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G-20 Revolt? France Gets "Positive Reception" To Challenge US Bank Fines
In recent weeks France has defied US demands not to build Mistrals for Russia, has questioned dollar imperialism and the Petrodollar, and has blasted the US banking regulator's fines as "accelerating the decline of the dollar." So it is likely not a huge surprise that ahead of the G-20 meeting of world leaders later in the year, The FT reports, France has gathered support to challenge US regulators imposing heavy penalties on foreign banks. Berlin, London and Rome have backed Paris in its push to have its concerns about so-called US extraterritoriality discussed when leaders of the world’s top 20 economies meet hoping to bring "more proportionality" to bank fines. With allies like this...
As The FT reports, top regulators have been raising concerns about the impact of the long procession of fines on their efforts to strengthen banks’ finances.
France has gathered support to challenge US regulators imposing heavy penalties on foreign banks at a G20 meeting of world leaders later this year after the record $8.9bn fine levied on BNP Paribas last month.
Berlin, London and Rome have backed Paris in its push to have its concerns about so-called US extraterritoriality discussed when leaders of the world’s top 20 economies meet in Brisbane in Australia in November, according to French and other European officials.
...
“There should be co-ordination between regulators, as there should not be multiple jeopardy,” agreed one senior European official, who confirmed that there had been “informal discussions” about putting the issue of bank fines on the G20 agenda.
“It is an issue, but we have to be careful not to go into an area of saying ‘it is too much and we have got to lay off these guys’,” said the official, who added that the G20 could discuss how to bring more “proportionality” to bank fines.
French finance minister Michel Sapin sought support for France’s stance in recent meetings with Wolfgang Schäuble and Pier Carlo Padoan, his German and Italian counterparts, according to French officials. There was a “positive reception”, one said.
...
In Berlin, officials said Germany had agreed to back Paris, saying it supported a common EU approach to the US over extraterritorial jurisdiction. Berlin sees that a union-wide approach to Washington is more likely to bear fruit than case-by-case discussions.
As a gentle reminder, Brazil, Russia, India, China, and South Africa are all members of the G-20 and, we suspect, would not be too worried backing any such coordinated actions against US extraterritoriality.
However, we leave it to the French to express their anti-dollar-imperialism...
- 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.
- Total’s de Margerie Sees No Need for Dollars in Oil Purchases
Oil major Total's chief executive Christophe de Margerie was responding to questions about calls by French policymakers to find ways at EU level to bolster the use of the euro in international business following a record U.S. fine for BNP.
"There is no reason to pay for oil in dollars," he said. He said the fact that oil prices are quoted in dollars per barrel did not mean that payments actually had to be made in that currency.
So even a major beneficiary of the status quo appears to see the end in sight for the Petrodollar.
And now The Triple Whammy
- *FRANCE SAYS INCREASING EURO USE IS ISSUE OF 'GLOBAL BALANCE'
- *SAPIN SAYS EURO AREA NEEDS TO LEAD DISCUSSION ON DOLLAR USE
- *FRANCE NOT FIGHTING 'DOLLAR IMPERIALISM,' SAPIN SAYS (wo shy mention it?)
French Finance Minister Michel Sapin says that now is the right time to bolster the use of the euro in transactions outside the U.S. Sapin speaks in an interview with Bloomberg News in Aix-en-Provence, France.
“We sell ourselves aircraft in dollars. Is that really necessary? I don’t think so,” Sapin says, adding "I think a rebalancing is possible and necessary, not just regarding the euro but also for the big currencies of the emerging countries, which account for more and more of global trade."
“We can avoid the exchange rate risk, and that’s always useful. We can diminish financing costs in pricing more in other currencies,” Sapin says.
“This is not a fight against dollar imperialism,” Sapin says.
“It’s up to Europe, to the euro zone in particular, to lead this argument,” Sapin says.
As The FT reports, Mr Sapin said he would raise the need for a weightier alternative to the dollar with fellow eurozone finance ministers when they meet in Brussels on Monday, although he declined to go into detail about what practical steps might emerge.
As we joked previously, nope - no anti-dollar-imperialism here at all...
* * *
As we showed recently...(and have ever since 2010)... nothing lasts forever
Meanwhile, somewhere Putin is still laughing.
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round the bitches up and send um ta GITMO
The last FT link ain't working Tyler.
Vas te faire encule Barry!
