashing cash.