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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 8 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.

archived https://archive.ph/LAc9J

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[–] context@hexbear.net 31 points 8 months ago

yeah it's hard to maintain a global capitalist empire if capital isn't free to move around the globe

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