The extra-territorial use of regulatory and tax powers – particularly by the US, which has the added advantage of issuing the world’s preeminent reserve currency – is reinforcing the view that currencies can be wielded as weapons. For example, the US has effectively balkanized global banking by requiring all foreign banks operating there to become subsidiary companies and requiring international banks with US-dollar clearing accounts to comply fully with US tax, regulatory, and even, to some degree, foreign policy (for example, refraining from trading with US enemies).
监管和税收权的超国界使用正在强化一个观点，即货币也可以成为武器。比如，美国由于发行世界主要储备货币而获得了额外的优势，而美国正要求所有在美经营的外国银行采取子公司的形式，并要求有美元清算账户的国际银行完全遵守美国的税收、监管甚至在某种程度上外交政策（比如不与美国的敌人做贸易），这实际上造成了全球银行业的分裂。