Confidence in EU and US Govts and their full faith and credit seems to be wavering
Federal finances rely on Wall Street.
The finances of over a hundred million residents of the US rely on federal finances.
China will be happy to take the world’s deposits, no questions asked.
And guaranteed to be returned.
Who owns the freezer where the “frozen assets” are kept?
Why should this retired American even bother?
Just more good news for gold and silver, tbh.
In a way I hope they do it just so they can show their untrustworthiness. The reason I don’t want them to do it is that it will be a lifeline for Zelensky and a cash infusion into his personal fortune. At the same time it will prolong the war. I think the fact that EU is willing to replace their own population with hostile Islamists shows that they would have no hesitation to kill as many Ukrainians as it would take to keep the war going.
The Euro’s seem to have dodged this issue for now.
Why can’t the Euro’s legislate asset seizure only being permissible in a few certain cases:
1) Massive fraud involving the assets.
2) Attempt to annex land of another country by military force.
And so on - in each case, the EU will have to decide on the effects of such rules on potential investment money vs. encouragement of good behavior. Then stick to those guidelines.
??
Consider the Wall Street example. If Dave commits fraud on Wall Street, is found guilty / fined, and the fine is greater than cash he can come up with, his assets (at least to make up the difference) after due process can be seized, no?
As aside, I was looking at some estimates of cost of this war including “future fallout”, economic disruptions, lost or displaced productivity, etc., out to around 2035 or so, a few days ago. Nobody seemed to really have a comprehensive answer (I should have saved some links anyway!), but I’d guess the total cost to Europe (including Ukraine) will easily exceed $5 trillion, and will probably go over $10 trillion — if it ends this year.
As former President Eisenhower said, “It’s an expensive business.”
Confidence in EU and US Govts and their full faith and credit seems to be wavering