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Thread: France lashes out against US dollar, calls for ‘rebalancing’ of world currencies

  1. #41
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    Re: France lashes out against US dollar, calls for ‘rebalancing’ of world currencies

    Quote Originally Posted by Summerwind View Post
    Life isn't fair, so fairness has nothing to do with it.

    Your analogy is ridiculous. Firstly 17 having sex with 15 isn't illegal in the US. Secondly, it'd be more akin to ... they fall in love and decide to have sex but the only way is to come to the USA to have that sex. Now IF it were illegal, which it isn't for 17 to 15yos, then it would be prosecutable because it happened in the USA.
    I don't think you're understanding him. Does France use oil?

    If the answer is yes, then they must deal in USD. Hence the term, petrol dollar. This fact in turn sets the dollar up (or used to) to be the only viable currency for fractional reserve banking. So any bank that engages in trading on the global market, does so in USD. Which used to be fine. But now we're using it to apply and enforce our laws outside our borders...imperialism.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

  2. #42
    Hot Flash Mama
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    Re: France lashes out against US dollar, calls for ‘rebalancing’ of world currencies

    Quote Originally Posted by KevinKohler View Post
    I don't think you're understanding him. Does France use oil?

    If the answer is yes, then they must deal in USD. Hence the term, petrol dollar. This fact in turn sets the dollar up (or used to) to be the only viable currency for fractional reserve banking. So any bank that engages in trading on the global market, does so in USD. Which used to be fine. But now we're using it to apply and enforce our laws outside our borders...imperialism.
    My point is that if you're going to do black market trading, you shouldn't be using the regular market at all. I can't be more clear, avoid banks, avoid US banks, avoid US stockmarkets. If you can't do that, then abide by the rules or pay a huge fine.
    jallman: "It's all good. At least you have a thick skin and can take being poked fun back at without crying. "

  3. #43
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    Re: France lashes out against US dollar, calls for ‘rebalancing’ of world currencies

    Quote Originally Posted by PeteEU View Post
    Yes and it is violations of US law, not international law or sanctions, let alone violation of French law. Hence the problem. The transactions went from Switzerland and France to the countries involved. This is BS case from start to finish.



    Most likely but also because of who they are as I have said before.



    Screw the US prosecutors. This is a French bank and should be prosecuted in France for any violations of international sanctions. Why is it that has not happened? Because they only broke US sanctions.. and THAT is the problem.

    They have committed no crimes what so ever except in the US and because the US dollar is the world currency then the US law suddenly becomes a global law and that is simply unacceptable. It is not the first time this crap has happened and it has to stop.

    This is why more and more countries want a new world currency, and the Euro is the obvious one to use.
    BNP Paribas, like other banks and institutions, made themselves subject to US laws when they set up shop in the United States. The transactions they provided were denominated in dollars which required that they be routed through Fedwire or through another US clearing network and were clearly subject to US law. The transactions may have originated offshore but they were cleared through New York. You can argue that the penalties are excessive but there is no realistic avenue for arguing that they aren't legal. BNP knew what it was doing and it paid the price for how poorly it handled the US prosecutors.

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