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The US Government Just Crossed The Rubicon
Submitted by Simon Black via SovereignMan.com,
In 49 BC, a defiant Julius Caesar stood in front of his army at the River Rubicon and made the biggest decision of his life.
It was strictly forbidden by Roman law for a general lead his army out of its province and into Rome. And the Rubicon marked the boundary.
“Alea iacta est!” (The die is cast!) he said, and led his army across the river into civil war.
The phrase “crossing the Rubicon” has stuck for more than 2,000 years, signifying a risky and dangerous point of no return.
This week, the United States government crossed the Rubicon.
In a fit of complete arrogance, a federal judge ruled that he has ‘jurisdiction’ over one of the biggest banks in mainland China, Bank of China (BOC), and demands that the bank turn over financial records to his court.
The judge is hearing a case brought by the luxury brand Gucci against an alleged Chinese counterfeiting ring for selling fake handbags in the United States.
The claim is that the Chinese defendants are sending their ill-gotten gains back to Bank of China in the mainland. And the judge wants to see their account activity.
Bank of China, as you can probably guess, is predominantly owned by the Chinese government.
So it goes without saying that this demand (not a request) is a direct affront at China’s sovereignty.
The only leverage the judge has is that Bank of China has a branch in New York City; it is officially a licensed bank in the US.
So if Bank of China doesn’t comply, the judge could theoretically order that their US license be revoked.
Once again, the United States is using its financial system as a weapon.
Since US dollars are the most widely used reserve currency in the world, every bank on the planet needs some access to the US banking system.
Whether you’re in London, Riyadh, Sydney, or Shanghai, the most widely traded commodities, bonds, and financial contracts in the world are primarily denominated in US dollars.
Plus most global trade takes place in US dollars.
So not only are banks forced to hold US dollars, they require access to the US banking system in order to clear and settle US dollar transactions.
Large international banks have what are known as ‘correspondent bank accounts’ or ‘nostro accounts’ with US banks.
So a big bank in Denmark, for example, may have a correspondent account with JP Morgan or Citibank in New York in order to facilitate its dollar transactions.
And sometimes foreign banks may even apply for their own US banking license, as in the case of Bank of China.
But if a bank were to be kicked out of the US banking system, it would be incredibly detrimental to its ability to hold and transact in US dollars. And hence quite difficult to participate in global trade and finance.
This financial leverage is an unbelievable advantage for the United States, and is a result of the rest of the world placing a great deal of trust in the US government.
But the government has shown time and time again that they are willing to abuse that trust and use their advantage as a weapon– one that is more powerful than the US military.
Just last year, the Treasury Department fined French bank BNP Paribas a whopping $9 billion for doing business with countries that the US doesn’t like, such as Cuba.
Of course, Cuba and the US are BFFs now. But I doubt BNP is getting a refund anytime soon.
And naturally, if BNP didn’t pay up, the US could threaten to evict them from its financial system.
It’s simply amazing that the US did that to its own ally.
Now they’re going after China, its biggest competitor.
The Chinese are already working on a parallel, competitive financial system.
They set up the Asian Infrastructure Investment Bank to compete with the vestigial IMF and World Bank.
And they’re nearing completion on an international payment system and clearing network to compete with SWIFT and the US financial system.
It’s called CIPS.
And once it’s up and running, there will likely be a rapid increase in the worldwide use of China’s currency for financial transactions– transactions that used to be executed in US dollars.
Sticking it to Bank of China like this only gives the Chinese government even more reason to wage war on the US financial system through CIPS.
The reduced demand for US dollars completely destroys America’s last remaining advantage.
If they can’t force the rest of the world to use the US banking system, then they won’t be able to force the rest of the world to hold US dollars or buy US government debt.
It weakens America considerably.
And when future historians write the history of the decline of the United States, there will no doubt be a chapter on how the US government made it a matter of national policy to consistently abuse the power entrusted to them by the global banking community.
Of course, Julius Caesar didn’t learn that lesson either.
After crossing the Rubicon, he won a long civil war, after which the Roman Senate made him dictator for life.
And fearing he would abuse it, he was assassinated just a few weeks later by the very people who entrusted him with that power.
