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mister--wizard
npub1w7x…97as
2023-03-02 16:26:17
in reply to nevent1q…lu4u

mister--wizard on Nostr: Language is funny. US imposing "sanctions" on Russia = US "seizes" Russians assets ...

Language is funny. US imposing "sanctions" on Russia = US "seizes" Russians assets including Treasury Notes and other US bonds. "Buying" a bond is another way of saying you're lending the bond-issuer money. So when the US "seizes" Russian assets what it's really saying is it's defaulting (reneging) on its debt obligations to Russia. Russians can lend US money but US has decided it doesn't need to pay Russia back. That's a trick that only works once. You can't do that and expect to remain the steward of the world's reserve currency for long.
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