By Teeka Tiwari, editor, Palm Beach Daily
Recent geopolitical events have made one thing obvious: Western governments can seize all your assets… even if you’re part of the traditional financial system.
Just days after Russian tanks rolled into Ukraine, the United States and its allies sanctioned the country’s central bank.
They froze about $600 billion worth of Russia’s foreign currency reserves.
These reserves aren’t piles of cash sitting in Moscow vaults… Most of them are electronic balances in commercial and central bank accounts in the U.S. and other Western nations.
The U.S. dollar is the world’s reserve currency. And Washington controls the dollar-based financial system.
If you want to use that system, you have to play by Washington’s rules.