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France hits out at dollar hegemony in global deals

July 14, 2014

http://www.cnbc.com/id/101814602

The uproar over the BNP fine at the usually sedate Cercle des Economistes conference in Aix-en-Provence highlighted what has become yet another friction point in transatlantic relations.

French officials lobbied heavily on behalf of the country’s largest bank and argued that BNP broke no European rules, prompting a debate about whether it had been the victim of U.S. judicial over-reach.

Mr Sapin said he would raise the need for a weightier alternative to the dollar with fellow eurozone finance ministers when they meet in Brussels on Monday, although he declined to go into detail about what practical steps might emerge.

 

 Remember, France is supposed to be our ally. When our Federal government has so infuriated them that they want to quit using dollars for as much as possible, the government is on the wrong track. We the United States is working to impose its will on our allies such that they are not able to exercise their own soverienty, we’re on the wrong track. Remember when Angela Merkel said the NSA was worse than the Stasi? Now France is saying they don’t need our currency. When the dollar goes down the crapper, as it should because we’ve stolen the value out of it through inflation, the US is going to take a huge stab in the back. When we go down and our “friends” are the ones stabbing us it will be no consolation to us to utter as Ceasar did “et tu Brute?”

So, what’s the resolution to this situation? Treat people as we’d like to be treated. Quit destroying the purchasing power of the dollar. Quit stealing from our fellow Americans and nations friendly to us. Live within our means. Work within the confines of the US Constitution. The answers are quite simple, yet shockingly ignored.

The implications to our town, to our taxbase, to our freedoms here in Watauga will be tragic when the dollar collapses. I hate to think of it. I’m not old enough to remember the inflation of the 70’s under Clinton, but I’ve got to believe it would be far worse than that. It will take a long time for the malinvestments to get clear of the financial system. As usual, it will be the little people, the ones who sit idly by and allow these stupid policies to be implemented in their names, or those of us warning against it but who have failed to communicate clearly enough that people listen and modify their behavior sufficiently to make a difference in time. I think there will be a lot of systems that get reset.

In part, that’s why I write this blog. I’ve served on City Council once. When all of this transpires, there will be a need for people who can understand the times and roll with the punches. Even if I weren’t elected to serve, I hope that the Council would have the intestinal fortitude to face facts and realize that the best thing the government can do is allow their people the freedom to do what they need to do to take care of themselves, their property and their community. So far, I’ve not seen much of that from our Council. Perhaps the biggest role the Council will be able to play is to keep BISD, the county, the state and the feds from imposing themselves on our citizenry.

Interesting that this post should fall on Bastille Day.

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