Dear gods, I am sending you a piece by Paul Krugman. Have I lost my mind, if not my soul?

Hardly. Read this as a warning. He sympathizes with capital controls. Note that this thinking is penetrating the halls of “respectability.”  This is a most dangerous path. It's a slowly evolving one, as he points out, but it's not one we will like. Not good for capital and choices, much less diversification.