Russian invasion of Ukraine

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Brommers in reply to @greentricky

Sets a really shitty precedent and potentially leads to countries withdrawing their money for fear it is no longer safe in Central Banks.

I'd say it sets a pretty good precedent. Invade your neighbours and you lose your cash. After all, where else are they going to put their money? Bitcoin?

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greentricky in reply to @Brommers

The argument against is why would you leave your money exposed going forwards if you know a handful of countries can freeze it on a whim

I agree it is potentially a good thing to do in this case but putting forward the argument for why it hasn't been used before and it has the potential to have an extremely detrimental impact on everyday citizens

See the Afghan example
https://abcnews.go.com/US/wireStory/chief-warns-millions-afghans-verge-death-82247628

https://www.bloomberg.com/opinion/articles/2022-02-13/biden-s-decision-on-afghanistan-s-7-billion-in-foreign-reserves-is-cruel

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