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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 - 18:01 | 4925567 novictim
novictim's picture

Does anyone recall that the British had to sink the greatest ships of the French fleet at the outset of WWII?

Things are not always as they seem.

Fri, 07/04/2014 - 23:45 | 4926018 Oldrepublic
Oldrepublic's picture

You probably are referring to the British sinking of French warships at the battle of Mers-el-Kebir, just after the fall of France in the Summer of !940. I understand that around 1300 French sailors were killed in the attack, but it was necessary, according to the British to avoid the Vichy French going over to the German side with the ships!

Fri, 07/04/2014 - 18:05 | 4925574 Jackagain
Jackagain's picture

I wonder if the Fed and the corrupt politicians are purposely killing the Dollar with plans on later blaming Europe for it?

Sat, 07/05/2014 - 03:45 | 4926157 Grumbleduke
Grumbleduke's picture

Someone will be blamed, alright.

 

Fri, 07/04/2014 - 18:21 | 4925608 Fix It Again Timmy
Fix It Again Timmy's picture

The US just played Russian Roulette with a fully loaded pistol...HOw did that turn out, Bubba?...

Fri, 07/04/2014 - 18:32 | 4925620 mrmister
mrmister's picture

And the New World Order plans begin to crumble and will be much different from their original hopes.  They always screw up it is their destiny like Napoleon.

Fri, 07/04/2014 - 20:52 | 4925844 Ocean22
Ocean22's picture

Unless this is exactly what they are looking for.

Fri, 07/04/2014 - 21:49 | 4925626 WhyWait
WhyWait's picture

Freakin amazin

after years of picturin

what we thought would happen

to be seeing this

unfolding

right out in public

day by day!

 

Bad things will happen

But I lived long enough

to see this!

Fri, 07/04/2014 - 18:37 | 4925631 insanelysane
insanelysane's picture

Tylers,

Guess we're "working" with some other allies.  Frau Merkel will be happy.

http://www.dailymail.co.uk/news/article-2680915/German-double-agent-arre...

Fri, 07/04/2014 - 18:40 | 4925634 post turtle saver
post turtle saver's picture

how I spent my 4th of July...

- swimming

- car racing

- bbq & beer

- fireworks

- exceedingly happy and not giving a flying fuck about France, Russia, China, the dollar, or other stupid horseshit

why? because USA and screw you, we're from Texas - that's why

Fri, 07/04/2014 - 19:00 | 4925658 Bdelande
Bdelande's picture

BFD

Fri, 07/04/2014 - 20:43 | 4925832 post turtle saver
post turtle saver's picture

Texas - bigger than France

Fri, 07/04/2014 - 22:19 | 4925945 nathan1234
nathan1234's picture

Would that be George Bush talking ?

 

Sat, 07/05/2014 - 00:16 | 4926034 post turtle saver
post turtle saver's picture

you wish it was him talking, you miss him already don't you?

Fri, 07/04/2014 - 20:25 | 4925808 barre-de-rire
barre-de-rire's picture

when the sage point out the moon, the idiot is looking at the finger.

 

it seems you have put your own  finger in your ass.

Sat, 07/05/2014 - 00:17 | 4926036 post turtle saver
post turtle saver's picture

oh look, a feeble attempt at wit, emphasis on feeble... lol, loser

Fri, 07/04/2014 - 20:51 | 4925841 Ocean22
Ocean22's picture

Eat drink and be merry for tomorrow you may die.

Wake up silly American.

Warning!

http://youtu.be/_QZLuu_8du4

Sat, 07/05/2014 - 00:13 | 4926033 post turtle saver
post turtle saver's picture

lol @ downvotes... bring it, the jealousy burns and you know it

Sat, 07/05/2014 - 07:09 | 4926211 Lea
Lea's picture

post turtle saver, I take it you're joking. Jealousy for the Americans? Wake up, dude, America is the n°1 hated country in the world, and it's getting worse by the day.

Enviable indeed.

Sat, 07/05/2014 - 07:43 | 4926228 post turtle saver
post turtle saver's picture

like I said...

Sat, 07/05/2014 - 21:26 | 4927858 DrewJackson
DrewJackson's picture

Enjoy it now Esse in 5 years due to invasion you and your children will be celebrating Cinco De Mayo....  Texans are full of bluster, just like rest of USA - what have they done lately?  The 4th Invasion is coming across now and your cheerleader, err I mean Gov is thinking of suing....  HOW TEXAN!!  NOT!!

 

I say this as a Southerner, with lot of Family in Texas and was holding out hope that Texans would live up the their motto of Don't Mess With Texas.

 

Let's make a list who has messed with Texas the past 8 years....

1) Obama

2) Mexico

3) Central America

4) add your own

 

Fri, 07/04/2014 - 18:41 | 4925635 yogibear
yogibear's picture

When the Federal Reserve bank loses control of the dollar is when it  loses. Panic replaces calm at the Federal Reserve.

Sat, 07/05/2014 - 07:55 | 4926241 Eyeroller
Eyeroller's picture

Bring it on.

