They can't freeze it all. It is spread out and a good chunk of it is in physical gold. They froze a large chunk of it. There's probably an analysis out if you google it but the point is they will still have money to prop up the rouble.
In essence surely physical gold is worthless. It only has a worth if someone is willing to pay for it. With all the sanctions and general negativity towards Russia, I can't see how they'd even raise some money from selling the gold.
+ Giving it to the Russian people in lieu of the ruble is hardly going to go down well.
Did Putin just simply miscalculate massively here?
I get the impression that A. He wasn't expecting Ukraine to put up such a fight , and B. He wasn't expecting almost the whole of the rest of the world to unite against him sanctions wise.
Absolutely. It would have been hard to predict and plan on both points though. I think he was expecting the Ukrainian military to follow the same act as the Afghanistan military and refuse to put up a fight.
I think he was also expecting to have more allies, and for western nations to be soft in their sanctioning as they have done so in the past.