On the ground Cold War 2.0 has flared more recently in Ukraine, in mutual accusation regarding responsibility for downing MH17, in tests of nuclear systems in both US and Russia, etc. (Chomsky issued a statement that the current nuclear confrontation is endangering the world).
But the underlying issues are currencies and banking.
FATCA is one of the early foundations of Cold War 2.0, which is a currency and banking war in its essence. Nations, like Israel, which yielded to FATCA, accepted submission to the corrupt US banking system and the US government.
The opposing foundation is in the formation of the BRICS group. With it came the establishing of a new world bank last summer in Rio, to rival the one dominated by the US, objection to the IMF in principle, denomination of major gas deals in non-USD currencies, issuance of new bank cards by China and Russia, tours by both Putin and the Chinese president last summer in Latin American nations (US back yard... Monroe...) and promises of assistance, particularly to Argentina - victim of US banking/court fraud of medieval style and proportions, and to Cuba - regarding the development of an under sea oil field, which the US had blocked...
The BRICS nations also plan to dispose of USD as a reserve currency.
What is at stake is the survival of the USD. Absent its position as an international reserve and energy currency, it is doubted that it can maintain its value, or even close to it...
The position of Europe is critical in Cold War 2.0. And it does not look like the US would be able to dominate it as in the past, except for the UK, a routine lackey... For example, the US is pressuring EU to sanction and isolate Russia, but a couple of weeks ago 50 heads of state, including Putin appeared in Milano for the "Eurasian Summit". US and Israel were of course not there... The event was hardly covered by Israeli media, not clear to me to what degree it was covered by US media at all... (I copied the closest that I could find from the Washington Post above).
FATCA established the nations that yielded to the US in this currency/banking war. In return, the banks of these nations were offered the bankster status - above the law of the land...
Israel is a perfect example:
A recent article (could not find in English) reviewed the situation in detail, and explains that Bank of Israel issued no regulations. Banks were given by Bank of Israel a free hand to implement FATCA whichever way they see fit...
In parallel there are more on more reports of corruption of the banking system in Israel - US-style: starting from fraud on consumers in the courts, and ending with massive banking fraud cases (the latest - Bank Leumi), where no executive is held accountable...
Stanley Fischer was of course a key figure in this respect, in submitting Israel to FATCA. He also established a policy of high volume USD purchase, basically betting the Israeli reserve on the USD... (and in his tax statements for the Fed appointment, it turned out that he had substantial holding in the financial firm that he delegated the management of the Israeli UDS purchases and reserves...)
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BRICS heads of state at the signing of the agreement on new world bank in Rio, this summer.
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