Would love to see that Yellin bitch try to explain it all away as "noise".

Fri, 07/04/2014 - 18:46 | 4925644 desirdavenir
desirdavenir's picture

It's nice to see that at leat the foreign policy of France is not determined by unelected bankers as in the US...

Oh, wait...

Fri, 07/04/2014 - 19:14 | 4925681 Jack Burton
Jack Burton's picture

Getting out from dollar hegomony will spread due to this French bank case. Nations are learning that allowing dollar reserve currency status makes them all liable to US pressure and US punitive acts for not obeying Washington's political and financial commands. The Washington Dollar hegemony is what is being used to try and force a world sanctions program against Russia. Thinking that the dollar gives them power over every nation's economic activity, Washington is demanding sanctions, even at the cost of billions in profitable trade with Russia. Germany in particular is being commanded to throw away tens of thousands of high paying jobs to suit the Washington DC and Israeli neocon movement.

Russia, China, Brazil have figured out that Washington's power resides in the DOllar hegemony, they are slowly taking action. Now even western Europe, minus the UK, is catching on the Washington's power over them as long as the dollar is printable to  infinity and accepted as a store of value good to exchange for energy and manufactured goods, both of which flood into the USA daily, and mostly all that goes out in return is green fiat dollars. This has stood for decades now as acceptable. The more the exceptional nation throws it's weight around and makes threats, the more likely other nations begin to ditch the dollar. After all, any nation must ask its;ef what it gains by accepting dollar hegemony over all their trade.

Fri, 07/04/2014 - 19:20 | 4925691 Wahooo
Wahooo's picture

What makes everyone think the US gov and TPTB necessarily want a dollar reserve? They won't suffer from its demise. They sure as hell aren't going to war over it. Their leverage is in maintaining tension.

Fri, 07/04/2014 - 20:12 | 4925791 Kelley
Kelley's picture

The amount of money that is made from the brokerage fees is apparently a huge number. Maybe bigger than oil profits?

So the banks in NY and the UK wouldn't like it too much if Brokers in France and Russia took those commissions.

Fri, 07/04/2014 - 20:39 | 4925827 Wahooo
Wahooo's picture

So TPTB don't own positions in other currencies? Global diversification is their friend, that is why we are where we are.

Fri, 07/04/2014 - 23:01 | 4925984 Kelley
Kelley's picture

You're confusing positions held either long or short with the middleman broker. The broker skims a fee from EVERY transaction. Not so for the speculators.

 

It's the broker's dough that is at risk with the latest development.

 

Fri, 07/04/2014 - 20:24 | 4925807 lakecity55
lakecity55's picture

Good post, but Washington's policies and demands are not originated in Washington. Those in DC are the paid errand boys who carry them out.

The orders come from....somewhere else......I guess we can call them "Sargon" for now.

Sat, 07/05/2014 - 00:42 | 4926063 BobTheSlob
BobTheSlob's picture

This comment bought and paid for by Jack Soros...go fish...you have the retard factor here enthralled...kudos moron.

Sat, 07/05/2014 - 08:06 | 4926245 post turtle saver
post turtle saver's picture

well God forbid we have a dollar hegonomy... think of what things will be like when it becomes a hegemony

this French bank case will result in exactly what we're seeing... a bunch of frogs who got caught with their hand in the cookie jar spewing hot air that results in nothing... empty threats from even emptier suits... it's been like that since Oil for Food and it's about time they got their just due... BNP Paribas is crooked as a dog's hind leg and has been for a very long time now...

if anything, this slap on the wrist is the least they should expect from having their rock lifted up so everyone can watch the vermin crawl out... they falsified records, committed conspiracy, and even though they have a significant retail & finance presence in the US they had the audacity to violate sanctions against Cuba, Iran, and Sudan... hell, they laundered a $100 billion for those countries, did they think no one would notice? then they made the oh-so-smart play of attempting to stonewall the investigation... now they're crying about it... boo fucking hoo... omg, it's so unfair, you're going to disrupt the global banking system... well, whose fault is that you fucking frog? you've been doing nothing but trying to undermine it since you crawled out of the Parisian sewers in 2000, it's in your nature so don't point a finger when three point back at you...

sorry Charlie, you get a license to operate in the US, you're subject to US law... that means do-not-trade etc. and all the things that go with that... don't like it? don't do business in the US... good luck with getting a bank to not do business in the largest economy in the world, you may as well tell a junkie he can't have crack... won't happen...

Sat, 07/05/2014 - 10:41 | 4926405 Bdelande
Bdelande's picture

As if you have the moral authority to point fingers at anyone gringo.  

 

You must be joking....................LMAO!

