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submitted 10 months ago by yogthos@lemmygrad.ml to c/us_news@lemmygrad.ml

Basically what it comes down to is that this move will completely destroy trust in western financial system. If the west starts seizing foreign assets without any legal basis, then keeping money in western banks starts being a huge risk.

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[-] yogthos@lemmygrad.ml 13 points 9 months ago

I think that's going to happen at some point as well. This is especially likely if the economy starts going into a nose dive as is looking increasingly likely. US has shown that it absolutely doesn't give a shit about the interests of its allies by continuously screwing Europe over the past two years. If push comes to shove, there's no question that US will fuck everyone else over if there's a chance of stabilizing US economy that way.

Of course, everybody can see where this is going and I'm expecting that any countries that haven't been completely vassalized will be trying to pull their assets out of US financial system. China's already doing this fairly openly, and I expect other countries will follow suit in short order. And of course, if this turns into a run on the bank, then that could be precisely what triggers US to appropriate the assets it still controls.

this post was submitted on 27 Dec 2023
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