Et nous pète dans votre direction générale!
http://www.youtube.com/watch?v=QSo0duY7-9s
enculer, ER, infinitif.
anyway, nice try, we still get the message lol
always funny for us to see foreign ppl trying to use insults with our words. you bring us exotics. very pleasant, kinda fresh.
"""barry met-toi à genoux et suce moi les couilles, sale tafiole* """
( * just in case google cannot translate, tafiole, argotic word = faggot - mostly used in south of country around mediterranean border )
"Now go away, or I shall be forced to taunt you a second time-ah!"
Fuck you too barre for being such a typical French prick about us "foreign ppl" being so funny trying to use French (from Google translate ) for some humor because we don't use perfect French
No wonder France has a horrible reputation for tourism:
http://www.news.com.au/travel/travel-updates/french-plan-to-become-touri...
BTW: I worked at Airbus way back when and know all about the shitty attitude there.
And here's a typical technical presentation by the French engineers at Airbus about their latest deelopments:
http://www.youtube.com/watch?v=CVJ-W6LioB8
You people deserve each other.
Fetchez la vache!
Who is this "Wo Shy" who mentioned it and what do the Chinese have to do with this.......;-)
I fart in your general direction...
Tabernac!
Oil prices must be are quoted in parts of ounces Gold or in grams Gold per barrel.
It is proper that banks pay fines when they have broken the laws. But there is a danger that bank fines could be seen as political moves with indirect motivations.
In order that this does not occur there should be a G20 agreement that nations be compensated for the punishment of international banks. Thus, in the case of BNP Paribas the $8.9 Billion fine levied should be collected by the USA Federal government and then an equal amount of money $8.9 Billion (basically the same money) paid by the US Federal Government to the Government of France. This would ensure hat the rule of law is upheld, banks are punished for lawbreaking, but country to country animosity is not created since fines will go to the country of the bank's owners, not the country of the bank's customers.
My last pay check was $9500 working 12 hours a week online. My sisters friend has been averaging 15k for months now and she works about 20 hours a week. I can't believe how easy it was once I tried it out. This is what I do... http://goo.gl/bhiamE
You do know, I assume, that while you're online I'm banging your wife. Twelve hours a week.
Mucky Minge eh?
How do you suppose he 'earned' $9,500? You did the work, and he posted the video of you and his wife.
Mon ami sœurs a été en moyenne de 15k depuis des mois maintenant et elle travaille environ 20 heures par semaine. Je ne peux pas croire à quel point il était facile avant sa cavité prolapsus rectal.
LOL!!!!!!
How do we get this BS banned? All there post r the same Spam BS.
It's the NSA hoping that the weak minded will click on it
It's all fun and games until someone's fiat gets hurt.
The US is drunk-driving its Fiat through the streets of Paris.
Drunken Fiat will end up inseine.
With Vote for Chrysler Merger, Fiat Looks Abroad - ABC News
Driving in Paris would make any half sane driver stay away from drink.
You really need your wits about you when everyone around you is drunk!
Will it become the G19 and the G6 as America is put in the penalty box?
Penalty box implies they will let you play, later.
Even Europe is raising up against Bank Lobby now.
Watch for bullets on executives heads of banklobby.
Reminder of the Suicide Jihad Belt that banklobby has worn:
http://cdn.theatlantic.com/static/mt/assets/meganmcardle/banklinks.jpg
It seems that bank lobby won't surrender to Neocons without real blood being shed.
Watch out, my fears may come out true.
History shows that when ultra elite is in civil war and no power sharing occurs, bullets, knives and machetes fly on heads, very unfortunately, very unfortunately.
I fear, I fear that might happen.
It's probably not helpful to US ambitions in Ukraine to go pissing off the EU and uniting them against the US. But what do Barry and Lurch know about actually getting shit done?
All Barry cares about is to make money to Warren Buffett so Buffett guarantees his family's income for decades to come.
The rest? Nobody cares. He doesn't care
Obama and Buffett chose to war against Neocons.
I don't think anybody can beat neocons forever. They will hit back sooner or later
Beyond digusting. Our leaders are indolent children as are the banksters. Kids on the playground. EU unites against US only because another bully has come along that looks like they have a more powerful future. No one is indignant about what we are up to. They back our play until it does not serve them any more, then they profess to be indignant when we look like clear losers. They all know US/Kiev story (as in US did it [de plane boss, de plane]). They all lay in wait to see how the cards play out. Shooting a plane out of the sky? No real outrage. We will only see them express outrage when it suits their goals. Before that? Gosh the US fooled us too! Bankstering is the same.
