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By "Punishing" France, The US Just Accelerated The Demise Of The Dollar

Tyler Durden's picture




 

Not even we anticipated this particular "unintended consequence" as a result of the US multi-billion dollar fine on BNP (which France took very much to heart). Moments ago, in a lengthy interview given to French magazine Investir, none other than the governor of the French National Bank Christian Noyer and member of the ECB's governing board, said this stunner at the very end, via Bloomberg:

  • NOYER: BNP CASE WILL ENCOURAGE ‘DIVERSIFICATION’ FROM DOLLAR

Here is the full google translated segment:

Q. Doesn't the role of the dollar as an international currency create systemic risk?

 

Noyer: Beyond [the BNP] case, increased legal risks from the application of U.S. rules to all dollar transactions around the world will encourage a diversification from the dollar. BNP Paribas was the occasion for many observers to remember that there has been a number of sanctions and that there would certainly be others in the future. A movement to diversify the currencies used in international trade is inevitable. Trade between Europe and China does not need to use the dollar and may be read and fully paid in euros or renminbi. Walking towards a multipolar world is the natural monetary policy, since there are several major economic and monetary powerful ensembles. China has decided to develop the renminbi as a settlement currency. The Bank of France was behind the popular ECB-PBOC swap and we have just concluded a memorandum on the creation of a system of offshore renminbi clearing in Paris. We have very strong cooperation with the PBOC in this field. But these changes take time. We must not forget that it took decades after the United States became the world's largest economy for the dollar to replace the British pound as the first international currency. But the phenomenon of U.S. rules expanding to all USD-denominated transactions around the world can have an accelerating effect.

In other words, the head of the French central bank, and ECB member, Christian Noyer, just issued a direct threat to the world's reserve currency (for now), the US Dollar.

Putting this whole episode in context: in an attempt to punish France for proceeding with the delivery of the Mistral amphibious warship to Russia, the US "punishes" BNP with a failed attempt at blackmail (recall that as Putin revealed, the BNP penalty was a used as a carrot to disincenticize France from concluding the Mistral transaction: had Hollande scrapped the deal, BNP would likely be slammed with a far lower fine, if any). Said blackmail attempt backfires horribly when as a result, the head of the French central bank makes it clear that not only is the US Dollar's reserve currency status not sacrosanct, but "the world" will now actively seek to avoid USD-transactions in order to escape the tentacle of global "pax Americana."

And, the biggest irony of all is that in "punishing" France for dealing with Russia, that core country of the Eurasian alliance of Russia and China, the US merely accelerated the gravitation of France (and all of Europe) precisely toward Eurasia, toward a multi-polar (sorry fanatic believers in a one world SDR-based currency) and away from the greenback.

Or shown visually (as we have ever since 20120).

Meanwhile, somewhere Putin is still laughing.

 

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Fri, 07/04/2014 - 15:10 | 4925106 The Shootist
The Shootist's picture

Oh la la la la, sacre bleu!

Fri, 07/04/2014 - 15:11 | 4925108 crazzziecanuck
crazzziecanuck's picture

Crazzziecanuck awaits Maidan protests in Paris now.

Fri, 07/04/2014 - 15:20 | 4925129 Serfs Up
Serfs Up's picture

I'm sure there are numbnuts in the State Department and Oval Orifice even now thinking, Oh yeah?  Just try France!  You need the dollar mroe than it needs you!

You know, exceptionalism, hubris and all that.  

Fri, 07/04/2014 - 15:25 | 4925134 BaBaBouy
BaBaBouy's picture

""the US merely accelerated the gravitation of France (and all of Europe) precisely toward Eurasia, toward a multi-polar (sorry fanatic believers in a one world SDR-based currency) and away from the greenback. ""

AND ""EVERYONE"" (Except The .001%) Will Be MUCH Better Off For It.

Fri, 07/04/2014 - 15:26 | 4925149 Buckaroo Banzai
Buckaroo Banzai's picture

Considering it was France that broke the back of the London Gold Pool in the late 60s, ultimately forcing Nixon to close the gold window, I guess we should have seen this coming.

Fri, 07/04/2014 - 15:36 | 4925178 Buck Johnson
Buck Johnson's picture

This is going to end real bad for us in the US, real badly.

Fri, 07/04/2014 - 15:39 | 4925185 International Jew
International Jew's picture

You all act as if this isn't some grand play...

it fucking is.  & the goyim are the puppets.

Fri, 07/04/2014 - 15:59 | 4925250 knukles
knukles's picture

Nobody ANTICIPATED the UNINTENDED CONSEQUENCE?
That's why they're called unintended

BUT, some of us here clearly wrote long ago that FACTA and other missives and behaviors by the government were simply driving folks who otherwise had alternatives, away from the US Dollar.

Unanticipated, my ass.

Look, nobody is so fucking dumb as to be doing all this without malice aforethought.

Fri, 07/04/2014 - 16:03 | 4925254 TahoeBilly2012
TahoeBilly2012's picture

I thought these Western Jews were all on the same page...how on earth are they going to bring about One World Order with this infighting? What's next, a Hollywood script that tells the truth, a non puppet President? Come on guys get back on track you are confusing us.

Fri, 07/04/2014 - 16:12 | 4925283 Gaius Frakkin' ...
Gaius Frakkin' Baltar's picture

Time to cook up some Freedumb Fries!!!

Nevermind... I doubt the jackasses wrapped in flags this weekend will ever hear about this...

Fri, 07/04/2014 - 16:36 | 4925350 macholatte
macholatte's picture

 

 

Look, nobody is so fucking dumb as to be doing all this without malice aforethought.

 

 

Obama: “We are ..Days Away From Fundamentally Transforming The United States of America” 

 

Now I understand...

 

Fri, 07/04/2014 - 17:16 | 4925441 mjcOH1
mjcOH1's picture

"This is going to end real bad for us in the US, real badly."

I think we should be actively encouraging the French to invest in paper Rubles, paper Rupees, paper Renminbi, and expecially paper Un-Reals. Your mothers were hamsters and your fathers smelled of elderberries! Learn to speak Chinese, you sons of silly persons!

Fri, 07/04/2014 - 17:30 | 4925490 El Oregonian
El Oregonian's picture

My guess now is that Paris will have a very large devastating HAARP Earthquake soon, huh?

Fri, 07/04/2014 - 18:27 | 4925617 gh0atrider
gh0atrider's picture

When your dollar fails you, Satoshi will still be there with a roof, a blanket and some warm sake for you.

Fri, 07/04/2014 - 18:39 | 4925633 mjcOH1
mjcOH1's picture

And then 6am rolled around.... cardboard roof, polyester scarf that chick dropped when you ran after her, and a warm bottle of Thunderbird waiting for you.

