Government Confiscation

Not by who’d we normally suspect.

It’s being done by the United States government.

(Civil) forfeiture has been part of Biden’s business since he has been a senator when the introduced the Comprehensive Forfeiture Act in 1983.

The U.S. can confiscate assets of Russian nationals. (up to $30 billion at last count)

They can tell American and semiconductor companies abroad to stop doing business with Chinese corporations.

A new report from the Attorney General’s office proposes the ability to seize cryptocurrencies which doesn’t require a conviction or even criminal charges to be filed.

Now they want (to seize some of the) profits from oil companies.

‘Zero emissions Biden’ wants Big Oil to produce more of the stuff while he is draining the Strategic Petroleum Reserve and when they don’t acquiesce to his production requests, he now ostracises them and wants part of their profits.

You can’t make this stuff up !

Exxon’s $18 billion profit from this past quarter must be salivating to the Fed’s seeing that they have sent $17 billion in ‘aid’ to Ukraine.

After all, the U.S. could have tempered the risk of Russia invading Ukraine except Mr Blinken triggered something when he said that NATO entry to Ukraine is always open.

Through confiscation, they may be able to cover the estimated $300 billion (over the next decade) cost of student debt foregiveness.

They have confiscated land from families to be used for U.S./Mexico border wall construction.

Look up ’eminent domain’.

There are many more examples of domestic and international confiscation that been conducted, let alone corporate standovers.

Beyond this being a political observation and comment, within it lies investing ideas and opportunities.

If you are a Chinese national who owns real estate in California, Seattle or Vancouver, one may consider selling and moving your money back to (a cheaper and beneficially weaker) Chinese Yuan.

They may find better asset protection in their own country rather than anywhere else.

Should an Indian national who owns assets in United Kingdom become nervous should his government buy much more oil from Russia?

Incidentally, the Swiss have been freezing Russian assets.

The (neutral) Swiss !!

Putting xenophobia aside, I can understand the suggestion for U.S. exchanges to delist Chinese companies for not being transparent about their audit and their books……but the U.S. can’t even manage to have a former President present his tax returns.

The bully in the room has been gaslighting many to believe that ‘others’ are the oppressors when it’s actually them.

All of this and they can’t manage to confiscate guns?

Votes !

Happy mid-term elections everyone.

November 1, 2022

by Rob Zdravevski

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