Very well put.
This is merely escalation of a plan that was put into place and executed on 9/11... Bush and now Obama are clowns for the people's entertainment, while TPTB implement agenda 21... Open borders and integration of societies is the order of the day, along with de-population... Everything else is subtrifuge...
The zionist neocons are driving the ship, right into a reef intentionally... The ebola outbreak is no coincidence, nor is the default in Argentina, the invasion of Ukraine, Syrian intervention, ISIS, Iran nuclear capability, Chinese expansion and on and on and on... Act II has just begun...
"The ebola outbreak is no coincidence, nor is the default in Argentina, the invasion of Ukraine, Syrian intervention, ISIS, Iran nuclear capability, Chinese expansion and on and on and on.."
You forgot to mention the flat tire I had the other day. I just knew it was part of a larger conspiracy, dammit!
When the Soviet Union collapsed (an interesting tale, if you do some serious research) I remember saying to my mum, funilly enough, (She's 90 and still an anarchist) that the world would be a worse place now that there was only one bully left in the school yard.
A good observation. When the b and c listers find out where they actually rank, they may just get a little testy
When you have everything, you have everything to lose ~ Lots of People
Calm down.
The article says they got a "positive reception" to a threat... which means they fired a negotiation salvo and are publicly attempting to realign a more mutually "fair" way between central banks to fuck the public.
You act like dollar rejection is some new concept or something and that only select insiders could see it coming. To think important people, or your "ultra elite bank lobby", are looking to scalp anyone else's head but yours is silly. They cut loose ends, not book ends. The entire world Ponzi scheme involves power sharing... World bank, IMF, ECB, Brics.
And I'm not sure exactly what outcome you are setting up to take credit for... But it's outstanding sensationalism within broad vagueness. People dying, to include bankers and token serfs, is a secure prediction as the world PONZI crumbles.
But for anyone to come out and actually say it? not only that, we are hearing this almost daily now. yes folks we must really be in deep shit if the French are finally growing a spine...
What concerns me most is not the demise of the dollar, but what America will do to protect it...
See now this is a post that makes sense. Honest and without the fluff.
And I hear you and I agree for the most part... Things are accelerating. The "next hegemony" is closer.
But it's not that France, or China, or India etc are growing spines... It's that dollar hegemony is weaker, maybe even permissibly weaker.
I believe you are highlighting something that plagues the French in general. They have this tendency to anti this and anti that. They usually highlight problems and criticize but rarely have an actual answer or the power to implement said answer. This isn't intended to be a jab. Just something I've noticed over the years. Maybe this time they will act on it??
This the first time since 1960 that Military Complex is not in control of the Federal Reserve and not in control of congress and not in control of the White House simultaneously.
This is anything but stable situation.
This is totally unstable.
Neocons will hit back, otherwise they will vanish
^ what he said....
Let's examine 'what he said'
"This the first time since 1960 that Military Complex is not in control of the Federal Reserve and not in control of congress and not in control of the White House simultaneously."
- Fluff. I'm not even sure he could make a solid case for whether it was true or not. A strong case can be made that the MIC is made up of large Multi-national corporations and these corporations not only have influence (or even control) over our institutions, but worldwide influence... at minimum have them working on their behalf. Our military is a "global force for good" according to latest propaganda. Seems the marketing department still packs punch.
"The Neocons will hit back, or they will vanish"
- Fluff, narcissistically so.
"This is anything but stable situation."
"This is totally unstable."
- the only thing he said that makes sense but adds no validity to the fluff.
I'm all ears if you have a better handle in it.
:-)
Green arrow for you.
Who claimed I was trying to make a solid case?
I'm just expressing my opinion, or pontificating, if you will.
That is how I read reality now.
This is a lot of fun.
Let's go a bit further than 'what he said'
The Israeli leader advised the Obama administration "not to ever second guess me again"
Given the number of dual citizens wandering about the place, who do you really think is in control here?
Just asking.
Our multinational corporations in collusion with our central banks both symptomatic of a scarcity based profit system.
And you already know the who, so I gave you the what.