Fri, 07/04/2014 - 18:44 | 4925643 gh0atrider
gh0atrider's picture

gh0atrider smells bad.

Fri, 07/04/2014 - 20:08 | 4925783 strannick
strannick's picture

Looks like now its America's dollar, but its not France's problem.

Fri, 07/04/2014 - 21:41 | 4925897 Manthong
Manthong's picture

Obama: The clown who stuck a fork in the dollar.

Fri, 07/04/2014 - 22:43 | 4925969 TeamDepends
TeamDepends's picture

Germany, France's stern neighbor, punished her good and hard today.

Fri, 07/04/2014 - 23:40 | 4926015 jeff montanye
jeff montanye's picture

and not for the first time.

one (well, really two) thing one can say for obama, he's radicalizing the republican party (sort of) and destroying the democratic one (a bit around the edges).  

godspeed.

Sat, 07/05/2014 - 00:09 | 4926032 sleigher
sleigher's picture

Someone you will all embrace.  Someone we have so far inside you all will believe him a savior only to realize too late he is your end.  

 

-Paraphrased from the dinner party... 

Fri, 07/04/2014 - 23:00 | 4925982 Jerk_Store
Jerk_Store's picture

And then 6am rolled around.... cardboard roof, polyester scarf that chick dropped when you ran after her, and a warm bottle of Thunderbird waiting for you.

 

T-Bird, breakfast of champions

Fri, 07/04/2014 - 17:38 | 4925513 Greenskeeper_Carl
Greenskeeper_Carl's picture

Also, I fart in their general direction.

Fri, 07/04/2014 - 17:30 | 4925491 Not Too Important
Not Too Important's picture

July 20?

'Occult Message in Speech by Christine Lagarde of IMF'

http://www.youtube.com/watch?v=QYmViPTndxw&app=desktop

Notice.

1. She makes it very clear, she does what she is told. Job security?

2. Goes right into occult numerology.

Don't know about the date, but everything she says sends a chill up my spine. Been there, done that. The depravity of these fuckers knows no bounds.

Fri, 07/04/2014 - 18:42 | 4925637 Monty Burns
Monty Burns's picture

I  think this is complete bollocks.  You can make numerology come up with any figure you want by simply adding, multiplying dividing until you arrive at a 'sinister' numeral.

In any event are you seriously suggesting that CL has to use such a medium to get her message to 'the elite'?  Why not try, you know, email, phone or a letter?

Fri, 07/04/2014 - 22:46 | 4925916 Lore
Lore's picture

It seems like silly drivel to normal people, wasteful of time and energy, but dig through old writings and you find lots of little number puzzles and codes and symbols and other absurdities, some bizarrely complex.  It seems clear that at least some of the psychopaths take it seriously and want you to know, dropping little hints, like the mystery notes or pictures that sometimes appear in the Classifieds section of a newspaper. Consider the numerology of 9-1-1 and 7-7-7, or the patterns in scripture.  On one hand, it's alienating, as you're left thinking "Where are their priorities? What's wrong with them?"  On the other hand, if it matters to influential people, you wonder if there's a some kind of secret message, some less trivial purpose to the exercise. Both points seem valid.  There is an incredible arrogance, like the writer thinks s/he is imposing arbitrary structure on the universe itself, delivering messages to others (insiders, subordinates) in the process. The word 'Magic' is not used lightly. Something may happen, it may not be where public attention is focused, and even if it doesn't, there will always be another group that draws connections between unrelated events because it's how they make money and feel important, exploiting mass ignorance.

Fri, 07/04/2014 - 23:36 | 4926013 Oh regional Indian
Oh regional Indian's picture

Very well said Lore....

Sat, 07/05/2014 - 01:34 | 4926101 TahoeBilly2012
TahoeBilly2012's picture

Yes, VERY well said Lore. What in the hell is a Kenysian scientist, where they are supposed to be profusing the adherence to LOGIC be doing babbling about numerology at a serious meeting of the minds? Fucking beyond bizarre and creepy. They know their logic is garbage to be babbling like this to say the extreme very least.

Sat, 07/05/2014 - 12:52 | 4926689 TBT or not TBT
TBT or not TBT's picture

Animal spirits.   That old queen Keynes felt them strongly himself.  

Sat, 07/05/2014 - 10:25 | 4926386 spinone
spinone's picture

When you dig through old writings and the bible, it shows how people tried to understand the universe without the beneifit of science and the scientific method.  In light of the tools of science and statistics, numerology, astrology, reading chicken entrails etc have less value.

Sat, 07/05/2014 - 06:07 | 4926188 Zero Point
Zero Point's picture

Public broadcasting of their messages gives their rites power. Their beliefs, not mine.

Sat, 07/05/2014 - 12:57 | 4926710 gh0atrider
gh0atrider's picture

I  think this is complete bollocks.  You can make numerology come up with any figure you want by simply adding, multiplying dividing until you arrive at a 'sinister' numeral.

In any event are you seriously suggesting that CL has to use such a medium to get her message to 'the elite'?  Why not try, you know, email, phone or a letter?

No, you cannot simply divide any number to arrive at a single integer or "root number".  And part of the idea in satanic systems is to give the sacrificial victim foreknowledge that they are to be sacrificed.  It induces fear and panic in the victim and excitement in the executioner.  July 20th is the start of the abduction rituals.

Sat, 07/05/2014 - 12:41 | 4925694 Dublinmick
Dublinmick's picture

Lagarde is demonic and reminds one of death eating crackers on a bar stool, but let us not blame numerology for this.

Sat, 07/05/2014 - 11:36 | 4926479 JR
JR's picture

Could it be, Not Too Important, that the wild sex-drug orgies of Strauss-Kahn are bubbling just below the surface where the money elites are fraternizing and cooperating with the Devil?

The point is, Lagarde didn’t write the speech and the question is Who wrote it and why? It reminds me of the time in Europe when the degenerate elites went totally crazy, producing horrible sex orgies in caves; and when someone turned loose an orangutan in the cave, dressed as the Devil, they ran screaming for their lives, realizing the identity of their partner.

