Tom Luongo [37:37] on why the legal frameworks for confiscation of property rights, securities and cash were put in place in the US, Europe (4 years later) then a Japan (6 years after that) in the 70s:

We have always known that at some point we were going to reach that moment where the cartel was going to start feeding on each other because there was [...] a lack of actual physical assets, and now they are scrambling for physical assets. It’s always about collateral, and they can’t secure the sources of collateral in the same ways that they always have in the past. I’ll put on my evil hat for a second and be them [...].

"Let’s have a fallback plan. The plan is of course we are going to destroy Russia, we are going to split up the Middle East, we are going to take all of their oil and gas and everything else, but if we fail we are going to need a fallback position which is that we are going to have to take all the assets of the people and protect ourselves that way".

They are hedging their risk as well. They are not dumb. #