The United States government has resorted to frustrated threats and whining after realizing that more and more US allies are joining the anti-dollar alliance.
This news comes after the UK announced that it will join the new China-led Asian Infrastructure Investment Bank (AIIB) as a founding member a few weeks ago. Shortly after this, Germany, France and Italy decided to follow suit and join as well.
Has the reign of the US dollar as the currency linchpin finally come to an end?
For quite a few decades now, the US has been the unchallenged global economic and political superpower. The US dollar and its banking system were trusted worldwide because of its relative stability. People had also placed their trust in the American government. But there’s a limit to how irresponsible, reckless, and threatening you can be before all that trust evaporates away. Eventually such behavior catches up to you.That time has come.
The US is unimaginably deep in debt right now. The US government’s own numbers, in fact, estimate its level of insolvency at roughly $60 trillion. What this means is that if you add up all the assets of the United States- every acre of land, every tank, every drone, every drop of oil in its strategic reserve… and subtract all the debt and liabilities, the result is MINUS $60 trillion. [1]
That is the net-worth of the government of the US. Add to this the fact that the government has used its well-trusted currency and banking system as a tool to blackmail other countries. Take for example, FATCA (the Foreign Account Tax Compliance Act). Here’s what a Forbes report had to say about it:
“Never heard of FATCA? You will. FATCA—the Foreign Account Tax Compliance Act—is America’s global tax law. It was quietly enacted in 2010, and after a four-year ramp up, it’s finally in effect. What is most amazing is not its impact on Americans—although that is considerable—but its impact on the world. Yes, the whole world.
Never before has an American tax law attempted such an astounding reach. FATCA requires foreign banks to reveal Americans with accounts over $50,000. Non-compliant institutions could be frozen out of U.S. markets, so everyone is complying.”
It can be seen that if any bank dares to defy the US government, it will be punished harshly. This act allows the government to slam foreign banks with astonishingly high fines- $9 billion, for example, in the case of French Bank BNP Paribas. BNP’s wrongdoing? Conducting business with countries that the US dislikes, like Cuba (wait a minute, aren’t US-Cuba relations thawing?) and Iran (isn’t there talk of reducing sanctions?)… Or at least conducting business with these countries before the US itself decides to give the green light. It is important to note that BNP Paribas did not break any French laws. Though the business was done through its Swiss subsidiary, it did not break any Swiss law either. But US laws supersede local ones it would seem.
This sort of unjustified pressuring, blackmailing and extortion hasn’t been forgotten by the world. Nations are realizing that the US isn’t the only option anymore. There are new contenders appearing. More and more countries are turning to China, which by certain parameters is the largest economy in the world. The US government cannot do anything about this, and is being left behind for the new kid on the block.
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Sources:
[1] http://www.anonymousmags.com/happening-allies-join-antidollar-alliance
Fatca is a small thing all the foreign banks do is stop having American customers. They’ve already started doing this. What’s pissed the other countries off is the Government that can’t restrain it’s spending. All their economies are tied to us so if we go down they go down. I think they are tired of being in the same car with our government as it rolls towards the cliff. In the past oil had to be purchased with US dollars. Saudi has a new king now, Saudi Arabia sent some of its army to fight. Saudi can send dollar into worthlessness by deciding that Opec will take any currency for oil. Middleclass what little there is in the US will vanish to just a few. Things like social security, Medicare, Obama care and such will go away. What little manufacturing there is will close up. People will say we will just have a war..we’ve been in a war for last what 12 years? War is our problem. Maybe in the coming poverty we the people will get our government back. All the rich will move on to enjoy France or somewhere. We can then concentrate more with making life for our people better and not need a budget with over 50% going to military. We don’t need to be the worlds police anymore, we don’t need to soak the grounds of other countries with our young men and women’s blood anymore. We don’t need 100 million dollar jets that will have to wait three more years to be able to use all of its weapons. Our congress ordered more of them than even armed forces asked for. Maybe when we are all starving standing in soup lines will people start to pay attention to what government doing instead of 40% or so now.
well said and right on
Round of applause for that.
This is why shit will be hitting the fan soon, our country has burned every bridge and drove our economy into nothing. I suggest investing in guns, ammo, silver and gold.
Make sure that you have your silver and gold in your pocket.
Do not buy certificates, don’t store it in a bank.
Silver is taxed in a lot of places, gold less so.
Max Keiser expects a 300% to 400% return on investment in the next 18 months.
https://www.youtube.com/watch?v=O5CXTT_EYjA&feature=player_detailpage#t=754
As long as the US citizenry accept the registrys,adam walsh acts, patriot acts and all other personal intrusions,violations,and blatent anti constitutional behavior done by thier government…for thier own security of course..snicker..snicker…thier will be no hope..just poverty lines and people fighting each other rather than taking back thier country..
I just don’t know how they managed to make a full blown Global Act without the consent of other countries. I mean, which country would agreed to such a law that violates the security of all their customers personal financial information, that has such a harsh fine to the bank if unjustified, allow America to freeze accounts (assuming) remotely and much more! They shouldn’t be able to bully countries with such an act that was done in the shadows and say “well this is what it is”
“Fuck off” will be my response.
anyone have a list of the 23 countries that have signed treaties ive been looking all i can find is that Russia,china,Germany,Italy,UK,India,France,and Australia.
Israel
This is not surprising as the American National dept is owned by China!
more power to the chinese, yeah
yanks getting what they deserve for their arrogance
“Yanks” aren’t the problem. It’s the puppet Gov’t run by illuminati, the 1%. American people will hopefully open their eyes and rise up against the corrupt. We are the 99%!
China joined the w.t.o. has violated the world fair trading agreement and flodid the world’s market with cheap and unsafe or dangerous products using slave or forced child labor and the have no labor laws so pepole die at the work place all the time do to unsafe conditions and no environment protection laws or regulations it is by far litterel as a fact the most paluted cuntry in the world but go china yah
because its in the chinese poeple’s culture to not value human life.
http://beforeitsnews.com/economy/2013/04/at-72-8-trillion-presenting-the-bank-with-the-biggest-derivative-exposure-in-the-world-hint-not-jpmorgan-2515296.html
This global taxing is coming to the UK, if you hold a UK passport and having been living elsewhere for the last few years as I have, think about getting a passport for where you live or in other countries where you work now or are about to. For me it will be Construction of a boat yard in East Caribbean and Cambodia, both of which work. IE as soon as you buy the land and start the company and or construction, then you enter their system and within two years or so, the passport materializes. My way of resiting the corruption and repression in the UK was to vote with my feet. The UK passport can then be sent back to UK or a better deal can be negotiated. The importance being we the people are then in charge of our destiny, we have taken our power back.
And, dried beans, rice, coffee, and anything you might need to survive and/or barter with others.
The petro-dollar is not going anywhere . . . Russia and China are conspiring to break the Federal Reserve’s Bretton Woods Accord. Not coincidentally, Russia’s economy is currently being crippled by ‘falling’ global oil prices–except, the value of the dollar is increasing so for everyone outside of USA that needs to buy oil, the cost per barrel is actually going up but, in a way that benefits America and not necessarily the producer and seller of said oil. Say what you will but the US military is directed by the Fed and no developed country is going to threaten USA in conventional or economic warfare. You want the most imposing military force at your country’s doorstep? Challenge the dollar. Why do you think we did a regime change in Iraq?
I agree with you 100%! Most Americans want their country to fail, what a joke! I would die for my country! People complain about the government not doing what the people want, but don’t realize that if our government didn’t do this awful things it would be us Americans who suffer, and then the same people would say to the government “do something please!”