seems like legitimizing the outright theft of foreign assets is going to give billionaires around the world some second thoughts about the security of their dollars held in u.s. banks
Nobody with a functioning brain is going to keep any significant money in the western financial system going forward.
Nobody with a functioning brain
This still leaves a surprising number of people
Oh no losing access to economies that are going into a deep recession, how horrible. Meanwhile, western capital will quickly find its way to places like China where there is actual economic growth happening. Which in fact is already happening https://english.news.cn/20240411/07321170aa0944d4a588a4de0d8beac2/c.html
This really only applies to adversary nations, specifically those committing war crimes.
Are you really complaining about Russian oligarch billionaires having their foreign assets seized? Whatever happened to ‘eat the rich’? 🤣
No, the point is that this move undermines western financial system because billionaires all over the world will realize that if they or the government of their country runs afoul of the west, then their assets will be stolen. Meanwhile, freezing and seizing the assets of Russian billionaires amounts to the west doing capital controls for Russia. This would’ve been a very unpopular move if the Russian government imposed such controls, but the west decided to helpfully do that themselves. This forced Russian oligarchs to invest domestically resulting in Russian economy growing faster than the west now.
I mean, many US states/cities already do forfeitures, so applying this to foreign individuals and entities is just… consistent??
No defending Russian capitalists here, I want them all to be stripped of their wealth and the whole Russian state dismantled and replaced by a democratic socialist one. Those rich Russians should be eaten.
But the fact that the Russian state currently is letting their money get stolen (which they knew would happen when they started this war, and those capitalists knew would happen when Russia started this war, which is why they were begging to avoid it) shows that they aren’t oligarchs.
Only the countries stealing this money has oligarchs. And this is also evident by the fact that the money is getting stolen, since it’s hurting western governmental institutions. The world’s trust in the western system is being traded for more money to the capitalists.
“Unlock” aka just steal like we did Afghanistan’s emergency fund. Well, if the US government wants to speedrun de-dollarization by demonstrating to the world why you shouldn’t bank with them, I’m not gonna interrupt them while they do it.
Pretty sure there’s a word for reallocating someone else’s shit without their permission.
‘Civil Asset Forfeiture’ and it’s a good thing it’s finally being applied to some oligarchs.
Here’s how Ukraine can still win
A day over a hundred years in the past that has no modern relevance. This is just the pigeonhole principle in action. If we avoided doing anything on a day where a villainous person did something vaguely of note, there would be no days left to do anything.
This is the most American comment ever. Truly a nation of people with zero historical perspective.
I’m so glad they finally did it because we’ll finally be able to put the narrative that Ukraine is losing because additional 61 billions wasn’t allocated to bed.
It will also destroy the last credibility US financial system have, piss off Russian capitalists and make them invest in the west even less. Win/win/win.
Worse part is that will give maidan regime some more time to push even more Ukrainians into the grinder.
Russia’s GDP is dwarfed by the West. If Russian investors weren’t put off by having assets frozen when Russia invaded Ukraine in 2022, they’re unlikely to care about some more weapons. After all, the Russian people have seen many years of conflict. The rich are going to care about their hoards, not about the “special military operation.”
The rich are going to care about their hoards, not about the “special military operation.”
Then why is Ukraine losing?
If Russian investors weren’t put off by having assets frozen when Russia invaded Ukraine in 2022
They already were, why they would even put more money there when they are getting frozen, but as long as their funds are only frozen, they could still have hope that the entire issue gonna get resolved one day and they will get it back. If the money get confiscated, that’s entire another situation.
Russia’s GDP is dwarfed by the West
Muh GDP!
The Russian capitalists did hate this. This war is incredibly unpopular among Russian capitalists.
What PolandIsAStateOfMind is saying is that among those who were on the west’s side while still living within the Russian economic system, more than before will flip to embracing Russian finance, because their money will be irretrievable lost to western thievery. As long as the money hasn’t been spent, there’s a possibility that they’ll stick to liberal principles of private property. That means returning the money after the war. It’s naïve because the west already stole Afghanistan’s money as retaliation for Afghanistan winning the war against the USA.
But some Russian capitalists might’ve been holding out upon the belief that the west’s racism was why they would steal Afghanistan’s money, but not do the same to white and west-worshipping capitalists oppressed by Russia’s state-oriented actions.
Two years, hundreds of thousands of casualties, tens of thousands of equipment losses and burning through Russia’s future generation and financial reserve
‘Winning’.
Imagine still guzzling propaganda uncritically after two whole years. If any of this was true, Russia would’ve collapsed long ago as the west was hoping.
Fuck russia