Think about it: it’s been 70 years since the elites in Washington have dominated Europe (“It is always 1945 in Washington”), and, now, that same empire of domination is moving into the entire world – into the Middle East, into Africa and Ukraine and Russia…

And as the war and propaganda power derived solely from the Fed/IMF printing machine openly moves its wrecking ball into Russia (after smashing the US and the EU into submission), Paul Craig Roberts steps forward to lambast the latest lies about Russia coming from the Washington elite at the G-7 meeting:

“Notice how narrowly Washington defines ‘the world community.’ The ‘world community’ consists of the Group of 7, that’s it. Seven countries make up the ‘world community.’ The ‘world community’ consists of six white countries and Washington’s puppet state of Japan. The ‘world community’ is the U.S., Canada, Britain, Germany, France, Italy, and Japan. The other 190 countries are not part of Washington’s ‘world community.’ In the neo-con doctrine, they are not even part of humanity. The ‘world community’ doesn’t have the population of single excluded countries, such as China or India. I haven’t done the calculation, but probably the land mass of Russia itself exceeds the land mass of the ‘world community.’ So, what is this ‘world community’?  The ‘world community’ is the assemblage of U.S. vassal states… In America hate and the cultivation of hate is alive and well. But not a single moral virtue is.”

And the vassal state, France, has dared get out of line? Hmmm.

Concludes the video commentary on Lagarde’s highly mysterious talk:

“The biggest question now is: What does the IMF have planned on July 20, 2014?

“Protect yourself, the Global Reset is about to happen.”

Sat, 07/05/2014 - 21:34 | 4927854 Lore
Lore's picture

Excellent post.  "Global Community" seems at least as glib as "Coalition of the Willing."  "Globalism" seems like a glib euphemism for Control Freak, and the goal of "Illuminism" seems to be keeping you in the dark!

Fri, 07/04/2014 - 18:20 | 4925606 tony wilson
tony wilson's picture

cheney been talkin it up rumsfeld to.

and obarme.

false flag a big one is all they have left.

 

Fri, 07/04/2014 - 21:36 | 4925892 Hughing
Hughing's picture

yep, we are headed towards a devaluation.

Sat, 07/05/2014 - 00:38 | 4926057 tumblemore
tumblemore's picture

they don't have any brakes

Fri, 07/04/2014 - 16:14 | 4925269 Bananamerican
Bananamerican's picture

"malice aforethought"

and U.S. assets on firesale for pennies on the new doelarr™

Soon TPTB will only have the citizens of the world's sole "Hyperpower™", "The Richest Country In the History of The WORLD™", to lord over.

 

It's not the 4th of July that matters

It's the 5th of July that counts

"a Republic madam, if you can keep it"

Sat, 07/05/2014 - 10:32 | 4926393 Griffin
Griffin's picture

There seem to be some silly people who dream of a uni polar world where some superpower has complete control of everything and every one by the use of coercion or brutal force, using things like debt and fear as leverage.

This is a stupid idea and a hopeless one. A short thread in the fabric of destiny, if there was such a thing.

 

I do agree that the 5th of July is the day that counts, but only because its my birthday ;)

 

Fri, 07/04/2014 - 16:45 | 4925377 Urban Redneck
Urban Redneck's picture

Actually Noyer said the same thing on June 11, over three weeks ago and before the settlement was announced. There was even a Bloomturd article with an English translation (otherwise one could blame the NSA's closed captioning translation software).

BFMTV: Mais comme le dollar reste la monnaie de référence pour le commerce international, on est un peu bloqué, un peu prisonnier de cette situation. Est-ce qu’il faut que l’euro prenne sa place d’une façon ou d’une autre ? C’est une des questions qu’il faut évoquer ?

C. N. : Oui, oui, vous avez tout à fait raison. Par boutade, on pourrait dire que les entreprises auraient tout intérêt à faire le maximum d’opérations de commerce international en euros ou dans d’autres devises d’ailleurs, par exemple, le commerce entre la France et la Chine, faisons-le en euros, faisons-le en renminbis, ne le faisons plus en dollars. Mais plus sérieusement, je pense que c’est effectivement une affaire qui laissera des traces et qui peut amener au développement de l’utilisation d’autres devises que le dollar pour le commerce international.

“We could say that companies would have maximum interest to do the most possible transactions in other currencies,” Noyer, who is also a member of the European Central Bank’s Governing Council, said yesterday on BFM television. “Trade between China and Europe -- do it in euros, do it in renminbi, stop doing it in dollars. This is an affair that will leave marks.”

http://www.zerohedge.com/news/2014-06-12/paul-volcker-slams-fed-kind-stu...

Fri, 07/04/2014 - 20:55 | 4925847 Lux Fiat
Lux Fiat's picture

“Trade between China and Europe -- do it in euros, do it in renminbi, stop doing it in dollars. This is an affair that will leave marks.”

Perhaps this will be a l'affaire farewell of a more literal sort.  I am also reminded of a movie quote about the harder one squeezes, the more star systems slip through the fingers.  Seems equally applicable to today's reserve currency.

Sat, 07/05/2014 - 08:10 | 4926251 Ghordius
Ghordius's picture

and so expect the political capital (in the Draghi sense) behind the USD to increase it's rethorical attacks on the antagonist political capitals: wild hyperbolic legends of a SDR global currency, of IMF-globalist-UN take-overs of the planet, of gold being the evil incarnate and of the EUR "crumbling, tomorrow, right after parity"

meanwhile... the Banque of France is perhaps unnecessarily aggressive (nearly Nuland-like?) in it's commentary. Yet is shows very well that national/international politics can still be done effectively, by the member national banks confederated into the ECB

effectively, this ties the Banque of France, the French banking system more strongly with the Chinese ones, and might also have repercussions on the balance between the Western bourses

I'm of the same opinion as Tyler, though: this is a slow process. It's like watching a mountain crumbling to a hill, particularly for the impatient

Sat, 07/05/2014 - 11:49 | 4926494 Urban Redneck
Urban Redneck's picture

The BdF is a peculiar beast of bank (even absent its ECB membership), in that it's the central bank of the central banks of Benin, Burkina Faso, Cameroon, CAR, Chad, Congo, Equatorial Guinea, Gabon, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo, many of which have large and increasing CNY flows.

I haven't heard much more of devaluing the CFA franc for the benefit of the French leisure classes since the Oompa Loompa packed her bags for the IMF.

Patience is a virtue, in the mean time- we have muppet theatre to keep us entertained on a daily basis.

Sat, 07/05/2014 - 12:56 | 4926702 TBT or not TBT
TBT or not TBT's picture

Nuland-esque.  

Fri, 07/04/2014 - 19:19 | 4925688 jaxville
jaxville's picture

Knukles .... I think you are reiterating what International Jew just posted. The more I think about this, the more I see this is not a mere matter of some sort of inept driven happenstance.

Sat, 07/05/2014 - 06:38 | 4926195 Raging Debate
Raging Debate's picture

Jaxville - China becoming reserve currency and already is according to the IMF is a feature not a bug. I stated this repeatedly since 2011. It wasn't out of vanity. Glad ZH posted the simple chart on reserve currency's.