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Nope. We're in a STRONG Recovery Bitches!
Exceptional 'Idiotism' is what the USA is all about currently.
a.k.a. alternative gifted.
Once again Simon Black is being a bit inflammatory. Anybody ever read a court order? The word “please” is never there. My guess is that the Gucci lawyer asked PBOC for records and they said “NO” as ANY bank would do absent a court order or subpoena.
Do the Chinese counterfeit Gucci popcorn?
Fuck the Chinese and their efforts to do business here without consequences. It is quite common that Chinese companies sell dangerous products here (and obviously make a profit), but cannot be held accountable to US consumers when someone dies as a result. Like their slave labor, this creates a competitive disadvantage to companies based in the US. Just another reason for US companies to pull anchor and head to China. If the Chinese don't want to bank here, that's fine. If they do, they should be subject to our judicial system. The only thing that "crosses the Rubicon" is the idea that a huge trading partner of the US should get all of the benefits of access to our markets, but no accountability.
Isn't copying designer shit, like China's 3 largest growth industry?
Folex watches, Puchi bags (Made out of real pooches)
Get some perspective people.
I think the real thieves are the ones selling "bags" for $5000
This is all just a test run for the upcoming global government.
The US Government crossed the Rubicon in 1963.
Probably the most accurate comment in the whole discussion.
SILVAH!
It won't lie to you and it won't cheat you.
Nov. 22nd, IIRC. I was 6 years old. The image of John-John saluting his dead father's caisson is forever etched in my memory.
Shortly thereafter, Bobby was cut down, too.
But Teddy drowned a hooker named Mary Jo in his car and is today celebrated as some kind of hero?
And people wonder why I drink.
Come to think of it- John-John is dead now, too.
Sooner or later, enough coincidences start to pile up to make an average guy like me start to wonder...
"But Teddy drowned a hooker named Mary Jo in his car and is today celebrated as some kind of hero?"
Ah, no. Teddy been DEADDY for more than 6 years dude.
Ron White was right- You can't fix stupid.
History repeating it self
We lost the empire mother fuckers
TEST RUN? Look around you...the NWO has already arrived!
POPE SPEAKS TO THE UN
PUTIN SPEAKS TO THE UN
Buellar? ..... Buellar?..... Farris Buellar?
www.ViewLasVegasRealEstate.com
https://www.youtube.com/watch?v=t4ZGKI8vpcg
Have you ever, I mean for even 5 seconds, considered that you, yourself are responsible for the repercussions of doing business with a hostile entity?
Nah. You need gubmint to protect you from such atrocities.
Why?
It's because you want to enjoy the fruits of cheap labor while being protected from the competition of cheap labor.
I don't say Fuck the Chinese... I say Fuck you!
Not your junk- just wastin' my time 'splainin why you got 'em.
Stopped reading here: "This financial leverage is an unbelievable advantage for the United States, and is a result of the rest of the world placing a great deal of trust in the US government."
Oh how cute. Still thinking this is all an accident by idiocy... bless your heart.
How about he declare he has ‘jurisdiction’ over the Federal Reserve while he is at it....
The difference is that he does have jurisdiction over the Federal Reserve.
He doesn't need wool to pull over their eyes, because you can blindfold them with dental floss!
We'll take the niggers and the chinks, but we DON"T want the Irish.
Wait... scratch that...
so who can we assassinate? it would be more like a holocaust for all the zionazis involved.
these arrogants will get their lesson..
What I'm afraid of is 'We The People' will get it, too.
Judges are easily bought and paid for as this one obviously is; so he will disappear with a swat from a "White Dragon"; that judge better be real careful.
Please refer to these Criminal as what they really are. They're Executive Administrators who represent the Criminal Fraud UNITED STATES, CORP. INC. At the Criminal Fraud STATE / LOCAL CORP. INC. levels as well.
LMFAO!!! This is just what is needed to propel China to push up the date of a gold backed currency and/or demanding payment in Yuan. MAJOR CURRENCY WAR HEATING UP.
My Gucci bag read Goochee when I bought it.
China fakes handbags and USA fakes law enforcement.
Just ask Corzine. Mozillo, Lerner, Bankfine, Dimon, Paulson, and on and on....
