Russian oligarchs are moving their property to Dubai according to sources

[troubled soul]

Russian oligarchs are moving their property to Dubai according to sources
https://www.pravda.com.ua/eng/news/2022/03/5/7328498/

 

[Martin Everson]

Watching what is happening is a good opportunity to see what works with modern asset protection. I don't think old world trusts and foundations will work for Russians in this situation. Seems you need physical cash, gold and maybe crypto. If they arbitrarily freeze all your bank assets, cards, portfolio etc you cannot even fund a legal defense .

 

[wonderwhat]

Watching what is happening is a good opportunity to see what works with modern asset protection. I don't think old world trusts and foundations will work for Russians in this situation. Seems you need physical cash, gold and maybe crypto. If they arbitrarily freeze all your bank assets, cards, portfolio etc you cannot even fund a legal defense .

"maybe crypto" ---

There is good chance a new law will force Crypto devs and miners to accept patched software update to allow seizure of coins. There are not a lot of miners as I can see. There are only handful mining pools (majority hash power) and some of them are based in the US. I think cash and gold (maybe diamonds) are the only alternatives here.

 

[RealDude]

How do you transport billions of USD in cash or gold from A to B?

 

[troubled soul]

How do you transport billions of USD in cash or gold from A to B?

Private jet May be ???
Roman Abramovich private jet visited dubai twice in a day




Few month back Afghanistan ex president Ashraf Ghani fled Kabul with USD 169 million in cash. Now having fun in abu dhabi.
https://www.washingtonpost.com/world/2021/10/07/ghani-afghanistan-fled-millions-stolen/

 

[Goodman]

but I think offshore broker and bank accounts are not affected, yet, at least I haven't heard about any offshore (banana island) jurisdiction announcing sanctions on Russian account holders and just checked 1 broker's account opening page and you can open account as Russian right away

 

[troubled soul]

Small "banana republic" broker flew away with your money before USA banned them

 

[Martin Everson]

"maybe crypto" ---

There is good chance a new law will force Crypto devs and miners to accept patched software update to allow seizure of coins. There are not a lot of miners as I can see. There are only handful mining pools (majority hash power) and some of them are based in the US. I think cash and gold (maybe diamonds) are the only alternatives here.

Yup...Thats why I put a clear "maybe" sadly .

End of day everyone outside west should avoid holding their wealth in western situs assets and certainly not in USD if they value asset protection. Even parking money in UK property seems a bad idea these days.

China with its over $1trn in US treasuries ought to know now their US Treasuries will be seized on a whim if they make moves to reunite their rogue province of Taiwan. This also applies to any non-western government holding US or EU assets. The genie is out the bottle with asset confiscation.

We could be witnessing the start of turning point in history and global financial system. Weaponizing the dollar and SWIFT was a step too far in my book. Collective punishment is never a solution to a problem between governments.

 

[Goodman]

Small "banana republic" broker flew away with your money before USA banned them

I'm talking about offshore arms of big reputable brokers, up to date all are working as usual, as I see, just interesting how it will develop. Btw many Australian brokers moved their non resident clients to their offshore entities time ago because regulatory requirements changed, and not only Australian, 1-2 years ago many other heavy regulated jurisdiction's brokers did that

 

[MarieAntoinette]

For asset protection/confiscation: Patek, Rolex, Mene Jewelry. What do you think? (my first post here)

 

[RealDude]

Playing with the idea of investing in a dozen genuine gold AK47s as they are multi-purpose. What do you think about it?

 

[JamesDonkey]

There is good chance a new law will force Crypto devs and miners to accept patched software update to allow seizure of coins. There are not a lot of miners as I can see. There are only handful mining pools (majority hash power) and some of them are based in the US. I think cash and gold (maybe diamonds) are the only alternatives here.

Gibberish.

What proves that "there is a good chance"? Who says so? It can come only from someone who's non technical.