A lot of government decision-making becomes a lot more crystal clear in regards political insiders looting and reinvesting in real-estate, especially abroad.

The job of reserve currency becomes the job of global policeman these days and is an 80 years model. The "insane" politics help prod investment East. The model of full corruption and debt saturation seems what the timeframe is about. First half is gold or metal standard latter half liquidity, losse monetary policy.

Healthcare and government pensions will be restructured by having draconian cuts applied to them. Rationing by indirect tax and reduced coverage is happening already in public/private sector. Get a gym membership and supplement. Wealthy or not save yourself real money and feel better in the process. Federal and government pensions will be the last to be cut in this slow motion bankruptcy and restructuring. The faster the latter part occurs the quicker investment will return.

It is important to hedge with lead for an increasing crime rate, have 3 months food and water and a bug-out bag (knife, matches, chlorine for water purification, rope, compass, localized wilderness survival guide, first aid-kit, fishing line-hooks, an axe etc,) if the geopolitics really turn south as they did in the last big cycle.

I expect an 80's style crash on stock and a false flag to be the excuse for the cut in pensions, we'll have a couple years that will look bleak as hell but I am optomistic past the 2021 timeframe. I refuse to live in fear and will make hay while the sun shines, it is 4:00 and the sun is waning...

I suspect our retructure will not be as harsh as the Soviets. There is better opportunity for investment here, far more infrastructure and economy that will survive and information sharing by the Internet will lessen the blow and lots of cheap entertainment will keep people saner. Look after one another, get out and get to know the locals and try to have a little fun in the dark carnival season.

Fri, 07/04/2014 - 19:50 | 4925754 klockwerks
klockwerks's picture

Thanks Knuck. This is a planned event by our current leadership and will show up as another "crisis"

Fri, 07/04/2014 - 21:50 | 4925908 Redhotfill
Redhotfill's picture

I'm sure O'bammy has the solution to the problem he created.   I'd gladly pay you tommorrow with worthless dollars for a hamburger today.

Sat, 07/05/2014 - 10:03 | 4926356 perchprism
perchprism's picture

 

That cocksucker in the White Hut is doing this shit purposely to destroy this country.  We're being invaded from the South, we've become international laughingstocks, spreading  homosexuality is our State Department's first priority...

 

No space program.  More cheese programs.  Queer studies.  Gender studies.  No manufacturing.  Lies, lies, lies.   Let's disarm the population.  More cheese please.

 

 

Sat, 07/05/2014 - 12:11 | 4926570 gimme-gimme-gimme
gimme-gimme-gimme's picture

American's have been eating other people/countries lunch for a long time now. But that time is slowly coming to an end with economies moving away from the dollar as a reserve currency.

Fri, 07/04/2014 - 16:08 | 4925271 ebworthen
ebworthen's picture

"Pride goeth before destruction."

It is hubris that will bring about our tragic downfall.

Fri, 07/04/2014 - 16:20 | 4925311 booboo
booboo's picture

"The wicked freely strut about when what is vile is honored among men"

Fri, 07/04/2014 - 18:51 | 4925649 TheSecondLaw
TheSecondLaw's picture

"And what rough beast, its hour come round at last,

Slouches towards Bethlehem to be born?"

Sat, 07/05/2014 - 01:38 | 4926102 TahoeBilly2012
TahoeBilly2012's picture

https://www.youtube.com/watch?v=O7xtjpU6Aak

 

Your poem comes at the end! Watch!

Sat, 07/05/2014 - 01:39 | 4926103 TahoeBilly2012
TahoeBilly2012's picture

https://www.youtube.com/watch?v=O7xtjpU6Aak

 

Your poem comes at the end! Watch!

Sat, 07/05/2014 - 01:39 | 4926104 TahoeBilly2012
TahoeBilly2012's picture

https://www.youtube.com/watch?v=O7xtjpU6Aak

 

Your poem comes at the end! Watch!

Fri, 07/04/2014 - 16:25 | 4925328 ebear
ebear's picture

Equally applicable to the French, or anyone else for that matter.

I'd just like to know if the USD ceases to be the global reserve, then where does all that money go that's currently in USD?  Where's the deep market that can absorb all that?   China?  Europe?   Russia?  Seriousy, don't make me LOL.

Anyone holding their breath on the dollar's demise is going to turn blue, then purple, then black long before it happens.

Remember: bears are always early.   Always.

Fri, 07/04/2014 - 17:02 | 4925432 Troublehoff
Troublehoff's picture

Maybe, nobody really knows when the inflection point will come...

...but forgetting Russia completely, the GDP of China plus the EU is double that of the US so don't get too comfortable

Sat, 07/05/2014 - 01:08 | 4926081 ebear
ebear's picture

"Maybe, nobody really knows when the inflection point will come..."

Going by the down votes there's a lot of people here who think they do.

However, just because you want something to happen doesn't mean it will.

And why would you want that anyway?

As for GDP, those numbers are relatively meaningless and don't address the real issue which is:

How deep is the international market for your currency, and how confident is the international community that your currency won't collapse and your bond commitments will be honored?

To which I would note:

Europe is a house divided headed straight for a fiscal brick wall.

Russia has already defaulted on its bonds : 1998

China is presently unravelling like a cheap suit.  Total black swan territory.

 

Final point:  making investment decisions based on an ideological viewpoint is the surest way to lose money.

 

actually, one more point:  It's not about being comfortable, it's about dealing with the evidence at hand, despite how unpleasant it may be.

 

Sat, 07/05/2014 - 08:25 | 4926265 SWRichmond
SWRichmond's picture

yes and the evidence at hand leads people like you to indulge this "least dirty shirt" nonsense.  

the entire developed world is a fiscal and financial basket case.  in a situation like that making the case for keeping the current holder of the reserve currency is a fool's errand.  that is especially true when the holder of the reserve currency is grotesquely over extended militarily all over the globe; when the holder of the reserve currency has, as it must, pissed off the entire rest of the globe; when the entire rest of the planet is looking for a better deal.

it is for this reason that I have been ready for decades for someone else to pick up the mantle of the world's reserve currency, world's policeman and general a******.  

Sat, 07/05/2014 - 12:43 | 4926656 Troublehoff
Troublehoff's picture

And why would you want that anyway?

Because the status quo gives an unfair advantage to the US, and I don't like unfair advantages. The US can print money, spend it on wars, or on bailing out commercial banks, and foreign central banks will soak up the dollars, effectively picking up the tab.

As for GDP, those numbers are relatively meaningless and don't address the real issue which is:

How deep is the international market for your currency, and how confident is the international community that your currency won't collapse and your bond commitments will be honored?

