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LSDefine

Simple English definitions for legal terms

blocked currency

Read a random definition: tools of trade

A quick definition of blocked currency:

Blocked currency is money that can only be used within the country where it is located, due to government restrictions. It is like having money that can only be spent in one store. This is different from national currency, which is approved by a government and can be used as a medium of exchange. Soft currency is not backed by reserves and can fluctuate in value, while hard currency is backed by reserves, such as gold and silver. Fractional currency is paper money worth less than one dollar, and current-cost accounting is a way of measuring assets in terms of replacement cost.

A more thorough explanation:

Definition: Currency or bank deposits that are restricted by the government and can only be used within the country where they are located.

Examples:

  • During times of political unrest, a government may block the currency to prevent citizens from taking their money out of the country.
  • Foreign companies operating in a country may have their profits blocked and unable to be transferred out of the country due to government restrictions.

The examples illustrate how blocked currency is a form of government control over the flow of money in and out of a country. It can be used as a tool to stabilize the economy or prevent capital flight during times of crisis.

blocked account | blocked income

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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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