 

 

Sat, 07/05/2014 - 15:53 | 4927146 post turtle saver
post turtle saver's picture

BNP doesn't have a single leg to stand on and you know it, which is why you redirected things at me like I was a corrupt French banking operation that got caught red-handed... which I'm not... you're not making a point, please try again

Sat, 07/05/2014 - 09:23 | 4926307 g speed
g speed's picture

Nice post Jack but your wrong----trade with russia has increased since the "sanctions"--  Look closely and your see many of the "punishments" using the dollar are against true world criminal activities--and as such have a lot of world support--

Your contintion that US world power is because of the dollar is suspect because if that were true the US hegomony would be on the rise---facts show that it is not and that the reserve status of the dollar is a drag on the US--the world needs to be supplied with dollars and that hurts the US citizen -big time--and world trade is mostly in arms and amunition anyway-- and the US has a lot of competition in that department-- Thats why the MIC in the US is subsidized to the extent it is--follow the bouncing dollar through Foreign Aid programs to countries that use blackmail to get money from the US through the Export Import Bank and the IMF and industrial zones policies---take a look at Mexico / US relations if you think blackmail isn't an issue--

The dollar is used to support Merchantile countries who need to get ride of worthless shit which ends up in US landfills--the US citizen supports the slave factories because of reserve status of the dollar not because the average guy over here likes to see slavery--

NO --I think the sooner we get out from under reserve status the better. Reserve status is a pox--and it will kill its host--

Fri, 07/04/2014 - 19:34 | 4925706 tony wilson
tony wilson's picture

joan rivers accelerates the demise of the obarme clan.

 

https://www.youtube.com/watch?v=ihP_q6UPUDA

Fri, 07/04/2014 - 19:35 | 4925722 Aussiekiwi
Aussiekiwi's picture

The US would never attempt to Blackmail and Bully a close ally, a country that Obama stated in Feb of this year:

"Standing together and using our freedom to improve the lives of not only our citizens but people around the world is what makes France not only America's oldest ally, but also one of our closest allies," Obama said alongside Hollande from the White House.

Obviously the US does not really want to take Frances freedom away from it and dictate to it what industry it will have, what countries it will sell to and for how much in US dollars, or punitively punish its banks if they do not comply, simply a misunderstanding, if that were true that would just make the US state department a bunch of arses, the saying comes to mind 'with friends like this who needs enemies.'

Fri, 07/04/2014 - 19:37 | 4925727 Banjo
Banjo's picture

On the Russian side why would you buy anything from France given what they did in the Falklands and gave the British disabling codes to their Exocet missiles.

 

Sergie the landing doors are not opening... hmmm ok lets turn this thing around.

 

The more I think about this the more I belive it's just to distract us while our masters work out how to rape us even HARDER. #$@&ers

Fri, 07/04/2014 - 19:38 | 4925728 robertocarlos
robertocarlos's picture

A nuke will go off in Paris...Texas. That's 2 birds with one bomb.

Fri, 07/04/2014 - 19:43 | 4925737 Youri Carma
Youri Carma's picture
France’s Noyer Says BNP May Prompt Shift Away From Dollar

http://www.bloomberg.com/news/print/2014-06-11/ecb-s-noyer-says-bnp-may-prompt-shift-away-from-dollar.html

Fri, 07/04/2014 - 19:47 | 4925747 Dublinmick
Dublinmick's picture

LOL they had better check out Merkel, she is spying on Germany for Rothschild.

Fri, 07/04/2014 - 19:51 | 4925757 Youri Carma
Youri Carma's picture
Germany Holds Alleged Double Agent Cited as U.S. Spy in Media

http://www.bloomberg.com/news/print/2014-07-04/germany-holds-alleged-double-agent-cited-as-u-s-spy-in-media.html

Fri, 07/04/2014 - 19:53 | 4925759 Sorry_about_Dresden
Sorry_about_Dresden's picture

I attemped to transfer funds from dollar account to reminbi denominated account but, the functionality of the BOC software asked me to try later. Gone from 625 bp+ to 620 bp. I suppose the usd and reminbi might reach parity much faster than I assumed.

I might put 15% in reminbi and tips.

This scam might collaspe in five more years or tomorrow?

 the BIS, Lagarde and the FRBNY funkies (Yellen) m7ght shank us at any moment!

They will short...it iz just a matter of time.

 

 

Fri, 07/04/2014 - 20:26 | 4925809 kowalli
kowalli's picture

This scam might collaspe in five more years or tomorrow?

> less than 2 years. Events go too fast to predict more precisely

dollar can loose its value pretty fast, we don't know how fast countries will change all to no-dollar

Fri, 07/04/2014 - 21:32 | 4925888 Sorry_about_Dresden
Sorry_about_Dresden's picture

You never know!

I shorted the snp in oct 2011 and I got clocked cleaned by qe.

They can do this for 10 more years and they won't lend me zirp!

I consider rmb as cash. I made a nice % in the since 2007 in arbitrage. 

I just save my money and try to preserve for ten year bonds at 15%.........I remember the late 1980's

Sat, 07/05/2014 - 00:36 | 4926055 BobTheSlob
BobTheSlob's picture

I just save my money and try to preserve for ten year bonds at 15%

Yeah right...15%. FTyourstupid.