Disagree, GDP is a pretty good indicator of the size of an economy and thus reflects the depth of its markets reasonably  well, and as far as honouring bond commitments go, the US only has one answer, and that is simply to print more money.
Final point:  making investment decisions based on an ideological viewpoint is the surest way to lose money.
Agreed - I wouldn't invest in any currency - they're all trash.
Fri, 07/04/2014 - 19:38 | 4925729 Calmyourself
Calmyourself's picture

Hyperinflation eats all that wealth..

Fri, 07/04/2014 - 23:14 | 4925995 Jerk_Store
Jerk_Store's picture

I'd just like to know if the USD ceases to be the global reserve, then where does all that money go that's currently in USD?  Where's the deep market that can absorb all that?   China?  Europe?   Russia?  Seriousy, don't make me LOL.

 

US real estate maybe...commodities like beef,grain, oil, etc. driving up prices in the USA..US produced goods like airplanes and weapons. What would you do if you were holding a massive amount of dollars that you wanted to get rid of?

Fri, 07/04/2014 - 19:27 | 4925696 August
August's picture

I'm fuzzy on the whole good/bad thing. 

Is a 100% increase in the real cost of living "bad"?

Fri, 07/04/2014 - 19:25 | 4925697 ajax
ajax's picture

 

 

"This is going to end real bad for us in the US, real badly."

And now that FATCA's in full swing you Yanks are truly screwed, worldwide screwed.

"Nowhere to run nowhere to hide"

 

 

Fri, 07/04/2014 - 20:38 | 4925825 TimmyM
TimmyM's picture

Sieg Heil FATCA!

Fri, 07/04/2014 - 21:53 | 4925912 UselessEater
UselessEater's picture

and GATCA and TiSA....."they're" on a roll

Fri, 07/04/2014 - 19:32 | 4925718 Kprime
Kprime's picture

exxxxceeelllent (in the voice of Mr. Burns), with the finger tent.

Sat, 07/05/2014 - 08:53 | 4926297 Bangin7GramRocks
Bangin7GramRocks's picture

So you are all saying that indeed the big banks are untouchable? I thought we wanted treasure and blood from all these sick fuckers? Now I'm confused. They should all be on Devil's Island, but you don't even believe that we can fine them! Strange days indeed.

Sat, 07/05/2014 - 08:55 | 4926298 gatorboat
gatorboat's picture

"This is going to end real bad for us in the US, real badly."

Two strongest currencies in the world (USD and EUR) have been in ZIRP five years now to allow unlimited borrowing by insolvent governments (and insolvent banks).

There is no road back from this.  Interest rates cannot be raised anytime in the future.   USD and EUR will be in ZIRP from now on. 

USD and EUR are being sacrificed to kick the can a little longer, keep insolvent governments and banks going a little longer.

But the end will come. It's inevitable.  ZIRP will destroy a currency sooner or later from excessive printing (to fund exponential debt).

There won't be a debt collapse, but there will be a currency collapse.

Fed and ECB are doing the very same thing Weimar Germany did, print the currency to oblivion.

They just make it look legitimate via buying bonds with the newly printed currency, something Weimar Germany didn't do.

Those bonds are worthless.  They come from insolvent governments and banks.  They might have AAA ratings.  It doesn't matter, they're worthless.  The only way they pay off is by rolling them over into new debt.  So they really don't pay off.  The borrowed money is never paid back.

So it's Weimar Germany with some accounting gimmicks to make it look legit.  That's all it is.  

"We have these AAA government bonds and securities on our books as collateral for these loans, so our balance sheet is fine."

But those bonds are from insolvent governments and banks, so the AAA rating is worthless.

If the printing stopped, these bonds couldn't be rolled over into new debt, they would default, these insolvent governments and banks would go bust overnight,  and the whole ponzi scheme would come crashing down.    

So the printing will go on, guaranteed.  There is no other choice.  These two strongest currencies in the world will be printed to oblivion, guaranteed. 

This is why America won't be a superpower much longer.  USD will collapse at some point from severe over-printing.  It's inevitable.  

America might have the strongest military in the world.  It doesn't matter when the currency collapses and the military is paid in worthless currency.  They'll abandon their weapons and their posts, refuse to fight anymore.  If they're overseas they won't be able to get home, they'll be stranded where they are.

 

Fri, 07/04/2014 - 16:59 | 4925331 Freddie
Freddie's picture

http://www.tfmetalsreport.com/podcast/5903/jackass-red-glare

 

Dr. Jim Willie saying Jamie Dimon cancer story is total BS.  It is about Dimon getting out of JPM as fast as he can run.  I guess Dimon fears tha nail gun.

Early start of the recording first few minutes. About 2 minutes into the recording.  Weird.  Jim Willie has some amazing sources.

Fri, 07/04/2014 - 20:12 | 4925790 strannick
strannick's picture

In that same piece Willie said BNP Paribas was being punished for helping someone (Putin) dump Treasuries.

Fri, 07/04/2014 - 23:05 | 4925986 applelover
applelover's picture

Can you please explain? Thanks.

Fri, 07/04/2014 - 15:28 | 4925155 kliguy38
kliguy38's picture

Sending in spec ops now into paris for recon......deploying two divisions to GB for staging...... ICBMs being re programmed for Paris.......We're gonna teach the french frie eating hairy legged women a couple of things about the Amerikan way........

Fri, 07/04/2014 - 15:38 | 4925183 Winston Churchill
Winston Churchill's picture

Many a true word said in jest.

Pax Americana will use a scorched earth retreat.

Vive La Frappe.

Fri, 07/04/2014 - 15:39 | 4925187 International Jew
International Jew's picture

You act as if American's are still in control.  I assure you, Jews and communists are.

Fri, 07/04/2014 - 15:40 | 4925189 Winston Churchill
Winston Churchill's picture

You repeat yourself.

Fri, 07/04/2014 - 15:58 | 4925245 Escrava Isaura
Escrava Isaura's picture

With all the due respect this title is a misprint. Here’s the real meaning:

“By punishing France, US war planning is moving accordingly”

Fri, 07/04/2014 - 16:03 | 4925260 knukles
knukles's picture

The true punishment of France would be to force all French women to shave their armpits and legs as well as bathe at least once a week.

BTW, when I used to live in Europe in the 60's and 70's there truly were French women wo smelt pretty ripe and did not shave.  The is a reason for stereotypes, folks.
The Brits smelled pretty ripe, too.
And they still have shitty teeth.
And are by and large a country of alcoholics.
And pedophiles

Now that's out of the way, we can goon to important stuff.
Like why some forms of sex are referred to a "Greek"

Fri, 07/04/2014 - 16:09 | 4925279 TahoeBilly2012
TahoeBilly2012's picture

Almost all my friends are alcoholics, while none (that I know of) are pedophiles...

