this post was submitted on 23 Nov 2023
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How do those companies pay these gigantic fine? $4 billion wire transfer? Does the bank even allow wiring that huge amount of money? Monthly Installment? Trucks carrying palettes of money?
The balance is kept at a bank and the banks have ledgers with the reserve bank who in turn adds $40B to the asset column and negates $40B from the liabilities column. That's the basic version. Nothing changes hands per se. It's just 1s and 0s on a computer.
My bank only allows like $2 million dollars online wire transfer per day on their corporate account. Transferring billions would probably requires you to meet with your bank's account manager?
I'm guessing if you have to pay the government, you can get government approval.