Paying throught the nose for a label is hardly a sensible thing to be doing.
Depending on the item, I tend to go one of two ways.
Sunglasses? - dollar store. I break or lose too many pairs to go expensive.
Bicycle - pay for a good one.
Tools - buy quality.
Don't care what the label is if it works.
Or they believe they're all powerfull and drunk with power
or it's all part of the plan to pass the torch of the reserve currency as mathematicly it can never last forever because the one running it gets great power but is also cursed with a ever increasing deficit. Weirdly, without a constant deficit you can't have a reserve currency.
So how do you put this into perspective, what happens when the $ is no longer the reserve currency?
It seems like someone posted a link here to an animated video that attempted to describe how Treasuries were bought and sold. With the reserve currency being dollars, that is what countries need to purchase oil, thus loosing some value of their own currency having to convert.
So, when the $ looses it's status, prices will rise, what, 2x, 4x?
Along with several other implications I don't fully realize yet.
If we loose WRC status, the dollar will go to its intrinsic value. Eventually, prices in dollars will go up infinity X, i.e. its value will go to zero.
Other countries have currency, that is not the reserve, and their prices are not spiraling to infinity. Well, a few are, but not as a result of losing WRC status.
I don't think you truly understand what advantages the US gains by the dollar being the world's reserve currency.
I also think you are a bit short on research regarding spiraling prices under other currencies.
The present financial system is not sustainable and has reached the point where it is very unstable. Very easy to tip into disaster really quickly.
But then all fiat is intrinsically worthless and fraudulent.
What's in your wallet?
That's the real question everyone needs to ask themselves.
I calls 'em FRN koopuns (H.T. to Ron White)
The dollar stopped being the reserve currency when you reneged on gold exchange. The rest has all been prologue to the massive change that is coming and I wouldn't want to be anywhere near the US when the psychopaths shoot their last bullet.
Enforcing ours laws in our country weakens us
Right, and Carly won
An Italian company is complaining in a US Civil court about Chinese knockoffs sold everywhere. They are, because of shit like this. Probably going to fine the Chinese guy 5billion or some shit. It's like that hick town in Texas where everyone goes for IP lawsuits because it's a bunch of mental patients there.
But you know, feel free to wrap yourself in that Chinese made flag if you like.
You must mean Marshall, Texas. I live in Marshall. The federal court here became a rocket docket for IT several years ago because the federal courts in Tyler were too choked with drug and bankruptcy cases.
If you watch the ads in the Marshall News Messenger, you'll see ads for "research groups" or "focus groups". I responded to one of those ads already knowing that it would be a day or two of mock jury duty. First you have a telephone interview or answer an online screening survey. If you make that cut (and I did), you meet in a hotel conference/ballroom and answer some more questions. I was eliminated at that point because I wouldn't offer a snap judgment on a survey to a question with a little guy versus big guy slant but no real information. When quietly questioned one-on-one, I told the survey guy that although I had not participated in a substantial way in research or copyright/patent work or IT, I had put substantial effort into some biotech investments and had read up on a couple of the companies' dealings with the FDA and was not pleased. I was given an envelope with about $250 and dismissed.
I think some of the legal consultant groups have built databases of citizens in the Marshall area who are subject to jury duty and unlikely to be excused. There are only 40,000 - 43,000 registered voters in Harrison County. These focus groups have been going on for the past several years but have become somewhat less frequent. I guess the consultants must be fairly comfortable with the quantity of data they now possess.
I don't think the citizens of Marshall are a bunch of mental patients. It is just that the consultants have profiles on quite a few members of the jury pool and have identified tendencies.
BTW, I did not down vote you.
If your country had any honor, or any dignity left people would be supportive, to a point. But you don't. You're just a rabid dog biting and slashing out at everything. There is only one solution for that problem.
These freaking hubristic judges.
Eg. One in Canada recently demanded, on behalf of the CRA, that KPMG hand over a list of their customers participating in an allegedly blatant fraudulent off shore tax haven scheme.
I mean don't these gov't legal types know the Prime Minister of that country attends KPMG meetings? IE their boss? Who the hell do they think they are, expecting the wealthy to be subject to the Rule of Law, anyway?