You calm down ya old tick hound. If you have it all figured out, you got nothing to worry about ;)
I guess we'll see who's scalps are hanging on the wall when all the dust settles. I've been leaving most of mine in the dirt, but I suppose I'll start taking a little more credit from here on in, for your viewing pleasure of course. I will be keeping it vague mind you, as that how it's done around here. Ambiguity is key you see... For obvious reasons
" bank lobby won't surrender to Neocons "
Tribal overlaps there so strong as to be almost indistinguishable.
Come tae grips, the fine is only a backdoor way of getting some of the funds loaned from the FED BACK.
So is GS gonna start a subsidiary that uses only foreign currency?
Why not
What do you mean by "gonna start?"
Perhaps this could help to end the I.R.S. hegemony tracking down those who leave the U.S.; it would encourage immigration of people from the U.S. instead of the Middle East.
If France doesn't stem the flow of Muslims, Notre Dame "Cathedral" will be a Mosque in 20-30 years.
If not the Algerians who's gonna clean up my hotel coke&cum stains?
Cathedral - Mosque
Two exaples of delusional behaviour.
Not important at all.
Who knows, might become a synagogue.
You can always count on the Frogs to challenge the Seppo's.
GO FROGS GO
In this particular instance I agree with you.
You and your Seppo blab... I can see the oil running off your half bald skull from here.
Very clever to have a Finance Minister whose name can be easily mistaken as a typo of "Spain"
Could've sworn the world was supposed to love us if only we'd elect the Dear Leader Obama. What gives?
I think the rest of planet earth lost patience with him when he was indiscriminately droning innocent people.
Just one name comes to mind....Charles de Gaulle.
He knew how to put America in its place by cashing in dollars for gold.
Now you make me re-think all these attempts AGAINST HIS LIFE all these years back in the 70's
Winston Churchill hated De Gaule, so he must have been an OK guy!
De Gaule, that is.
The only ones blissfilly unaware that the USD is on a precipice are...ordinary Americans.
It is going to be funny. The american french bank is going to get the penalties, the others are backing for their banks not to be fined.
'Americans' vs 'americans'.
Off topic/ I thought you guys could use a little humor in this "batshit crazy" nightmare we're living in. When I read this article, the FIRST person I thought of was AnAnonymous, and it's self righteous Chinisms.
Fisherman transports massive whale shark on truck in China | Mail Online
This pretty much explains why the PBoC balance sheet makes the Feds. look like pikers!
Global Economic Briefing: Central Bank Balance Sheets - peacockfedecbassets.pdf
All I've got is : Nice truck!
lol!
The shark thing was sad and ironic.
the .pdf I'll have to look at tomorrow.
Good luck trying to reason with Obama and Eric Holder, France.
You're a big boy, de Margerie.
If Norway and OPEC wants more Euros, de Margerie can pay/sell in Euros.
If Africa wants Euros, de Margerie can pay/sell in Euros.
If Australia, China, ... wants Euros, de Margerie can pay/sell in Euros.
"...the fact that oil prices are quoted in dollars per barrel did not mean that payments actually had to be made in that currency"
The same phenomenon can occur when a lusty woman expects a hard dick, but doesn't get one. Or a guy expects to get laid, but doesn't. ;-)
In the words of that great philosopher Jagger: "You can't always get what you want...".
It seems payments had to be made in dollars in case of Iraq. It is said Saddam was toppled because he accepted euros for oil. This would also explain in part France and Germany's opposition to the invasion in 2003
We should fuck up France by asking Bernanke to "help" their economy.
OR
Send in John Kerry to negotiate a settlement.
There is always "Freedom " and " Democracy" to bear on the French, should they not fall back in line.
give them hope and change
why you think they been been hitting the phony paper prices of Gold and Silver...
tick, toc...
still stackin and laughin..
The last peaceful option that the US has in its inevitable and accelerating demise as the GRC, is to re-balance the SDR valuation...
From its current and highly imperialistic allocation, that includes only the SDR_4 (USD, EUR, JPY and GBP), to an equitable representation from the G20. See IMF site http://www.imf.org/external/np/fin/data/rms_sdrv.aspx for details
The question is: Will the BRICS or the G20 minus SDR_4 be satisfied with that move, or is it a case of "too little, too late"? Of course, as long as the US and its USD keep acting as the Global Bully, even the 'partners' in the Euro won't care, since they will get a better deal and less grief w/o the US.