There're thousands of coins, although most of which are crap, and some 200 countries. They'd come to everyone's home and ask them to run a patched software? Well people would abandon that, fork a new coin and that would become what they use. Or rather, new coins.

Or they'd move countries.

If it'd be the same as to require that people had to stop talking and thinking about anyone but Jesus Crist.

I Can't even explain how much of gibberish it is

 

[JackAlabama]

Watching what is happening is a good opportunity to see what works with modern asset protection. I don't think old world trusts and foundations will work for Russians in this situation. Seems you need physical cash, gold and maybe crypto. If they arbitrarily freeze all your bank assets, cards, portfolio etc you cannot even fund a legal defense .

yep, i sadly also believe trusts et. al. will not do the trick and ways will be found similar to "pierce the veil" of corporations.

"maybe crypto" ---

There is good chance a new law will force Crypto devs and miners to accept patched software update to allow seizure of coins. There are not a lot of miners as I can see. There are only handful mining pools (majority hash power) and some of them are based in the US. I think cash and gold (maybe diamonds) are the only alternatives here.

Not easy / impossible to do to do with Bitcoin but with other centralized crypto which follow a clear typical startup corp structure, yes that is possible but it follows similar (useless) efforts banning other decentralized things and activities as these "corps" are working in several countries.

You might think it is as easy as if I patch a database in a bank to get this "patched" software. But it is not like that, due to the decentralized nature. You can read about it with BTC/BSV/BCH dispute in 2017, which were all kind of "patched" version and what happened thereafter.

Solo miners join hash pools for the sake of more steady cashflow it does not mean that these are then centralized, it is just an umbrella.
Even in China, there are still miners as of today. Who would have guessed that

Cash is very bad as it can get cancelled over night.

For asset protection/confiscation: Patek, Rolex, Mene Jewelry. What do you think? (my first post here)

Well, an interesting choice which I think will hold as it falls into category: collectibles

 

[Golden Fleece]

Collective punishment is never a solution to a problem between governments.

Tell that to Russia, which collectively punished every single citizen of Ukraine over its dispute with the government of Ukraine.

And the collective punishment of the confiscation of some wealth from the friends of Putin, who profited immensely off the backs of working Russians, is not the same as the collective punishment through the murder of thousands of innocent civilians in Ukraine.

People need to get some perspective here. Poor Russian oligarchs. Woe is me! They still have their lives.

 

[wonderwhat]

yep, i sadly also believe trusts et. al. will not do the trick and ways will be found similar to "pierce the veil" of corporations.



Not easy / impossible to do to do with Bitcoin but with other centralized crypto which follow a clear typical startup corp structure, yes that is possible but it follows similar (useless) efforts banning other decentralized things and activities as these "corps" are working in several countries.

You might think it is as easy as if I patch a database in a bank to get this "patched" software. But it is not like that, due to the decentralized nature. You can read about it with BTC/BSV/BCH dispute in 2017, which were all kind of "patched" version and what happened thereafter.

Solo miners join hash pools for the sake of more steady cashflow it does not mean that these are then centralized, it is just an umbrella.
Even in China, there are still miners as of today. Who would have guessed that

Cash is very bad as it can get cancelled over night.


Well, an interesting choice which I think will hold as it falls into category: collectibles

Bitcoin is a peer-to-peer network. BCH is not a patch rather a fork. The majority of Bitcoin network is powered by mining pools which follows the usual corporate structure. As such, they are obligated to follow the rule of law.

Nodes mines coins. Node are not Raspberry Pis.

> Bitcoin Core developer Luke Dashjr, claims there are over 47,000 functioning Bitcoin nodes.

These people like to claim that there are 47k nodes to fool governments to think that it's truly decentralized and hard to take down. But in reality, there are only handful nodes and while the most "nodes" being Raspberry Pis which merely propagates blocks and transactions and doesn't mine blocks.