Fri, 07/04/2014 - 16:49 | 4925387 CCanuck
CCanuck's picture

Congress is full of Pedrophiles.

Fri, 07/04/2014 - 17:45 | 4925515 Not Too Important
Not Too Important's picture

So is Parliament:

'(UK) Secret service infiltrated paedophile group to 'blackmail establishment''

"The former civil servant has told detectives investigating the activities of paedophiles in national politics that the Metropolitan Police’s Special Branch was orchestrating the child-sex lobbying group in the late 1970s and early 1980s."

http://www.express.co.uk/news/uk/485529/Special-Branch-funded-Paedophile...

Elm Guest House abuse scandal: Picture of Princess Diana and Prince Charles wedding day barbecue at "perverts" home

http://www.mirror.co.uk/news/elm-guest-house-abuse-scandal-1857685

 

But it really begs the question, who did Sandusky share those kids with?

 

Fri, 07/04/2014 - 19:28 | 4925703 Dublinmick
Dublinmick's picture

It was a 3 state pedophile ring Sandusky was mixed up in. It went right to the top.

http://vortexcourage.me/2014/06/30/mass-murder-of-canadian-children-admi...

Fri, 07/04/2014 - 20:28 | 4925811 MiltonFriedmans...
MiltonFriedmansNightmare's picture

All "public servants" are compromised in some fashion, and yes, a great many are pedophiles I.e. Janet Reno.

Fri, 07/04/2014 - 16:27 | 4925309 FeralSerf
FeralSerf's picture

It has been told that Napoleon sent a message to his Josephine from Russia saying: "I'll be home Sunday. Don't bathe."

"why some forms of sex are referred to a "Greek""

"Originates from South Australia. Meaning to take part in anal sexual penetration and commonly used as an insult or derogatory comment among youth.
You take it fuckin greekstyle!"

http://www.urbandictionary.com/define.php?term=Greek+Style

Then there's Russian Style (Def #3 the most interesting):

"A very difficult sexual maneuver involving two people where one person lies on their stomach and the other places their penis inside the others mouth while shooting an AK-47 with the butt of the rifle in between the legs of the person lying down. It reduces recoil and produces good oral sex.
Person 1: I was with this total slut last night. We went down to the shooting range and I banged her russian style
Person 2: How was the recoil?
Person 1: What recoil?"

http://www.urbandictionary.com/define.php?term=Russian-style

Fri, 07/04/2014 - 17:44 | 4925521 Not Too Important
Not Too Important's picture

Just for that I'm going to go all 'anal jihad' on your ass!!!

http://weaselzippers.us/192088-anti-islamist-egyptian-cleric-claims-fatw...

Sat, 07/05/2014 - 12:57 | 4926706 Stalkedbyhackers01
Stalkedbyhackers01's picture

Beware of hackers declaring anal jihad. As someone who has had an anal jihad declared on them since last August I feel for those who have an anal fatwa issued on them. The anal jihad started when I made a drunk youtube comment. Now the anal jihadists have went so far as to go to DHS since I went to the FBI since I was sick of their nonsense. The anal jihadists plan is to try presenting me as something I'm not.  Many on this site knows my anal jihadists well but due to various factors won't admit to it. Though I wonder how other people would feel being stalked and harassed since last August. Anyway if anyone from .gov is reading this I have a fatwa against me by hacker anal jihadists. I was even told I was hitlisted.

Fri, 07/04/2014 - 17:06 | 4925443 greygoo
greygoo's picture

Yeah, Americans set the bar so fucking high.......

https://www.youtube.com/watch?v=gIfuo4ShViI

 

Fri, 07/04/2014 - 17:12 | 4925461 tonyw
tonyw's picture

c'est exceptionelle

i just couldn't watch it all.

Fri, 07/04/2014 - 17:09 | 4925450 Lea
Lea's picture

knukles,

You lived in Europe in the sixties and seventies, you said? That would have been the no-wash, Butch feminist and Hippie rule period. Things have changed. As for the Brits being what you say, at least credit them with real, unheard-of elsewhere hate against pedophiles. Nobody likes to see them them in jail better than the Brits, and I personnaly thank them for that.

Now, we could argue that America is the world's first and foremost LGBT/gender confused/porn consuming country, couldn't we?

 

Fri, 07/04/2014 - 17:49 | 4925543 Not Too Important
Not Too Important's picture

"As for the Brits being what you say, at least credit them with real, unheard-of elsewhere hate against pedophiles."

Only the lower classes, and certainly not the immigrants. Or maybe that's why they're being let in, to vote down consent laws in exchange for allowing forced female circumscision and honor murder.

The illegals coming in to the US, after getting the right to vote through Executive Order, will vote in a whole new Constitution. One not in anyone's favor, unless one of the 'families'.

Fri, 07/04/2014 - 17:57 | 4925557 knukles
knukles's picture

Absolutely to it all, Lea.
Especially the foremost LGBT/gender confused part.
Fortunately, most Yanks don't give a rats ass about other people's gender identity and sexual preferences.
The Massive Angst Surrounding Such is a product of the liberal media's (whatever the rationale, I don't care but certainly is politically based) efforts to the point where the vast majority again, are so fucking sick and tired of hearing about it, everybody who screams about being a bigot, etc., can just go fuck themselves or die trying.  We're sick of having the shit, the whole discussion rammed down our throats.
Most people agree that one's sexual preferences, etc., are their own business and government has no business in anybody's bed rooms, etc.
And in fact should be silent upon the whole issue.

 

Sat, 07/05/2014 - 10:38 | 4926404 New_Meat
New_Meat's picture

It has gone from "the love that dare not speak" to "the perversions that won't shut the fuck up"

Fri, 07/04/2014 - 19:30 | 4925709 ajax
ajax's picture

 

 

Now get back to your Metallica cds Knuckles...

Fri, 07/04/2014 - 20:09 | 4925786 barre-de-rire
barre-de-rire's picture

said the man living in a country who shoot their presidents...

 

so, buddy, what the fuck you wait to kill you monkey big ears prez ? have ballz to buy gun in walmart & shoot can in forest but not to go washinton with loaded gun & ring the door ?

 

fucking mentals, you totally lost civilization.

 

 

Fri, 07/04/2014 - 20:34 | 4925821 ajax
ajax's picture

 

 

"America is the only country that went from barbarism to decadence without civilization in between."

- Oscar Wilde

Fri, 07/04/2014 - 22:32 | 4925955 RaceToTheBottom
RaceToTheBottom's picture

and back

Sat, 07/05/2014 - 02:23 | 4926124 IndyPat
IndyPat's picture

Coming from that man pleasing douche, I'll take that as a compliment.