Whether we are headed for a peaceful Currency Reset (USD loses its GRC status, in favor of a basket of Regional Reserve Currencies), or if we are headed for War as a cover and excuse for said Reset, depends largely on what the Globalists/Zionist think they can achieve via the latter. The G20 (minus the US) are there to hopefully make it clear to the US (and its Globalist/Neocon/Zionist Cabal), that peace is their only viable option in the Currency Reset.
Unfortunately for "The Little People", sacrifices and theatrics may have to be made in multiple global locations, to distract the Sheeple of the World as to what's really going on and who the real villains are. It's SOP and "Same as it ever was" -- when you're dealing with raw power at this level, and the egos, wealth and lifestyles behind this power.
Mes amis, please read fhe exceptionalism clause.
Not sure what this means -
But every time I see G20
I always think 10MM Glock :)
Glockenspiel? Glock 'n Spiel?
So where is the straw, in the straw stack, on the camels back?...
#thedaythedollardied
U.S. on the world's shit list. That will be fun. Do I hear the sound of Putin laughing?
President Barack Obama dismissed Russia as a nation that "doesn't make anything" and said in an interview with the Economist magazine that the West needs to be "pretty firm" with China as Beijing pushes to expand its role in the world economy.
http://news.yahoo.com/obama-russia-doesnt-anything-west-must-firm-china-...
They've also denied it was their Full Retard Trichet who blew up the whole EU too!
I FART IN YOUR GENERAL DIRECTION!
Sanctions against France? Ban Fois Gras!
De Galle kicked NATO (SHAPE) out of France that is why it is in Belgium Mons and Brussels.
Hollande is probably looking for his brave pills before the G20 as he is being set up by Cameron and Merkle to go up against the bully.
I wonder what Mr Putin can offer him, or will the Chinese make Hollnde an offer he cannot refuse with the Yaun.
When you peer down the rabbit hole, strip away the propaganda and the sad news reports of American aggression abroad, what you quickly begin to realise is that despite the size of the US military, the rest of the world actually has America's very sweaty balls in its ever tightening grip. Dropping the dollar is being made easier, almost by the day. It seems as if it's actually being encouraged! Banks (both central and corporate) from around the world are trying to dump TB's but the US is trying (desperately) to prevent it. When the chain reaction finally begins, the US in its current 'fascist elitist state masquerading as a hollowed-out capitalist democracy' form will cease to exist (What kind of totalitarian dictatorship takes its place is anyone's guess). Many Americans will perish and starve.
Have you considered the possibility that the plan is in fact to kill the dollar and replace it with a global currency (e.g. SDRs), the NWO wet dream?
Yes, I have considered it. I don't buy into the whole NWO thing. As you say, it's just a wet dream of Daddy Bush and his buddies. Three letters that continue to stir up feelings of conspiracy and mistrust. I don't believe any of the BRICS nations are in any kind of rush to fall into the same fiat trap again. Certainly not with western bankers and corporate interests at the helm. Also, you imply that a 'World Currency' is a bad thing as if we've never had it before. But we have. It's called Gold. Just because most of the west has been brainwashed into believing that Gold is a monetary relic (well, most of the US, EU, Australasia anyway) you forget that the other 75% of human beings that live on planet Earth still assign great wealth to it and are more than happy to use Gold itself (or legitimately Gold backed promissory certificates) as cash. Whether these certificates end up being called SDR's, New Dollars, Credits, Pigs Ears, or Pennies from heaven, I care not.
Why would foreign nations accept court rulings mad by Americans for American interests and demanding huge money payouts to American interests? Really, how fucking stupid to accept this theft. Fuck US courts, they do not rule the world, fuck 'em. That is what I would say to American imposed fines, fuck off!
They have US branches and want to continue to do business in the USA - so they sort of have them in a tough spot.
If you tell them to fuck off they say - no more USA business.
It is really no different that JMP telling the gov to go fuck themselves we won't pay any fines - they will just shut the bank down.
Berlin, London and Rome have backed Paris in its push to have its concerns about so-called US extraterritoriality discussed
No shit! This sort of imperial attitude of America is getting old for nations being squeezed by dollar hegemony. The USA better be careful, ALL American world power rests on Petro Dollar and Dollar Hegemony. Lose this and how does America pay for it's government operations which spend TWICE what it takes in in taxes??
