[walrus01]

> as Afghanistan ($7B seized)

This is because the Taliban is a terrorist organization that captured the capitol, not a government. You don't give $7bn to al qaeda, ISIS or lashkar-e-taiba either.

You can thank Trump and Pompeo and their plan to withdraw 100% of US forces by a fixed deadline for that (removing all support for the afghan government's armed forces), and Biden for going along with the foolish plan.

[anonporridge]

I really don't want to defend the Taliban, but the core of any government is the group that maintains a monopoly on violence in a realm.

The pre-Taliban government of Afghanistan as well as the US puppet state in 2021 failed in this core responsibility, and consequently lost the right to govern. Whether or not the Taliban will produce a stable or good government is a different question. I personally weep for those forced to live under it's rule.

It would make about as much sense to say the United States in 1783 was not a government, but a terrorist organization that attacked the rightful British government of the American colonies. The British lost the right to govern when they failed to maintain their monopoly on violence in the American colonies, and a new governmental organization formed from the ashes of the war that proved it.

[pessimizer]

The Taliban is not a terrorist organization. The Taliban was the government of the country of Afghanistan before we invaded it, and it is the government of the country of Afghanistan after we've left. "Terrorism" isn't a euphemism for killing US soldiers. If they're invading your country, the proper word is "patriotism."

[ceejayoz]

The Taliban is both. I agree that killing invading foreign soldiers on your own soil isn't terrorism, but that's not where the Taliban stops. Plenty of attacks on their own populace over the last two decades.

[daemoens]

While all this is true, his point still stands. The US still has the ability to seize your country's money at will.

[ForHackernews]

...if you keep it in US banks (because you can't trust your own corrupt local financial system).

[anonporridge]

Almost all USD now is electronic, and control of movement of those dollars is entirely controlled by the single master node of Washington D.C.

Russia defaulted on their USD loans, not because they don't have dollars, but because the US won't allow them to pay.

[giaour]

Russia also defaulted because it can't pay (in any currency) parties that are barred by sanctions from transacting with the Russian government. It wouldn't matter if Russia were able to ship paper USD to their creditors; the creditors cannot accept that payment.

[guelo]

I would also blame Trump's relentless political attacks about Obama returning Iran's assets. And Biden's political cowardice after the Afghan collapse. All of it is reducing trust in US's supposed rules-based institutions. US is speedrunning through the fall of an empire

[daemoens]

Calm down with the theatrics. Money continues to flow into the US during this current crisis because the US is still seen as the most stable place in the world. Rich people around the world wouldn't be rushing to park their money here if they thought the US was going to collapse.