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Originally Posted by woj
of course there would be some work arounds, but thinking that all that would need to happen is to "bounce wires through some South American nation" is a fantasy too...
do you grasp the volume of it? it's millions of people in the US sending to millions of people in Mexico... generating 100s of millions of transactions per year... setting up and operating such an operation without getting caught would be pretty damn difficult... certainly beyond the scope of some low lives whose main expertise is drug dealing...
and I think you are mistaken about the impact... imagine Cruz comes out and says "we need to choke off the porn industry, we'll do that by banning credit card transactions on porn sites"... how do you think that would play out? Would porn industry be completely fucked? or do you think some work around like bitcoins would be realistic?
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10 years ago WU charged arm and leg for wire transfers so every immigrant community had unlicensed money transfer businesses. They used to bust them all the time in Miami. Rodrigo comes to Pepe and hands him $1000, who calls his dad in Durango. Rodrigo's mom comes to Pepe dad's house and picks up the money. Once a month Pepe sends huge wire to daddy to pay out customers next month. And there are hundreds of Pepes out there.