Sat, 07/05/2014 - 06:58 | 4926182 Lea
Lea's picture

And wouldn't Wilde have known about decadence... A true expert, himself. Way worse than you think. Dirty scumbag pedo, in fact.

Sat, 07/05/2014 - 08:41 | 4926285 Cloud9.5
Cloud9.5's picture

I was in Paris last week.  A lot less traffic but the food was still great.  As for the women, well, all that walking keeps them fit.

Sat, 07/05/2014 - 10:31 | 4926392 Escrava Isaura
Escrava Isaura's picture

Cloud....

Welcome back! And glad see you typing. It has been painful, sorry to say, here lately….

For a second I thought Zero Hedge kicked you out. Hope they never do.

Anyway, check the link below. It’s by disabledvet. It’s very well written. And I think you would appreciate….. as well ‘some’ of the hedgers.

http://www.zerohedge.com/news/2014-07-02/china-golden-age-central-bankers-whatever-it-takes#comment-4920221

Fri, 07/04/2014 - 17:32 | 4925498 fattail
fattail's picture

That was my first thought " this means WAR.."   Except, Who are we going to declare war on?   Eurasia,  East Asia,  Oceania?

My guess....  Massive false flag dropped from a dive bombing Black Swan.  

Who we got... roll call...japan, UK, NATO countries not scared of Russia, Kingdom of Saudi Arabia, Republic of Kurdistan,...

Fri, 07/04/2014 - 15:53 | 4925232 Bdelande
Bdelande's picture

We wouldn't even be an independent Nation today without the French.  We should be thanking them on the 4th of July meat head, as they do on D day.

Fri, 07/04/2014 - 17:09 | 4925453 FlyingDutchman
FlyingDutchman's picture

Exactly.

Thx Guys & Gals for saving our asses and getting us back on our feet again.

Fri, 07/04/2014 - 17:53 | 4925551 Not Too Important
Not Too Important's picture

Do remember it was the Rothschilds that were paying for the Hessian mercenaries.

http://www.globalresearch.ca/the-federal-reserve-cartel-freemasons-and-t...

Fri, 07/04/2014 - 17:50 | 4925541 runningman18
runningman18's picture

The "multipolar/sdr fanatics" comment is the only thing in this article that doesn't make sense.  France's Christine Lagarde is probably clapping with glee right now.  The SDR is the goal of the banskers and this pushes Europe right into the arms of the IMF (not Russia), where all things are centralized.  If Russia were anti-SDR, then they wouldn't have demanded that Ukraine go to the IMF for a bailout in SDR's!  There will be no "multipolar" currncy system because that's not what Russia and China want either. They are owned by the IMF and the BIS.  They will call for the SDR as a world reserve  just like they always have.   

Sat, 07/05/2014 - 10:29 | 4926020 Leonardo Fibonacci2
Leonardo Fibonacci2's picture

This is what Les Grossman would say!!

https://www.youtube.com/watch?v=IEBL-k_vF0E

Fri, 07/04/2014 - 16:06 | 4925270 FlyingDutchman
FlyingDutchman's picture

"They hate us for our dollars."

Fri, 07/04/2014 - 16:42 | 4925370 Escrava Isaura
Escrava Isaura's picture

FlyingDutchman

Did you bother reading the title?

Fri, 07/04/2014 - 19:31 | 4925719 ajax
ajax's picture

 

 

+ 1000 FlyingDutchman

 

Fri, 07/04/2014 - 18:23 | 4925611 zerocash
zerocash's picture

Time to rename French Fries once more to Freedom Fries. That will teach those Cheese Eating Surrender Monkeys!

U-ASS-A! U-ASS-A! U-ASS-A!

Sat, 07/05/2014 - 22:09 | 4927405 steelhead23
steelhead23's picture

I am quite convinced that the U.S. has gone to war to protect the reserve status of the dollar (Iraq, Libya) and has threatened military action against those who have the timerity to attempt to drop the dollar (Iran).  I'm not suggestiong the U.S. will start bombing Paris anytime soon, I'm just saying that the U.S. is almost certainly more interested in maintaining the dollar's reserve status than in depriving Mr. Putin of another useless toy.  You do understand that assault vessels are juicy targets and basically sitting ducks in modern warfare, don't you?  This is a strange and spooky story.

Fri, 07/04/2014 - 15:31 | 4925131 BaBaBouy
BaBaBouy's picture

.

Fri, 07/04/2014 - 15:27 | 4925145 Black Forest
Black Forest's picture

Nuland will be proud to hand over chocolade cookies to freedom fighters on Avenue des Champs-Élysées.

Fri, 07/04/2014 - 15:54 | 4925234 Captain Obvious.
Captain Obvious.'s picture

Let them eat cookies.

Fri, 07/04/2014 - 16:00 | 4925251 RaceToTheBottom
RaceToTheBottom's picture

They hate us for our cake..... and cookies

Fri, 07/04/2014 - 17:33 | 4925496 COSMOS
COSMOS's picture

I hear she has a real wicked ECLAIRE receipe from her grandmother.

Fri, 07/04/2014 - 22:27 | 4925951 stoneworker
stoneworker's picture

Front Nationale...Vive le France!

Fri, 07/04/2014 - 15:30 | 4925160 Space Animatoltipap
Space Animatoltipap's picture

Apres France le deluge de $ ...

Fri, 07/04/2014 - 15:38 | 4925184 doctor10
doctor10's picture

Looks like the French are finiding themselves a little short of FREEDOM!!

Fri, 07/04/2014 - 18:03 | 4925571 mt paul
mt paul's picture

they hate us

 

because of our freedom fries....

Fri, 07/04/2014 - 18:16 | 4925601 Stalkedbyhackers01
Stalkedbyhackers01's picture

Pending review by FBI... Since you and your cohorts reported me to the DHS simply for writing gibberish your friends illegally obtained via hacking my system. Yep it's me the guy you people love to stalk and harass since August of last year. I wonder what DHS will have to say about hackers all over the world stalking a man who has had his identity hijacked. Yep it's me the guy who likes porn and practicing the iron monkey. How are you? I hope DHS does some magic and finds that wonderful data trove. Did you know there are federal laws pertaining to stalking and hacking someone? Tell your friends I said hi. Are you an active participant or do you just like to watch?

Sat, 07/05/2014 - 02:30 | 4926129 IndyPat
IndyPat's picture

Lemme guess.

Brown Acid?

Shit's long acting. Bad news. Try vitamin C.