When you show this to them, they will claim that there are 10k nodes but the point is that those 10k nodes are owned by mining pools . You can have a company with 10k machines but it doesn't mean that you have 10k nodes rather 1 big node.

See here, Pool Stats - BTC.com and you will find that there are only 5 nodes with majority hash power.

Apple, Inc is more decentralized compared to Bitcoin, because it has 6068 approx. investors compared to the 5 big Bitcoin nodes ("pools").

The devs attack you when you show them reality. They really want the number goes up style ponzi pyramid scheme.

Bitcoin originally designed to be scale faster than Visa with a base price of $1 but they turned it to something else because the guy who created it posted in the wrong mailing list or he was attacked or the both

Yup...Thats why I put a clear "maybe" sadly .

End of day everyone outside west should avoid holding their wealth in western situs assets and certainly not in USD if they value asset protection. Even parking money in UK property seems a bad idea these days.

China with its over $1trn in US treasuries ought to know now their US Treasuries will be seized on a whim if they make moves to reunite their rogue province of Taiwan. This also applies to any non-western government holding US or EU assets. The genie is out the bottle with asset confiscation.

We could be witnessing the start of turning point in history and global financial system. Weaponizing the dollar and SWIFT was a step too far in my book. Collective punishment is never a solution to a problem between governments.

They can only steal present not future

 

[JamesDonkey]

See here, Pool Stats - BTC.com and you will find that there are only 5 nodes with majority hash power.

Apple, Inc is more decentralized compared to Bitcoin, because it has 6068 approx. investors compared to the 5 big Bitcoin nodes ("pools").

The devs attack you when you show them reality. They really want the number goes up style ponzi pyramid scheme.

Bitcoin originally designed to be scale faster than Visa with a base price of $1 but they turned it to something else because the guy who created it posted in the wrong mailing list or he was attacked or the both

Is Bitcoin the only cryptocurrency in the world?

 

[Martin Everson]

Tell that to Russia, which collectively punished every single citizen of Ukraine over its dispute with the government of Ukraine.

That was Zelensky's ego that punished his citizens also. History is not going to be kind to him also. Peace was an option he refused.

He should have reigned in the Azov neo-nazi's shelling ethnic Russians in Donetsk region that has been going on for years.

 

[wellington]

DOJ recently got access to records of people there under a MOU (assets etc).

 

[kkein]

That was Zelensky's ego that punished his citizens also. History is not going to be kind to him also. Peace was an option he refused.

He should have reigned in the Azov neo-nazi's shelling ethnic Russians in Donetsk region that has been going on for years.

I still believe he has been played or even puppeted.
He showed interest in an agreement in the beginning, but then changed his mind after the Biden call.
He's probably nasty, but not having been in politics that long i think he was refrained to see his people dead.

I wonder what Biden told him. Death treats? I feel that guy would start a termonuclear war to save his son's arse.

 

[Martin Everson]

I still believe he has been played or even puppeted.

This is the sad part. Peace was always an option. Now whatever the outcome Zelensky cannot claim victory when the blood of a single innocent Ukrainian has been spilled and neither can Russia when blood has been spilled.

I wonder what Biden told him. Death treats? I feel that guy would start a termonuclear war to save his son's arse.

US wants only blood and Russian lives lost even if Ukraine has to suffer. That cold war mentality has never ended for US. Only a madman would think US wants peace in Ukraine. There is NO economic value in peace to US anywhere in the world other than on its own doorstep. Just endless wars, stoking existing tensions and division creating fertile grounds for their weapon sells all over the world - Especially to thick as hell Arab nations .

I have no idea what is going on with Bidens son and Ukraine connection in this whole saga now. But US is not looking for a peaceful solution at all it seems. They want to continue to fund and arm Ukrainians to needlessly keep the fire burning. More Ukrainians will throw away their lives on the battlefield in this proxy war. Their families may one day wonder why Zelensky did not choose the peaceful solution once this nationalism buzz wears off.