Basically what it comes down to is that this move will completely destroy trust in western financial system. If the west starts seizing foreign assets without any legal basis, then keeping money in western banks starts being a huge risk.
archived https://archive.ph/LAc9J
I’d assume they severely damaged their credibility by “freezing” (definitely not theft) Russia’s $300 billion at the end of February 2022; might as well destroy it completely 🫡
That’s very true, the whole freezing business would’ve been ringing alarm bells for anybody who has significant assets in the western system already.