Quote from: Siegfried on April 22, 2014, 01:39:38 AM

Quote from: Kiwigoeswest on April 22, 2014, 01:23:07 AM

Lol, V Putin can easily holds his assets in one of the Russian based banks. He even open account in a bank that was sanctioned and now this bank said they are going to operate in rubbles only. China and Russia are about to topple dollar and they are likely to promote yuan and rubble.

Putin was not the best example. A better one would have been an oligarch who has to fear not only U.S. sanctions but Putin himself.

Yes, Putin just happens to be in the spotlight in a way that will get other elite thinking about the likelihood of their own wealth being seized.

But I wouldn't actually say he's that bad of an example either. Putin can continue to hold his ruble assets in Russian banks. But I believe a lot of other financial assets could still be targeted. This is over my pay grade, but I think USD moved into Russian banks could be frozen by sanctions affecting the bank's access to the SWIFT network, correct? If you don't have access to SWIFT, I think you are limited to trading physical US $100 dollar bills and old US treasury bearer bonds (which the US stopped selling in 1982 "because their anonymous nature made them a haven for tax evaders").