Riyadh denied the Bloomberg report, saying it did not threaten to sell euro and French bonds as a way to influence the G7 into not seizing $280 billion of Russia’s frozen assets.
Again: do it. The sooner we can cast off the yoke of the Middle East's hold on our power generation via oil, the better. Things like this can only accellerate the process: good. Keep it up and accellerate even more.
True, but I'm only talking about specifically cutting ties with the M..E (gradually) and transitioning to a green energy model ASAP, not about the wider political implications.
I know that no one is actually serious when they say this, but I think all it would take would be one.
If we just drag Bezos or Musk out in the streets and have an actual barbecue with them I feel like the rest would start to support a wealth tax pretty fucking quickly.
Money is not true value, currency is a placeholder for true value that is used to facilitate trade. Rich people are worth less than the profits they extract from coordinating labor. But they extract enough to think they're still better than those they exploit.
Sell to whom? Do Euro bonds work differently than in the US?
You can sell bonds in the US and it's only slightly different from selling a stock. The bond changes hands, but the government debt and interest payments remain static. (The buyer and seller get to deal with premium/discounts and accrued interest, but that has zero effect on the underlying debt from the issuing government)
I don't understand why this would be a bad thing for them to sell.
If the Saudis disinvested from the dollar and started selling oil in yuan, it would severely weaken US soft power around the world. At the same time, seizing the assets would remove a bargaining chip from potential peace talks. And those assets likely wouldn't be enough for Ukraine to win anyway.
Turns out when you steal other countries' assets (as with Venezuela), other countries stop trusting you with their money and start trusting other countries (like China) with it instead. If they wanna speedrun losing a second cold war, that's the way to go.