You know it has to be a monumentally dumb idea when even Bloomberg says that seizing Russia’s Central Bank funds is illegal and unwise (www.bloomberg.com)

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

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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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[-] 201dberg@lemmygrad.ml 24 points 10 months ago

At what point do you think the US just lays claim to all the gold we store for other countries? I figure it'll happen eventually. There were already hedge funds not letting their investors pull money out the past few years. Basically holding their money hostage, and that was like, oligarch money. It's been fun watching them start to eat each other.

[-] WaterBowlSlime@lemmygrad.ml 10 points 10 months ago

The US already did that with Afghanistan didn't they? The US froze their central bank reserves and then chose how to spend it for them.

[-] 201dberg@lemmygrad.ml 10 points 10 months ago

I know that they stole the gold that was actually IN Afghanistan. Just broke in and took it. Did Afghanistan also have gold reserves already in the US as well? I wonder how many countries would like to take their gold back but know if they tried the US would just seize it. At this point the US is probably already just holding it all hostage.

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this post was submitted on 27 Dec 2023

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