https://void.cat/d/FihPUAaAa3ffjAXgza21yr.webp

ttps://web.archive.org/web/20231222055323/https://www.nytimes.com/2023/12/21/us/politics/russian-assets-ukraine.html

Gustav: As I am visiting the Christmas Markets, I am wondering what would happen if a country froze and then seized Norwegian Assets. Could I afford to buy anything here? Could the merchants come out and set up their stalls?

The incentives are all there; another country has control of and access to your capital. They gain, and you lose. Countries' relationships constantly change. DeGaulle said, "Countries don't have friends, only interests."

Even among enemies, this type of thing is generally forbidden. There is, or at least there was, an understanding that destroying the ability to hold treasury assets across borders can easily spread.

Arguments to return to a gold standard should take this into account. Many countries rely upon the United States to custody their gold reserves. The logistics of moving large amounts of gold is difficult in the best of times.

Yet another use case for Bitcoin.

#bitcoin #planb #treasuryreserve #globalfinance #russia

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