Fortunately KPMG has the fortitude to stand up to these onerous regulatory bodies and their statist, self-righteous stuffed shirts.
(/sarc)
Higher and higher debts supported by the crooked Federal Reserve buying back that debt with ever more printed money.
Deficit now $18.4 Trillion and increasing as baby-boomers and middle eastern refugees are added on the government's tit.
I see another missile launch from China. Perhaps this time off the East Coast near Manhatten.
If they hit Manhattan at least no US citizens would be injured.
Same for LA and most of Minneapolis.
Didn't the Chinese Navy bring down TWA 800 with a missle off Manhatten? Oh, wait, that was our Navy...
This news is big. It follows a recent pattern in which the USA is declaring it has legal juristiction over the world, especially as regard financial business. The US seeks to bring US courts into foreign nations and start legal proceedings. In this case the US is declaring that it Defacto reules the world as the ultimate legal oversight power. You see this in the recent case against a French bank, and leagl court judgements against Russian corporations. This move to China is sure to enrage the Chinese beyond words!
Someone in Washington really thinks that they can move to take full control over all of earth, and they are doing it as we write. Saying the US Courts hold juristiction powers over all men and corporations is a leap not even Hitler, Stalin or Alexander the Great tried.
I don't think the Chinese will be enraged about this. I think they will be laughing at the desperation of the US.
Criminal Global Fascism. Total Complete Full Spectrum World Doomination is their Psychopatic goal.
More such wonderful benefits await good friends "partners" in TPP.
Moo before slaughter, all right.
"is a leap not even Hitler, Stalin or Alexander the Great tried."
But Hitler, Stalin or Alexander never conquered Grenada.
Because of the success of Grenada (the first regime change country, approved by PSYOPED US citizens), the US adopted regime change into foreign policy, and doctrine. Sovereignty? Sovereignty? You ain't got no stinking Sovereignty.
Pure anecdote
I was in Reno (don't ask) a few years 'after' Grenada. There i met a friend of a family member; guy owned a landscaping business. He was a full on lefty: didnt' golf, rocked the ganj, went to live theatre, drove a tiny japanese 4by4 over the salt flats, had a wife who was a 'dancer', Birkenstocks and Woolen sox, you know.He looked like the brother of Howard Zinn. But he was a fairly reserved, quiet guy.
Anyway, not sure how we got on the subject <cough>, but I happened to mention that I thought the US' action in Grenada seemed quite the travesty... and he came right at me! Well, as much as such a man can, I suppose; I mean, if looks could kill. For a moment I thought he might even actually take a swing at me. He started vehemently stammering some rote about 'how it was necessary, for the good of the people of the place'...For the sake of my relation, I let it go.
My bad I suppose for judging him as he looked (and lived, and otherwise spoke and behaved)
To this day I consider him a testament to the power of respondent conditioning.
yeah, I'll just leave this here, since almost none of you know what the fuck you're talking about...
http://www.reuters.com/article/2011/10/04/us-china-usa-banks-fakes-idUST...
also, Simon Black sucks... quit posting his ludicrous horseshit... I'll put up with the fucking russian spies and mainland reds posting their blatant propaganda here but enough with the goddamned Simon Black articles already...
"mainland reds"... Republicans?
O's wages war on sillary
O's not leaving
and has a plan
for us sa
All of this over a conterfeit purse??
Isn't Gucci Italian?
Arrogance and ignorance pills for everyone.
I am usually sympathetic to the view that the US govt is arrogant beyond belief and are sowing the seeds of their own self destruction. However, in this one case, I actually side with the judge. if a bank wants to be licensed in the US under US jurisdictionn, they should be subject to the same rules and regulations as anyone else. If this was JPM, who has banking licenses in China, and the judge subpoenaed them for their records, there would be no issue. So what is wrong with asking the same from a Chinese bank that has a license in the US?
I'm a libertarian but not at the expense of perpetuating fraud which is what this case seems to be about.
So when is he going to request the bank accounts of the Oligarchs that are off shore in the Caymans, Bermuda, Leichenstein?