Fri, 07/04/2014 - 20:05 | 4925772 Dublinmick
Dublinmick's picture

Richard Mellon Scaife finally dead at 82

Fri, 07/04/2014 - 20:41 | 4925830 robertocarlos
robertocarlos's picture

He bank-rolled Nixon and Reagan. I think he committed suicide the day after his 82nd birthday. He was terminally ill. That would have been a good party.

Fri, 07/04/2014 - 22:29 | 4925952 Sorry_about_Dresden
Sorry_about_Dresden's picture

The Dulles brothers, Prescott Bush, Union Bank, and Thomas Mckitrick of the Bank of International Settlement bankrolled Nixon in the 1946 election because Nixon had evidence; through his position in the Navy reveiwing NAZI documents, that all of the above were trading and laundering looter assets for the Reichsbank I.e. Hitler, throughout the war.

Fri, 07/04/2014 - 22:37 | 4925963 August
August's picture

>>>all of the above were trading and laundering looter assets for the Reichsbank i.e. Hitler, throughout the war.

But... that's what the BIS is for!

Fri, 07/04/2014 - 22:59 | 4925981 Sorry_about_Dresden
Sorry_about_Dresden's picture

That's why I included the BIS in my comment above.

At least Merkel is EAST GERMAN! She will never turn on Moscow.

Fri, 07/04/2014 - 20:22 | 4925805 Dublinmick
Dublinmick's picture

Florida Everglades being acid fracked by a Turk who lives in Sweden.

 

http://nightlycitizen.com/2014/06/30/foreign-takeover-of-lee-county-dril...

http://preserveourparadise.org/

Fri, 07/04/2014 - 23:43 | 4926017 COSMOS
COSMOS's picture

Its ok we will really frack the crap out of Ukraine, so that more than offsets the harm the Turkish dude will do

Fri, 07/04/2014 - 20:31 | 4925816 WTFUD
WTFUD's picture

Amurika is that punch drunk boxer coming out of retirement for the 3rd or 4th time and refusing to listen to even his loved ones who now sit around his bed hoping he will come out of that comatose state.

Fri, 07/04/2014 - 20:56 | 4925850 Dublinmick
Dublinmick's picture

What worries me is a nagging feeling that America is being set up just like Germany when Hitler was installed on behalf of Rothschild, (yeah he was a Rothschild) and will be attacked by a colition of very pissed off nations. Germany was the fall guy for the Israel project, the destruction of Germany on behalf of the queen's banker and the rise of Bolshevik Russia who were financed by many of the same bankers.

If you have ever seen pics of a burned out Dresden, hope that is not the plan this time around.

American "exceptionalism" is not too different from the "master" concept Germany was inculcated with.

Fri, 07/04/2014 - 21:41 | 4925898 Sorry_about_Dresden
Sorry_about_Dresden's picture

Not really!

I figure Stalin could have killed every NAZI in Europe.

We were duped.

Eisenhower shipped the NAZI bastards to the USA and let the NAZI put a man on the moon,  build waste water treatment plants, and the interstate highway system.

NAZI bastards are still running the show.

 

Sarc/ off

Fri, 07/04/2014 - 22:00 | 4925910 Dublinmick
Dublinmick's picture

You are exactly right Dresen, with the exception the moon landing was staged outside Yuma, Arizona, El Centro Cali in the sand dunes.,

Eisenhour who was known at West Point as the terrible Swedish Jew, also brought back a Rottweiler pup from Germany as well as Paperclip. Rotts are known as the master canine. Don't get me wrong great dogs as I used to breed them.

Fri, 07/04/2014 - 22:51 | 4925973 Sorry_about_Dresden
Sorry_about_Dresden's picture

Eisenhower sold out every GI. American conscripts did every shit job there was dieing for the Queen.

We got Omaha beach and the Canadians strolled on to lightly protected beaches.

We even got shafted during Market Garden as British tanks waited 10 km. from the objective while the NAZIs slaughered our paratroopers holding the West side of the designated bridge head.

Roosevelt helped plan Pearl Harbour as the deputy secretary of the navy after WWI. He helped arrange a 20 million dollar loan to the build the Jap Navy in the 1920s and they used it against us in 1941.

We could have saved a lot of treasure by letting the Russians take out the FACIST and the Japs. The Russians will eventually rule Western Europe unless the Germans stop them.

 

Bunch of bastards! The whole lot. Let the f-ing royals fight their own wars. American suckers will never learn.

 

They tell you you are going to fight fascism and fascist end up running the USA.

Go figure. Always dieing to make the money changer filthy rich.

Fri, 07/04/2014 - 23:06 | 4925987 Dublinmick
Dublinmick's picture

Dresden Canadians know they are arch royal mason bend over boys and therefore protected. Americans are clowns of the queen also but lower on the list and the do not evebn realize it.

There is no hope for a people who thought that had defeated the crown in the revolutionary war 200 years ago but still allow the enemy to create and print the money. I am sorry but we Americans are idiots. The queen's retarded cousins still print the money and assume most all of American leadership positions. Americans do not realize this and will forever refuse to accept it. We are doomed, our possible allies are idiots. They have been smoked woth GMO, Fluoride, MSG,vaccines.(see autism statistics) yellow journalism  and ........................... the list is endless you get the picture.

