The blame and preemption games begin after UVDL made a smash grab run (of course offering bond IOUs which Ukraine would need to repay) on Russian assets currently frozen and held in Brussel banks and elsewhere. Checking move from Lagarde (worried no doubt of the baseline of trust being lost in EU banking entities) to prevent a run on withdrawals by countries other than Russia observing the raid on Russian assets. https://x.com/ivan_8848/status/1996347521581593020?s=20 and this is UVDL’s approach https://x.com/Mylovanov/status/1996325508439478576?s=20
What, you mean foreign big boys won’t park their billions in your banks if they know the government can seize their assets overnight?? (Honestly, I’m shocked if Lagarde has the mental horsepower to figure that out. Maybe somebody tipped her off.)
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Yep, intellect, competence and experience are not dependent factors, relationships with donors, nepotism, past disasters and the Peter principle is how it is done. Then there is consensual tolerance, survivalist mindset within that bubble that preserves the advantage and continuity. Like hypertension it is very much a disease of the West The Peter Principle: A Theory of Decline | Stanford Graduate School of Business
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