by Karl Denninger
Market-Ticker.org
What did I say when Trump first put forward The Wall for Mexico, and Mexico said “we won’t pay”?
I said the solution is simple: Cut off remittances.
In the memo, Trump said he would threaten to change a rule under the USA Patriot Act antiterrorism law to cut off a portion of the funds sent to Mexico through money transfers, commonly known as remittances. The threat would be withdrawn if Mexico made “a one-time payment of $5-10 billion” to pay for the border wall, he wrote.