Sat, 07/05/2014 - 00:08 | 4926030 UselessEater
UselessEater's picture

Thank you...tried saying it more than once, the sun still does not set on my Queenie's empire, just the way she likes it.

Fri, 07/04/2014 - 23:10 | 4925991 Sorry_about_Dresden
Sorry_about_Dresden's picture

Down arrow?

You just figured out your Grampa died  to make a lot of bankers rich?

Oh yeah......I forgot to say they killed Kennedy too!......Nixon's "Bay of pigs thing". THEY HAD GHW Bush, for/as CIA, set up the crossfire.

Sat, 07/05/2014 - 00:32 | 4926050 BobTheSlob
BobTheSlob's picture

Let me suggest that you see a psychiatrist. Fascist...yep the US is there. But stop with the stupid already.

Fri, 07/04/2014 - 21:13 | 4925872 jack stephan
jack stephan's picture

Played this before but this isn't France day it's the small joy America day fuck you France, I fucked your bimbos anyways on a train with a guy searching, and he only found her after mwahahahaha

http://www.youtube.com/watch?v=0KaWSOlASWc&sns=em

Fri, 07/04/2014 - 21:26 | 4925882 AMGdesignnl
AMGdesignnl's picture

Not you people ... but as a country America suck big time :D

Fri, 07/04/2014 - 21:40 | 4925894 drendebe10
drendebe10's picture

Its not the country, it's the gummint, elected ruling turds & bueaucrats.. doesn't take an academic economist to figure that one out.  The problem tho is yhe sheeple who enable it just like in Nazi Germany and countless other times thru history.

Sat, 07/05/2014 - 03:36 | 4926153 Rosie-Redknapp
Rosie-Redknapp's picture

It's the same in most of the countries of the world , when it comes to voting you get the choice of cow shit, horse shit or pig shit ......it matters not who gets elected .....you ended up with shit.

You cannot generalise about a nations people based on their representatives in government.

There are good people and bad people in all countries.

I know no-one who posts here personally but I get the feeling 80% of us are like minded and the other 20% are the trolls you get on any forum.

When the SHTF I imagine the internet will "fail" as well cutting us all of from each other and information.

Its a near impossible situation , if you try to help others locally they think you have lost the plot.

All you can do is stack PM, food , seeds and protection.

Here in the UK I am having to resort to buying a nail gun and nails as a form of defence so those in the US are luckier in some respects.

I have family living near Vegas , which in my opinion is doomed , however they are good hard working decent people who will not deserve what's coming to them ....

Sat, 07/05/2014 - 20:36 | 4927719 PhilofOz
PhilofOz's picture

"Here in the UK I am having to resort to buying a nail gun and nails as a form of defence so those in the US are luckier in some respects."

That is not a bad idea at all. With the gun laws in Australia really making it impossible to defend your home when the shit hits the fan this seems like the best alternative available. I don't know anything about them but it seems time to quickly learn.

Fri, 07/04/2014 - 22:54 | 4925979 Dublinmick
Dublinmick's picture

Well yes AMG we have a lot of problems in America. It is good we can at least engage on the internet and lay it out in the open.

Sat, 07/05/2014 - 00:29 | 4926047 BobTheSlob
BobTheSlob's picture

When we implode, you'll be sucking for sure. Whatever will pay five dolla. Pucker up imbecile.

Fri, 07/04/2014 - 21:41 | 4925895 buzzsaw99
buzzsaw99's picture

if france fined the big usa banks i would lmao. as it is i lmao watching the comments from french people outraged that someone is fining their banks. god the french must love their bankers and politicians and debt based monetary system dearly. listen up frog boyz, you are in the same debt-pot to boil that we all are so save your outrage for the maggots.

Sat, 07/05/2014 - 07:15 | 4925919 Angry Plant
Angry Plant's picture

Its all just talk until we see the credit rating agencies issue the massive downgrades based upon companies converting dollar transactions to non dollar transactions. Doing that conversion reduces ability of those involved to pay back debt that they owe in dollars and ability to borrow in dollars for future projects. The current system runs on debt. Its all about debt and more debt to pay off the old debts as they come due. That is the only thing propping up the current system. Without constant new infusions of debt most western and asain corporations would quickly enter serious financial crisis. Massively indebted companies like BNP and ones looking for massive amounts of capital to fund projects like Gazprom wont be the ones leading the way to a non dollar world. You need some net creditors to bankroll non dollar trading for it to be credible. Otherwise the financial system will simply banish the companies that dont take payment in dollars because of the impact on there ability to repay debt. Gazprom could have been a net creditor bankrolling change but Putin funds half of Russian fedral governments budget of energy exports so Gazprom will have to borrow huge sums of dollars over the next couple of decades in order to finance new projects.

Fri, 07/04/2014 - 22:35 | 4925960 Rootin' for Putin
Rootin' for Putin's picture

If you like your trades all in USD you can keep your trades all in USD.

Oh wait, no one likes the USD.