Sat, 07/05/2014 - 13:07 | 4926727 Stalkedbyhackers01
Stalkedbyhackers01's picture

No not brown acid his cryptic removed by NSA pending DHS approval are in reference to something that has been going on since last August. If it wasn't a troll since I was sick of being stalked and harassed by hackers I went to the FBI out of desperation. Well word on the street is in retaliation they went to the DHS, for what no idea. I guess the random gibberish I was writing that they got off my system illegally and showed other people. Though I knew my system was compromised so I was playing to my audience.

Fri, 07/04/2014 - 21:28 | 4925883 drendebe10
drendebe10's picture

Can the corrupt arrogant narcissitic illegal indonesian kenyan alien muslim sociopathic liar in chief and its minions get any more stupid & uncompetent... or is this Startrek 3D chess moves?

Fri, 07/04/2014 - 21:28 | 4925884 drendebe10
drendebe10's picture

Can the corrupt arrogant narcissitic illegal indonesian kenyan alien muslim sociopathic liar in chief and its minions get any more stupid & uncompetent... or is this Startrek 3D chess moves?

Fri, 07/04/2014 - 21:31 | 4925887 Larry Dallas
Larry Dallas's picture

I used to think that the bankers were doing this all under the aegis of O.

Now I think that O really has a chip on his shoulder and is taking the whole ship down. After seeing how arrogantly he has conducted his last press conferences, he's abbetting and accelerating this.

He doesn't like 'Murica.

Sat, 07/05/2014 - 13:48 | 4926832 ChrisNoy
ChrisNoy's picture

Oh oh, seems the French are quite serious about that one:

Total CEO calls for bigger euro role in oil payments

http://www.reuters.com/article/2014/07/05/idUSL6N0PG0E720140705

Fri, 07/04/2014 - 15:13 | 4925113 MountainsRoam
MountainsRoam's picture

Dow 25K in 3 months ?? haha

Fri, 07/04/2014 - 15:17 | 4925121 The Shootist
The Shootist's picture

That'll show the haters. Mr. Henry, cut the vaca. and get back to your post.

Fri, 07/04/2014 - 15:17 | 4925116 Truther
Truther's picture

Who wants the green toilet paper anyway... Got PHYZZZ BITCHEZ?

Fri, 07/04/2014 - 15:16 | 4925117 muleskinner
muleskinner's picture

A very simple solution.

Return to a gold standard.

It may seem barbaric and the ancient relic is chided until the cows come home, however, it is the solution.

The dumbasses in charge at the present time will wither on the vine until they're dried and useless.

It is time for something other than what is, it doesn't work, at all.

 

Fri, 07/04/2014 - 15:19 | 4925128 BLOTTO
BLOTTO's picture

Maybe they might return to the gold standard after they snuff 25-33% of us off the planet...or more

Fri, 07/04/2014 - 15:31 | 4925170 Anusocracy
Anusocracy's picture

Given the natural decline in birth rates, the population will drop that much by 2150 anyway.

Fri, 07/04/2014 - 17:34 | 4925501 COSMOS
COSMOS's picture

Not here in USA, we are projected to hit half a billion by 2050ish

All that immigration and lots of babies comprende.

Fri, 07/04/2014 - 21:44 | 4925900 Anusocracy
Anusocracy's picture

Great!

A three hundred million man FSA. We'll be unstoppable.

Fri, 07/04/2014 - 17:36 | 4925506 fattail
fattail's picture

The people will enact a Gold/Silver Standard long before TPTB recognize one.  

Fri, 07/04/2014 - 17:55 | 4925556 Not Too Important
Not Too Important's picture
'Larry Grathwohl on Ayers' plan for American re-education camps and the need to kill millions'

http://www.youtube.com/watch?feature=youtu.be&v=HWMIwziGrAQ&app=desktop

Yeah, that Bill Ayers.

Sat, 07/05/2014 - 02:34 | 4926131 IndyPat
IndyPat's picture

Prairie Fire...

Fri, 07/04/2014 - 15:17 | 4925119 highly debtful
highly debtful's picture

I hope to God the US will accept sooner rather than later that it no longer is number one in this multipolar world. A formidable military machinery without economic power and moral supremacy is not enough. Not enough. 

Fri, 07/04/2014 - 15:37 | 4925179 Anusocracy
Anusocracy's picture

The US is a late stage USSR lording over its Warsaw Pact underlings.

Failed ideas backed up by an oversize military.

Fri, 07/04/2014 - 15:47 | 4925212 Winston Churchill
Winston Churchill's picture

History doesn't bode well on GRC status going quietly going into the long goodnight.

The British pounds transition was an abberation, which I doubt will be repeated.

The Doomsday clock is at five seconds to midnight.

Enjoy life whilst you can.

Sat, 07/05/2014 - 05:32 | 4926179 Oh regional Indian
Oh regional Indian's picture

Actually the GBP hardly went quietly into the night, it's "power" was sub/super-sumed by the USD as Reserve (30%ish by WW1 and 100% by WWII).

Because it was time for the rulers to rape the brits (look at them, drunk, brawling and lost as a nation by now).

 

Same shit now as the axis moves east and it's time for Muricans' to take it in their collectively giant ass....

Slow turning wheel, this GRC wheel...but relentless...crunch...splat....

 

Sat, 07/05/2014 - 10:02 | 4926344 Winston Churchill
Winston Churchill's picture

Ori,

I disagree.A whole generation was lost on Flanders fields.

If it hadn't been,there would have been even more fireworks over the changeover.

The Brits had the choice to team up with Hitler,fortunately for the world thay

didn't.Might have been better if the Royal Navy had levelled DC in retrospect.

Anyhows I'm conflicted being a mixture of English,Swiss, and American.

Sat, 07/05/2014 - 13:42 | 4926813 Oh regional Indian
Oh regional Indian's picture

The "sins of our forefathers" question is a tough one anyways...when you mix lineages....

Fri, 07/04/2014 - 21:36 | 4925891 drendebe10
drendebe10's picture

Wow... didnt know the liar in chief posted its rants on ZH... impressive 

Fri, 07/04/2014 - 15:17 | 4925124 SilverIsMoney
SilverIsMoney's picture

It appears they're letting us Americans really enjoy this manipulated 4th as it will be the looking back point for the next three decades...

The beginning of the end started July 4th... Brilliant!

Fri, 07/04/2014 - 15:18 | 4925125 Global Hunter
Global Hunter's picture

What can the US do in retaliation or to stop this?  Bomb civilians and ethnically cleanse Donbass?  Support Sunni jihadists slaughter Shiites, Alawites and Christians in Syria?  Chemical weapons false flag attack?

Not much else left for them to do, there is a probability they will re-attempt all 3 above.

Fri, 07/04/2014 - 15:26 | 4925147 kowalli
Do NOT follow this link or you will be banned from the site!