http://www.sitnews.us/RonPaul/081614_ron_paul.html
Ron Paul knows exactly how this movie will end. Too bad only a relative handful of Americans are listening to him:
At the same time the US expects cooperation from European banks, it is also prosecuting those same banks and fining them billions of dollars for violating existing US sanctions. It is not difficult to imagine that European banks will increasingly become fed up with having to act as the US government’s unpaid policemen, while having to pay billions of dollars in fines every time they engage in business that Washington doesn’t like.
European banks are already cutting ties with American citizens and businesses due to the stringent compliance required by recently-passed laws such as FATCA (Foreign Account Tax Compliance Act). In the IRS’s quest to suck in as much tax dollars as possible from around the world, the agency has made Americans into the pariahs of the international financial system. As the burdens the US government places on European banks grow heavier, it should be expected that more and more European banks will reduce their exposure to the United States and to the dollar, eventually leaving the US isolated. Attempting to isolate Russia, the US actually isolates itself.
It will? ~evil grin~ Awesome!
Although we want to rid ourselves of US ties and we all feel some degree of rage and frustration against the US government, the fall of the US dollar would, unfortunately, also sink Canada. We should be careful what we wish for…
Good comment LTR. It is very easy to rage off of the goal.
The other side of the coin is that antagonistic arguments against FATCA can have a lot of seriousness in it. And as the issue rises up to the notoriety level of Ron Paul, it starts to enter into the mainstream debate.
(although people have been ignoring Ron Paul for years, his insightfulness is years ahead of its time. Love em or hate em.—there is also an in between)
I agree LTR but how about foreign banks suing the Lehman Brothers type of banks in the US for having created the 2008 financial crisis by selling worthless products to overseas banks?
“the fall of the US dollar would, unfortunately, also sink Canada.”
Then I guess the government needs to start looking at alternative methods to alleviate the fact that our economy is too dependant on the United States. Wouldn’t you say that would be the prudent way to go? Remember the old saying “Don’t put all your eggs in one basket”. This is what Canada has essentially done economically. They need to diversify to alleviate the damage that could potentially happen instead of wandering around like turkeys sticking their heads up wondering where the torrential downpour is coming from and drowning as a result.
Maybe America is less of a friend and ally than an economic necessity? I too have heard that America is imperative for the economic survival of the west. But I see a huge problem when such a friend is dragging everybody down with him? Europe is going to face HUGE economic problems when sanctioning Russia and losing that business. Europe was growing and now it is headed for another recession while sitting on its unsellable, perishable produce. So while Europe is upholding the laws America forces upon the world, things are getting worse for Europe as well. There seems to be no solution to the problem, unless underneath the surface there is a trend toward other currencies and business partners.
My friend’s hometown in Serbia are suppliers to an Italian vehicle factory but also to Russia. The Italians rang up and said they couldn’t do business with them. The town is hit hard.
@Mark Twain
Coincidentally, regarding FATCA:
http://www.tax-news.com/news/Serbia_To_Protect_Taxpayers_Rights_Under_FATCA____65575.html
Here’s the audio version of Ron Paul’s comments.
Ron Paul and the Libertarian POV is starting to resonate with a lot more people, especially when so many are fed up with the two-party gridlock in Washington. But as Mark Twain said: If voting made any difference they wouldn’t let us do it.
Ron Paul is correct as usual…the US will reap what it sows. Sanity, one would hope, should prevail – but given the narrow worldview of DC – I think a Roman Empire downfall is more likely (sadly).
Does anyone have the latest facts on the US FATCA court case the attorney James Bopp is filing? Expected to go to Supreme Court.
I would hope he would think it ideal to start a 2nd front in the FATCA campaign. Look what fighting two fronts did to the Nazis.
Perhaps that’s why the military has made a training attack upon the Federal Reserve—in Minneapolis.
Weird.
http://www.twincities.com/localnews/ci_26362024/low-flying-copters-alarm-st-paul-residents
There is no clear reason why the loonie would also be sunk by the debasement of the dollar. The loonie is likewise a fiat currency, but unlike the dollar, our currency is not the world’s reserve currency and cannot be destroyed by the world suddenly deciding not to use it again for that purpose.
On the other hand, the Canadian economy could be hurt by a struggling US. Also, our currency isn’t a strong currency–it is subject to some of the same manipulation that debase all the fiat currencies in the world. But the US dollar is special–it’s vulnerability is therefore also special.
“On the other hand, the Canadian economy could be hurt by a struggling US.”
As I said before; diversification of economy – shifting the bulk of the economic load that has been attributed to the United States to other countries should be the primary goal of Canada’s economic leaders. Like successful businesses, Canada has to do what it must to stay afloat and if it means cutting loose deadwood like the United States, then so be it.
Canadians are not ready for what needs to be done to prevent annexation. We would need to reduce the public sector in most realms and increase the military. We would need to arm ourselves personally, just like the Americans do, so that we are ready the next time they try to cross our border en masse. We would need to forge strong alliances with Russia and China and the other BRICs. Instead, our prime minister makes cozy with the dictator to the south and places sanctions on Russia.
“We would need to reduce the public sector in most realms and increase the military. We would need to arm ourselves personally, just like the Americans do, so that we are ready the next time they try to cross our border en masse. We would need to forge strong alliances with Russia and China and the other BRICs.”
Unfortunately, that is what has to be done. Survival of Canada is of the utmost of importance. The only problem is that we have a Prime Minister who is asleep at the wheel and 66% of our population who think that the United States is our friend and the best thing since sliced bread. By the time they wake up to the fact that the United States is inflicting this on us not as a matter of taxes, but as a measure for annexation of the entirety of North America, it will be too late for us.
Heisenberg’s law of unintended consequences at work. Everything is changed from its intended purpose just by observng it. The U.S. politicians will find someone else to blame. How do I know that–they always have—-