It does seem the biggest consequence of this war will be the US confiscating Russian dollar assets and scaring everyone else, from the Chinese, to the Saudis, that the political and the economic are no longer separate. We have traded away our economic foundations, in order to essentially live in compounding debt to the rest of the world and acted like mafia to enforce it.

When the turn comes and it looks like it is starting, it will be sudden and hard. Too many voices, even in the US, are starting to comment.

The betas sense the alpha is weak.