The ‘great expropriation’ will come to be regarded as a turning point — one which the great powers of the world will likely regret.
The recent act of “the West” — governments and central bankers in league and in unison — to expropriate what Biden called “Putin’s $630 billion war fund” is really off the charts by way of economic warfare, something that just wasn’t done in the 18th and 19th centuries, even in terrible extremities. Debts were paid, even to cretins. The reputation for trustworthiness was the banker’s most precious asset, and it became the creed of nations. Only by an authoritative legal process, governed by the law of nations, might someone else get their hands on your stash.
The commentariat is oblivious to what would have been the first thought of people from these distant ages. The commentariat is like, hey, it’s the 21st century and we control the pixels and we’ll deal with the consequences later.
Cassandra would like to say in reply: the Great Expropriation will come to be regarded as the financial equivalent of Operation Barbarossa, which sowed terror in all that lay in its path but which created through overextension and hubris the basis for its subsequent reversal. Our leaders, our “oligarchs,” have not necessarily shot themselves in the foot with these measures, but they have definitely shot their peoples in the foot, and they do not seem to care.
https://responsibles...es-of-the-game/
What I mean by the end game is the end of global dollarization trade. The world is splitting into a EAST-West divide. The western markets are grossly overvalued: valuations need to reflect slow down of globalization and demise of the Dollar as a reserve currency.
Edited by linrom1, 24 March 2022 - 10:50 AM.
