Why Americans shouldn’t be happy that they suspended Russian operations.
Yes, they can do it to anyone they want with “unacceptable” opinions.
3 thoughts on “Mastercard And Visa”
Comments are closed.
Why Americans shouldn’t be happy that they suspended Russian operations.
Yes, they can do it to anyone they want with “unacceptable” opinions.
Comments are closed.
Yep, I had the same thought when I heard the news. Freezing assets and blocking credit is just confiscation of property without due process. Once it becomes common place, the next step to keep it unblocked is to earn social credit by behaving as your leaders tell you.
If you missed what happened to anyone in DC on Jan 6, or Canada going Trudeau, yes the Visa/Mastercard move is more supporting evidence that any money in banks is only yours at the grace of whomever is in power. Eventually everyone knows someone who falls out of that grace, prepare accordingly.
It’s looking more like this war is a small part about Ukraine and a whole lot about much of Asia removing itself from the petrodollar standard. The west seems to be playing into it wholeheartedly with moves like this. It’s not clear yet if that is intentional – using dollar debt as the basis of all world currencies has probably been a net negative for us since the fall of the USSR and definitely since China entered the WTO. This might just be a convenient excuse to finally cut the cord.
On the other hand I’m probably giving our leaders too much credit. After the last decade or so it seems more likely they saw a chance for empty virtue signalling at little immediate risk to their careers, and couldn’t help themselves.