European countries aren’t worried that China will conquer the U.S. and they’d lose access to their gold because a hostile Chinese government controls it.
The increased risk is that the U.S. was considered basically risk free for allies, and now the U.S. isn’t considered risk free anymore and allied status is also at risk.
If a government is willing to go after the property of its own citizens without due process, foreign investors have to think: "What's to stop the same from happening to me?" Even if that foreign investor's a central bank.
[1] https://www.bitsaboutmoney.com/archive/debanking-and-debunki...
[2] Maybe the truckers' protest went too far; they were blocking roads. The point isn't whether they deserved to be punished; the point is that their accounts were frozen without going through the laws and court system.
[3] This was in 2022, so it has nothing to do with the current US administration.
These were not "protests", they were a sustained attempt to appeal to the wrong level of government for policies of a foreign government by a bunch of people who were riled up on the internet. Highlights included nazi flags, guns, harassing and threatening women and local residents, etc.
what is most telling is that when you search for commentary about the Canadian federal government freezing bank accounts, a significant portion of links are from reactionary, right wing websites.
> whereas Venezuela has experienced severe political authoritarianism and a deep, multi-year economic collapse, and a massive humanitarian exodus of millions of citizens
none of which has been resolved by the US violently removing their leader and taking over their oil