Thursday, February 13, 2014

14-02-14 BNP Paribasn to settle with USDOJ for $1.1 billion

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One can only guess that the French were not dummies, and that they created some corporate veils between their US entities, and entities that dealt with Iran. Therefore, one can assume that there was here an issue of jurisdiction.
One can also assume that there was here some violation of French law, which the French government refused to prosecute... (the French are notorious)
Regardless, as in the Bank of China case, the US is simply trying to extort, based on its dominance in international clearance transactions.  
However, this approach, by a nation led by a banksters-security gang, is short sighted.
It is likely to lead either to the demise of the USD as an international trade currency, or further reliance on clearance services outside the United States (particularly in Europe), or both.
Anyway you look at it, it would hard the US economy and international standing, beyond being an act of international hooliganism.


French Bank Is Suspected of Violating Blacklistings


14-02-12 US: Treacherous Stanley Fischer - No 2 in the Fed

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Fischer with his newly acquired Israeli ID in 2005

OccupyTLV, Feb 12 - Israeli media today publish that Fischer's financial disclosure in the US reveals that:
a. He is going to be the richest individual in the Fed
b. He has an enormous investment in Blackrock - one of two firms that he designated to handle Israel's foreign reserves.

As Governor of Bank of Israel Fischer single-handed implemented a proven unsustainable policy of supporting the dollar against the Israeli Shekel.  Following his hasty departure from Israel it turned out the such policy incurred so far a loss of NIS 40 billions - an enormous sum relative to the Israeli economy.

Fischer is a key figure in the global banking cartel. His track record shows more of the same in Israel and elsewhere:
  • Fischer treacherous conduct was first alleged by Nobel Prize winner Joseph Stiglitz, relative to his conduct in Argentina as senior officer of IMF
  • Similar claims were raised relative to his conduct in Russia as a senior officer of the World Bank
  • Fischer was member of the senior management team that caused the collapse of Citigroup, which required enormous bailout by the US Treasury.
  • In Israel, Fischer created a real estate bubble, similar to that in the US in 2000s, according to a recent OECD report.
  • In Israel, Fischer established disregard of FOIA in Bank of Israel, according to report by the Israeli FOIA Association (NGO)   
  • In Israel: Fischer established banks above the law, subservient to the US surveillance apparatus.
Bloomberg predicted that Fischer is going to eclipse Yellen in the Fed... time will tell what damage he will cause to the US economy during his tenure there... Surely he is not the one to restore banking regulation in the US!

[1] 02-06-06 Globalisation and its discontents by Joseph Stiglitz_The Economist
[2] 14-01--09 How the Fed’s Would-Be No. 2 Helped Wreck Russia_American Conservative
[3] 13-11-30 Stanley Fischer's legacy in Israel - placing banks above the law, subservient to the US surveillance