David Frum

David Frum @davidfrum

The Q: "is there not a danger that the west's willingness to weaponize the financial system may erode the confidence of other powers, esp autocracies (China, most obviously), in their currencies, that in the long run they may seek an alternative not dependent on the west?" 2/x — PolitiTweet.org

David Frum @davidfrum

The answer: An authoritarian regime can for sure achieve financial independence if it's willing to seal itself off from the world. Stalin's USSR, Mao's China were more or less invulnerable to central bank sanctions. They were also desperately poor and horrifically repressive 3/x — PolitiTweet.org