"I don't know whether the G7 will have anything to do with it, or whether it will be the G20. I certainly hope the IMF will have something to do with it." - Lagarde
People might want to start noticing the world wide campaign (including US officials) making America look like the out of control gaijin. Bullies, killers, warmongers, spying, regime change- it is all being put on the front page for awhile now. America is being set up for a huge takedown and every elite hopes the American people will be stupid enough to put up a fight.
It is a global world now. The Elites can center their operations anywhere and in relative comfort now that communism has gone mainstream.
We can thank all the players and actors in this little extravaganza, from presidents to dictators to all the legislative constructs.
Our only chance is to NOT play along. Refuse to get drawn in and let the fuckers fall. This government is not America. The military is not America. We need to look after Americans by staying at home and working together AGAINST our government. Don't make it easy for them.
The scam will go on until there's wodespread dumping of US Treasuries. Despite cliams that this is happening I don't see evidence of it in the figures. Of course 'Belgium' is a wild card in all of this.
listen worthless goy.
the people must pay the fine
as tribute and compensation.
the jews of france must tax the people
to pay the jews of new york
fine compensations
Your misguided diversion is a lame defense of
the many non-Jewish oligarchs, militarists, despots, and sheikhs
which also (conveniently for them) ignores the systemic problems
from having self-serving organizations based on autocratic power
and unsustainable materialism.
Dont fuck with French !
The only thing revolting in France are the peasants ...
Europeans brought it all down upon themselves with all there crying about hunting down tax evaders in foriegn countries.
In the 80s they sold so much toxics to Japanese Banks that they become zombies. Mergers take place amont Japanese Banks. Japan is as one country is more united in keeping the zombies functioning as national symbols.
Now they have less outlets with the Euro Banks to dump their concotions, they raise the bar (regulations) to ensure these muppets recapitalize/bail out with EU taxpayers' monies to raid as fines.
G20 is G Zero and France or whoever cannot co-ordinate a EU reponse.
Why should the little people care with this fight in gangland. These EB Bank muppets anyway still ask for it by still paying in global markets with stressed finance and in a crowded space with a shadow banking sector. If EU is serious with their little people, they should first muzzle their own banksters and put in place a tougher version of Glass-Stegal.
Unpalatable to EC but Deutsche, Barclays and the other self delusional global banks are not there with talents, reach and the Govt backings to play the global markets. They should scramble for what is diminishing back home.
America destroys those with whom it makes friends.
"America has no friends, only interests"
Identity resides on commom ground
Genes
Language
History
Nations without identity will fade
France is angry by the U.S. government's attempts to stop the sale of French-built Mistral "helicopter carrier ships" to Russia, as well as the $8.97 Billion fine (ordered by a lowly U.S. District Court judge in Manhattan) levied on BNP Paribas bank (of Paris and London) for selling Russian-held U.S. Treasury bonds for gold.
Italy is angry about IMF and EU-imposed "austerity" as well as U.S. atttempts to stop Russia's South Stream natural gas pipeline, one of whise branch lines would be located in Tarvisio, Italy.
Britain is angry at the U.S this past week for the EU to cut off credit to all Russian state-owned bank, which will deny the state-owned banks VTB Bank OAO, Bank of Moscow and the Russian Agricultural Bank cerdit and access to the US economy. Since Britain's "City of London" banks are the primary lenders to these Russian banks, the British are NOT pleased, to say the least!
Germany is angry about te failure of the NY Federal Reserve to return Germany's physical gold, the adverse effects of U.S. sanctions on the over 3,000 major German companies with facilities in Russia, the potential loss of automobile sales to Russia (Germany's best market for its cars), and the prospect of a regional European war and/or world-wide thermonuclear war. Further, the German people are FED UP with bailing out the ECB and the Mediterranean EU nations.
Turkey is now defying the U.S. by buying OIL from the "rebels" in northern Iraq and its previous purchases of oil from Iran, and paying for that oil in GOLD.
And poor Argentina has been ordered by another lowly U.S. District Court judge to pay the pay "hold-out" bond-holders before it can pay its regular bond-holders.
QUESTION: Just WHO granted the U.S. government JURISDICTION over all of these supposedly SOVEREIGN nations?
Who granted them this approval and authority? Why, GOD did, silly. The US was/is the new Chosen People: The Chosen Folks.
You didn't get the Memo?