Fri, 07/04/2014 - 22:54 | 4925978 iAmerican
iAmerican's picture

Please stop misusing the term "Exceptionalism" with regard to America, particularly on Independence Day: it refers to the People's ("of all nations of the world" "E Pluribus Unum") divine right of Individual Sovereignty under the Creator of the universe alone, our named Sovereign.

The Great Seal is actually The Great Seal of the Covenant of the People with God...our credal civil religion's "other" name is "American Exceptionalism."

This is why Rome's papist/monarchist tory bankers, assassins, and Talmud false Jew minions shall otherwise be doomed for the Anti-Christ Fifth Column "Beast" they are, whose "Wall Street of slavery" at Rome for over 2,000 years was interrupted by American Exceptionalism.

Though having killed John and Martin, and yet at large after committing 9/11, they are now, rebadged as the New World Order, staging the psyops shooting and bombing hoaxes to gaslight, disarm, and enslave us as their money scheme and flood of illegals seeks to bankrupt us. 

The People of America is the final "stopper" in Satan's "Shoot the Moon."

Happy Fourth

Death for Treason 

Sat, 07/05/2014 - 00:27 | 4926044 BobTheSlob
BobTheSlob's picture

Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

Fri, 07/04/2014 - 23:17 | 4925997 Dublinmick
Dublinmick's picture

"Anti-Christ Fifth Column "Beast" they are, whose "Wall Street of slavery" at Rome for over 2,000 years was interrupted by American Exceptionalism."

For sure

Sat, 07/05/2014 - 01:10 | 4926083 Dublinmick
Dublinmick's picture

ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ              

Fri, 07/04/2014 - 23:32 | 4926008 Rootin' for Putin
Rootin' for Putin's picture

Good for them, let the US economy try to stand on its own two feet with its massive exports of.......

........

I got nothing.

Fri, 07/04/2014 - 23:42 | 4926016 Dublinmick
Dublinmick's picture

This is why Rome's papist/monarchist tory bankers, assassins, and Talmud false Jew minions shall otherwise be doomed for the Anti-Christ Fifth Column "Beast" they are, whose "Wall Street of slavery" at Rome for over 2,000 years was interrupted by American Exceptionalism.

Though having killed John and Martin, and yet at large after committing 9/11, they are now, rebadged as the New World Order, staging the psyops shooting and bombing hoaxes to gaslight, disarm, and enslave us as their money scheme and flood of illegals seeks to bankrupt us. 

The People of America is the final "stopper" in Satan's "Shoot the Moon."

True but they are not up to it.

Humans are immense, they have many allies but very few in America. We are at the end of the Kali Yuga, it is not going to be pretty. Our gold and silver cannot leave the planet with us, only our consciousness. It always ends this way. Your retirement account is your consciousness.

http://www.seri-worldwide.org/id435.html

Sat, 07/05/2014 - 00:00 | 4926027 Dublinmick
Dublinmick's picture

The dark can only be transformed when confronted with simplicity and open-heartedness. This is what leads to unity, a key concept for the World of the Fifth Sun.

This seems to me what Putin is offering, the open hand before war. It of course will not be accepted.

http://www.seri-worldwide.org/id435.html

Sat, 07/05/2014 - 03:56 | 4926162 smacker
smacker's picture

The Fourth Turning.

Sat, 07/05/2014 - 00:29 | 4926046 tumblemore
tumblemore's picture

it's hard to tell if they're deliberately trying to screw everything up or if they're just desperate and so keep making mistakes

Sat, 07/05/2014 - 01:15 | 4926059 Dublinmick
Dublinmick's picture

New pipleines coming, South stream, Austrians awake.  Yeah you need gas in a frozen hell. Russia has it. ..... y up

 

Yes America soon to be put down like a mad dog, It will be sudden, Probably chips in all american products produced by China will no longer be operative. Could be solar flare however, (America does not account for that shit) Our chips won't be operative.

 

Welkommen to the new world order Americka

Sat, 07/05/2014 - 00:43 | 4926065 Tabarnaque
Tabarnaque's picture

Bravo! Vive la France!

Sat, 07/05/2014 - 01:06 | 4926080 Dublinmick
Dublinmick's picture

Let's pop some cracker

Sat, 07/05/2014 - 01:37 | 4926096 Dublinmick
Dublinmick's picture

Great holliday m>>>>>>>>>>>>>>>

Sat, 07/05/2014 - 01:42 | 4926106 Dublinmick
Dublinmick's picture

Let's get trendy

 

The "French" privot

Sat, 07/05/2014 - 01:44 | 4926108 Dublinmick
Dublinmick's picture

I-T-E-N-T-S-I-T-Y

Sat, 07/05/2014 - 01:51 | 4926111 LostandFound
LostandFound's picture

So this is either a consequence of US arrogance and exceptionalism, or this is by design?

The more i understand about the geopolitics the more i start leaning towards collapse by design. 

