Good brand names are always the flagship of a successful campaign. And so the USA and the Europeans agree to call the bonds to finance the war in Ukraine peace bonds. This is particularly easy to sell to the thoroughly propagandized Europeans. The collateral for these bonds will initially be the profits from the confiscated Russian assets, which are currently held by euroclear in Belgium. This decision is also likely to be the death knell of Euroclear in the long term. International financial flows function on the basis of trust. This is likely to be destroyed once and for all. The next step will probably be the partial and then final expropriation of Russian assetsInternational financial flows work on the basis of trust, which is now likely to be destroyed for good. The European Union is bankrupt, we know what the state of American finances is. It is the next step that seems inevitable.