Ray Dalio believes there is a 35-40% chance the US experiences civil war, though he likely means this metaphorically—increased polarization and geographic self-sorting—rather than literally with guns.

Bernstein advocates that Dalio's risk management approach includes moving assets abroad to hedge against civil unrest and political instability risks.

Roosevelt confiscated gold in the US, though this could be debated as to whether it constitutes major confiscation; more recent examples of major confiscation in the developed world are rare.

The 2021 crypto bull market followed by subsequent collapse caused many retail investors to lose money and become permanently scarred, leading to less retail interest in crypto even after Bitcoin reached new all-time highs, demonstrating lasting psychological damage from losses.