No one can be that stupid as to not forsee this response

Sat, 07/05/2014 - 06:24 | 4926191 NoWayJose
NoWayJose's picture

I actually agree with fining the French bank - they were caught red handed and are guilty. The problem is that we have lost any and all moral high ground because we do not punish US banks (or bankers) for clear violations, the timing is bad making it look like destroyer retaliation (which it is), and lastly it is because we have muddled foreign policy just about everywhere in the world based on commanding other countries to do it our way rather than any compromise or negotiation.

Sat, 07/05/2014 - 06:35 | 4926197 AdvancingTime
AdvancingTime's picture

This appears to be another misstep that will damage our relationship with a friendly nation. It appears a struggle is occurring to unseat America as the worlds most dominate nation. For many proud Americans who see the world from the unenlightened and possibly undefendable position of the United States having a right to be in control it is both threatening and frustrating to see control slip away.

It is threatening to think the country might quickly fall to the position of a second rate power mired in debt with many of the options we have come to see as our right suddenly ripped away. It is frustrating that in many ways the country has become its own worse enemy guilty of political inaction and squandering its power through a series of bad choices and missteps. More on this shift in power and our best response in the article below.

http://brucewilds.blogspot.com/2014/06/americas-struggle-to-stay-on-top....

 

Sat, 07/05/2014 - 06:45 | 4926199 AdvancingTime
AdvancingTime's picture

The dollar is being damaged by 17 trillion cuts! The deficit cannot be ignored. We  are all interconnected for better or worse. A bad apple can spoil the whole basket. Welcome to the world our leaders have designed or allowed to form. Whether by design or merely as a byproduct of globalization we have weaved a web of financial transactions that circle the globe. Over the last several years as money was printed by the central Banks it was not contained in the countries where in was printed.

This money flowed across borders influencing and distorting markets and prices across the world. Some people have been calling for a "world currency" for years. the saying "one should never let a good crisis go to waste" means that a meltdown with high levels of fear would present a perfect opportunity and catalyst to advance this agenda down the field. Remember many people with agendas have a lot to gain when a major shift in the currency markets takes place. More on this subject in the article below.

http://brucewilds.blogspot.com/2014/02/contagion-may-lead-to-new-world-c...


 

Sat, 07/05/2014 - 07:16 | 4926216 jubber
jubber's picture

I have been hearing this US $ collapse argument for years now, and I'm sure it would have happened if the rest of the world were not in just as much shit , if not more than America.

According to oliver Sakozy the ex Presidents brother he thought the EU were in the shit for 30 Trillion Euro, Japan as we know are past the point on no return , and the Chinese although supposedly cash rich have printed many times as much as the Fed.

UK is £10 Trillion in the hole and too small to be any use ...so as far as I can see the US $ is here to stay as there is no other currency fit enough to replace it

....so as far as I can see all Fiat must devalue in unison rather than the US$ exclusively, and you would have thought that Gold would increase further in value,... however as the CB's collectively run everything, unless one of these major Central Banks turns rogue and upsets the applecart, this Ponzi scheme continues ...until either. 1. A massive Oil spike, 2. War,( which would likely be the reason for 1). or a black swan event, likely to result in 1. & 2. combined.

 

Sat, 07/05/2014 - 12:27 | 4926610 Seeking Aphids
Seeking Aphids's picture

There is no one currency fit to become the global reserve currency but that does not mean that the $US will continue to be the RC. Much more likely that China and Europe will continue to promote their currencies for trade and that the $US will be relegated to 'major currency' status. 

Sat, 07/05/2014 - 14:20 | 4926931 supermaxedout
supermaxedout's picture

Very soon, there is no need for a reserve currency anymore. All jurisdictions having agreed with China on a fixed currency exchange rate will soon need no more "reserve currency" except gold, despite Mr. Bernankes statement, that gold is no money.  The Chinese do establish , one after the other, bilateral agreements for a direct currency exchange system at a rate agreed by both sides. The latest such agreement was between South Corea and China last month. All important countries, except the US do have already such an agreement with China. For understandable reaons the US is the only country openly opposing the establishment of a new currency order.

China has also such an agreement with Euroland, determinating the value of the Yuan in Euro and vice versa.  But then we have a situation, that the Euros exchange rate towards the Won (South Corean currency) is also determinated.  1 Euro = x Yuan; X Yuan = Y Won.

So if Euroland needs Won it only needs to pay directly in Euros the correct calculated amount to get Won. And vice versa. The South Koreans can buy Euros directly with their currency at a rate determinated also by their bilateral agreement with China.

So the Central Banks can settle their external obligations simply by paying in their own currency.  

A reserve currency is only of advantage when there is a lot of volatility in the system, which is system immanent within the present US Dollar reserve currency system. To maintain the Dollar system volatility is essential.  The reserve currency can protect from extreme volatility.

This will be all different in the future since usually the exchange rates are going to have a fixed value for a defined period of time.

But there has to be of course a reserve currency which is setting the rules,  The world (at least the biggest part of it) does not want to have a system comparable to the present US Dollar system. Thats why it is not going to happen, that China is going to set the rules as the US did while they dominated the world.

