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> One option is SWIFT system. Which Russia got excluded in some capacity from. As such it is clear that system cannot be trusted. That is quite a leap. Russia

by giaour 4y ago

> One option is SWIFT system. Which Russia got excluded in some capacity from. As such it is clear that system cannot be trusted. That is quite a leap. Russia was also excluded from the NY stock exchange due to the ongoing sanctions; does that mean we can no longer trust stocks bought and sold there?

988747 4y ago
Yes, it does at least for those of us who are not US citizens. You can never be sure that one day the US won't sanction your home country in the same way, for some weird reason. Of course for some countries the risk is greater than for others, but still, it's a good reason to avoid US financial markets.
- giaour 4y ago
  All financial markets participate in sanctions, so taking this absolute stance would limit the negotiable instruments available to you to briefcases full of gold or cryptocurrency.
  - pessimizer 4y ago
    > All financial markets participate in sanctions You're using the law of averages. Not all financial markets participate in the same sanctions to the same extent at the same time, which means that the decision about where to invest can be important. > taking this absolute stance You're the one characterizing this as an absolute stance, rather than a practical stance related to the current condition of the markets of the most powerful country that demands the most sanctions.
    - giaour 4y ago
      > You're using the law of averages. No, GP claimed that enforcement of any sanctions in international transfers means that the whole system can’t be trusted. > You're the one characterizing this as an absolute stance, rather than a practical stance related to the current condition of the markets of the most powerful country that demands the most sanctions. The original argument I was responding to claimed that one could not use financial institutions that participate in SWIFT. If you want to claim that’s a moderate, reasoned position, then ¯\_(ツ)_/¯

by giaour 4y ago

988747 4y ago

Yes, it does at least for those of us who are not US citizens. You can never be sure that one day the US won't sanction your home country in the same way, for some weird reason. Of course for some countries the risk is greater than for others, but still, it's a good reason to avoid US financial markets.

giaour 4y ago
All financial markets participate in sanctions, so taking this absolute stance would limit the negotiable instruments available to you to briefcases full of gold or cryptocurrency.
- pessimizer 4y ago
  > All financial markets participate in sanctions You're using the law of averages. Not all financial markets participate in the same sanctions to the same extent at the same time, which means that the decision about where to invest can be important. > taking this absolute stance You're the one characterizing this as an absolute stance, rather than a practical stance related to the current condition of the markets of the most powerful country that demands the most sanctions.
  - giaour 4y ago
    > You're using the law of averages. No, GP claimed that enforcement of any sanctions in international transfers means that the whole system can’t be trusted. > You're the one characterizing this as an absolute stance, rather than a practical stance related to the current condition of the markets of the most powerful country that demands the most sanctions. The original argument I was responding to claimed that one could not use financial institutions that participate in SWIFT. If you want to claim that’s a moderate, reasoned position, then ¯\_(ツ)_/¯