Gee, what is Guuchi doing about their hand bags that "fall off the truck" in New York and New Jersey. That loss probably exceeds anything the countifiters are doing to their bottom line. Gee if that bank isn't allowed to do business in New York, I wonder if some other state will make them an offer.
The Judge can demand, but I bet the the Chinese Bank has its own Crouching Lawyers and Hidden bought off Politicians.
Julius Ceaser was due to depart with six legions to conquer the Parthians. Had he not been assassinated, he might have succeeded. The Parthians resisted all roman attempts to conquer them and thus rome was never able to expand into India and perhaps after that China.
not a big fan of china. in fact, chinese ppl here in the usa (the ones I have come into contact with) are pretty arrogant. honestly, i would love it if the uSa just told china "you know what, why don't you sell your s* somewhere else. ciao"
ah, and they are all up in your face speaking their chinese and s*, cloistered off into their chinese (asian generally) communities, all proud of the fact their kids got into america's finest schools. ok, well, good for them, but it is all this suffocating in your face pride, air of superiority, lack of respect for the original American culture that laid the foundation for the schools they boast about to exist that bugs me. if China was such hot s* then why do they come here to get an education? this is an area, admittedly where my racism kicks in. w/o the uSa China would not be anything right now. We have a great country, all the natural resources we need to make whatever we want. f* their cheap s*, seriously. I never buy it anyway, so that means most of what they sell is worthless crap that fills up landfill sites across america 6 months after the purchase at walmart, or wherever.
so, yeah, chinese punks, f* you, let me see your account information.
</rant>
So in essence, what you are saying is that 99% of the stuff in your house, on your computer desk, your shoes and possibly even on your back, is Shit...?
yes
America has turned into a fucking disaster precisely BECAUSE you have ignored the principles that were laidout for you.
if you have a moment, please outline which ones. What principles ought we to follow? I ask, because it is my idea if we could find some central idea to agree on, like maybe 200,000,000 people, or more, to isolate the minority tyrants and their competing ideology, as a collective force, we can push back against the bulldozer driving us off the cliff.
Inquiring minds want to know when the doors to those Chinese gold vaults open. Why, I think I hear the faint sound of a creaking door... Or is it the sound of U.S. economic knee caps getting taken out...? Hmmm...
long after we here are all dead
The Romans thought they owned the world also.
You want to do business in the US? You play by US rules, whatever they may be at that time.
Yeah, well, in not very many more days, not too many people will want to do business with you anymore.
There's actually precedent for the US Court's action, though. The International Court of Justice in The Hague has been declaring for decades that it has jurisdiction over every human (and every animal and every ounce of CO2 and pretty much all other elements and chemical compounds) in every country on the planet. It's only a matter of time before they declare jurisdiction over the moon and Venus and Mars and the rest of the Solar system, and then Proxima Centuri and Alpha Centuri and on and on. I've always thought that was one of the biggest mistakes Europe ever made, because it was only a matter of time before the US, Russia and China followed suit in this idiocy, either sarcastically or seriously. And now it's begun to happen.
Pretty soon a Russian Court will demand that the entire planet recognize them as the world authority on arms trade, and then a Chinese court will demand that their version of climate protection (ha!) become universal across all countries worldwide because they said so. And then all citizens of these and all other countries will finally begin to realize that NONE of these courts has ANY jurisdiction over ANYBODY outside of the country where they convene, and then only if the government of that country has properly recognized them. And then people will begin to stop paying any attention to any courts anywhere because they'll figure that if these big courts are worthless and stupid, then so are all courts.
Crossing the Rubicon is a good metaphor for this situation, because there really is no way back to a time when courts were trusted and believed. At least not without WW3 happening.
...or what could happen is that national sovereignty is lost to global governance. We're getting pretty close.
It's very unlikely that any country on the face of the earth could ever match the arrogance and sheer wanton abuse that the US has heaped on most of the world.
China launched the first phase of its China International Payment System (CIPS) in Shanghai on Thursday, allowing cross-border transactions in the Chinese national currency, the yuan.
http://sputniknews.com/business/20151008/1028228289.html
Bcoz. Timing.
Wonder what dirt the NSA has on that jusge?
Either that or the judge has a cocaine problem.