No, the new reserve currency is going to be the old one: Gold 

Gold is becoming indirectly the measurement unit for all currencies.  Thats why China is accumulating gold as well as all other central banks in the world.

 

Sat, 07/05/2014 - 08:19 | 4926223 Peter Pan
Peter Pan's picture

Noyer and Hollande will be blackmailed, bribed or compromised.

The vessel the Russians are getting will either be booby trapped or bugged.

the only thing that will bend the USA is for nations of the world to keep on placing orders to buy gold in the USA with US dollars and to then ship it out.

Sat, 07/05/2014 - 07:57 | 4926239 lakecity55
lakecity55's picture

Gaybama was ordered to fine the bank, so as to hasten diversification away from the dollar.

The fine was done intentionally to weaken the dollar.

Every single order from TPTB to every politician in DC is designed to accomplish that goal.

Sat, 07/05/2014 - 08:05 | 4926248 besnook
besnook's picture

wouldn't it be historically neat if france started the run on the dollar like de gualle did the first time in 1970?

the dollar looks like it is still a long ways from being replaced but the perception is gathering that the dollar is too much trouble when there are alternatives emerging that can circumvent the greenback. currency collapses tend to happen fast like the asia crisis in 1997, ussr in 1991 and even the dollar devaluation in 1987(which set in motion the slow motion collapse of japan). so hang on to your assesets. the zimbabweization of the usa is still in the cards.

Sat, 07/05/2014 - 08:26 | 4926267 kw2012
kw2012's picture

This was all avoidable. It's also unintentional. Either Obama is trying to destroy the dollar or he has delusions of grandeur 

Sat, 07/05/2014 - 10:04 | 4926355 iAmerican
iAmerican's picture

Homobama is a servant of Satan's Vatican banker Rothschild/Rockefeller Talmud/papist fascist Fifth Column...which seeks to destroy America.

Sat, 07/05/2014 - 10:48 | 4926415 CHX
CHX's picture

double

Sat, 07/05/2014 - 10:47 | 4926416 CHX
CHX's picture

And for a CHANGE, he seems to be the first to actually succeed properly at it. I'm very HOPEful.

Sat, 07/05/2014 - 12:30 | 4926624 hootowl
hootowl's picture

Don't you get it yet?

Ovomit's assignment is to weaken/destroy the U.S. in every way possible....as quickly as possible.

Hildebeest, or her replacement will finish the job and issue the coup de grace.

The problem isn't the progressives in office.  The problem is with the nesters and parasites that elected them and the NWO impresarios that selected them......Rinos and Demoncraps alike.

Sat, 07/05/2014 - 10:02 | 4926352 Marley
Marley's picture

Oh no! Not the mighty dollar.  It's only a child.

Sat, 07/05/2014 - 10:09 | 4926361 vpanand6
vpanand6's picture

"Meanwhile, somewhere Putin is still laughing" 

 

Awesome finishing touch by the Author Tyler Durden

Sat, 07/05/2014 - 10:12 | 4926367 FreeBull
FreeBull's picture

If you haven't yet....You may want to cover your ass.....ets

http://goo.gl/#analytics/goo.gl/EVx8sM/all_time

Sat, 07/05/2014 - 11:12 | 4926455 tony wilson
tony wilson's picture

A leaked memorandum from the RAND corporation think tank suggests that Kiev should engage in an all-out war in the eastern regions, including shutting down all communications, putting citizens in internment camps and killing all who resist.

 

http://the-tap.blogspot.co.uk/2014/07/rand-corporation-plans-hell-on-ear...

Sat, 07/05/2014 - 14:45 | 4926992 Chuck Knoblauch
Chuck Knoblauch's picture

Kiev or Washington?

Sat, 07/05/2014 - 15:41 | 4927117 medium giraffe
medium giraffe's picture

Kiev chicken.  MIC love emerging markets.

 

 

Sat, 07/05/2014 - 12:17 | 4926587 SanfordandSon
SanfordandSon's picture

Seems to me this point is connected all the way back to the beginning of the Obama Presidency when he did his great Apology Tour and thus showing that one major reason and goal he had was to reduce the position of the United States in the world community - that other countries could "escape the tentacle of global "pax Americana.""

Sat, 07/05/2014 - 13:10 | 4926733 world_debt_slave
world_debt_slave's picture

just another step in the grand scheme to usher in the one world government.

Sat, 07/05/2014 - 14:44 | 4926991 Chuck Knoblauch
Chuck Knoblauch's picture

The demise of the dollar is the objective you silly goose.

Why do you think it's not???

Sat, 07/05/2014 - 15:34 | 4927097 medium giraffe
medium giraffe's picture

FATCA = capital flight.  If you can't see that, you aren't paying attention.  This BNP story is just a further catalyst for the inevitable.  And yes, I do think it is being done deliberatly.

 

Mon, 07/07/2014 - 08:38 | 4931211 StrikerMax
StrikerMax's picture

Nice ... very good to know those "at the Helm" know what tghey are doing ... I think it's time for the US population to realise this govt must be stopped and Obama Can not reach the end of his term on a High risk of even larger problems ahead.

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