Posts Tagged ‘SDR’

France Versus Dollar Justice

June 4, 2014

WALL STREET JUSTICE: USA BANKS RULE, LET’S KILL OTHERS

In Brief: The attack of Manhattan “Justice” against French bank BNP is reminiscent of the sanctions of the USA against France in 1939… because France had declared war to Hitler. With “Justice” like that, no wonder Putin does “Justice” himself. Morality: If there is no Justice, but Wall Street Justice, it’s time to strike back at the empire.

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The world is complex, so is human society, history, and explanations thereof. The Wall Street Journal condemned, once again, stridently, the sale of French Mistral ships to Russia. It forgot to mention that the USA has several times greater business with the Russian military-industrial complex. That’s propaganda, for you.

I sent a comment tying the sale of the Mistral up with the extravagant attack of Manhattan “justice” against the French bank BNP. It was censored immediately. As the sheep say, there are no conspiracies, just, stuff happens.

If Around The USA Beware About Who Is Lurking In Your Hotel Room

If Around The USA Beware About Who Is Lurking In Your Hotel Room

Thomas Piketty, a young French economy professor, made a devastating attack against the Wall Street plutocratic system in his book, “Capital in the 21 C”. The goons in Manhattan reply with calling for an 11 billion dollar fine to bankrupt BNP, just because they can (BNP violated no European or French laws, just the hatred the government of  the USA has for Iran and Cuba).

It’s time to arrest the respect those goons get. They are not any better than the clowns around Putin. I will actually that they are worse, since, as Putin himself would point out, they are more subtle. (Meanwhile Piketty ought to be careful when visiting the USA)

The presidency of Barack Obama has been characterized by a lack of punishment of the bankers that had organized the heist of 2008. How could Obama do anything? Supposed liberals such as Krugman have just been clamoring for more money for the banks: that’s how the left is defined in the USA. The rest of the USA, or at least, the USA’s Main Stream Media, is on the right of that. Giving money, ever more money, trillions of dollars in monetary base or bond buying (= Quantitative Easing, Twist), in the USA, defines the “left”.

Obama has been cracking on bankers, but only Swiss bankers. Switzerland’s banks destruction became a golden opportunity for the banks of the USA, which can now manage thousands, not to say hundreds of thousands, of new clients.

The USA is against tax havens: that’s the law. Overseas tax havens, that is. Slight problem: the USA is, by far, the world’s largest tax haven.  Delaware is, by itself, the world’s largest tax haven state, as USA Den Of Thieves pointed out. The USA legislative system is an enormous tax haven for the hyper rich.

So why so upset that BNP conducted some transaction overseas between overseas clients, using the world’s reserve currency? That’s just a pretext. BNP is one of the two largest European banks. It’s also one of the two largest banks in Europe, and one of the top five dollar clearing banks, worldwide. As the dollar is the world’s reserve currency, gigantic reserves of dollars are overseas, never to transact through regions directly controlled by the USA.

BNP had business in Iran for generations. But that’s the point. When the USA applied sanctions on Iran, it forced the rest of NATO to do the same. That devastated French industry. In particular the car maker Peugeot, the second car maker in Europe at the time. It devastated no American industry.

However, what is the difference between Iran and Saudi Arabia? Women cannot drive in Saudi Arabia. Yet, they can in Iran. Clearly a crime, in Washington’s eyes, if it’s done in a Peugeot. So Washington struck Iran, and thus Peugeot, with sanctions.

American economists such as Paul Krugman, hopefully lying through their teeth (the alternative, that they are really believing what they are saying, being worse), have claimed that the fact that the dollar is the world’s reserve currency presented no economic advantage to the USA.

Why this will to destroy France? Because, if France is on her knees, so is Europe: the European Union, re-instatement of the Imperium Francorum, is mostly a French multiplier, and is built around the principle of 1789, the FRENCH Republican Constitution of 1789 (Liberté, Égalité, Fraternité), not the Constitution of the USA of 1789 (We The People of the USA, whatever that is, friendly to all sorts of discrimination, extermination, exploitation and slavery).

OK, I am exaggerating a bit. The master does not want to destroy the slave. The Master just want the slave to abide by His law. The law of the strongest. Cyrus Vance, a francophobe in Manahattan, is the strongest. His Law is the best. Vance knows well that, this French spirit of 1789 is counter-attacking. He needs to fight back.

So he caged DSK, head of the IMF, who had the impertinence of raising hundreds of BILLIONs dollars of SDR. A word on this here, as it goes to the ugly heart of the USA centered global plutocracy.

Under Strauss-Kahn, a senior, famous economy professor, the IMF’s pursuit of financial stability called for a new world currency to replace the dollar as the world’s reserve currency. An IMF report from January 2011 called for a stronger role for special drawing rights (SDR), to stabilize the international monetary system. For most countries, there would be many serious advantages in switching the pricing of certain assets, such as oil and gold, from dollars to SDRs. The BNP affair is a case in point.

For Manhattan “Justice” gangsters, the call for SDRs was a call for the end of Manhattan, New York, Wall Street.

DSK had followed Keynes’ idea (Krugman is anti-Keynes about this, unsurprisingly). To foil Keynes, the head of the financial commission at Bretton Woods, the American goons substituted false documents at the last minute. This forgery is how the dollar became the world’s reserve currency.

And how Wall Street has now a weapon to destroy European banking.

Symbolically, only one man was criminally prosecuted for the 2008 financial heist. A lower employee of Goldman Sachs. A French citizen, of course. Tragedy is emphasized by comedy, to make it more blatant, that, whatever it is, it’s the fault of the French.

My advice? It was important to go all-out to blunt Putin’s Pluto grab. But one should remember one ought to crush infamy (“Écrasez l’Infâme”; Voltaire signed it: Ecr. L’Inf.)

This, this BNP affair, is even worse than Putin. In a way, it is the sort of mood and chronic conspiracy, that caused Putin to act the way he did.

The old Putin, say of 20 years ago, just as the old Yeltsin, was naïve: he really believed the free market propaganda oozing from Harvard, and other austere American institutions. Then Vlad found out how the sausage was made. He decided to make his own. (Hitler went down that road too, sort of.)

The Russian plutocracy, around Putin, is just a subset of the global plutocracy that individuals gravitating around Wall Street feel, and think that they direct and control.

Thus, it is even more important to smash the power grab of the USA’s plutocracy. Putin made an error, a grave error. He has to reverse it. However the system of exponentiating greed around Wall Street has been messing with the world, big time, for EXACTLY a century. (As I have explained, the White House excited the Kaiser to go to war against France in 1914, and then proceeded to make a fortune, feeding and arming the Kaiser.)

When I wrote “Mistral Blows Hard”, I argued that it was smarter to give Putin his amphibious, French made, aircraft carriers. Now, I would argue, it’s a necessity.

Be it only so that Putin can land his “little green men” in Manhattan, and go arrest the criminals there who call themselves proponents of “Justice”. When extirpating cancer, one has to exterminate its stem cells. This important, recent discovery in oncology has a morality of its own, that carries far, and wide.

Truth ought to look better than any of us. And that’s:

Ecr. L’Inf.

Patrice Aymé