Capital Controls Are Coming

‘The carnage always comes by surprise, often on an otherwise ordinary Saturday morning…

The government declares a surprise bank holiday. It shuts all the banks. It imposes capital controls to stop citizens from taking their money out of the country. Cash-sniffing dogs, which make drug-sniffing dogs look friendly, show up at airports.

At that point, the government is free to help itself to as much of the country’s wealth as it wants. It’s an all-you-can-steal buffet.’

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