It might be a matter of his pride and arrogance.
Americans citizens are already under the complete control of the BANKSTERS financial system. The banksters no longer need to ask the people before going to war...they can hire thugs to police said citizens...buy politicians to maintain power...etc. The US Bankster's financial system has morphed into a threat to all...
Would like to see the Chinese put out a contract on these judges.
Is that you agent FBI ?
>> US Government is most corrupt
>> PBOC is most corrupt
CIPS up and running today, no more SWIFT.
bada-bing (rimshot).
I cannot imagine that the Russians would want to use the SWIFT system when an alternative exists.
Hopefully, ZH will keep an eye on this and clue us in.
wouldn't it be a coincidence if the new rissian system, is identical to cips. maybe they'll call it RIPs
I hope someday the Chinese bank and every US taxpayer sends a succinct and refined statement to Sucking Sam...
"GO FUCK YOURSELF... I WILL NOT PAY!"
Gucci is using the new laws in the US, that have been changed to only benefit Corporations.
This is US policy, foriegn policy, etc, etc, is a bunch of Corporation and powerful psycho's
USA! USA! USA!
Lousy analogy.
US retarded acts apparently knows no boundary...
I went with a chinese girl to the basement of a fairly big shopping center in beijing and if you ask for a fake LV bag or whatever, they bring you the original LV catalog and tell you to choose. Then they go in the backroom and bring back the item you requested in what looks like original packaging but it's $40 asking price instead of $1500 a few floors up. All of the chinese richer classes who buy the 'originals' upstairs know they can buy tthe cheaper copies downstairs but they still shell out their parents' dough on the label. Almost certainly comes from the same factory. Last I heard that Gucci was the only holdout in terms of manufacturing in Italy but they still use cheap imported labor.
The USA is causing their own problems and the world is simply turning away from it!
Did we cross the Rubicon AGAIN???
http://www.zerohedge.com/news/2013-06-06/less-people-working-now-year-ag...
Needs moar Rubicon!!!!!!!!!
we have no laws http://www.reuters.com/investigates/special-report/scotus/ check out the GE CFM http://www.cfmaeroengines.com/press/zhejiang-loong-air-signs-service-agr...
The ruling class was the 4000 elite lawyers and the bankers. World government is here...
https://www.youtube.com/watch?v=rsL6mKxtOlQ
https://www.youtube.com/watch?v=IZLqC04uR6c
Ironically, on the legal front the US admin has already crossed that Rubicon.
The international war crimes tribunal (IWCT) was created precisely as a result of the Nuremberg Tribunal jointly promoted by the US and the USSR to try captured leaders of the Third Reich for their crimes after the fall of the Reichstag.
So based on that seminal experience, a watershed in international relations on the legal front, the US created within its UN mandate the IWCT under its multilateral umbrella.
Funnily enough, having created this instrument and having practiced what it preached at Nuremberg, the US is not a signatory to the statutes of the IWCT in that its rules do not apply to citizens of the US !
There are two types of international crimes : those of the under-states (judged by the IWcT) and those of the Uber-state (which only the US tribunals can judge).
All crimes eventually committed by US personnel in their wars of conquest cannot be judged by the IWCT as it is simply incompetent by the terms of its statutes!
Regulatory Capture at its BEST !
But that is nothing new, as the UN itself is a body that accords veto powers to five large countries (whence its inefficiency to act when these nations are at loggerheads).
"Funnily enough, having created this instrument and having practiced what it preached at Nuremberg, the US is not a signatory to the statutes of the IWCT in that its rules do not apply to citizens of the US !"
Uh, no. The last time you got pulled over for speeding, did the cop ask whether you had consented to the speed limit you had just broken?
The applicability of the Nuremberg Laws to American criminals, e.g. the Cheney-Bush Gang, does not in any way depend upon Cheney, Bush, Yoo, and all their little friends signing on to the law. They are only safe from the next plane to The Hague through the power relationships of the day.
I'm not holding my breath. Cheney will probably live out his bionic days. Professor Yoo, or Paul Wolfowitz, on the other hand, had probably better be careful where they travel. They never know who's going to be the next Pinochet.
-dlj.