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.
In cobol nonetheless.
Either that or a literal Excel spreadsheet.