When Russia invaded Ukraine, the world came together and weaponized the financial system against Vladimir Putin and his close associates. The problem, according to Louis-Vincent Gave, is that in freezing the assets of Russian oligarchs, the legal system that protects all of us is undermined. And it’s “very hard to put Humpty Dumpty back together again,” says Gave, the CEO of Gavekal Research. The rules have changed, making it difficult for investors to deploy capital. Gave joins Jared Dillian, the editor of the Dirtnap, to discuss the consequences of war in Eastern Europe, including the acceleration of deglobalization as well as the onset of what look now to be permanently high energy prices. Recorded on April 19, 2022.